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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 agreements between Saudi Arabia and China will cover a variety of issues, ranging from energy to space technology. (AFP/Lintao Zhang)
March 16th, 2017 - 12:53 GMT

King Salman visits China, signs deals worth $65B

Governments in the Middle East are committed to energy reforms and have implemented energy reducing tactics. (Shutterstock)
March 16th, 2017 - 12:00 GMT

MENA's renewable energy M&As on the rise: EY

The new rules will allow schools to operate in their existing premises if they follow all safety and security procedures and have a plan to renovate and develop the rented buildings.  (File photo)
March 16th, 2017 - 11:00 GMT

Saudi Arabia u-turns on closing private schools amid backlash

 IATA expects 2017 to see a further decline in profitability. (File photo)
March 16th, 2017 - 10:00 GMT

Protectionist rhetoric will hurt GCC aviation sector: IATA

The drop in the price of oil has caused large-scale damage to the economies of the region. (File photo)
March 16th, 2017 - 08:58 GMT

Drop in MENA banks' liquidity expected in 2017: World Union of Arab Bankers

US and Saudi officials intend to consult on additional steps to deepen commercial ties and promote investment, and to expand cooperation in the energy sector. (AFP/Nicholas Kamm)
March 16th, 2017 - 07:00 GMT

Saudi Deputy Crown Prince, Trump discuss $200B joint investment program

Saudi banks are more profitable than most of their GCC peers. (File photo)
March 16th, 2017 - 06:00 GMT

Banking sector in Saudi Arabia strongest in GCC

The UAE will join the club of nearly 150 nations by implementing a 5 percent VAT in the country from January 1, 2018. (File photo)
March 16th, 2017 - 05:00 GMT

Will electricity, phone bills in UAE also be taxed under VAT?

Lebanon has over 60 small, medium and large insurance companies and some experts believe that this number of firms is too big for a small country. (Shutterstock)
March 15th, 2017 - 01:00 GMT

Lebanon finalizes plan to encourage insurance company mergers

Global experience has shown that VAT training and education is fundamental to ensuring successful VAT implementation. (Shutterstock)
March 15th, 2017 - 12:00 GMT

GCC firms underprepared for VAT introduction: EY

Last year, Egypt’s transportation ministry announced it would double the price of Cairo's metro tickets to EGP 2 before the end of the 2016 fiscal year, but the changes were not implemented. (Wikimedia Commons)
March 15th, 2017 - 11:00 GMT

Cairo Metro Company tunnels into the red

Research indicates that the easiest way to increase the economic complexity of the country’s export basket would be through giving foreign companies with new expertise a chance to produce new goods in the country. (Shutterstock)
March 15th, 2017 - 10:00 GMT

Diversification of Jordan's industrial exports key to competitiveness: Report

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