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Saudi prince to discuss reform drive in visits to China and Japan
Saudi Arabia's powerful Deputy Crown Prince Mohammed bin Salman will discuss the kingdom's drive to cut its reliance on oil exports in visits to China and Japan that begin next week, Saudi media and...
World’s largest indoor theme park to open in Dubai
The world's largest indoor theme park is set to open in Dubai this month to lure back some of the tourists and residents who often flee abroad during the scorching desert summer.
In a sandy...
World disasters cost $71 billion in first half of 2016
From earthquakes in Japan to wildfires in Canada, disasters cost the world economy $71 billion (62 billion euros) in the first half of the year, reinsurer Swiss Re said on Thursday.
That marked a 38-percent...
Oil dips in Asia amid Saudi Arabia output boost reports
Oil prices eased slightly in Asia Thursday amid reports OPEC kingpin Saudi Arabia would further raise output in August.
Prices hit five-week highs this week, supported by hopes that a Russian-Saudi cooperation may reach a...
Egypt eyes tough reforms in bid to save economy
Egypt hopes a $12-billion financing deal with the IMF will usher in an economic turnaround but real progress hinges on a tough reform package avoided for decades to stave off unrest.
The financing over three...
Oil trades above $44 on output freeze hopes
Oil traded above $44 a barrel in Asia Monday, extending gains on hopes crude producers would agree to freeze output at a meeting next month, easing a stubborn global supply glut.
Saudi Arabian oil minister...
Oil companies in Iraq agree to restart investment, boost output
Iraq has reached agreement with BP, Shell and Lukoil to restart stalled investment in oil fields the firms are developing, allowing projects that were halted this year to resume and crude production to increase...
Egypt house speaker wants illegal currency dealers executed
Egypt's parliament speaker said in comments published Wednesday he wished to see illegal foreign currency dealers executed, arguing that the nation was facing an "economic war" that must be decisively confronted.
The speaker, Ali Abdel-Al,...
BP logs $1.4bn loss
BP faced another net loss in the second quarter but has now drawn a line under the 2010 Gulf of Mexico oil spill disaster, the British energy giant said Tuesday.
The company posted a loss...
Russia and Turkey discuss restoring economic ties
Russia and Turkey will gradually unfreeze relations in trade and economy which soured after Turkey downed a Russian bomber near the Syrian border last November, Russian Deputy Prime Minister Arkady Dvorkovich told his Turkish...
