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Tunisia, UAE and Bahrain have featured among the 17 countries included in the EU’s tax heaven blacklist. The EU’s financial minister drew up the list explaining that 47 countries were put on a “grey list” to be monitored until they Read more
Saudi Arabia announced Monday it will start extraction of its own uranium to supply its nuclear program with construction of two nuclear plants to be awarded end of next year. The move is in line with the kingdom’s plans to Read more
China has proposed to buy five per cent shares of Saudi Arabia’s Aramco, which is the world’s biggest oil company. China made the proposal weeks ago, and the country’s state-owned PetroChina and Sinopec, assisted by banks, are eager to buy Read more
United Arab Emirates (UAE) Thursday announced it ended the mission of its non-resident ambassador to North Korea and that of the non-resident North Korean envoy to the Gulf country. The move also hit the Korean companies operating in the seven Read more
“The oil market is oversupplied now but there are expectations that there will be balance between demand and supply in the market” Iranian oil minister Bijan Namdar Zanganeh told state TV amid reports of OPEC members increasing their total output Read more
Saudi Arabia is stepping up efforts to shift its economy’s reliance away from oil with investments from the Public Investment Fund (PIF) expected to control more than $2 trillion. The announcement was made by Deputy Crown Prince and Defense Minister, Read more
Khalil Abudllah, a member of the Kuwaiti parliament, urged the Government to adopt knowledge economy strategies pledging that the parliament will support such efforts. Addressing a two-day international forum held in Kuwait, the MP said the Government possesses the apparatuses Read more
Egypt’s Energy Minister Mohamed Shaker told reporters that the contract for the construction of the Dabaa nuclear plant will be finalized next month with Russia; thereby ending the much awaited project that was announced since 2007 during President Mubarak’s era Read more
As nuclear talks with Iran continue with Tehran adamant about its controversial program, the Sunday Times have reported that Saudi Arabia has decided to go nuclear too and will get supplies from Pakistan. Reports of Saudi Arabia receiving nuclear weaponry Read more
President Park of South Korea tour of the Middle East ended in Qatar where he met with Emir Sheikh al-Thani and most of their discussions focused on trade and investment. Both countries are eyeing to increase and diversify their economic Read more