Leading News Source For Middle East
Saudi Arabia economy is expected grow by 6 pc in 2012 from 7.1 pc increase posted last year, says the International Monetary Fund in its latest annual review of the world major oil exporter and producer. The private sector will Read more
“We are a coalition of 94 (members of the Knesset). This is the time to lead a diplomatic process…but if isn’t possible to reach a permanent agreement with the Palestinians, we must consider an interim arrangement or even a unilateral Read more
The central government of Iraq will be holding a two-day auction for the exploration of twelve blocks. Five blocks are having oil whilst the rest contain gas. The two day session which will end on Thursday is the fourth auction Read more
The non presence of military personnel in the disputed Abyei area as requested by the UN Security Council has been confirmed by the UN peacekeeping mission there after the beginning of negotiations in Addis Ababa, Ethiopia. The confirmation is welcomed Read more
Kuwait Foreign Petroleum Exploration Corporation (KUFPEC), a state oil firm and subsidiary of Kuwait Petroleum Corporation, will be paying almost half a billion dollars to Enquest Plc, an oil and gas exploration company, for a stake in its North Sea Read more
The Libyan oil industry is quickly recovering in the aftermath of the revolution that rocked the country in February 2011. Contrary to experts’ pessimistic predictions that it would take the sector years to recover, Libya is already pumping 1.5 million Read more
Sukuk Al-Wakkah, a Medium Term Note program has been set up by the Bahrain based Gulf International Bank (GIB) for 1.1 billion dollars. The program falls under the tactical ambitions of the country’s search to vary its funding avenues and Read more
In a strategic move to curb the paperwork procedures and visa requirements for the tourists passing by or coming to the United Arab Emirates, a solution is finally forthcoming after more than 2 years of discussions according to an announcement Read more
The presidential election commission has officially announced the results of the first presidential elections after the Mubarak regime. There were no outright winners. Mohammed Mursi of the Muslim Brotherhood and Ahmed Shafiq, the last prime minister to serve under Hosni Read more
With debates and talks being held over its nuclear facilities and ambitions, Iran which still remains defiant to economic sanctions from international organizations and countries against its nuclear initiative has just made a stunning revelation that it will be building Read more