Saudi Arabia is close to securing a $10 billion, five-year bank loan, the government's first significant foreign borrowing for over a decade, as the world's top oil exporter seeks to fill a record budget gap caused by low crude prices.
The UAE ranked among the world's top 16 exporters, according to the World Trade Organisation's Report on International Trade Trends.
This was revealed at the 30th edition of International Autumn Trade F
Top oil exporter Saudi Arabia is expected to raise the official selling price (OSP) for most of its crude grades to Asia in April, including a hike in the OSP for Arab Light to a four-month top, in line with a stronger Dubai market.
Fish exporters are exploiting a loophole that allows them to get around a ban on the export of popular fresh fish, the Gulf Daily News (GDN), our sister publication has reported.
The ban was introduced to keep
Saudi Arabia is set to become the world’s third largest exporter of petrochemical products with its market share poised to reach 10 per cent by 2015.
Saudi plastics and petrochemical exports grew from less than $500 million
The Middle East region can become a major exporter of the renewable energy thanks to the abundance of year-round sunlight as well as pockets of geothermal activity, said a solar energy expert.
The potential for this infinite resource in th
The world's fifth-largest oil exporter Iran is storing millions of barrels of crude on tankers as it struggles to sell the product on which it depends, trade sources said on Thursday.
The development comes at a time of seasonally lower