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...
Low oil price chance for Gulf economic reforms
The sharp drop in the price of oil, the lifeblood of Gulf economies, is an opportunity to end subsidies and introduce reforms in the...
Saudi Arabia will support Egypt despite oil price lowering
The drop in global oil prices will not deter Saudi Arabia from supporting Egypt's economy, its ambassador said on Thursday, adding Riyadh's support would...
World disasters cost $71 billion in first half of 2016
From earthquakes in Japan to wildfires in Canada, disasters cost the world economy $71 billion (62 billion euros) in the first half of the...
Iran struggles to find enough ships for oil exports
Iran faces a struggle to increase oil exports because many of its tankers are tied up storing crude, some are not seaworthy, and foreign...
Saudi Naimi says global oil demand can absorb Iran output jump
Saudi Arabian oil minister Ali al-Naimi said on Friday growing global demand could absorb an expected jump in Iranian production next year while the...
Salaries in Kingdom grow 4.5% in 2015 despite falling oil prices
JEDDAH — Salaries across Saudi Arabia have increased by an average of 4.5 percent in 2015 – slightly below the rate of 5 percent...
Oil falls to 11-year low, Saudi-Iran row seen making output restraint unlikely
Oil fell to its lowest in more than 11 years on Wednesday, down around 2 percent, as the row between Saudi Arabia and Iran...
In Kuwait, IMF's Lagarde touts power of Islamic finance
The head of the International Monetary Fund says Islamic finance offers the possibility of extending banking services to many who are underserved in the...
Erdogan aide calls for nationalisation of Turkey's Isbank
An aide to Turkish President Tayyip Erdogan has called for the nationalisation of the country's biggest private bank, Isbank, in which the main opposition...
