No more "free" Saudi money for Egypt, says Saudi businessman
Saudi Arabia's financial support for strategic ally Egypt will no longer involve "free money" and will increasingly take the form of loans that provide...
Oil prices drop despite OPEC forecast
Oil prices fell on Monday even as OPEC forecast a further tightening of supplies, as traders focused instead on turbulence across financial markets.
The Organization...
Saudi reform plan pleases markets
A sweeping economic reform plan announced by Saudi Arabia on Monday pleased the financial markets but fell short of convincing sceptics that the kingdom...
Turkish lira, shares boosted by Erdogan election win
Turkish markets rallied on Monday as investors bet on Tayyip Erdogan's presidential election victory bringing political stability, setting aside any concerns over the direction...
Kurdistan government needs support to plug $100 million monthly deficit
The Kurdistan Regional Government (KRG) in Iraq needs budget support to plug a monthly deficit of $100 million and would accept any conditions that...
Algerians are watching the collapse of oil prices with alarm
The economic impact of the Coronavirus pandemic, which has sent global demand for crude into tailspin, threatens to fling Algeria into a new crisis...
Saudi to unveil 2016 budget with huge shortfall
Saudi Arabia unveils its 2016 budget on Monday with the oil powerhouse expected to project a huge deficit following the collapse of crude prices.
The...
Oil prices rise after Saudi Arabia cuts ties with Iran
Oil prices rose in Asia Monday after crude producer Saudi Arabia cut diplomatic ties with Iran following a row over the Saudi execution of...
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...
IMF approves $5.2 bn, 1-year loan program for Egypt
Washington (AFP) - The IMF board on Friday approved a one-year, $5.2 billion financing package for Egypt to help the country alleviate the economic...
