Kuwait and Iraq say OPEC will not cut output alone
The Kuwaiti and Iraqi oil ministers said Tuesday that OPEC will not cut production unless producers outside the cartel do the same, despite the...
Yemen central bank stops guarantees for rice and sugar imports
Yemen's central bank has told traders and local banks it will no longer provide lines of credit for the import of sugar and rice...
Lebanon currency in free-fall amid political impasse
BEIRUT (AP) — Lebanon's currency continued its downward spiral Wednesday, reaching a new low before the dollar and raising such alarm that it prompted...
Gulf economic slowdown sees foreign workers trapped by debts
The economic slowdown gripping countries across the Arabian Gulf can be seen in layoffs, slowed construction projects and government cutbacks. For the millions of foreign...
U.S. may allow Iran to trade in dollars
The United States appears to be laying the groundwork to let Iran begin trading in dollars, experts believe, after a landmark accord with the...
Russia eyes global deal on oil output in April, Iran seen exempt
A global deal to freeze oil production could be signed in April and exclude Iran, which has the right to boost output after years...
Oman to raise taxes and gas prices amid global oil slump
Oman is going to cut government spending and also raise taxes and gasoline prices to cover an anticipated budget shortfall in the coming year.
That's...
Politicians and celebs deny abuse of offshore accounts
The president of Ukraine became the latest prominent politician to deny wrongdoing Wednesday after his name was linked to secretive offshore accounts arranged by...
Oil prices give up gains ahead of Federal Reserve move
Oil prices retreated in Asian trade on Wednesday following fresh indications of growing oversupply ahead of the US Federal Reserve's long-awaited decision on interest...
Lebanon rescue plan amid soaring Inflation, unemployment and poverty
Lebanon is seeking IMF help and wants to restructure around $90 billion in debt to tackle a fiscal crisis that has prompted a sovereign...
