Oil crashes would cost Iraq two-thirds of its net income
Iraq, which relies on oil revenues for more than 90 percent of its revenues, was set to face "vast economic pressures," said Fatih Birol,...
Saudi energy ministry to assist development of mega economic zone Neom
DUBAI (Reuters) - Saudi Arabia's energy ministry is to offer assistance so that Neom, a $500 billion high-tech development that includes tourism and sport...
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...
Lebanon witness a currency crash
Lebanon's pound, which has lost more than half its value since October, slid to record lows on a parallel market over the past week,...
Saudi foreign reserves drop further amid low oil price
Saudi foreign reserves dropped further in October as the price of oil remained low, but they fell at slower rate than previous months, according...
Iraq, U.S. Exim Bank to sign $3 billion agreement
The U.S. Exim Bank plans to extend Iraq a $3 billion credit line to help rebuild the country after the war with Islamic State,...
Businesses Flock to Saudi Arabia’s Future Investment Initiative
RIYADH, Saudi Arabia (AP) — Saudi Arabia has opened a major investment conference aimed at shining a spotlight on the country's efforts to diversify...
Gulf braces for austerity as oil income slump hits home
Faced with heavy losses from low oil prices, Gulf states have embarked on belt-tightening measures to cut spending and boost non-crude revenues, but analysts...
Oil traders get closer look at what might prompt Saudi rethink
Saudi Arabia has given oil traders the first glimmer of clarity on what it might take to prompt the world's biggest crude exporter to...
Fears of world food inflation due to Panic buying and lockdowns
A senior economist at United Nations' Food and Agriculture Organisation (FAO) and agricultural analysts stated that lockdowns and panic food buying could ignite world...
