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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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Event preparations are on track with the majority of construction activities to be completed a full year ahead of the event opening in October 2020.  (Flickr/Jimmy Baikovicius)
January 31st, 2017 - 06:00 GMT

Dubai's Expo 2020 to award $101M in construction and non-construction deals

Starbucks operates nearly 600 stores in 12 countries in the MENA, employing more than 10,000 staff through its trading partner Alshaya Group, a privately-run Kuwaiti company. (Wikimedia Commons)
January 31st, 2017 - 05:18 GMT

Starbucks pledges to hire 10,000 refugees in response to Trump's visa ban

Airbnb CEO Brian Chesky expressed his support to the Muslim and refugee community in a Facebook message.  (Airbnb)
January 30th, 2017 - 01:00 GMT

Airbnb CEO offers free rooms to those hit by Trump's travel ban

To meet its financing needs, Egypt has sought funding from a variety of sources, from development loans to foreign grants and aid. (Shutterstock)
January 30th, 2017 - 12:56 GMT

After success of $4B Eurobonds, Egypt considers yen and yuan

The UAE received more than 600,000 Russian tourists in the past two years and there are 56 weekly flights between the two countries. (Shutterstock)
January 30th, 2017 - 11:00 GMT

UAE courts Russian tourists with visa on arrival scheme


Renewables are projected to be the fastest growing fuel source, growing at an average rate of 7.6 per cent per year. (Shutterstock)
January 30th, 2017 - 10:00 GMT

Emerging markets are changing global demand for energy: BP

Protestors gather at Los Angeles International airport's Tom Bradley terminal to demonstrate against President Trump's executive order effectively banning citizens from seven Muslim majority countries. (AFP/Konrad Fiedler)
January 30th, 2017 - 09:00 GMT

Trump's visa ban: Gulf airlines forced to turn away US-bound passengers

Lebanon’s banking sector is seen as the backbone of the country’s economy and the assets held by the lenders are more three times the size of economy. (AFP/File)
January 30th, 2017 - 08:00 GMT

Lebanon's big savers: Half of customer deposits held by less than one percent of depositors

Schemes supported by the fund in Jordan are in the areas of energy, education, agriculture, water, roads and sewage networks. (Shutterstock)
January 30th, 2017 - 07:00 GMT

Jordan receives $14.1M from Kuwaiti Fund for Arab Economic Development

Saudi Arabia’s four major cities: Riyadh, Jeddah, Makkah and Medina produce about five million tons of waste products. (Shutterstock)
January 30th, 2017 - 06:01 GMT

Saudi Arabia decides some plastic is not so fantastic

The classic flap bag from Chanel is timeless and therefore it is always in demand and considered the hottest bag to buy.  (Shutterstock/DKSStyle)
January 29th, 2017 - 12:00 GMT

Discounted designer duds: E-commerce drives secondhand luxury items market in MENA

Moody's expects only a moderate uptick in real GDP growth in Jordan to 3.2 per cent for 2017, still below potential. (File photo)
January 29th, 2017 - 11:00 GMT

Jordan's banks to remain resilient despite challenging conditions: Moody's

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