economy
Sixteen hotels planned to open on Red Sea archipelago by Saudi Arabia in 2023
Egypt
November 12, 2020
Sixteen hotels planned to open on Red Sea archipelago by Saudi Arabia in 2023
The Red Sea Development Company (TRSDC), a tourism project of Saudi Arabia, is planning to inaugurate 16 hotels by the…
Saudi king points to Iran as top threat in policy speech
Middle East
November 12, 2020
Saudi king points to Iran as top threat in policy speech
DUBAI, United Arab Emirates (AP) — Saudi Arabia’s King Salman slammed rival Iran and hailed his country’s efforts at combating…
Emirates turns to Dubai to see it through crisis after $3.4 billion loss
Middle East
November 12, 2020
Emirates turns to Dubai to see it through crisis after $3.4 billion loss
DUBAI (Reuters) – State-owned Emirates said on Thursday that Dubai would help it through the coronavirus crisis after losses of…
Egypt’s headline inflation quickens to 4.5% in October
Business
November 10, 2020
Egypt’s headline inflation quickens to 4.5% in October
Egypt’s annual urban consumer price inflation rose to 4.5 percent in October from 3.7 percent in September, official statistics agency…
Gold prices rise again after Monday’s unprecedented decline
Economy
November 10, 2020
Gold prices rise again after Monday’s unprecedented decline
After a historic drop of LE38 on Monday, the price of gold rose again Tuesday morning, recording an increase of…
Energy leaders leave door open to more cuts as virus spikes
Middle East
November 10, 2020
Energy leaders leave door open to more cuts as virus spikes
DUBAI, United Arab Emirates (AP) — Saudi Arabia’s energy minister said Monday that global energy producers have the ability to…
US plans sanctions on Iranians for violence against protesters, sources say
Middle East
November 10, 2020
US plans sanctions on Iranians for violence against protesters, sources say
WASHINGTON (Reuters) – The United States is expected to impose sanctions as early as next week on Iranians involved in…
Saudi economy contracts 4.2% in third quarter, improves from second quarter
Middle East
November 10, 2020
Saudi economy contracts 4.2% in third quarter, improves from second quarter
DUBAI (Reuters) – Saudi Arabia’s economy shrank 4.2 percent in the third quarter from a year earlier, government data showed…
Dollar hits ten-week low following US presidential election
Business
November 9, 2020
Dollar hits ten-week low following US presidential election
The US dollar fell to its lowest level in ten weeks on Monday, with investors buying trade-exposed currencies in anticipation…
Analysis: Shock Turkey leadership overhaul could mark pivot on economy
Middle East
November 9, 2020
Analysis: Shock Turkey leadership overhaul could mark pivot on economy
ISTANBUL (Reuters) – The shock departure of Turkey’s top two economic policymakers at the weekend sets the stage for an…