Gulf braces for austerity as oil income slump hits home
Faced with heavy losses from low oil prices, Gulf states have embarked on belt-tightening measures to cut spending and boost non-crude revenues, but analysts...
Lebanon govt likely to approve budget by mid-March-finance minister
Lebanon's 2018 budget will likely be approved by cabinet before mid-March, its finance minister said on Thursday, as the heavily indebted country seeks to...
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...
IMF gives China's currency prized reserve asset status
The International Monetary Fund admitted China's yuan into its benchmark currency basket on Monday, in a victory for Beijing's campaign for recognition as a...
Offshore oil drilling amid crisis – Lebanon
Lebanon's president, Michel Aoun, Thursday inaugurated the Mediterranean country's first offshore exploratory drilling for oil and gas, calling it a “historic day” for the...
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...
Riyadh forum big boost for business
Custodian of the Two Holy Mosques King Salman will patronize the 7th Riyadh Economic Forum on Tuesday at Riyadh International Center for Exhibition and...
Saudi Telecom takes controlling stake in Kuwait's VIVA
Saudi Telecom Co. (STC) said Monday it has raised its share in Kuwait Telcom Co. (VIVA) to a controlling stake after acquiring 25.8 percent...
Turkey’s central bank raises rates again, says ready to tighten further
Turkey's central bank ramped up its benchmark interest rate to 17.75 percent on Thursday, taking another step to assert its independence, two weeks after...
The impact of Coronavirus on UK stocks
Following a surprise interest rate cut by the U.S. Federal Reserve, UK stocks ranked lower on Wednesday as investors worried about the extent of...
