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...
Libya cuts oil output by up to 120,000 bpd due to power problems
Libya's National Oil Corp on Wednesday cut oil production by about 120,000 barrels a day as its eastern subsidiary AGOCO faced power problems due...
Amid Coronavirus, Pakistan seeks $1.4 billion IMF loan
Government finance adviser Abdul Hafeez Shaikh said on Wednesday that Pakistan is seeking another $1.4 billion loan from the International Monetary Fund (IMF) to...
Saudi Arabia seeks $6-8 billion bank loan
Saudi Arabia is seeking a bank loan of between $6 billion and $8 billion, sources familiar with the matter told Reuters, in what would...
Lufthansa sees growth opportunities in Saudi Arabia, Oman
German airline Lufthansa sees the Middle East as a chance for growth, namely Saudi Arabia and Oman. As sanctions on Iran have recently eased...
John Lewis to enter Middle East with Dubai store
John Lewis, Britain's largest department store group, is to enter the Middle East market, opening an outlet in Dubai next year as it steps...
Saudi conglomerate Binladin avoids financial crisis
Saudi Binladin Group, the kingdom's biggest construction conglomerate, appears to have pulled back from the brink of a financial crisis that risked damaging the...
Oil slides, strong dollar pulls Asian shares lower
Asian shares dropped on Thursday, with energy stocks taking a hammering from a slide in oil prices while a stronger dollar piled pressure on...
U. A. E lays out new migrant labor reforms
The United Arab Emirates is introducing labor reforms that aim to tighten oversight of employment agreements for the millions of temporary migrant workers that...
Kuwait in deal to import 2.5 million tons of liquefied gas
Kuwait's state oil company has signed deals to import 2.5 million tons of liquefied gas per year into the country to help power electricity...
