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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 Saudi government recently indicated that it will be implemented in the first quarter of 2018, against an earlier intention to adopt VAT by January 1, 2018. (Shutterstock)
January 12th, 2017 - 11:00 GMT

Lack of legislation risks delay of GCC VAT implementation

In a Cairo meeting of the Organisation of Arab Petroleum Exporting Countries (OAPEC) last month, El-Molla said that Egypt aims to import 1-2 million barrels per month from Iraq.  (Neniraq.com)
January 12th, 2017 - 10:00 GMT

Iraq to begin oil shipments to Egypt 'within days'

Some 400 Emirates based F&B companies will be in attendance at the world’s largest annual food event, making it the highest number ever from within the UAE. (Shutterstock)
January 12th, 2017 - 09:00 GMT

Hungry? UAE gears up for world's largest food and hospitality show

Dubai, Abu Dhabi and Doha property markets have emerged stronger owing to international projects, foreign investment flows and growing population. (Shutterstock)
January 12th, 2017 - 08:00 GMT

GCC property market holds up to cheap oil

Donald Trump visited the Trump-branded golf course at Damac's Akoya Development in 2014. (Twitter/Damac)
January 12th, 2017 - 07:00 GMT

Damac confirms Trump turned down $2B Dubai property proposal

Economic activity in the oil and gas sector was weak across most of the GCC last year. (AFP/File)
January 12th, 2017 - 06:00 GMT

Weaker GCC economy threatens credit ratings: S&P

The partnership with RTA is a giant step for Uber and demonstrates RTA’s keenness to forge partnership with the private sector.  (Arabian Supply Chain)
January 12th, 2017 - 05:00 GMT

Dubai RTA partners with Uber to deploy 14,000 cars

The UAE also plans to increase the percentage of skilled workers – including those who hold a diploma or above – to 40 per cent of the workforce by 2021. (Twitter)
January 11th, 2017 - 12:29 GMT

Better behave: UAE to require good-conduct certificates for expat workers

Egypt's sole gold-exporting mine owned by Australian company Centamin, had paid the government $40 million in profits and $80 million in concession fees since July 2016. (Shutterstock)
January 11th, 2017 - 12:00 GMT

Egypt goes for gold exploration with upcoming mining tenders

A desire to diversify investment beyond the domestic market has also been a key driver for Saudis investing in Dubai real estate. (Shutterstock)
January 11th, 2017 - 11:09 GMT

Saudi thirst for Dubai properties undeterred by low oil prices

Urban consumer inflation hit an eight-year high of 19.4 percent in November, when Egypt abandoned its currency peg of 8.8 to the dollar.  (Shutterstock)
January 11th, 2017 - 10:00 GMT

Egypt: Inflation reaches second eight-year high as pound continues to plummet

Arrivals at Jeddah Airport. (AFP/Fayez Nureldine)
January 11th, 2017 - 09:00 GMT

Saudi Arabia to fast-track business visas for foreign investors within 24 hours

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