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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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If the new consumption tax is applied then a VAT of between 50 fils and Dh2.75 could be added to the overall amount of remittances from the UAE. (Facebook)
April 2nd, 2017 - 01:15 GMT

Will UAE apply VAT on expat remittances too?

The company has delivered a 25 percent reduction in global headcount with over 1,000 positions reduced across its global operations. (Taqa)
April 2nd, 2017 - 12:51 GMT

Abu Dhabi's 'Taqa' announces full-year financial results, $5.2B net loss in 2016

The law allows granting the ID to any GCC residents who have stayed more than six months in the year since their entry date to Bahrain. (Shutterstock)
April 2nd, 2017 - 11:40 GMT

Bahrain to grant IDs to GCC residents in investment push

Moody’s anticipate a mild real GDP shrinkage of 0.2 percent in 2017 due to lower oil production. (Pixabay)
April 2nd, 2017 - 11:17 GMT

Saudi Arabia’s fiscal position remains strong: Moody's

Kuwait's oil export receipts declined by 14.1 percent in 2016 to KD 12.5 billion ($ 41 billion), its lowest level in just over a decade. (Pixabay)
April 2nd, 2017 - 10:58 GMT

Kuwait’s trade surplus drops to 11-year low amid lower oil prices

More than 4.4 million hotel guests were recorded in Abu Dhabi over the course of 2016, 4.9 million are expected in 2017. (Pixabay)
April 2nd, 2017 - 09:26 GMT

Abu Dhabi: Statistics show unprecedented growth in hotel reservations

The project will cover a total area of 400,000 square metres and will be built through two stages. The construction work for the first phase will start by next year.
April 2nd, 2017 - 08:20 GMT

Oman unveils $1B tourism project for Muscat

According to the report, Dubai saw nearly 11.5 percent fewer new investment projects last year. (Pixabay)
April 2nd, 2017 - 08:04 GMT

Foreign direct investment in Dubai falls 11 percent: Report

The healthcare sector in the UAE is changing fast to adapt to the demands of a younger, more health-conscious population asking for preventive rather than curative care. (File photo)
April 2nd, 2017 - 05:00 GMT

Healthcare the next booming industry in the UAE: Study

The metro development will transfer the line from its current mechanical system to a communications-based train control system. (AFP/File)
April 1st, 2017 - 09:00 GMT

Europe's Investment Bank wants to finance development of Cairo metro, Alexandria tramway

The refinery was heavily damaged during Iraq’s 1990 invasion of Kuwait before being restored to full operations at the end of the war in 1991. (File photo)
April 1st, 2017 - 07:00 GMT

Kuwait shuts down 50-year-old oil refinery, launches clean fuels project instead

The absence of a state budget since 2005 has left the country’s battered economy burdened with over $74 billion in public debt. (AFP/File)
March 31st, 2017 - 12:00 GMT

Lebanon releases first state budget since 2005, vows to reduce deficit

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