Algeria

Algerian Sonatrach Adopts New Code of Ethics
22/07/2021 05:59 GMT

The CEO of the National Hydrocarbons Company Sonatrach, Toufik Hakkar on Monday in Algiers, signed the new code of ethics for the company, listing the standards of behaviors and ethical principles... More


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Bahrain

OBG: Bahrain’s Diversified Economy Ready for Rebound
27/07/2021 04:22 GMT

A new Covid-19 Recovery Roadmap produced by Oxford Business Group (OBG) explores the key role that Bahrain’s growing private sector and investor-friendly regulatory environment are set to play in... More


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Egypt

Riyadh-Based Aldrees Requests to Acquire Service Stations in Egypt
26/07/2021 09:14 GMT

The Riyadh-headquartered Aldrees Petroleum and Transport Services Co. (Aldrees) has submitted a request to acquire service stations in Egypt, as part of a wider plan to expand into the North African... More


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Iran

Iranian Local E&P Firms to Study Azadegan Field
27/07/2021 06:51 GMT

The giant Azadegan oil field (South Azadegan Oil Field and North Azadegan Oil Field ), estimated to hold 32 billion barrels of oil in place, has already been developed in two sections – North... More


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Iraq

Chinese Firms to Build Airport, Houses in Iraq as per Oil-For-Projects Deal
27/07/2021 08:03 GMT

Chinese firms are set to build an airport and 90,000 houses in Iraq as part of a 2019 agreement for crude supply in exchange for projects, an Iraqi official was quoted as saying. Companies from... More


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Kuwait

Kuwait to Spend Tens of Billions on Strategic Projects
25/07/2021 04:36 GMT

Kuwait has allocated some 19.6 billion Kuwaiti dinars (US$65.1 billion) covering 19 strategic projects during the current annual development plan, Al-Anba reported. The newspaper catalogued progress... More


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Libya

Libyan Firms Discuss Projects to Raise Output Capacity
21/07/2021 10:06 GMT

The Chairman of the Board of Directors of Libya’s National Oil Corp (NOC), Eng. Mustafa Sanalla, and Chairman of the Owners Committee of the Waha Oil Company, Dr. Rajab Abdul-Sadiq met to discuss... More


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Oman

Salalah Free Zone Completes 2nd Package of Warehouses
27/07/2021 04:19 GMT

Salalah Free Zone (SFZ), an Asyad Group business hub, has announced the completion of construction works of the second package of logistic warehouses covering a total area of 25,000 sq m, a media... More


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Qatar

FocusEconomics: Qatar’s Public Debt to GDP Set to Decline in 2025
27/07/2021 04:19 GMT

Qatar’s public debt as a percentage of the GDP is set to decline to 55.4 in 2025 from 65.8 this year, researcher FocusEconomics said in a report. Next year it will be 61.7; 60 in 2023 and 57.7 in... More


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Saudi Arabia

Saudi PIF-Owned Elm Invests in Livemint
27/07/2021 07:14 GMT

Elm, a company-owned by the Saudi Public Investment Fund, has invested in India-based healthtech Healthifyme’s US$75 million Series C funding round, led by Khosla Ventures and LeapFrog Investment,... More


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UAE

Emirates Central Cooling Systems Corp Awards Deal
27/07/2021 08:21 GMT

Emirates Central Cooling Systems Corporation (Empower) has awarded the main construction contract for its new permanent plant at Al Khail Gate with a total value of more than AED133 million (US$36.2... More


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Yemen

Yemeni Rial Plunges to New Record Lows
15/07/2021 10:18 GMT

The Yemeni riyal on Wednesday reached record lows, trading 1,003 to the dollar in the black market despite fresh economic measures by the government, currency traders told Arab News. Chaired by Prime... More


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General News

Oil Ups as Tight Supply, Vaccinations Outweigh Pandemic Concerns
27/07/2021 06:25 GMT

Oil prices rose on Tuesday with investors betting tight supply and rising vaccination rates will help offset any impact on demand due to surging COVID-19 cases worldwide. Brent crude futures climbed... More


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