Egypt struggles to get subsidised food to poor amid dollar crisis
"Any rice?" says the woman, leaning into a shop in Cairo and brandishing a green smartcard that carries her family's food credits. The shopkeeper...
Qatar fund sells 10% stake in Hochtief for 540M euros
Qatar's sovereign wealth fund says it has sold off its roughly 10 percent stake in German construction firm Hochtief for about 540 million euros...
Lebanon to discontinue paying outstanding Eurobonds
Lebanon, hit by a grinding dollar liquidity crunch amid its worst economic recession in decades, had set the stage for a default on its...
MIDEAST STOCKS-Saudi banks rebound after sell-off
Rebounding banking stocks lifted Saudi Arabia's market in early trade on Monday. Egypt's bourse was also positive in thin trade before an extended break.
The...
Oil producers struggle with budgets after price collapse
Oil producing countries are scrambling to fill gaping holes in their budgets torn by crashing petroleum prices, with some turning to international lenders for...
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...
IMF urges Gulf states to bring in taxes
The International Monetary Fund chief urged on Monday oil-exporting Gulf countries to introduce taxes, warning that low crude prices are likely to stay for...
Oil prices up as Canada wildfires threaten crude output
Oil prices climbed in Asia Thursday with Brent breaching $45 a barrel following a fall in US production while raging wildfires threatened to cut...
Egypt to offer incentives for low-cost airlines
Egypt plans to announce incentives for low-cost airlines such as easyJet and Germany's Air Berlin and Condor to help combat a slide in tourist...
Shell quits gas project in Abu Dhabi
Royal Dutch Shell is exiting a key natural gas project in Abu Dhabi owing to the collapse in global energy prices, the oil giant...
