Growth Forecasts for Algeria in 2016 & 2017 Unchanged: IMF
19/01/2017 05:29 GMT

The International Monetary Fund (IMF) on Monday kept its growth projection for Algeria in 2016 and 2017, while predicting, in its world economic outlook, an acceleration of the national economic... More

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Bahraini, Sudanese Officials Review Labor Ties
19/01/2017 11:21 GMT

Labour Market Regulatory Authority (LMRA)'s CEO Osama Al-Absi received President of the Sudanese Workers' Trade Union Federation (SWTUF), Eng. Yusuf Abdulkarim Ali, and the associating delegation.... More

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Egypt to End Capital Controls, Reform Oil Sector in IMF Deal
19/01/2017 11:11 GMT

Egypt will scrap its remaining caps on transfers and deposits of foreign currency by the end of June and overhaul its oil sector as part of ambitious efforts to reform the economy under an IMF... More

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NIDC to Spend Less on Iran's Azadegan Wells
19/01/2017 05:29 GMT

Other than the 40 wells it has already won under EPD terms in Azadegan Field ( North Azadegan Oil Field & South Azadegan Oil Field ), The National Iranian Drilling Company (NIDC) has managed to win... More

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General Electric Bags Iraq Power Deals
19/01/2017 07:27 GMT

General Electric (GE) has secured more than US$1.4 billion in orders from Iraq’s Ministry of Electricity to set up power plants as well as provide technology upgrades and maintenance services. The... More

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IMF: Weak Oil Slows Kuwait’s Non-Oil Expansion
19/01/2017 07:11 GMT

Economic activity in Kuwait’s non-oil sector continued to expand in 2016, albeit at a slower pace, reflecting the impact of lower oil prices, said an IMF report. Non-hydrocarbon growth slowed from 5%... More

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Increase in Libya’s Output Puts OPEC Deal at Risk
11/01/2017 08:25 GMT

Libyan oil production, which has been steadily rising in the last two months, could pose a risk to the production cut deal reached between OPEC and non-OPEC member countries least year, analysts... More

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Petroleum Development Oman Eyeing Partners for Habhab Heavy Oilfield
19/01/2017 11:19 GMT

Majority state-owned Petroleum Development Oman (PDO) is looking to partner with international oil and gas companies in harnessing the prodigious hydrocarbon potential of its Habhab oilfield – a... More

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Qatar's GDP Expected to Recover in 2017-18
19/01/2017 10:34 GMT

Qatar’s gross domestic product is expected to recover in 2017/18 with headline real GDP forecast to be 3.8% in 2017 and 4.1% in 2018, QNB has said in a report. The country’s growth is expected to... More

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Saudi Arabia

Remarkable Success Achieved in 2016: KSA's Cayan
19/01/2017 10:38 GMT

Cayan Group, a leading Saudi-based property developer and real estate investment group, said it has achieved remarkable success in 2016 with the launch of SR5.5 billion (US$1.46 billion) projects... More

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Dubai Real Estate Transactions Up in 2016
19/01/2017 10:40 GMT

The total amount of real estate transactions recorded in Dubai, UAE last year exceeded Dh259 billion (US$70.5 billion), according to the annual report released by Dubai Land Department’s (DLD). The... More

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Petsec Acquires Remaining Interest in Yemeni Block from Kuwaiti Firm
16/11/2016 09:44 GMT

Petsec Energy has executed an agreement with Kuwait Foreign Petroleum Exploration Company (KUFPEC) to acquire their 25% working interest in Yemen Block 7 , Al Barqa Permit. The KUFPEC transaction... More

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General News

OPEC Points Out Growing Stability in Oil Market
19/01/2017 11:02 GMT

OPEC signaled a falling oil supply surplus in 2017 on Wednesday as the exporter group's output slips from a record high ahead of a deal to cut supply and outside producers show positive initial signs... More

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