The coalition of crude producers gathers on Monday to assess the state of the market
Dubai: When OPEC and its allies met last month, Saudi Arabia’s energy minister dared oil speculators to test his determination to stabilize global markets.
Now that...
Dollar declines could give a boost to non-oil industries once the pandemic eases
Dubai: More than a decade ago, Gulf Arab nations struggled to preserve their currency pegs as the dollar went into retreat. This time, the link to a...
The GCC gaming market has followed alongside the rapid global expansion and is expected to hit $821 million by 2021 from $693 million in 2017
Social distancing measures have meant that many residents in the UAE are opting to spend...
UAE says Opec+ 2021 oil supply boost going ahead as planned.
World oil demand will rebound more slowly in 2021 than previously thought as coronavirus cases rise, Opec said on Tuesday, adding to headwinds faced by the group and its...
Gas demand is expected to grow by approximately 3.8 to four per cent on average compared to six per cent in 2019
Investments in the Middle East and North African region's gas sector have shown a steady surge to reach...
Creditors, mainly Indian public sector banks, took over Jet in early 2019 but failed to keep it operating as its cash crunch grew.
A consortium comprising a UAE-based entrepreneur and Kalrock Capital was given the final go-ahead to rescue the...
Sellers may take a commercial decision to absorb VAT in order to make the price of promotional goods more attractive to potential buyers.
The UAE's Federal Tax Authority (FTA) has clarified that "VAT-free special offers" are misleading and contrary to...
Global oil demand is expected to rebound to pre-pandemic levels by 2022 while supply tightens, creating a deficit, Energy Intelligence has reported, quoting the chief executive officer of Saudi Aramco.
Amin Nasser said China would once again be the focus...
Asks lenders for debt standstill deal related to their Target exposures
Dubai: Arabtec Holding asked banks this week for a three-month standstill on debt repayments for its subsidiary Target, sources said, as the Dubai-listed builder that is facing liquidation seeks...
Shuaa raised over $140 million in the last 3 months
Dubai: Shuaa Capital on Sunday announced that it has launched a $200 million ‘Shuaa Financing Opportunities Fund’ targeting special situations in the GCC. The fund has already attracted a total...
Saudi Arabia's oil output has been affected by recent attacks. The East-West Pipeline flow has also been impacted, disrupting the country's energy production and distribution.
The Strait of Hormuz has been shut down, and the CEO of ADNOC is calling for its reopening without conditions. This development has significant implications for the region's oil supply.
Gold prices in the UAE are calculated based on several factors. The price of gold per gram in the UAE can fluctuate constantly due to market conditions.
