Energy Industry

Dec 27, 2017

Tax-free no more: Saudi Arabia, UAE to roll out VAT in 2018

Saudi Arabia and the United Arab Emirates, which have long lured foreign workers with the promise of a tax-free lifestyle, plan to impose a 5 percent tax next year on most goods and services to boost revenue after oil prices collapsed three years ago


Dec 24, 2017

Iraq plans new Kirkuk-Ceyhan oil pipeline

Iraq has invited companies to submit statements of interest in building a new pipeline from the northern city of Kirkuk to Turkey's Mediterranean port of Ceyhan


Dec 21, 2017

Positive IMF review paves way for $2B transfer to Egypt

IMF says Egypt's economic reforms on track, paving the way for the transfer of another $2 billion loan disbursement


Dec 21, 2017

Half the Saudi population receiving welfare in new system

Saudi Arabia doles out welfare payments to low, middle-income families, approximately half the kingdom's population


Dec 19, 2017

Saudi Arabia heralds biggest spending plans yet amid deficit

Saudi Arabia announces biggest budget in its history, announcing expenditures of 978 billion riyals ($261 billion) this coming fiscal year


Dec 14, 2017

Cyprus, Egypt, Greece agree to bolster maritime security

The defense ministers of Cyprus, Egypt and Greece have agreed to step up cooperation in combatting drug, weapons and people trafficking in the eastern Mediterranean and to share information on countering the threat of terrorism


Dec 5, 2017

Israel expects gas to flow from east Mediterranean to Europe

Israel's energy minister says a potential undersea pipeline carrying natural gas from deposits in the eastern Mediterranean to Europe is "very realistic" and could help secure the continent's energy future


Dec 5, 2017

Saudi oil minister talks of strengthening ties on Iraq visit

On Iraq visit, Saudi oil minister says relations between kingdom and Baghdad are improving


Dec 3, 2017

UAE denies claim of Yemen missile attack against its plant

UAE state-run news agency denies claim that Yemeni missile targeted its under-construction nuclear plant


Dec 3, 2017

The Latest: UAE denies claim of Yemen missile attack

The Latest: UAE state-run news agency denies claim that Yemeni missile targeted its under-construction nuclear plant