economy

Sixteen hotels planned to open on Red Sea archipelago by Saudi Arabia in 2023
Egypt

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

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

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

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

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

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

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

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

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

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…
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