OPEC+ panel reaffirms cartel’s current output reduction strategy
In an effort to shore up prices, the OPEC+ oil alliance of 23 nations has implemented supply cuts of more...Business Economy Energy Geostrategy
WEF24: Geopolitical upheaval to affect global economy
Geopolitical tensions, including the Russia-Ukraine conflict, Middle East unrest, and China-Taiwan ties are key economic disruptors, says Bill Browder of...Economy
Jordan draws up public sector modernization plan
Jordan king Abdullah urged coordination among state institutions to ensure the implementation of the modernisation roadmap.Jordan king Abdullah urged coordination among state institutions to ensure the implementation of the modernisation roadmap
Prime Minister Khasawneh said that the roadmap identified seven pillars as top priorities for improvement and modernisation of public services
Libya oil production returns to pre-blockade levels: official
Libya's oil production has returned to the volume recorded before a months-long blockade that paralysed the economy, official sources said...Oil production fell to around 400,000 barrels of crude per day during the mid-April to mid-July blockade
On July 15, Libya's new oil chief lifted force majeure at all the country's oil fields and export terminals
First grain cargo ship could leave Ukraine port Monday, says Turkey
A spokesman for the Turkish presidency said there was a "high probability" that a first ship carrying Ukrainian grain could...The resumption of exports was discussed in talks between the Turkish and Ukrainian defense ministers
A Joint Coordination Centre is charged with controlling Ukrainian grain exports via the Black Sea
Saudi Arabia, Poland sign agreement on air transport
Saudi General Authority of Civil Aviation (GACA) signed a Memorandum of Understanding (MOU) with Poland to organize the operational framework...From the Saudi side, Ali Rajab, Executive Vice President at GACA -Economic Policies & International Cooperation signed the MoU
From the Polish side, Piotr Samson, President of the Polish Civil Aviation Authority inked the pact in Warsaw
Saudi Arabia GDP climbs nearly 12% in Q2 on oil price hike
Saudi Arabia's year-on-year economic growth in the second quarter was 11.8 percent compared to the same period last year, according...Saudi Arabia's year-on-year economic growth in the second quarter was 11.8 percent compared to the same period last year
The Middle East's largest economy has benefited from a spike in oil prices triggered by Russia's invasion of Ukraine
Sheikh Hamdan bin Zayed issues directives for ADIHEX 2022
Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region and Chairman of the Emirates Falconers’ Club (EFC),...Chairman of the Emirates Falconers’ Club has issued directives for development of the strategy of Abu Dhabi International Hunting and Equestrian Exhibition
The development of ADIHEX strategy is to enhance its role in preserving UAE's cultural heritage, protecting the environment and promoting sustainable hunting
Lebanese struggle to find bread due to shortage of wheat
In bankrupt Lebanon, Khalil Mansour has to queue for hours every day just to buy bread for his family and...A bag of flat Arabic pitta-like bread now officially sells for 13,000 Lebanese pounds (43 US cents) and on the black market it costs more than 30,000
Lebanese media carry frequent reports of fights breaking out at bakeries, and even shots fired by customers demanding more bread
Istanbul Airport first in Europe with 1,327 average flights daily
Istanbul Airport ranked first in Europe in terms of the average number of daily flights during the period of July...The Airport exceeded the French Charles de Gaulle Airport and Amsterdam Airport Schiphol by number of flights
Istanbul Airport also topped the list of airports in terms of the number of passengers during the month of June
Gazprom suspends gas export to Latvia as tensions escalate
Russian energy giant Gazprom Saturday suspended gas supplies to Latvia following tensions between Moscow and the West over the conflict...Gazprom suspended its gas supplies to Latvia due to "violations of the conditions" of purchase, the company said on Telegram.
Gazprom drastically cut gas deliveries to Europe via the Nord Stream pipeline on Wednesday to about 20 percent of its capacity.
DEWA’s Marafeq Smart Feature speeds up issuing of NOCs
Dubai Electricity and Water Authority (DEWA)’s Marafeq Smart Feature has contributed to accelerating issuing of No Objection Certificates (NOCs) for...DEWA’s Marafeq Smart Feature has enhanced collaboration with other utilities in Dubai
Till the end of June 2022, around 15,000 NOCs have been approved using this feature
