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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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The retail giant, which acquired UAE e-commerce website Souq.com for an undisclosed sum in March, does not currently have a permanent base in the country. (File photo)
April 10th, 2017 - 12:23 GMT

Souq's new owner Amazon on the hunt for offices, logistics hub in Dubai

Saudi Arabia has announced that no income tax will be imposed on Saudi citizens under the economic reforms being introduced in the oil-rich kingdom. (AFP/Fayez Nureldine)
April 10th, 2017 - 12:04 GMT

Saudi Arabia announces tax-free income for Saudi citizens

Oman Oil Company headquarter building in Muscat, Oman. (Shutterstock)
April 10th, 2017 - 11:46 GMT

Oman mulls short-term job contracts for Omanis, expats

Sony is planning new product launches and a new business strategy that will help it gain market share in the company’s focus categories, namely TV, digital imaging and audio products. (Pexels)
April 10th, 2017 - 10:56 GMT

Sony eyes 20 percent Middle East growth in 2017

Palestinians work at the office of Red Crow, a startup that monitors security developments and sends real-time alerts to clients. (AFP/Abbas Momani)
April 10th, 2017 - 10:12 GMT

Middle East’s startups raise over $1.4B funds: Report

UAE-based DP World wants to increase the capacity of Sokhna port in Egypt. (AFP/File)
April 10th, 2017 - 09:37 GMT

Dubai's DP World has big plans for Egyptian port

'I will eat you alive,' Philippine President Rodrigo Duterte told terrorists during an address to the Filipino community in Laos in September 2016. (AFP/Ye Aung)
April 10th, 2017 - 08:22 GMT

Philippines' Duterte on GCC tour to discuss investment, workers' rights

Banque du Liban in Beirut. (File photo)
April 9th, 2017 - 01:40 GMT

Lebanon: Financial inflows to jump 20 percent amid better economic conditions

The smart city will accommodate 25,000 to 40,000 households and construction is expected to begin in 2019. (File photo)
April 9th, 2017 - 01:22 GMT

South Korean consortium wins bid to build smart city in Kuwait

Qatar has one of the highest penetration rates in the MENA region of 176 percent behind only the UAE and Bahrain. (Al Bawaba)
April 9th, 2017 - 12:46 GMT

Qatar: Telecom sector’s share of GDP up 0.4 percent

The full impact of the recent corporate tax increase in Oman and higher royalty charges for telecom companies will result in earnings stress for listed companies during the first quarter of 2017. (Al Bawaba)
April 9th, 2017 - 11:44 GMT

Oman: Listed companies report 20 percent fall in net earnings

The recent slump in oil prices has constrained activity for consultants in the GCC. In fact, the market has slowed to about 6 percent growth from 15 percent in 2014. (Shutterstock)
April 9th, 2017 - 10:19 GMT

GCC consulting sector hit by lower oil prices: Report

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