Oil prices extend losses ahead of U.S. report
Oil prices fell in Asia on Tuesday as persistent concerns about a global oversupply and caution ahead of a US stockpiles report chipped away...
Salaries in Kingdom grow 4.5% in 2015 despite falling oil prices
JEDDAH — Salaries across Saudi Arabia have increased by an average of 4.5 percent in 2015 – slightly below the rate of 5 percent...
Qatari state fund buys stake in NY's Empire State Building
Qatar's sovereign wealth fund has made an iconic purchase in America — a stake in the company that owns New York's Empire State Building.
The...
European shares rally after China calms yuan fall
European shares bounced on Thursday after a 4 percent fall this week, tracking global equities higher on efforts by China’s central bank to slow...
Ambitious Saudi economic reforms up against 'vested interests'
Saudi authorities will have to confront a range of vested interests if they hope to pull off an ambitious plan to diversify the economy...
IMF cuts Eurozone growth forecast after Brexit
The IMF cut its growth forecast for the eurozone on Friday, citing the fallout from Britain's shock vote to leave the European Union.
The IMF...
Samsung Engineering reaches milestone in Saudi Arabia project
SAMSUNG Engineering Co., Ltd, revealed that it has reached a major milestone is terms of safety with Aramco’s Shaybah project. Samsung achieved the new...
Abu Dhabi financial regulator may create framework for virtual currencies
The regulator of Abu Dhabi's international financial centre said it could create rules for exchanges handling virtual currencies, in a sign that authorities in...
Egypt's Sisi ignores criticism, focuses on economic achievements
Egyptian President Abdel Fattah al-Sisi vaunted on Thursday his "unprecedented" economic achievements, ignoring mounting criticism by opponents and the press after police raided a...
Saudi Arabia to convert state real estate fund into bank
Saudi Arabia plans to convert a state-owned housing fund into a bank, the latest in a string of reforms to the economic policy apparatus...
