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Indian Rupee hits record low as oil shock tests RBI’s firepower
April 30th, 2026 - 08:49 GMT
Dr. Mansour Al-Maswari

Mansour Al-Maswari

Indian Rupee hits record low as oil shock tests RBI’s firepower

ALBAWABA- India’s currency is under renewed strain, with the rupee sliding to a record low against the U.S. dollar in late April, intensifying pressure on the Reserve Bank of India to steady markets while shielding the broader economy. The rupee weakened to around 96 per dollar on Thursday, marking a sharp decline from levels near 91–92 earlier this year and extending a multi-year slide that has eroded more than 12% ...
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Yas Mall in Abu Dhabi. (Aldar Properties)
April 19th, 2017 - 11:06 GMT

Oversupply of retail space in Abu Dhabi pushes rental prices down 58 percent: Report

Somalia has declared a state of emergency over severe drought and 2.9 million of its population face a food crisis that could lead to famine, according to the UN. (AFP)
April 19th, 2017 - 09:19 GMT

UAE's Khalifa Foundation builds largest concrete dam in drought-struck Somalia

The Kingdom has announced the launch of more than 30 solar and wind projects as part of a plan to reduce its dependence on oil. (Pixabay)
April 19th, 2017 - 08:10 GMT

Saudi Arabia kicks off $50B renewable energy plan to break oil dependence

Both sides are developing a shared field in the Persian Gulf, from which Iran has started to produce oil. (File photo)
April 18th, 2017 - 07:00 GMT

'If Qatar expands its energy production we will expand too,' says Iran

Saudi Oger has attracted significant media attention lately as tens of thousands of foreign workers were left destitute and stranded, unpaid for months before being laid off. (AFP)
April 18th, 2017 - 05:25 GMT

Saudi Oger sells 2.8 percent stake in Saudi Investment Bank to cover debts

Egypt expects the first oil shipment from Iraq to reach on May 1, 2017. (File photo)
April 18th, 2017 - 05:14 GMT

Egypt inks first oil deal with Iraq

Supporters of Algerian President Abdelazziz Bouteflika gather during a political meeting ahead of the country's presidential election in 2014. (AFP/Farouk Batiche)
April 18th, 2017 - 04:59 GMT

Algeria: Dirty politics, corruption rock May 4 parliamentary elections

Saudi Arabia hopes to see at least 1 million foreign workers leave the country during this year's three-month grace period. (AFP/File)
April 18th, 2017 - 04:31 GMT

Saudi Arabia Deports More Than 5.5 Million Expat Workers in Four Years

The new owner, a subsidiary of Abu Dhabi Media Investment Corporation, will move 'The National' to its new headquarters in twoFour54 starting from July 1, 2017. (Facebook)
April 18th, 2017 - 04:06 GMT

Abu Dhabi's 'The National' cuts 25 percent of staff under new owner

With these projects, Tunisia says it will generate 472 jobs in different regions of the country for the unemployed university graduates. (AFP/File)
April 18th, 2017 - 03:24 GMT

Tunisia launches $2.8M green projects for young graduates

Statistics show that electricity demand in the MENA region has been growing rapidly, driven by population growth and urbanization, industrialization, and low electricity prices. (Pixabay)
April 18th, 2017 - 02:53 GMT

MENA needs to invest over $300B to meet electricity demand

President Recep Tayyip Erdogan owes his success largely to the growth of the Turkish economy in the past decade, but he must keep in mind that more direct investment requires political stability and a reliable legal framework. (AFP/File)
April 18th, 2017 - 02:34 GMT

What does Turkey's referendum mean for foreign investors?

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