The current 30 million barrel-a-day target for the 12-nation group adequately matches demand, say officials.
Currently, more than one million Saudis work in the private sector.
The Gulf state is currently home to the US 5th Fleet.
The competition will become even stronger if sanctions on Iran are lifted in coming months.
Sheikh Mohammed urges nation to accelerate growth and warns against complacency during his address on the UAE’s 42nd National Day.
Western sanctions imposed in 2012 on Iran for its nuclear programme have cost the country its market share in OPEC.
Upset with the US, senior Saudis are considering strategic relations with other world powers.
Iran’s foreign minister said that the nuclear deal reached in Geneva on Nov. 24 should not be seen as a threat.
Sheikh Khalifa also commended Dubai’s Expo 2020 win during his address on the occasion of the UAE’s 42nd National Day.
In Kuwait the authorities have resumed the monitoring of sermons.
Government spending has been rising rapidly since 2011, when street protests demanding jobs prompted authorities to boost welfare handouts.
The capital emirate has grandiose plans to lead the world in aviation and aerospace, writes John Swift, director of NATS, Middle East.
Dubai’s Expo win has paved the way for a slew of infrastructure developments in the emirate.
UAE’s Sheikh Abdullah bin Zayed is expected to meet Iranian Foreign Minister Mohammad Javad Zarif and other officials.
The project cost Dhs100 million, and is expected to start selling locally produced salmon within six to eight months.
Bringing you the announcement as it happens and live comments from our team at The Capital Club.
The Fifa president has said Qatar’s labour rights situation is “unacceptable” amid a wave of negative headlines.
Winning Expo 2020 will hugely benefit the UAE’s events industry, says Roberts.
Dozens of ships that line Dubai’s docks make the 12-hour journey across the Strait of Hormuz a few times each month.
The silos will have the capacity to store up to 275,000 tonnes of grain.
The GCC’s oil and gas producers need to have innovative strategic plans as competition intensifies.
Should Dubai win the Expo 2020, what can it learn from previous world fairs?
Dubai expats’ housing allowance levels lag when compared to the sharp rise in rents and inflation.
Nearly a million foreigners have left Saudi Arabia since March, when authorities began a crackdown on illegal workers.
The mortar shells fell in an uninhabited area and caused no damage, Saudi officials have confirmed.
With only six days to go, Dubai is on tenterhooks ahead of the bid for what could be the largest event ever staged, writes Gulf Business editor, Alicia Buller.
The Hollywood actor gave a perfect presentation during a recent teen awards function, writes Jonty Summers, general manager of Bladonmore Middle East.
At least 100 people were injured when two explosions targeted the Iranian embassy on Tuesday.
Airline CEO Akbar Al Baker said the Saudi domestic services carrier will be called Al Maha Airways.
Etihad boss James Hogan talks strategy, partnerships and luxury in the skies as he pushes to cap another strong year of performance for the carrier.