Saudi banks still strong despite oil slump
Saudi Arabian banks' financial cushion and the government's commitment to keep spending should enable them to weather a prolonged slump in oil prices, even...
Royal Dutch Shell first quarter earnings down 58 percent
Oil company Royal Dutch Shell said first-quarter earnings plunged 58 percent as depressed crude prices create "hugely challenging times" for the energy industry.
The Anglo-Dutch...
Gold dives close to six-year low
Gold sank Wednesday close to the lowest level in nearly six years, as the dollar rallied on prospects for a December interest rate hike...
Samsung Galaxy S7 may be launched this January
Samsung is reportedly moving up the launch of its next flagship smartphone, the Galaxy S7, to January in order to ramp up competition with Apple...
Oil above $50 for first time this year
Oil prices jumped Thursday above $50 for the first time this year as a long-lasting global supply glut shows increased signs of easing.
In a...
Egypt secures $5.2 billion IMF loan amid coronavirus fallout
CAIRO (AP) — The International Monetary Fund on Friday approved Egypt’s request for a $5.2 billion loan as the country’s economy reels from the...
Russia looks to projects with Arab world, others, to offset sanctions
Russia hopes that financing and technology from Arab states and other countries will help its firms weather the fallout from Western sanctions imposed over...
G20 ministers endorse crackdown on corporate tax avoidance
Finance ministers from the world's leading economies gave the green light Friday to a new plan to crack down on tax evasion by multi-national...
S. Africa looks to buy Iraqi crude to boost supply security
South Africa's Strategic Fuel Fund (SFF) is seeking to import 24 million barrels of oil a year from Iraq to boost its reserves in...
Kuwait economy shrinks on falling oil prices
Kuwait's economy contracted last year for the first time since 2010 as the Gulf state suffered the consequences of the global drop in oil...
