UAE Etisalat sees 8% profit drop in Q1
UAE telecom giant Etisalat said Tuesday that its net profit dropped by eight percent to two billion dirhams ($545 million) in the first quarter...
A reduction in automobile fuel subsidies amid economic crisis in Syria
In the latest government measure to tackle a deepening economic crisis, Syria's oil and mineral resources ministry announced Saturday a reduction in automobile fuel...
Saudi banks Q3 results to reflect growing challenges
Stronger challenges facing Saudi Arabian banks are likely to be reflected in third-quarter results as earnings are hit by weak stocks, more delayed payments...
Saudi bank ANB set to sell 2 billion SAR capital-boosting sukuk
Arab National Bank (ANB) is close to completing a 2 billion riyal ($533.3 million) capital-boosting sukuk issue, sources familiar with the matter told Reuters...
Oil rises, but oversupply hobbles gains
Global oil prices rebounded Wednesday but buying sentiment remains sluggish owing to supply glut woes and a strong dollar.
At about 1245 GMT, U.S. benchmark...
ECB outlook hit euro, lift stocks, oil drops before OPEC
The dollar hit its strongest since mid-March against a basket of its peers on Monday, at the start of a week likely to highlight...
ISIS fighters hit with 50% paycut due to airstrikes
The Islamic State (ISIS) militant group has been forced to cut its fighters' pay by up to 50 percent because U.S.-led air strikes have...
Oil squeeze spreads from Gulf states to banks
Low oil prices are forcing Gulf states to borrow to prop up their economies and are now taking their toll on the region's banks...
Egypt ordered to pay $1.76 billion to Israel over gas supply cut
Egyptian natural gas companies have been ordered through arbitration to pay the Israel Electricity Corporation $1.76 billion in compensation over a gas supply cut,...
Kuwait awards record $30 bn on projects despite oil slide
Kuwait has awarded projects worth a record $30 billion so far this year despite the sharp fall in oil income, officials and experts said...
