News, economy and analysis from across the Middle East
EnergyNews
Houthi strikes on Saudi oil facilities and Strait of Hormuz incidents have pushed Brent crude prices to their highest in five months. This surge could reshape government budgets and business costs across the region.
These significant increases, following earlier hikes in October, will impact heating, transport, and petrochemical costs across the Middle East and Asia.
Baghdad is making strides in capturing flared gas and courting international partners, including Russia, to power its economy and reduce reliance on imports.
Iraqi Prime Minister Ali al-Zaidi's visit to Syria signals a pragmatic shift. Discussions focused on reviving the historic Kirkuk-Baniyas oil pipeline, a move that could reshape regional energy flows.
OPEC+ is set to keep oil output steady for December, but ongoing Middle East tensions are keeping Brent crude prices on a rollercoaster, impacting regional revenues and business confidence.
The European Investment Bank is expanding its funding for Egypt's sustainable projects, from solar power to water infrastructure. This partnership aims to strengthen the economy and create jobs.
The revolving credit facility will provide a financial buffer for the energy giant's ambitious capital expenditure program as it balances traditional energy with new growth areas.
Iraq is offering substantial price cuts on its crude oil, with some sales to India seeing discounts approaching $28 per barrel. This aggressive strategy aims to secure vital export volumes amidst regional tensions and financial strain.
Oman's digital economy programme targets a RO 1.5 billion GDP contribution and 3,000 annual jobs by 2030. This ambitious plan signals a major acceleration in the Sultanate's Vision 2040 economic diversification efforts.
Morocco's latest Finance Bill commits MAD 400 billion to public investment and creates 34,454 new jobs. It balances significant spending with tax reforms to benefit households and businesses.