Algeria

Algeria's Foodstuff Import Prices Drop
28/07/2016 06:33 GMT

Most agricultural and food products import prices dropped over the first four months of 2016, compared with the same period in 2015, a source from the ministry of Trade told APS. Cereal import... More


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Bahrain

Bahrain-Based ABC Bank's Profits Rise
27/07/2016 04:36 GMT

Bank ABC (Arab Banking Corporation) has announced a consolidated group net profit of US$101 million for the first half of 2016, a 5% increase compared to a profit of US$96 million reported for the... More


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Egypt

S. Korea to Conduct Study on Egyptian Sea Port for Redevelopment
28/07/2016 07:19 GMT

South Korea will conduct a feasibility study on redeveloping the historic port city of Alexandria in Egypt, a report said. The study will look into the technical feasibility of the development of the... More


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Iran

MP Outlines Priorities of Iran's Oil Industry
28/07/2016 05:19 GMT

Local gasoline production, attracting local and foreign investment, and determining the fate of new contracts, especially IPC, are among the priorities of the Oil Ministry, said Hossein... More


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Iraq

Contractor Completes 5 Wells in Iraqi Oil Field
28/07/2016 05:42 GMT

Iraq’s Ministry of Oil has announced the completion of five new oil wells at the Halfaya Oil Field. Adnan N. Sajit, the director general of the Maysan Oil Company (MOC), said the drilling was done by... More


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Kuwait

Kuwaiti Petchem Firm Posts Increase in Q1 2016 Net Profits
26/07/2016 07:08 GMT

Kuwait-based Qurain Petrochemical Industries Company (QPIC) has announced a net profit of KD4.98 million (US$16.5 million) for the first quarter of the financial year 2016/2017. This year’s results... More


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Libya

Army Commander Threatens to Target Oil Tankers Approaching Libyan Ports
27/07/2016 08:40 GMT

Libya’s chief of staff Monday threatened to target oil tankers if they entered territorial waters, after a controversial deal was struck between the United Nations envoy and a militia commander in... More


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Oman

Oman's Crude Oil Exports Hike
28/07/2016 08:08 GMT

Oman's crude oil exports grew by 6.3% to 164.57 million barrels in the first half of 2016, due to an increase in production. However, the average price of Oman Crude fell by 40.9% to US$35 per barrel... More


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Qatar

McDermott Intl., Nakilat-Keppel to Pursue EPCI Projects in Qatar
28/07/2016 08:18 GMT

McDermott International and Nakilat-Keppel Offshore Marine announced the signing of a Memorandum of Understanding (MoU) for an exclusive cooperation agreement to pursue offshore engineering,... More


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Saudi Arabia

Saudi Food Co. Launches Solar Power Project in Riyadh
28/07/2016 07:50 GMT

In a unique initiative for achieving a sustainable energy mix through a comprehensive renewable energy program, Saudia Dairy and Foodstuff Company (SADAFCO) launched a solar power project in Riyadh... More


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UAE

Abu Dhabi Listed Telecom Operator Posts Rise in Q2 Profits
28/07/2016 07:06 GMT

Abu Dhabi-listed Etisalat reported a 51% rise in second-quarter net profit on the back of foreign exchange gains and lower finance costs and royalties. Etisalat, which directly and indirectly... More


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Yemen

Yemen Sells Crude to Glencore
28/07/2016 04:16 GMT

Yemen has said it sold 3 million barrels of crude to Glencore, according to a news agency affiliated to the government in exile headed by President Abd-Rabbu Mansour Hadi. The Sabanew.net news agency... More


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General News

GCC Stock Markets Drop on Weak Oil Prices
27/07/2016 07:40 GMT

GCC stock markets mostly fell as soft oil prices dampened buying, while Saudi Arabia's index fell 0.7% on disappointing quarterly corporate results. Etihad Etisalat (Mobily) slumped 4.2% after the... More


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