The reduction comes as Gulf producers ramp up exports through the Strait of Hormuz following an interim U.S.-Iran deal that has swollen supplies

Mubadala chief Khaldoon Al Mubarak becomes Chairman of Mubadala Capital, now one of the Mideast's largest alternative asset managers

Companies preparing for potential listings include NourNet, Master Works, ArcelorMittal Tubular, AlKhorayef Petroleum and Health Water Bottling

The project extends the UAE’s push to bolster its aluminum industry as Emirates Global Aluminium expands in the U.S., Europe and Africa

The Kuwait-based telecom company will pay $747 million for the license, invest about $800 million to upgrade Syria's aging wireless infrastructure