The World Economic Forum's report showed that geopolitical instability is undermining economic progress in the entire region. (Shutterstock)
September 29, 2016 - 09:00 GMT
Qatar and Saudi Arabia slipped four positions each this year in the global ranking, but still managed to make the global top 30, whilst UAE retains its position as the most competitive Arab country.
U.S. President Barack Obama speaks at the U.S.-Africa Business Forum at the Plaza Hotel, September 21, 2016 in New York City. (AFP/Drew Angerer)
September 29, 2016 - 08:00 GMT
Supporters of the bill said justice for victims' families 'shouldn't be thrown overboard' because of diplomatic concerns.
One Shoura member said the cuts targeted high income people and did not affect ordinary citizens. (File photo)
September 29, 2016 - 08:00 GMT
The decision to cut perks and salaries of Saudi public sector employees has unveiled previously-unknown benefits such as 'Honesty allowances', allowances to typists for typing and provisions for 'appearance'.
Sources in OPEC said the group would reduce output to 32.5 million barrels per day from current production of 33.24 million bpd, according to Reuters. (File photo)
September 29, 2016 - 07:13 GMT
The Iranian oil minister has announced that the informal talks in Algeria have reached an agreement over cutting output, but details are yet to be hammered out.
Foreign workers in Saudi Arabia (AFP/File)
September 28, 2016 - 14:21 GMT
It's not the first protest of its kind in the Kingdom, and is connected to the plummeting price of oil.
The termination notice came as a sudden shock to most of the employees who are struggling to make ends meet due to the delay in salaries and allowances over the past several months. (SPA)
September 28, 2016 - 12:00 GMT
Saudi Oger, which is already struggling to pay thousands of workers in its construction business, has announced 1300 job cuts at its Medina printing complex.
The next formal OPEC meeting will be in Vienna on November 30. (Shutterstock)
September 28, 2016 - 10:00 GMT
Prospects fade for a resolution on cutting oil production, with Saudi and Iranian oil ministers stressing that it is 'not the time for decision making'.
The royal decree included a 20 percent reduction in ministers' salaries and a 15 percent reduction of salaries for Shoura Council members. (File photo)
September 28, 2016 - 05:19 GMT
Saudi's Tadawul fell more than three percent after a royal decree announced a reduction in salaries and perks for public sector staff.
Workers clear rubble from the destroyed MSF hospital in Yemen on August 18. (AFP/File)
September 28, 2016 - 05:00 GMT
MSF released their investigation on the Saudi airstrike on a hospital in northwestern Yemen in August 15 that killed 19 people.
September 27, 2016 - 17:02 GMT
Mariam Saleh Binladin has become the first person from Saudi Arabia to make a solo assisted crossing of the English Channel, the world’s most celebrated open water swim.
Headquarters of the Saudi central bank, the Saudi Arabian Monetary Agency (SAMA) in Riyadh. (Twitter)
September 27, 2016 - 12:30 GMT
The Saudi Arabian Monetary Agency has announced that the SR20 billion of time deposits will be given to banks on behalf of government entities.
While Dubai, was the top ranked destination city in the region, Abu Dhabi was reported as the fastest-growing in the region with a growth rate of 81 percent. (File photo)
September 27, 2016 - 10:14 GMT
Mastercard Global Destinations Cities Index provides rankings of the 132 most visited cities around the world and projects annual visitor volume and spend estimates.
The royal decree also includes a 15 percent reduction in benefits toward a car and housing for Shoura members. (File photo)
September 27, 2016 - 05:41 GMT
A 20 percent salary reduction for ministers and a freeze on hiring of non-essential expats for the private sector are some of the latest budget-trimming measures to be announced in Saudi Arabia.
Houthi Movement members with guns gather to protest before they take the road to front lines, where they conflict against President of Yemen Abd Rabbuh Mansur Hadi's unities, in Asir province of Sanaa, Yemen on August 25, 2016. (Twitter/Anadolu Agency)
September 26, 2016 - 13:00 GMT
The Houthi gains have prompted Saudi Arabia and its Arab allies to launch a massive air campaign in an effort to reinstate Hadi's government.
Yemenis stand on a rooftop after an airstrike carried out by the Saudi-led coalition in the Yemeni capital Sanaa on September 25, 2016. (AFP/Mohammed Huwais)
September 26, 2016 - 06:00 GMT
The UK refused to back the Netherlands proposal that the UNHCR launch a formal inquiry into Saudi Arabia's intervention in Yemen.