Saudi-backed shipping line UASC resumes Iran business
United Arab Shipping Company is resuming business with Iran following the lifting of Western sanctions, despite the deep-seated political rivalry between the Islamic Republic...
Oil prices resume decline in Asia
Oil prices resumed their decline in Asia on Wednesday, with global crude oversupply continuing to dampen investors' sentiment despite occasional rallies.
Prices had risen the...
U.S. sues to seize $1 billion in assets tied to Malaysian state fund
U.S. prosecutors are trying to seize more than $1 billion in assets they said were tied to money stolen from the Malaysian state fund, overseen...
52% of Saudis lack savings
A recent economic study reveals nearly one-third of Saudis suffer from an inability to strike a balance between financial expenditures and income, and achieve...
Sterling plunges to 31-year low, biggest ever fall, as UK votes Brexit
British markets plunged on Friday, with sterling hitting a 31-year low in its biggest fall on record and UK stock futures pointing to a...
Losses from oil blockade surpass $4 billion in Libya
Amid an escalation of fighting between rival forces for the capital Tripoli, losses from a protracted blockade of Libya's vital oil files and ports...
Gulf banks eyeing prospects in Iran
Gulf banks including Dubai's largest lender Emirates NBD are already meeting prospective clients and taking legal advice about entering Iran's financial system now that...
Kuwait and Saudi agree to resume output at disputed oilfield
Saudi Arabia and Kuwait have reached a deal to resume production at the disputed Khafji offshore oilfield, Kuwait's acting oil minister said on Tuesday.
"An...
Saudi bourse regulator tightens curbs on anonymous investors
Saudi Arabia's market regulator has further tightened its restrictions on anonymous investors trading shares through brokers, citing the need to prevent money laundering and...
Saudi contractor MMG appoints new CEO
Saudi construction company Mohammad Al Mojil Group ( MMG ) has appointed Hafiz Shafei as its new chief executive officer, the company said.
Prior to...
