Saudi inflation rises to five-year high on subsidy cut
Saudi inflation soared to a five-year high in January after the kingdom made unprecedented cuts to public subsidies and raised fuel prices, a research...
Lagarde tells Nigerian lawmakers IMF she does not back FX curbs
International Monetary Fund chief Christine Lagarde told Nigerian lawmakers on Wednesday the Fund does not support foreign exchange restrictions and that any such measures...
Saudi-Iran split muddies OPEC long-term strategy
OPEC has yet to agree on a long-term strategy as Saudi Arabia objects to a proposal from arch-rival Iran that the exporter group aim...
OPEC unlikely to cut oil production amid cheap prices
OPEC looked unlikely to take steps to cut oil production to lift languishing prices at a meeting on Friday, potentially worsening one of the...
Saudi conglomerate Binladin avoids financial crisis
Saudi Binladin Group, the kingdom's biggest construction conglomerate, appears to have pulled back from the brink of a financial crisis that risked damaging the...
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...
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...
Saudi stocks plunge 6.9% on Sunday
-Stock markets in the petrodollar-dependent Persian Gulf tumbled Sunday to multimonth lows, spooked by sharply lower oil prices and a global equities selloff on...
Saudi job creation dries up as oil price slumps
Saudi Arabia's plans for economic reform foresee winding down 'jobs for life' in an inefficient state bureaucracy and replacing them with new careers in...
Sikorsky to explore helicopter production in Saudi Arabia
Saudi Arabia's Taqnia Aeronautics and Sikorsky, owned by U.S. company Lockheed Martin, have agreed to look at producing Black Hawk helicopters in the kingdom,...
