Libya’s National Oil Corporation (NOC) lifted force majeure on all oil exports on Friday as a first tanker loaded at Es Sider after a half-year blockade by eastern forces, but said technical problems caused by the shutdown would keep output low.For a [Read story...]

The UN institution responsible for space travel welcomed a new partnership with the United Arab Emirates to work on space sustainability in an online forum on Wednesday.The UAE recently sent an astronaut into space and has an ambitious program includ [Read story...]

Kuwait has raised the official selling prices (OSPs) for its crude grades sold to Asian refiners in August, a price document showed on Friday. The producer has set the August Kuwait Export Crude (KEC) price at plus $1.05 per barrel to the average of [Read story...]

Iran is determined to develop its oil industry in spite of US sanctions imposed on the country, Iranian Oil Minister Bijan Zanganeh said in a televised speech on Saturday.For all the latest headlines follow our Google News channel online or via the a [Read story...]

Oil prices steadied on Friday but were still set for weekly declines as inventories rose and record-breaking new coronavirus cases in the United States stoked concern about the pace of economic recovery and fuel demand.Brent crude was up by 1 cent, o [Read story...]

The British Embassy in Libya welcomed the announcement that the country’s National Oil Corporation (NOC) had resumed oil exports in the country after a half-year blockade.The NOC lifted force majeure on all oil exports on Friday, releasing the blocka [Read story...]

Emirates airline has cut a tenth of its workforce during the novel coronavirus pandemic in layoffs that could rise to 15 percent, or 9,000 jobs, its president said, according to a report on Saturday.Read the latest update in our dedicated coronavirus [Read story...]

SpaceX on Saturday delayed the launch of a rocket due to take 57 mini-satellites into space as part of plan to build an orbiting, global broadband internet system.The company tweeted that it was postponing the 10th Starlink mission “to allow more t [Read story...]

India has started trade talks with the European Union (EU) and is open to dialogue with the United Kingdom for a free trade agreement, the trade minister said on Saturday. Piyush Goyal said that Asia’s third largest economy is open to engage with t [Read story...]

Elon Musk’s net worth soared past Warren Buffett on Friday as the chief executive officer of Tesla Inc became the seventh richest person in the world, according to the Bloomberg Billionaires Index.Musk’s fortune rose by $6.07 billion on Friday, B [Read story...]

The UAE’s Emirates Mars Mission, also known as the Hope Probe or Hope Mars Mission, will lift off from Japan this week and reach Mars in February, 2021, according to a new video released by the Mohammed Bin Rashid Space Centre (MBRSC).The mission, [Read story...]

Dubai has adopted an economic stimulus package worth 1.5 billion dirhams ($408 million) to help counter the impact of the coronavirus, announced Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum on Saturday.Visit our dedicated coron [Read story...]

Abu Dhabi Fund for Development has suspended debt service repayments for some countries and companies for the year, the state-financed fund said on Sunday.The fund provides financial assistance to companies in the United Arab Emirates and to developi [Read story...]

Saudi Arabia’s largest telecoms operator Saudi Telecom Co (STC) said on Sunday it would need another two months to complete the purchase of Vodafone Group’s 55 percent stake in Vodafone Egypt.STC signed a non-binding agreement in January to buy t [Read story...]

India’s Reliance Industries said on Sunday Qualcomm Inc’s investment arm will buy a 0.15 per cent stake in its digital unit Jio Platforms for 7.3 billion rupees ($97.1 million). The partnership will help Jio Platforms, the unit that houses Relian [Read story...]

Turkey has revoked a requirement that central bank deputy governors have 10 years prior experience and dropped a rule that banks set aside 20 percent of annual profit, the official gazette showed on Sunday.According to a decree published on the gazet [Read story...]

A top former finance official alleged that Lebanese banks “smuggled” out close to $6 billion since October despite blocking transfers abroad as the country plunged into financial crisis, the Financial Times reported. Banks imposed strict curbs fr [Read story...]

Troubled hospital operator NMC Health’s entity in the United Arab Emirates (UAE), NMC Healthcare LLC, is considering applying for restructuring and insolvency proceedings locally, two sources familiar with the matter said.The move comes three month [Read story...]

Qatar National Bank’s second-quarter profit fell after it booked sharply higher loan loss provisions due to the global economic conditions, the Gulf’s biggest lender said on Sunday.Fitch Ratings said last month that it expects Qatar’s non-hydro [Read story...]

Dubai has launched a new free-to-use website for businesses and healthcare providers to buy and sell personal protective equipment (PPE) as the coronavirus pandemic continues to cause heightened demand for PPE products.The new online marketplace, lau [Read story...]

Google said it plans to spend $10 billion over the next five to seven years to help accelerate the adoption of digital technologies in India.Sundar Pichai, who was born in the country and is now chief executive officer of parent Alphabet Inc., made t [Read story...]

The Dubai Electricity and Water Authority (DEWA) announced Monday that it would begin testing uses for the four-legged Spot robot from Boston Dynamics for internal operations.DEWA intends to use Spot to for a host of tasks. In a statement, the utilit [Read story...]

Oil edged lower before this week’s OPEC+ committee meeting, which may confirm the group’s intention to taper production cuts even as the coronavirus surges in many countries.Futures in New York fell to near $40 a barrel. The cartel will review th [Read story...]

Saudi Arabia’s oil exports in August will remain the same as in July as the extra barrels the kingdom is set to pump next month under an OPEC+ deal will be consumed domestically to meet rising power generation demand, industry sources told Reuters. [Read story...]