Saudi posts record $98 billion deficit in 2015
OPEC kingpin Saudi Arabia posted a record $98 billion budget deficit in 2015 due to the sharp fall in oil prices, the finance ministry...
World's largest indoor theme park to open in Dubai
The world's largest indoor theme park is set to open in Dubai this month to lure back some of the tourists and residents who...
Kuwait to launch free economic zone on islands
Kuwait has said it will establish a free economic zone on five islands close to the shorelines of regional heavyweights Iraq and Iran with...
Gulf Arabs race to release youth potential in age of cheap oil
Like the prototype drone of Emirati student Talib Alhinai, the ambitions of young people across the Gulf Arab states need to soar if they...
Social media frenzy ‘hurting Saudi market sentiment’
A top Jeddah-based economist has cautioned Saudi stock market investors against being influenced by rumors spread by social media.
“Social media keeps us connected. But...
Anid economic impact of Coronavirus, Egypt seeks aid
Egypt's Prime Minister, Mostafa Madbouli, said Sunday the country is seeking an aid package from the International Monetary Fund to offset the economic impact...
Lebanon to discontinue paying outstanding Eurobonds
Lebanon, hit by a grinding dollar liquidity crunch amid its worst economic recession in decades, had set the stage for a default on its...
Qatar Airways boss: 'we create American jobs'
Qatar Airways chief executive Akbar al-Baker said Thursday that his company is helping to create jobs in the US despite an ongoing war of...
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...
South Korea builder confident of $20 billion Saudi housing deal
A South Korean constructor that jointly won a $20 billion housing deal with Saudi Arabia said Monday it was confident the project would go...
