Algeria's Sonatrach latest foreign oil major to resume Libya drilling

Libya has Africa’s largest proven oil reserves, with approximately 48.4 billion barrels, but political instability had led international energy firms to avoid it for more than a decade.

Algeria

Egypt discovers 18 oil, gas wells as Cairo looks to up energy output

The discoveries support the government's ambition to increase Egypt's domestic energy supply.

Egypt

Newsletter: Business & Tech

Egypt becomes MENA’s top LNG importer

Egypt overtakes Kuwait as the region’s top LNG importer amid efforts to revive its gas exports.

By Jack Dutton

In Bristol, reporting on regional business, climate change, AI, tech

At least $216B needed to rebuild postwar Syria, says World Bank

Reconstruction costs of damaged physical assets are projected at between $140 billion and $345 billion, with a conservative best estimate of $216 billion, the World Bank reports.

By Jack Dutton

In Bristol, reporting on regional business, climate change, AI, tech

China deepens textile investments in Egypt's Suez Canal Zone

The agreements will establish new textiles factories covering 238,000 square meters, which are expected to create more than 3,000 direct job opportunities.

Egypt

Bahrain joins Gulf’s late movers in the solar race with 150 MW project

If completed on schedule, the Bilaj Al Jazayer solar plant would more than double the kingdom’s total installed renewable capacity, which stood at just 69  MW in 2024.

Bahrain

Egypt overtakes Kuwait as MENA’s biggest LNG importer: What to know

Last year, the North African country shifted from being a net exporter to a net importer of LNG, due to soaring demand and production declines.

Egypt

Analysis

Turkey's Gulf energy drive gains momentum with $1B Masdar deal

As part of a goal to quadruple wind and solar capacity by 2035, Turkey is hoping to seal major deals with Masdar and ACWA Power to overcome recent dealmaking headwinds.

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Interview

Gulf real estate investors choose UK over US amid political instability

The London-based lender is seeing an increase in demand from Gulf investors in UK real estate as US markets have become less predictable.

Khaled Alanani

Head of real estate finance and investments, Bank of London and The Middle East

Singapore's DBS Group, Banque Saudi Fransi ink Asia-Gulf trade deal

Trade between Southeast Asia and the GCC reached about $130.7 billion in 2023 and is expected to grow by another $50 billion by 2027, according to the Singaporean lender.

Saudi Arabia

Newsletter: Business & Tech

Can Turkey sustain its FDI momentum?

This week, Turkey’s foreign investments rebound, Hong Kong makes a commodities push into Dubai, and Algeria unveils a $60 billion plan to revive its energy sector.

By Jack Dutton

In Bristol, reporting on regional business, climate change, AI, tech

Libyans rush banks amid cash crunch, government to print $11B in dinars to ease crisis

The Libyan Central Bank has been printing more money in response to cash shortages in the country, as falling oil prices and corruption take their toll.

Libya