Saudi energy giant Aramco is ready for a two-stage IPO but the timing is up to the government, its chief executive said Tuesday, flagging a possible foreign listing as part of the offering.
A slowdown in Dubai’s economy since 2014 is forecast to carry on through 2022 due to low oil prices, fallout from the U.S.-China trade war and political turmoil, Standard and Poor’s said Tuesday.
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.
Since the launch of its strategy to revive global oil markets three years ago, one of the biggest challenges faced by OPEC and its allies is that not all the...
The U.S. briefly became the world’s No. 1 oil exporter as record shale production found its way to global customers, and there are prospects for more.
OPEC+ responded to growing concerns that a slowing economy could tip the oil market back into surplus by applying additional pressure to members that haven’t...
Algeria signaled it may reverse its long-held aversion to outside financing and lift some foreign-investment restrictions as the protest-hit OPEC member...
Lebanon is still considering the option of a new dollar debt sale and has not yet announced any issuance, Finance Minister Ali Hasan Khalil told Reuters...
Demand for cash dollars is "nothing unusual" and banks are satisfying client requests to exchange Lebanese pounds for the U.S. currency, senior banking...
The euro rocketed to a 17-day high against the dollar Friday as German government bond yields surged on the back of investors thinking the European Central...
The London Stock Exchange emphatically rejected the Hong Kong bourse’s $39 billion takeover offer Friday, opting to stick with its planned purchase of data...
Egypt’s inflation eased in August to its lowest level since the start of 2013, paving the way for what could be the second-biggest push to cut interest rates...
Saudi Arabia’s new energy minister said Monday that the world’s top oil exporter would keep working with other producers in order to achieve market balance...
Saudi Arabia’s king appointed his son, Prince Abdul-Aziz bin Salman, as energy minister Sunday, replacing Khalid al-Falih and for the first time handing the...
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...
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...
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...
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.
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...
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.
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...
Economists and investment banks say Egypt’s economic reforms have been a huge success.
The United States warned businesses against taking part in an annual trade fair in the Syrian capital opening Wednesday, saying participants would expose...
Emerging market investors are piling back into safer asset classes as mounting trade tensions spell the end of this year’s clamor for yield.
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...
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...