Business

Turkish Lira Seesaws as Cenbank Intervenes, Erdogan Speaks

Turkish Lira Hits 14 to USD in Face of Erdogan’s ‘Dangerous Experiment'

Saudi Arabia Reassures Oil Markets about ‘Omicron’

Saudi Energy Minister: Postponing OPEC+ Meetings Aims to Gain Time, Review Matters

Saudi Stock Exchange Ends Trading Higher after Early Losses

Jordan's Draft 2022 Budget Forecasts $15 Billion in State Spending

Jordan to Expand Oil and Gas Exploration Activities

Jordan’s Energy Minister Saleh Al-Kharabsheh said on Tuesday that his country would begin oil exploration in two areas, Al-Jafr and Al-Sarhan, in February. The minister revealed that a detailed study of the East Al-Jafr region is currently underway to drill three medium-depth wells, in cooperatio

Saudi Establishes New Authority to Drive Sustainable Development of Red Sea Economy

The Saudi Council of Ministers has approved the Regulatory Arrangements of the Saudi Red Sea Authority (SRSA) that will streamline regulation to enable the sustainable development of a ‘Red Sea Economy’ for the Kingdom.

World Bank Says Poverty is on the Rise in Lebanon

A World Bank report has said that in 2021 the number of poor Lebanese is expected to have increased by 1.5 million over baseline, and by 780,000 Syrian refugees. At the international poverty line, the increase in poverty is found to be around 13 percentage points from baseline by the end of 2020,

Omicron Variant Raises New Fears for Pandemic-hit World Economy

Saudi Aramco Expects about 2 Bcf/Day in Gas from Jafurah Field, CEO Says

Turkey’s Erdogan Says Won’t Compromise on Rates; Lira Weaker

Middle East Markets Struggle with Omicron Covid Variant

Saudi Energy Ministry, SABIC Sign MoU to Develop Renewable Energy Projects

Saudi Arabia's Ministry of Energy and Saudi Basic Industries Corp (SABIC) have signed a memorandum of understanding (MoU) to develop renewable energy projects. The Ministry aims to support the development of the company's renewable energy projects, ensure the readiness of the transmission network

S&P Improves Bahrain’s Outlook

S&P Global Ratings has revised Bahrain's outlook to 'stable' from 'negative' on the back of new fiscal reforms aimed at improving non-oil revenues and cutting state spending, the ratings agency said in a statement.

UN: Pandemic to Cost Global Tourism $2.0 trillion in 2021

The coronavirus pandemic will cost the global tourism sector $2.0 trillion in lost revenue in 2021, the UN's tourism body said Monday, calling the sector's recovery "fragile" and "slow". The forecast from the Madrid-based World Tourism Organization comes as Europe is grappling with a surge in inf

Gulf Countries Look to Form an Integrated Industrial System

Israeli Bank Leumi Raises $721 Million in Bond Issue

UAE’s President Approves Wide-Ranging Amendments to Economic Legislations

Erdogan Orders Probe into Turkish Lira’s Slump

Tunisia Signs MoUs to Support Libyan Market

Tunisia and Libya signed a set of agreements to support and develop bilateral cooperation in vocational training and employment. The two countries signed a memorandum of understating (MoU) in the presence of Libyan Minister of Labor and Rehabilitation Ali al-Abed al-Rida and Tunisian Minister of

Masdar Signs Agreement to Develop Solar Power Plant in Armenia

Erdogan Takes Another Swipe at Lira with His Defense of Low Rates

Saudi Arabia to Launch Major Future Privatization Projects Covering All Sectors

Turkey Committed to Rate-Cutting Policy, Deputy Minister Says