Qatar National Bank, the Gulf’s biggest lender by assets, posted a 4 percent rise in annual profit Tuesday, beating analysts’ forecasts, as earnings were boosted by double-digit growth in loans. The bank reported a net profit of 14.4 billion riyals ($3.95 billion) in 2019, up from 13.8 billion riyals a year earlier, it said in a statement. That was above a mean forecast of 13.9 billion riyals from a Refinitiv poll of analysts.
The United Arab Emirates will invest $22.8 billion in Indonesia through a sovereign wealth fund being set up by President Joko Widodo as the Southeast Asian nation seeks to finance billions of dollars of infrastructure and energy projects.
Saudi Arabia’s Energy Minister said OPEC and its allies remain focused on using production cuts to reduce oil inventories to normal levels, undeterred by the flare up of political tensions in the Middle East. Oil prices have erased all of this year’s rally, which saw Brent surge to a three-month high of almost $72 a barrel as Washington and Tehran faced off after the U.S. killing of a top Iranian general. Crude retreated again as the countries backed away from full-blown conflict, while supplies remain comfortable.
Saudi Arabia is seeking companies to build four solar power plants as the Persian Gulf oil giant resumes its renewable energy push.
BP has pulled out of Iraq’s giant Kirkuk oilfield after its $100 million exploration contract expired with no agreement on the field’s expansion, dealing a...
Saudi Arabia will pump the proceeds from last month’s listing of oil giant Saudi Aramco into the local economy over several years, including building up the...
The United States called Tuesday for an immediate resumption of Libya’s lifeline oil exports that have been blocked by forces loyal to military strongman...
Iran is relying on its neighboring countries to sell a surplus of gasoil it has created at home due to U.S. sanctions, trade documents and industry data showed.
The head of the Lebanese Industrialists Associations Fadi Gemayel warned Tuesday that the industrial sector will enter the danger zone if banks do not...
Lebanese authorities will be reluctant to announce a default on debt payments until a functioning government is formed, pushing back any plans for a bond...
Iran’s six-year push to integrate with the global economy appears to be coming to an end. Iran Monday threatened to withdraw from its last remaining...
Global growth appears to have bottomed out but there is no rebound in sight and risks ranging from trade tensions to climate shocks makes the outlook...
Holders of more than $20 billion of Oman’s dollar bonds want the new sultan to push through urgent reforms to ward off a credit crunch in the Gulf’s worst...
The talk’s all been about Saudi Aramco, and the suspense of its historic drive to whip up international cash.
Below are some of the key deals ADNOC has announced since 2018, part of Abu Dhabi’s plans to reform and modernize the economy and the state oil company, the...
A dramatic U.S. drone strike kills Iran’s most important general.
Turkish stocks rose the most among all major equity markets worldwide Thursday as investors’ concerns over a possible escalation in tensions between the U.S....
Middle Eastern markets can hardly be accused of complacency over the latest surge in regional tensions, even if global investors are taking a more relaxed...
Abu Dhabi sovereign wealth fund Mubadala more than halved its shareholding in Italian bank UniCredit SpA as the holder of about 6 percent of the world’s oil...
Global oil prices plunged Wednesday, totally reversing a earlier needle-thin spike that followed Iranian missile attacks on US targets in Iraq.
State-owned Kuwait Petroleum Corp Sunday signed a long-term contract with Qatar Petroleum to purchase 3 million tons of liquefied natural gas per year, a...
The U.S. killing of Iran’s most senior military commander reverberated through Middle Eastern markets, sending stocks into retreat and setting the tone for...
Greece, Cyprus and Israel Thursday signed an agreement for a huge pipeline project to ship gas from the eastern Mediterranean to Europe despite Turkey’s...
Iraqi oil exports fell to 3.428 million barrels per day (bpd) in December from 3.5 million bpd the previous month, the oil ministry's spokesman said Thursday.
Operations resumed at Iraq's southern Nassiriya oilfield Monday, two oil sources said, but it will take up to two days for output to be fully restored.
Egyptian regulators have approved Uber’s $3.1 billion acquisition of regional rival Careem after agreeing to a set of commitments proposed by the U.S.-based...
Turkey unveiled its first fully locally produced car Friday, saying it aimed to eventually produce up to 175,000 a year of the electric vehicle in a project...
If 2019 was the year when a clutch of Middle East markets burst into the mainstream, then 2020 will test whether the foreign money keeps flooding in.
Saudi Arabia and Kuwait have ended a nearly five-year-long dispute over shared oil fields and have agreed to resume oil production from the divided Neutral...
International investors were the biggest purchasers of shares in Saudi Arabia last week, when oil giant Saudi Aramco started to be added to main gauges...
Global oil markets notched up a number of milestones this year that echoed the story of the past decade: the world has shifted from an era of supply tightness...
Saudi Aramco shares extended their losses for a fourth session, reversing about half the gains accumulated from the rally following the company’s historic...