Airbus has cancelled an order of 50 A321neo aircraft from Qatar Airways, the company said Friday, in an escalating dispute over Doha grounding the plane maker’s bigger A350.“We confirm that we have terminated the contract for 50 A321s with Qatar [Read story...]

Iran said on Friday its gas exports to Turkey have resumed after being cut a day earlier due to a technical fault, but a Turkish official said Iranian supplies were lower than the required volumes.“Gas exports to Turkey, which had been suspended ye [Read story...]

Turkey’s parliament approved a law late on Thursday under which lira deposits converted from foreign currency under a scheme to support the lira will be exempt from corporate income tax on gains resulting from the conversion.State-owned Anadolu new [Read story...]

Iraq has already scheduled some oil shipments for loading in March due to projections of strong demand, Ali Nizar, deputy head of Iraq’s State Organization for Marketing of Oil (SOMO), told reporters on Sunday.For the latest headlines, follow our G [Read story...]

Saudi Arabia’s Minister of Finance Mohammed Al-Jadaan said on Friday that the Kingdom supports sustainability while ensuring energy security and the inevitability of moving to a green and sustainable global economy, “based on a flexible and thoug [Read story...]

Saudi Aramco has signed 50 agreements during the sixth IKTVA (In-Kingdom Total Value Add Program) in Dhahran, the company said.For the latest headlines, follow our Google News channel online or via the app.The IKTVA program is part of the Kingdom’s [Read story...]

The economies in the six-member Gulf Cooperation Council will grow at their fastest paces in several years, according to a Reuters poll of economists who cautioned the risk to that outlook was skewed to the downside.For the latest headlines, follow o [Read story...]

Lebanon’s finance minister said on Monday there was still no agreement on an exchange rate to be applied in the 2022 draft budget, “but numbers might not be far from” rates of 15,000 to 20,000 Lebanese pounds per dollar, local television statio [Read story...]

Saudi Aramco’s IKTVA program has attracted more than 500 investments inside Saudi Arabia with an estimated capital expenditure of $7 billion, Chairman of the Board of Directors Yasir al-Rumayyan said.The in-Kingdom Total Value Add (IKTVA) is a prog [Read story...]

Saudi Aramco CEO Amin Al Nasser said that the demand for oil is nearing pre-pandemic levels, Asharq Business reported in a tweet on Monday.Read more: Saudi Aramco signs 50 agreements during IKTVA conferenceSaudi Aramco to establish presence in China [Read story...]

Lebanese officials began much-delayed talks with the International Monetary Fund on Monday on support measures aimed at lifting the country out of its worst-ever economic crisis.“We hope the negotiations will be concluded as soon as possible, but, [Read story...]

Iraqis have launched a campaign on social media urging the boycott of Iranian products in response to a reduction in Iranian gas supplies to their country, which has contributed to widespread power outages.The country has been experiencing power loss [Read story...]

The Government of Kuwait has agreed with a parliamentary committee on increasing the capital of Kuwait Credit Bank by 300 million dinars ($993.31 million) to 3.3 billion dinars ($10.9 billion), the finance minister, Abdulwahab Mohammed al-Rushaid, sa [Read story...]

Lebanon’s economic depression “is orchestrated by the country’s elite” and “has come to threaten the country’s long-term stability and social peace,” the World Bank said in a press release on Tuesday attached to its latest report on the [Read story...]

Egypt will target economic growth of 5.7 percent and a primary surplus of 1.5 percent of GDP in the 2022-23 financial year, the finance ministry said on Tuesday.For the latest headlines, follow our Google News channel online or via the app.The countr [Read story...]

The United States has pulled its support for a subsea pipeline that would supply natural gas from the eastern Mediterranean to Europe because it makes no economic sense, Turkish President Recep Tayyip Erdogan was cited as saying on Tuesday.Touted as [Read story...]

South Korea’s LG Corp is planning to establish its regional headquarter in Saudi Arabia’s capital Riyadh, Asharq television reported on Tuesday.For the latest headlines, follow our Google News channel online or via the app.LG’s announcement com [Read story...]

Dubai’s Emirates airline announced on Tuesday that it will suspend flights to several destinations in the US as of Jan. 19 until further notice because of concerns over 5G mobile deployment.The move is “due to operational concerns associated with t [Read story...]

Britain is partnering with Kenya to build a new rail hub in the capital Nairobi, and its development arm CDC Group will invest $1 billion in various sectors over the next five years, officials said on Tuesday.Britain, the former colonial power, has i [Read story...]

UAE energy minister Suhail al-Mazrouei said on Wednesday that he was “not worried about the short term” when asked about predictions that oil prices will rise above $100.The price of benchmark Brent crude gained 0.33 percent on Wednesday to $87.7 [Read story...]

Shares in Japan’s Sony plunged Wednesday, ending down nearly 13 percent after Microsoft announced a landmark $69 billion deal to buy US gaming giant Activision Blizzard.The move, which will make Microsoft the third-largest gaming company by revenue b [Read story...]

Jordan will next week sign a deal with Lebanon and Syria to supply Lebanon with electricity under a US backed regional plan to help the country ease acute power shortages, the energy minister said on Wednesday,Saleh Kharabsheh told state media the de [Read story...]

The second unit of the United Arab Emirates’ Barakah nuclear power plant is set to begin commercial operations in coming months, the Emirates Nuclear Energy Corporation’s (ENEC) CEO said on Wednesday.The third unit of the plant’s planned four r [Read story...]

Iran has cut gas flows to Turkey for up to 10 days due to a technical failure, prompting Turkish authorities to order gas-fueled power plants to reduce gas use by 40 percent, sector officials announced on Thursday.For the latest headlines, follow our [Read story...]