Muscat, Oman - The Sultanate of Oman's producer price index (PPI) in Q3 2023 recorded a decrease of 13 percent compared to Q3 2022, according to data issued by the Omani National Centre for Statistics and Information (NCSI). The statement explained that the prices of oil and gas products decreased...

Doha, Qatar - The International Atomic Energy Agency (IAEA) has given the green light to three new national projects in Qatar, slated to commence in January and span over three years. These projects, approved by the IAEA, encompass critical areas including the management of Naturally Occurring Radioactive Material (NORM) wastes...

Dubai, UAE -- The Investment Corporation of Dubai (ICD) has posted a net profit of AED 36.1 billion ($9.8 billion) for 2022, compared to AED 10 billion in 2021 due to a surge in business activities and higher oil prices. The Group, which is the main investment arm of the...

Pipes and fittings, valves, bends and cladded pipes, industrial pumps, batteries, pipes and fittings, and many more goods will be manufactured locally.

GCC countries witnessed the launch of massive economic and development projects in various sectors last year as part of their strategy to diversify their economies.

The agreement with Kobe Steel will see the supply of EGA’s CelestiAL solar aluminium to one of the largest rolling mills in Japan.

The Pittsburgh-based company is looking to establish a state-of-the-art manufacturing plant in Khalifa Industrial Zone Abu Dhabi.

Libya's oil production has returned to the volume recorded before a months-long blockade that paralysed the economy, official sources said on Sunday. "We are happy to announce that our production rates have reached the pre-force majeure levels" of 1.2 million barrels per day, Libya's National Oil Corporation said on Twitter.

Russian oil firm Zarubezhneft will take over its remaining 20 percent stake in the Kharyaga project in the Arctic pending approval by Russian authorities.

Saudi Arabia, the world's second-largest oil producer that produced more than 10 million barrels of crude per day before the pandemic, plans to produce 13.5 million barrels by 2027, as well as 23 billion cubic feet of gas by 2030.

Abu Dhabi National Energy Company (TAQA) has posted a net income (TAQA-share) of AED6.0 billion, a jump of AED3.2 billion, for the year ended December 31, 2021.

The main reason for high inflation rates in the GCC countries is a rebound in prices in the sectors that were affected the hardest during the Covid-19 crisis, Chief Economist at Oxford Economics Middle East, Scott Livermore, tells TRENDS in an interview.

The acquisition is part of Al Qudra's diversification strategy.

In oil exporting countries, the fiscal deficits in 2020 will be replaced by large surpluses in 2021 and 2022, mainly in GCC. If oil prices average US$ 81/b in 2022, fiscal balances in Saudi Arabia, the UAE, Qatar, Iraq, and Oman are projected to be higher than 3% of GDP.

Majority of tenders issued are part of Bahrain’s $32 billion infrastructure development plans Oil and gas $767m, aviation $382m, construction and engineering $194m, materials and equipment $119m     Bahrain has issued government contracts worth $1.6 billion for the first three months, up 23 percent over the same period last...