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The Levant

Apicorp exits National Petroleum Services

The Arab Petroleum Investments Corporation (Apicorp) announced on Wednesday that it successfully exited from National Petroleum Services (NPS), an oilfield services firm after completing the sale of its 29 per cent equity to Nasdaq listed National Energy Services Reunited Corporation, four years after it made the investment. “Despite challenging market …

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Activists protest planned West Bank demolition

Israeli police scuffled with activists protesting the planned demolition of a Bedouin hamlet in the West Bank on Wednesday amid international opposition to the razing of the site. Police spokesman Micky Rosenfeld said 11 people were arrested in the “disturbance” including several for throwing stones at officers in Khan al-Ahmar. …

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IMF Urges Egypt to Watch Inflation After New Subsidy Cuts

The International Monetary Fund urged Egypt to maintain a tight monetary policy as a new round of subsidy cuts rekindled inflation worries. The Washington-based lender praised Egypt’s implementation of economic reforms as “instrumental in achieving macroeconomic stabilization, with external and fiscal deficits narrowing, inflation and unemployment declining, and growth accelerating.” At the same …

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Australia ends direct aid to Palestinian Authority

Australia has ceased providing direct aid to the Palestinian Authority (PA), with Foreign Minister Julie Bishop saying the donations could increase the self-governing body’s capacity to pay Palestinians convicted of politically motivated violence. Ms Bishop said funding was cut to the World Bank‘s Multi-Donor Trust Fund for the Palestinian Recovery and Development Program …

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Salem Al Badwawi gets Tolerance Award

Salem Abdullah Bin Nabhan Al Badwawi, an officer of the General Directorate of Residency and Foreigners Affairs Dubai (GDRFA), who shot to prominence following his noble gesture of offering his car to a stranded family at Hatta border recently has been awarded the inaugural International Tolerance Award. Al Badwawi’s gesture …

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Trial run for UAE iceberg project in 2019

Leviathan icebergs will be towed from the Antarctic to the UAE’s Fujairah coastline by early 2020 to be melted into pure, polar ice water for humanitarian and commercial distribution, says the Emirati visionary who first proposed the ambitious effort last year. But before large ocean going vessels attempt the 12,000-kilometre …

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New HR law for Dubai government approved

His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Sunday approved a new human resources law for Dubai Government. The law recognises the possibility of appointment on the basis of “remote work” and gives people of determination an additional …

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How a surprise deal to boost world oil supply could ‘stir the pot’ in the Middle East, and pressure Saudi’s spare capacity

An impromptu agreement between the United States and Saudi Arabia to add more supply to increasingly tight oil markets is perceived as a test of the kingdom’s ability to pump more crude — and could further antagonize Iran and Venezuela, as both countries grapple with deteriorating conditions in their respective …

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