How Saudi Arabia plans to shake up its economy
In late February, several hundred Saudi officials, company executives and foreign consultants gathered in a luxury Riyadh hotel to discuss how Saudi Arabia's economy...
Saudi Aramco says fraud foiled between trading unit and ONGC
State oil giant Saudi Aramco said on Sunday that an attempted fraud that targeted its trading unit Aramco Trading and India's Oil and Natural...
Devaluation of Saudi currency would carry major political risk
The devaluation of Saudi Arabia's currency could cause such political instability that Riyadh has little choice but to stick to its promise to use...
Oil slides, strong dollar pulls Asian shares lower
Asian shares dropped on Thursday, with energy stocks taking a hammering from a slide in oil prices while a stronger dollar piled pressure on...
Gulf banks are limiting their lending to minimize losses
Gulf central banks have introduced stimulus measures worth tens of billions of dollars including loan repayment holidays to distressed businesses and individuals and fee...
Egypt ordered to pay $1.76 billion to Israel over gas supply cut
Egyptian natural gas companies have been ordered through arbitration to pay the Israel Electricity Corporation $1.76 billion in compensation over a gas supply cut,...
Oil rises after Saudi Arabia reiterates willing to work with non-OPEC
Oil prices turned around to rally on Monday after the Saudi Arabian cabinet said in a statement the kingdom remained ready to work with...
Saudi Arabia to allow full foreign ownership in retail
Saudi Arabia will ease restrictions on foreign investors to let them own 100 percent of retail and wholesale businesses, the government said on Sunday...
Saudi Prince Mohammed considering subsidy cuts after oil price slump
Saudi Arabia may reduce energy and water subsidies for wealthy citizens among other reforms to diversify its economy away from oil amid a sustained...
Iran’s Khamenei warns economy will worsen if virus spreads
Tehran (AFP) - Iran's supreme leader warned on Saturday that the country's economic problems would worsen if the novel coronavirus spreads unchecked, saying the...
