It will export annually up to 1.2m metric tonnes of LNG.

UNITED NATIONS - The COVID-19 pandemic, the cost-of-living crisis and the war in Ukraine have pushed 165 million people into poverty since 2020, the United Nations said, calling for a pause in debt repayments for developing countries. Because of these shocks, 75 million people will have fallen into extreme poverty,...

Abu Dhabi, UAE--The Securities and Commodities Authority (SCA) has signed a memorandum of understanding (MoU) with the UAE Banks Federation (UBF) to foster mutual cooperation in developing the financial sector. The aim is to establish the UAE as a major attraction for asset and wealth management in line with the...

Tehran, Iran-- Iran has signed oil contracts worth $40 billion with domestic and foreign companies during the last 20 months. Speaking at the second ministerial session of the 8th OPEC International Seminar entitled “Investments, finance and inclusive petroleum growth strategies” at the Austrian capital, Iran’s oil minister Javad Owji said...

Speaking at a CII event in New Delhi, Abdulla Bin Damithan, CEO & Managing Director, DP World UAE & Jafza outlined efforts to push non-oil trade between the two countries toward $100 billion over the next five years. JAFZA has been supporting initiatives to boost manufacturing, investments and exports in...

Abu Dhabi, UAE— The UAE President Sheikh Mohamed and the King of Malaysia Al-Sultan Abdullah have witnessed the signing of a concession agreement between ADNOC and PETRONAS for Abu Dhabi’s Unconventional Onshore Block 1. The award to Malaysia’s national oil and gas company launches the Middle East’s first unconventional oil...

The economic ties between the UAE and Egypt were strengthened this year by the signing of the Industrial Partnership for Sustainable Economic Growth, crowning a more than fifty-year long trade relationship between the two nations that has grown to $67 billion in the last twenty-two years.

Taking a cue from Federal Reserve, GCC central banks have raised interest rates, tracking a hike in the US Fed's benchmark rate. The US central bank announced its third consecutive interest rate increase of 0.75 percentage point, continuing the forceful action to tamp down inflation that has surged to the...

The US Federal Reserve announced the most aggressive interest rate increase in nearly 30 years on Wednesday, and said it is prepared to do so again next month in an all-out battle to drive down surging inflation. It was the first 75-basis-point increase since November 1994.

The UAE has announced 40 days of mourning with flags at half-mast from Friday, with work suspended in the public and private sector for the first three days.

More than 70 shells embedded in a footpath outside a Bangkok shopping mall have been found to be the fossils of marine creatures that lived more than 66 million years ago.

A Jordanian court on Wednesday sentenced a fugitive uncle of King Abdullah II to 18 years in prison in a corruption case, a judicial official said. Walid al-Kurdi had already been jailed for more than 37 years in 2013 for "abuse of office," after he had fled to the United...

Dubai has allotted some 18,013 e-trader licenses during the last five years, according to a government report.

The Middle East and Africa can add 14 gigawatts of new wind power capacity in the next five years, according to latest Global Wind Report by the Global Wind Energy Council (GWEC).

As Morocco withers under its worst drought in 40 years, experts warn that a combination of climate change and bad resource management could trigger severe drinking water shortages.

Aramco will start 140 new projects in the next three years.

Iraq's National Museum reopened Monday to visitors after a three-year closure due to the Covid-19 pandemic and political unrest.

Dubai plans to attract 50 multinational companies within three years and push the external expansion of 100 companies from Dubai to priority foreign markets within two years, Dubai media office said, citing Dubai International Chamber. The strategy is also aimed at supporting and motivating multinational companies to list on the...

The record real estate transactions will contribute to driving the sector in the next 50 years during which the UAE seeks to build the best economy globally, Dubai Land Department said on Friday. A total of 84,196 real estate transactions worth almost AED 300 billion ($81.67 bn) were recorded last...

France's economy grew at its fastest pace since 1969 last year, official data showed Friday, enjoying a strong rebound from coronavirus lockdowns fueled in part by massive government support.

The past seven years have been the hottest on record, the United Nations confirmed Wednesday, adding that 2021 temperatures remained high despite the cooling effect of the La Nina weather phenomenon. "The warmest seven years have all been since 2015," the UN's World Meteorological Organization said in a statement. And...

The last seven years have been the hottest on record globally "by a clear margin", the European Union's climate monitoring service reported Monday, as it raised the alarm over sharp increases in record concentrations of methane in the atmosphere. Countries around the world have been blasted by a relentless assault...

Major General Ahmed Nasser al-Raisi of the United Arab Emirates has been elected as the new President of Interpol, according to an announcement on Twitter on Thursday.

The United States can now start giving children aged 5-11 the Pfizer-BioNtech Covid vaccine, US health authorities said Tuesday in a move hailed by President Joe Biden as a "turning point" in the fight against the pandemic.

An Iranian court has sentenced the former governor of Iran’s central bank to 10 years in prison for violating the country’s currency system, a judiciary spokesperson said Saturday.

A Libyan Airlines flight with about 255 passengers on board flew into Cairo International Airport, marking the first time in seven years that the airline touched down in the neighboring country.

Stung by the lockdown and lack of pilgrims traveling from around the world to Islam’s holiest site, Makkah’s hospital industry sees business returning in next two years.

The Russian embassy in Egypt announced that flights will resume in August, some six years after a Russian passenger plane crashed in Sinai.