Saturday, December 27, 2014
Saudi Arabia announced a 2015 budget with a huge deficit Thursday as the world's largest crude exporter begins to feel the impact of its own decision not to shore up oil prices.
Tuesday, December 16, 2014
Egypt's stock market shares plunged by 22 billion Egyptian pounds (just over US$3 billion) in Sunday trading as low oil prices dragged down regional economies.
Saturday, December 6, 2014
Hundreds of British drugmaker GlaxoSmithKline's 17,000 U.S.-based employees will lose their jobs by the end of next year under the pharmaceutical industry's latest restructuring.
Monday, December 1, 2014
Foreign automakers seeking a return to the potentially huge Iranian market with the lifting of international sanctions will find the business environment has changed: former joint venture partners now want to play the game by their own rules.
Wednesday, November 26, 2014
The Organization of Petroleum Exporting Countries' (OPEC) biggest crude producer Saudi Arabia will have its sights set on the upstart U.S. shale oil business at a crucial cartel meeting to debate possible output cuts on Thursday.
Monday, November 24, 2014
When a Muslim cleric told Ahmad Salim that Sharia law forbids paying interest, he returned his days-old loan to the bank and turned to the fast-growing industry of Islamic finance.
Monday, November 17, 2014
Government revenues in Kuwait dropped 4.4 percent in the first half of the fiscal year due to sliding oil prices, but the energy-rich emirate still reported a healthy provisional surplus.
Thursday, November 13, 2014
Representatives from over 60 U.S. companies wrapped up Tuesday a two-day visit to Egypt described as the largest such delegation in history that aimed to explore potential businesses to boost the country's ailing economy.
Friday, November 7, 2014
The United Arab Emirates economy, the Arab world's second largest, is recovering at pace from the global financial crisis but remains threatened by low oil prices, the IMF said Wednesday.
Thursday, November 6, 2014
Arab states in the Gulf, which pump a fifth of the world's crude oil, spend more than US$160 billion on energy subsidies annually, a top World Bank official said Tuesday.