Ras Al Khaimah / Emirates Business Ras Al Khaimah, the UAE’s northern-most emirate, is readying this month to host its biggest ever Awafi Festival – the 14th in the annual series. The three-week festival, a defining event in the emirate’s tourism calendar, yearly attracts visitors from all over the GCC, who descend on the mountain-desert-beach destination to celebrate its …

  Paris / AFP A pact by leading producers to cut output could quickly begin sopping up the glut on the oil market that has weighed on prices, the IEA said on Tuesday as it also hiked its demand forecast. The agreements, if implemented, would “hasten the market’s return to balance by working off the inventory overhang,” said the International Energy …

  Bloomberg Saudi Arabia has hired consultants to advise on plans to create top global companies in industries from petrochemicals to telecommunications as it seeks to bolster its economy and reputation, according to people with knowledge of the matter. The kingdom has identified about five companies — including Saudi Arabian Oil Co., Saudi Basic Industries Corp. and Saudi Telecom Co. …