Middle East

Dubai, Nov 13: Economic growth in the energy-rich Gulf will recover in 2018 from a contraction last year but remains vulnerable to volatility in crude oil prices, the IMF forecast on Tuesday. The global lender predicted that an overall energy price recovery from 2015-2016 lows would spur the economies of the six-nation Gulf Cooperation Council to grow by 2.4 percent in 2018 and 3.0 percent in 2019

Nov 12: Saudi Arabia, the world's top crude exporter, said on Sunday it will cut oil output from next month, as major producers held a key meeting to discuss shoring up sliding prices. Saudi Energy Minister Khalid al-Falih announced the kingdom was cutting its supplies by 500,000 barrels per day from December. But Falih said ahead of the meeting of OPEC and non-OPEC key producers that there was

Mohiudeen Wood Works Co. LLC (MWW), the oldest sawmilling company and the largest importer of round logs and sawn timber in the Middle East is celebrating its 25th anniversary this year. This is an important landmark in the company’s phenomenal growth from a new sawmill back in 1993, to one of the largest importers of round logs, sawn timber and other forest products in the Arabian Gulf region. Mr

Jeddah, Nov 11: The UN Human Rights Council approved the adoption of a report on the third Universal Periodic Review of Saudi Arabia, after discussing it four days earlier. The UPR is a process under which UN member states have the opportunity to declare the actions they have taken to improve human rights and fulfil their human rights obligations. The report by the Working Group on the Universal

Ammam, Nov 10: Official media say the death toll from flash floods unleashed by heavy rains in Jordan has risen to 11, and that searches for missing people continue. Saturday’s reports came a day after floods struck in several areas of Jordan, including Petra, an ancient trading hub carved into rose-colored rock. Hundreds of Petra visitors ran for higher ground Friday as water surged through a

Jeddah, Nov 10: The Arab coalition said early Saturday that it would independently refuel its own aircraft in the ongoing war in Yemen. “In consultation with the United States, the Coalition has requested cessation of inflight refueling support,” the Saudi Press Agency reported. The statement credited improved capability by coalition forces for the move. “Recently the Kingdom and the Coalition has

Moscow, Nov 9: Saudi Arabia’s state-funded think tank is looking into potential effects of the dissolution of the Organization of the Petroleum Exporting Countries (OPEC) amid US pressure over oil prices and investments withdrawal from Saudi Arabia in the wake of the killing of journalist Jamal Khashoggi, media reported. The study by the King Abdullah Petroleum Studies and Research Center (KAPSARC

Dubai, Nov 7: A Pakistani national has won $1 million in the latest draw of the Dubai Duty-Free raffle on Tuesday, Khaleej Times reported. Fehmida Tanveer, who has been living in Dubai for the last 10 years, said: “Thank God for this wonderful news! It’s our first time to win this big and this will definitely go a long way.” She held ticket No.0373 in series 285, which she bought online along with

Dubai, Nov 7: Dubai's flagship carrier Emirates sure knows how to add a bit of sparkle to festivities around town. After announcing special fares to India for Diwali, the airline has now rolled out a mithai (sweets) truck in the emirate. In a video shared on YouTube, the Emirates mithai truck can be seen parked outside select destinations, with staff handing out sweets and gifts. Adding to the

Dubai, Nov 7: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, took to Twitter to wish a Happy Diwali to Indian Prime Minister Narendra Modi and to all those celebrating the festival in the UAE and all over the world. On behalf of the people of the UAE. I wish @narendramodi and all who are celebrating Diwali a happy and joyful