Sentiment soured further in the United Arab Emirates as a gauge of business conditions in the second-largest Gulf economy slumped to an eight-year low.
The board of Saudi Aramco has determined that listing the state energy giant in New York would carry too many legal risks to make it a realistic option, five sources said, although they said a final decision lay with Saudi Arabia’s crown prince. New York was the exchange favored by Crown Prince Mohammad bin Salman before plans for the initial public offering were put on hold last year, the sources said, even after Aramco’s lawyers and some government advisers had raised legal concerns.
Work on Dubai’s Al-Maktoum airport, designed to be one of the world’s biggest with an annual capacity of more than 250 million passengers, is on hold as Gulf Arab economies falter, people familiar with the matter said. Construction activity has been halted and finances for expansion frozen until further notice, according to the people, who asked not to be named due to the sensitivity of the topic.
With burger patties sizzling over a hot grill, a Saudi eatery did the unthinkable as a muazzin’s call to prayer sent worshippers scrambling to lower their shutters: It stayed open.
Oil producers and their suppliers are cutting budgets, staffs and production goals amid a growing consensus of forecasts that oil and gas prices will stay low...
Undaunted by Turkey’s near certain failure to come close to its economic growth goal this year, President Recep Tayyip Erdogan has set a target for 2020...
Egypt’s stock exchange aims to introduce short selling by December, part of a broader effort to boost liquidity in a market that’s also anticipating a wave of...
Saudi Arabia’s renewed push to publicly list its most valuable asset, Aramco, is part of a high-stakes masterplan by Crown Prince Mohammad bin Salman to...
Central Bank Gov. Riad Salameh said Thursday that the Central Bank had taken all measures to ensure that banks and financial institutions fully complied with...
Bank Audi has said that Lebanese lenders remain well-placed to weather the challenges and difficulties they face.
With Samsung Electronics Co. finally launching its troubled Galaxy Fold, success for the $1,980 luxury handset may be measured not in how many it ships, but...
China’s central bank said Friday it was cutting the amount of cash that banks must hold as reserves for the third time this year, releasing 900 billion yuan...
Emirates President Tim Clark has delivered a broadside against Airbus SE and Boeing Co. as well as their biggest engine suppliers, saying he was no longer...
Turkey’s economy fared better than forecast in the second quarter but growth will likely fall far short of the government’s expectations for the full year.
While U.S. sanctions on Iran’s oil industry have slashed the OPEC member’s crude exports by more than 80 percent, oil product sales from the Islamic Republic...
Dubai’s biggest bank is joining Gulf competitors in an attempt to attract more foreign money.
The Saudi decision to shrink the Energy Ministry will leave the kingdom’s oil policy unchanged as the world’s largest crude exporter continues cutting output...
Economists and investment banks say Egypt’s economic reforms have been a huge success.
Emerging market investors are piling back into safer asset classes as mounting trade tensions spell the end of this year’s clamor for yield.
The United States warned businesses against taking part in an annual trade fair in the Syrian capital opening Wednesday, saying participants would expose...
On the face of it, Algeria’s state-dominated economy has weathered six months of turmoil well, with flightloads of public sector workers heading abroad for...
The firm that’s transforming an archipelago, desert and mountains - an area about the size of Belgium - on Saudi Arabia’s Red Sea coast into a global tourism...
Global banks will this week start making their case on why they should be hired for what’s set to be the world’s biggest initial public offering, according to...
Qatar Financial Centre Regulatory Authority fined First Abu Dhabi Bank PJSC 200 million Qatari riyals ($55 million) for obstructing an investigation into...
Stocks across the Middle East’s most liquid markets declined in a sign that the latest escalation in the U.S.-China trade war is deepening concern about a...
Iran’s president sent a bill to Parliament Wednesday that would cut four zeroes from the value of the Islamic Republic’s sanctions-battered currency, the...
If Egypt is the Middle East’s fastest-growing economy, why are so more and more Egyptians becoming poorer?
Egypt is poised to cut interest rates for the first time in six months as easing inflation and currency stability look set to override concerns of an...
U.S. sanctions are battering Iran’s economy.
Qatar plans to build a new seaport at Somalia’s Hobyo, a potentially strategic investment in an area of East Africa fiercely contested by Gulf rivals.
Global oil markets face a “somewhat bearish” outlook for the rest of the year amid slowing economic growth and the long-running trade war, even though...
Ask Saudi Arabia about its preferred oil price and the kingdom will say it has no target.
Bank of Sharjah PJSC plans to issue dollar-denominated bonds later this year to help the UAE lender repay existing debt, people with knowledge of the plan said.