Saudi projects $87 billion deficit for 2016
Saudi Arabia has announced a projected budget deficit in 2016 of $87 billion (327 billion riyals), as lower oil prices cut into the government's...
Algeria’s public debt rises to 45% of GDP
Algeria has been under financial pressure after a fall in energy earnings and foreign exchange reserves amid growing demands from the country's 43 million...
Amid airport closure, Lebanon banks halt dollar withdrawals
On Monday, long queues formed outside several banks north of the capital as monthly salaries came through after two weeks of ongoing home confinement.
A...
OPEC, Russia head for oil cut extension but wary of overheating market
OPEC and Russia look set to prolong oil supply cuts until the end of 2018 this week while signalling that they may review the...
IMF cuts Eurozone growth forecast after Brexit
The IMF cut its growth forecast for the eurozone on Friday, citing the fallout from Britain's shock vote to leave the European Union.
The IMF...
Oil prices bounce after six days of losses
Oil prices rebounded with share markets in Asia Friday following a six-session sell-off, with the dollar softening against most other currencies on easing concerns...
Debt payments cancellation for 25 poor nations – IMF
IMF Executive Director Kristalina Georgieva issued a statement saying the IMF executive board approved the immediate debt service relief for 19 African countries, Afghanistan,...
BP logs $1.4bn loss
BP faced another net loss in the second quarter but has now drawn a line under the 2010 Gulf of Mexico oil spill disaster,...
Kuwait oil row as minister tries to shuffle top executives
The chief of state-owned Kuwait Petroleum Corp has refused to carry out the oil minister's decision to swap the CEOs of two subsidiaries, risking...
Oil ends 2015 in downbeat mood; result to be long and painful
Oil prices headed for a second year of steep losses, despite inching up fractionally in the last trading hours of 2015, as record OPEC...
