Brent oil hits 4-month high on reports of output freeze deal
Global oil prices hit four-month highs on Tuesday, hovering just under $45 a barrel after a report that top producers Russia and Saudi Arabia...
Saudi to take $10 billion foreign loan
Saudi Arabia will take a $10 billion loan from foreign banks to help close the gap in its state finances from collapsed oil revenues,...
Jeddah water project phase-II to be over by mid-2016
JEDDAH: Jeddah’s water shortage woes will be considerably over by the middle of next year, as the second phase of the project with a...
Saudi currency stable despite low oil prices
Saudi Arabia on Monday said its currency was stable despite volatility in the futures market as the kingdom takes unprecedented measures to deal with...
Hezbollah opposes IMF management amid Lebanon’s crisis
Facing a huge public debt burden and a liquidity crunch, the government on Tuesday appointed international investment firm Lazard and law firm Cleary Gottlieb...
Trump vows to undo Obama's climate agenda in appeal to oil sector
Donald Trump, the presumptive Republican presidential nominee, promised on Thursday to roll back some of America's most ambitious environmental policies, actions that he said...
Global Muslim body urges ban on products from Israeli settlements
A global Muslim body called Monday for a ban on products from Israeli settlements in the occupied territories and pledged full support for the...
Gulf economic slowdown sees foreign workers trapped by debts
The economic slowdown gripping countries across the Arabian Gulf can be seen in layoffs, slowed construction projects and government cutbacks. For the millions of foreign...
Saudi projects $87 billion deficit for 2016
Saudi Arabia has announced a projected budget deficit in 2016 of $87 billion (327 billion riyals), as lower oil prices cut into the government's...
U.S. may allow Iran to trade in dollars
The United States appears to be laying the groundwork to let Iran begin trading in dollars, experts believe, after a landmark accord with the...
