Egypt sees World Bank funds arriving soon, looks for Saudi aid
Egypt expects to receive a $1 billion World Bank loan approved in December once outstanding paperwork is finalised and is negotiating to secure more...
Pakistan to receive $497mn tranche of IMF loan
The International Monetary Fund announced Thursday it would release the latest instalment worth $497 million of a three-year economic bailout package to Pakistan, while...
Shell reports 44 percent drop in 4th quarter earnings
Royal Dutch Shell said fourth-quarter earnings tumbled 44 percent as the collapse in oil prices took its toll on another European oil company.
Profit adjusted...
Oil prices surge on fresh talk of OPEC meeting on glut
Oil prices surged Wednesday on renewed speculation about a potential cut in global production that overshadowed another rise in US crude inventories.
US benchmark West...
Oil producers struggle with budgets after price collapse
Oil producing countries are scrambling to fill gaping holes in their budgets torn by crashing petroleum prices, with some turning to international lenders for...
Russia ready to meet key OPEC members, old price regulation tools "no longer working"
Russia is ready to meet the main oil producers within the Organisation of the Petroleum Exporting Countries (OPEC) if a consensus on such a...
No decision yet on OPEC and non-OPEC meeting
OPEC has not yet scheduled any talks with Russia and other non-OPEC countries aimed at supporting oil prices, two OPEC delegates said on Tuesday...
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...
Saudi fiscal reserves slide to 4-year low on weak oil
Saudi Arabia's fiscal reserves dropped to a four-year low last year as the government sought to finance a budget deficit caused by plunging oil...
John Lewis to enter Middle East with Dubai store
John Lewis, Britain's largest department store group, is to enter the Middle East market, opening an outlet in Dubai next year as it steps...
