Kuwait projects record deficit on falling oil income
OPEC member Kuwait projected a record budget deficit for the fiscal year starting April 1 on the sliding price of oil, the finance ministry...
Oil-dependent Saudi, Norway sovereign funds selling European shares
The top three oil-dependent sovereign wealth funds have been selling European equity holdings since May, a study showed on Monday, another sign of petrodollars...
McDonalds's hit by European consumers' anti-trust complaint
Three Italian consumer groups lodged a far-ranging anti-trust complaint with EU regulators against US fast food giant McDonald's, urging Brussels to investigate the company's...
Jubeir confirms warning on proposed U.S. law on 9/11
Saudi Arabia has warned the United States that a proposed U.S. law that could hold the kingdom responsible for any role in the Sept...
Egypt raises price of drinking water
Egypt has raised the price of piped drinking water by up to 45 percent.
Saturday's decision has been published in the country's official gazette.
The rise...
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,...
Microsoft's Gates to start multi-billion-dollar clean tech initiative
Microsoft co-founder Bill Gates will launch a multi-billion-dollar clean energy research and development initiative with heads of state on Monday, the opening day of...
Oil prices hit lowest since 2004 as supply exceeds demand
Brent crude prices hit their lowest in over 11 years on Monday, hounded by a relentless rise in global supply that looks set to...
Lufthansa sees growth opportunities in Saudi Arabia, Oman
German airline Lufthansa sees the Middle East as a chance for growth, namely Saudi Arabia and Oman. As sanctions on Iran have recently eased...
Mobile firm Zain Saudi appoints new chairman
Zain Saudi, the kingdom's third-biggest telecommunications operator, has appointed Prince Naif bin Sultan bin Mohammed bin Saud Al Kabeer as chairman.
The prince will replace...
