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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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Approximately a year ago, ABK completed the acquisition of Piraeus Bank Egypt for $150 million. (LinkedIn)
December 28th, 2016 - 12:30 GMT

Al Ahli Bank of Kuwait launches rebranded ABK in Egypt after Piraeus Bank takeover

MEA Chairman Mohamad al-Hout announced previously that the Middle East Airlines is negotiating the acquisition of four additional wide-body aircrafts to beef up its current fleet. (Wikimedia Commons)
December 28th, 2016 - 12:00 GMT

Lebanon: SGBL to finance MEA's Airbus purchase

Exhibition stand at Playworld Middle East in Dubai. (Nstands.com)
December 28th, 2016 - 11:00 GMT

It pays to play: UAE drives MENA demand for children's toys

Egypt currently has 12 natural gas field development projects underway worth a total of $33 billion in investment
December 28th, 2016 - 10:00 GMT

Egypt: Italy's Eni to explore two more Mediterranean gas fields

The new total charges will bring in more than OMR100m annually, if passenger numbers remain at similar levels. (File photo)
December 28th, 2016 - 09:06 GMT

The cost of Oman's new 'security tax' will be passed on to passengers

The delay stems from an agreement between Emirates and engine supplier Rolls-Royce Group Holdings. (Wikimedia Commons)
December 28th, 2016 - 07:30 GMT

Airbus confirms delivery delay of 12 A380 jets to Emirates

Tourism in Egypt has been struggling since Russia and a number of European countries suspended in late 2015 passenger flights to the popular Egyptian resort of Sharm El-Sheikh. (Shutterstock)
December 28th, 2016 - 06:32 GMT

Egypt's central bank announces $262M fund to upgrade tourist facilities

Asfan's first phase of development was implemented on 1.2 million sq. meters following high technical standards. (File photo)
December 28th, 2016 - 05:38 GMT

Saudi Arabia's new industrial smart city takes shape in Asfan

144,000 people also visited Oman via cruise ships in 2016, ranking Germans, Britons, Italians, Spanish and Americans as the top five tourists. (File photo)
December 27th, 2016 - 01:00 GMT

Oman enjoyed rise in tourism in 2016

After two years of back to back spending decline due to lower oil prices, the spending for 2017 is budgeted to rise eight percent in 2017. (File photo)
December 27th, 2016 - 12:00 GMT

Saudi stocks jump 100 points on release of 2017 budget

The six sectors that the Strategy will focus on include aerospace, maritime, pharmaceuticals and medical equipment, aluminium and fabricated metals, food and beverages, and machinery and equipment. (File photo)
December 27th, 2016 - 11:00 GMT

Dubai Industrial Strategy 2030: Sheikh Hamdan issues directives to boost implementation

The government was supposed to re-impose the Capital Gains Tax next year, but in November it further postponed it to additional three years. (File photo)
December 27th, 2016 - 10:00 GMT

Egypt: Mismanaged implementation of capital gains tax results in $188M of lost revenue

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