Jet Fuel Recovery to Take Months Despite Strait of Hormuz Reopening, Airlines Warn

Oil and Gas
Jet fuel recovery will take months even if the Strait of Hormuz reopens, industry leaders warn. The key phrase jet fuel recovery emphasizes the prolonged timeline for normal supply. Airlines face major cost pressures due to disrupted Middle East refining. Fuel costs represent the second-largest expense for carriers after labor, making up around 27 percent of operating expenses. The International...
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Dubai Gold Hits Dh578.75 Per Gram After Geopolitical Relief Rally

Gold price surge leads market reaction after a major geopolitical breakthrough. As a result, investors responded quickly across global markets. Prices climbed sharply in...

Oman Airports Launch Digital Payments Ecosystem

The digital payments ecosystem is advancing at Oman airports through a strategic partnership. The National Bank of Oman (NBO) and Oman Airports Management Company...

Strait of Hormuz Reopens After US-Iran Ceasefire, Energy Flows Resume

Strait of Hormuz is back in operation following a two-week ceasefire agreement between the United States and Iran. The deal aims to prevent further...
Financial

AD Ports Completes Dh9.175 Billion Loan Refinancing in UAE

Loan refinancing UAE drives a major financial move by AD Ports as it strengthens its funding strategy. The company secured a new agreement with leading UAE banks. As a result, it refinanced a Dh9.175 billion syndicated loan earlier than planned. AD Ports completed the deal one year ahead of schedule. Consequently, the company achieved more favorable financial terms. The agreement...

Finacial

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MAGRABi Acquisition Expands Reach and Enhances Eye Care in Kuwait

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The MAGRABi acquisition of Kefan Optics will create a major shift in Kuwait’s eyewear market. With this bold move, MAGRABi Retail Group will soon operate over 40 stores across the country. Specifically, the proposed MAGRABi acquisition involves...
Investment

Goldman Sachs in Talks for $10 Billion Mandate from Kuwait Investment Authority

Goldman Sachs is reportedly negotiating a $10 billion asset-management mandate with the Kuwait Investment Authority (KIA). According to Bloomberg, KIA may allocate funds over...
Financial

Kuwaiti Banks Consider Fees on Online Transfers to Cover Digital Costs

Kuwaiti banks are exploring the possibility of introducing fees on online transfers between different banks. This move aims to help financial institutions manage the...
Financial

Qatar Fuel Prices for June 2025 Petrol Steady, Diesel Drops

Qatar Energy released Qatar fuel prices for June 2025 on Saturday, May 31. These new rates reflect minor changes and align with international market...
Investment

Agriculture Pakistan and Qatar set to strengthen agricultural cooperation

Pakistan and Qatar are preparing to deepen their agricultural ties. Federal Minister Rana Tanveer Hussain met Qatari Ambassador Ali bin Mubarak Al Khater on...
Iraq

Iraq Oil Cooperation Talks Boost Energy Ties with Russia

Iraq oil cooperation continues to grow stronger through recent high-level talks with Russia. Iraq’s Minister of Oil, Hayan Abdul Ghani, led a key meeting...
Investment

Invitation to Submit Proposals for the Al-Amarat-Busher Main Road Tunnel Project

Muscat, Oman — The Ministry of Transport, Communications, and Information Technology invited local and international companies to submit proposals for the Al-Amarat–Busher Road Tunnel....
Iraq

Iraq Oil Exports Generate $7.1 Billion in August Revenues

Iraq's oil exports produced an estimated $7.1 billion in revenues during August, according to the country’s oil ministry. The announcement highlights the critical role...
Financial

Beyond Profit Forum Drives Global Nonprofit Innovation in Riyadh

The Beyond Profit Forum convened in Riyadh, bringing global leaders together to shape the future of the non-profit sector. Moreover, the event highlighted innovative...
Bahrain

NBB Fully Reopens Branch Network Across Bahrain

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The National Bank of Bahrain (NBB) has fully reopened its branch network across the Kingdom. Consequently, banking operations are gradually returning to normal and serving all customers efficiently now. All branches are open except the Bahrain International Airport branch. Authorities...

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