US Federal Reserve’s preferred inflation gauge ticks up as fuel costs rise
WASHINGTON, US – The US central bank's favored measure of inflation edged higher last month on the back of rising fuel prices, according to government data published on Friday, but another gauge stripping out volatile food and energy prices continued to ease.US Federal Reserve chair Jerome Powell told a conference in...
UN starts program to give electricity, water to Lebanon
Helped by the UN, Lebanon will get fuel to keep its healthcare and water-supply facilities for the next three months.
Stock markets in GCC rise as oil prices gain
Most stock markets in the Gulf rose on Thursday as oil prices gained on growing fuel demand and a bigger-than-expected draw in U.S. crude inventories, although the Abu Dhabi index bucked the trend to trade lower.
Lebanon raises fuel prices as subsidies are phased out
Lebanon has gradually increased fuel prices in recent months because the cash-strapped central bank can no longer afford to fund fuel imports.
First Iranian fuel deliveries reach Lebanon
Lebanon has been without a government for more than a year, and the main priority of Prime Minister Najib Mikati's newly-selected cabinet would be to guarantee petrol and electricity supplies and curb other shortages that are crippling the country.Hezbollah says Iran fuel will reach Lebanon Thursday to ease shortages
BEIRUT: Hezbollah chief Hassan Nasrallah has said that the first delivery of Iranian fuel would arrive Thursday in Lebanon to help ease dire shortages in the embattled country. Lebanon is facing one of its worst-ever economic crises, with more than three out of four Lebanese considered to be under the...
Syria agrees to help Lebanon get gas, electricity
The country has said it is ‘ready’ to help Lebanon with ‘transit for Egyptian gas and Jordanian electricity via Syrian territory’.
Syrian oil spill moves away from northern Cyprus
Emergency workers tried to contain the spillage by roping it off with booms tossed from ships some 15 nautical miles off the shore
Iran may see power-supply problems in winter
The Energy Ministry could face serious problems in meeting electricity demand in winter if power plants did not get fuel
Lebanon crisis may fuel bread shortage
The Lebanese flour millers' association has said mills might gradually stop working as fuel supplies run out. This, when the average cost of food for a Lebanese family is already five times the minimum wage.
Leaded petrol runs out of gas, says UN
Nearly a century after doctors first issued warnings about the toxic effects of leaded petrol, Algeria -- the last country to use the fuel -- exhausted its supplies last monthLebanese delegation to seek help from Syria, Jordan, Egypt
The delegation will discuss the possibility of receiving electricity from Jordan and gas from Egypt through Syrian territories.
Iran to build 3GW renewable power plants
The move is a collaboration between Iran's Power Generation, Distribution, and Transmission Company, and the Iranian Fuel Conservation Company.
Fuel tank blast kills 20 as Lebanon struggles to cope with oil demand
The cause of the explosion was not immediately clear. Lebanon, hit by a financial crisis branded by the World Bank as one of the planet’s worst since the 1850s, has been grappling with dire fuel shortages for months. The Lebanese army on Saturday said it seized thousands of liters of...
Lebanon’s bank chief vows no forex raid to fund fuel unless law changed
Lebanon's central bank governor has vowed not to reverse his decision to stop subsidising fuel imports, unless parliament votes to force the monetary authority to raid its compulsory foreign reserves. The country is gripped by one of the worst economic crises since the 1850s and is struggling with shortages of...Lebanon deploys army at pumps over fuel subsidies
Fuel importers blame the crisis on a delay by the central bank in opening credit lines to fund imports
Lebanon’s fuel crisis deepens as leadership brawls
As the fuel crisis worsens in Lebanon, the country's leadership appears to be at odds over how to end the crisis that has kept the whole country on the edge for most of the summer.Lebanon leaders, central bank lock horns over fuel subsidies
In a country suffering from one of the worst economic crises in the world, this could effectively raise prices for fuel, amid its shortage.
ADNOC Distribution H1 net profit $313m
Higher fuel volumes, improvement in non-fuel and commercial gross profit margin and increased operational efficiencies made in the first half of 2021 helped in delivering good results.Egypt’s headline inflation rises to 5.4 percent
Egypt's annual urban consumer inflation increased to 5.4% in July from 4.9% in June, official statistics agency CAPMAS said on Tuesday.Lebanon fuel scarcity leads to brawls that kill three
The fatalities have taken place in two different incidents in the country where fuel is scarce due to an ongoing economic crisis. Lebanon is in the throes of an economic crisis that has led the country’s currency to be devalued by more than 90% since end-2019.
Jobs rise for first time in Egypt since 2019
Slight drop in headline seasonally adjusted PMI in July points to minor deterioration in the health of the non-oil sector.
Spike in fuel prices not to make food costlier: Cairo Chamber
The flow of goods, the price of bread, and other food commodities will remain immune from the increase in fuel prices due to fluctuation in global prices
Lebanon may not be able to handle next Covid-19 wave
A top hospital manager has said Lebanon’s medical facilities are unprepared for the next wave of Covid-19 cases
Lebanon water supply could collapse in 4-6 weeks, says Unicef
Unicef has estimated that water supply in Lebanon may collapse altogether over the next month and a half
Deadlock ends: Top oil producers agree on modest output boost
The OPEC+ meeting on Sunday agreed to raise output by 400,000 barrels per day (bpd) each month from August to help fuel a global economic recovery as the pandemic eases.
High cost of food, fuel lifts inflation in Saudi Arabia to 6.2%
Accelerated mostly by the cost of food and fuel, inflation in Saudi Arabia has surged to 6.2 percent in June, the highest this year.
More blackouts ahead as Lebanon generators starved of fuel
National run power network is prone to blackouts Officials blame the shortages on stockpiling, smuggling The owners of private generators that provide a vital backup to Lebanon's decrepit power grid warned Wednesday of their own cuts due to lack of fuel as the country's economic crisis deepens. The national network...
UK pipeline specialist Stats boosts Qatar operations
Stats started its operations in Qatar, which has the world's third largest gas reserves, in 2011
Saudi Arabia to use cooking oil to fuel transport in Red Sea Project
It has teamed up with the region's largest biofuel producer to help fuel the site's transportation network This is part of kingdom’s commitment to renewable energy Saudi Arabia will adopt a novel way of running transport in its Red Sea Project by the use of old cooking oil....
