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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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Egypt owes $3.5B  to foreign oil companies but a foreign currency shortage has made the drawing down of those debts more difficult. (File photo)
February 9th, 2017 - 10:00 GMT

Egypt repays $630M debt to Eni for Zohr gas field development

The new directive comes following the abrupt Saudization of the kingdom’s mobile market last year. (File photo)
February 9th, 2017 - 09:00 GMT

Saudization directive for motor insurance industry comes into effect July 2

The report indicated that Jordan is placing a heavy emphasis on solar and wind power projects. (PV magazine/Samer Zawaydeh)
February 9th, 2017 - 08:00 GMT

Clean energy investments gain momentum in Jordan

Aramco's IPO, which is predicted to raise about $100 billion, is set to yield millions of dollars in fees and push Moelis up in global investment bank rankings. (File photo)
February 9th, 2017 - 07:00 GMT

Saudi Aramco names boutique bank Moelis to advise on historic IPO

The Arab Bank announced over a week ago that its net profits after taxes rose by 20 percent to $533 million in 2016 compared to $442 million in 2015. (File photo)
February 9th, 2017 - 06:00 GMT

Lebanon: Hariri family offloads 20 percent stake in Arab Bank for $1.12B

In addition to stadiums, Qatar is also undertaking huge and costly projects such as roads, a new airport and hospitals. (File photo)
February 9th, 2017 - 05:18 GMT

Qatar's World Cup 2022 splurge reaches nearly $500M a week

The partnership will see the two setup the Professional Council for Tourism and National Heritage focused on boosting Saudization. (File photo)
February 8th, 2017 - 12:00 GMT

Saudization drive targets tourism sector

OPEC countries agreed with exterior independent producers, including Russia, to reduce their product around 1.8 million barrels per day for six months starting from January.  (File photo)
February 8th, 2017 - 11:00 GMT

Oil production cut compliance rate hits highest level in history of OPEC

The Lilyvale Solar Farm in Queensland is expected to begin operations towards the end of 2018. (Abdul Lateef Jameel Energy)
February 8th, 2017 - 10:00 GMT

Abdul Latif Jameel Energy's FRV seals deal for solar energy farm in Australia

A part of the gas will be consumed in Oman and the rest of it turned to liquefied natural gas (LNG) for export to target markets.  (Chess Subsea Engineering)
February 8th, 2017 - 09:00 GMT

Oman renews undersea gas pipeline agreement with Iran

An S&P study found that 50 percent of sukuk investors were based in the GCC.  (File photo)
February 8th, 2017 - 08:00 GMT

Muted GCC sukuk market unrelated to lower bank liquidity: S&P

As many as 9,199 Emiratis are currently registered in the ministry’s database, of which 7,546 are women. (File photo)
February 8th, 2017 - 07:19 GMT

UAE kicks off Emiratization initiative for private sector

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