Global epic losses and soaring unemployment amid pandemic
With the economy paralyzed by business closures, the unemployment rate likely jumped to high rates.
Many people still employed have had their hours reduced....
Oil extends losses in Asia on strong OPEC output
Oil tumbled to fresh multi-year lows in Asia Friday after OPEC said output had surged, exacerbating concerns over a supply glut that is expected...
IMF chief calls for reforms in Gulf amid low oil prices
On a trip through a Gulf squeezed by low oil prices, the head of the International Monetary Fund repeatedly called on countries to cut...
Saudi says oil price slump should not stop investment
Saudi Oil Minister Ali al-Naimi called for sustained investment in new output capacity Thursday despite the slump in world prices.
Naimi said global production lost...
Egypt bans domestic trading of imported wheat
Egypt has banned the trading of imported wheat inside the country, Supply Minister Khaled Hanafi said on Wednesday, a move which could reduce smuggling...
European stocks rebound strongly
European stock markets rebounded strongly Thursday following gains on Asian and US indices after the Federal Reserve suggested a likely US interest rate increase...
Egypt's pound flops on black market amid exchange crackdown
Egypt's currency is plunging to new lows on the black market, with traders selling it from between 11 and 11.15 Egyptian pounds to the...
Saudi video game developers prosper as demand grows
NPR reports: The Middle East has one of the world's fastest growing communities of online video gamers. With a majority of the population younger...
Saudi Arabia’s new development plan gathers momentum
A new report on Saudi Arabia just produced by the global publishing, research and consultancy firm Oxford Business Group (OBG) charts the latest developments...
Emirates airline's H1 profit surges 65% to $849 mn
Dubai's Emirates airline said Thursday its net profit surged 65 percent in the first half of the financial year to $849 million (781 million...
