Brexit uncertainty prompts IMF to cut global growth forecasts again
The International Monetary Fund (IMF) cut its global growth forecasts for the next two years on Tuesday, citing uncertainty over Britain's looming exit from...
Online iqama services drive local agents out of business
JEDDAH: The new online service of Passport Department, including renewal of residence permits and other procedures related to expatriate workers, closed the door of...
Oil prices rise in Asia with OPEC meeting in focus
Oil prices rose in Asia Tuesday but dealers were cautious before an OPEC meeting at which the cartel is expected to maintain high output...
Saudi consumers still spending despite oil price slump
Bloomberg TV report that Saudi Arabians are still spending money despite the worldwide slump in oil prices. Emad Mostaque reports that the kingdom of...
Russia leaves door open to OPEC deal even as output hits high
Two senior Russian officials talked up potential cooperation with OPEC to prop up prices, but data showed oil production in Russia hit a post-Soviet...
BP logs $1.4bn loss
BP faced another net loss in the second quarter but has now drawn a line under the 2010 Gulf of Mexico oil spill disaster,...
Post-sanctions Iran invites Boeing for talks
Iran has invited US plane manufacturer Boeing for talks on modernising its fleet, Transport Minister Abbas Akhoundi said Thursday, weeks after Tehran's nuclear deal...
Saudi Arabia plans new sovereign wealth fund
Saudi Arabia plans to create a new sovereign fund to manage part of its oil wealth and diversify its investments, and has asked investment...
Iran reappoints Hedayatzadeh as boss of Swiss-based oil trading firm
Iran on Tuesday reappointed a former managing director of its Swiss-based trading company as part of a broader reshuffle aimed at bolstering its oil...
Egypt bans domestic trading of imported wheat
Egypt has banned the trading of imported wheat inside the country, Supply Minister Khaled Hanafi said on Wednesday, a move which could reduce smuggling...
