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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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Earlier this year Shuaa Capital laid of 15 percent of its workforce. (File photo)
December 27th, 2016 - 09:00 GMT

Dubai's Shuaa Capital buys 14 percent stake in Bahrain's Khaleeji Commercial Bank

Talks will also focus on accelerating the start of the planned oil and gas pipeline project from Iraq to Jordan. (File photo)
December 27th, 2016 - 08:00 GMT

Discussions put Jordanian-Iraqi oil pipeline construction back in the spotlight

Years of sanctions have left Iran with outdated and unsafe aircraft. (File photo)
December 27th, 2016 - 07:00 GMT

Iran strikes half-price deal on Boeing jets

The introduction of various taxes on expat visas over the next three years is set to push Saudisation and consequently increase labour costs for the corporate sector. (File photo)
December 27th, 2016 - 06:06 GMT

Saudi Arabia's 2017 budget: Higher taxes will increase labor costs

Former UN Secretary-General Ban Ki-moon with TWAS Executive Director Romain Murenzi, who chaired the study panel to create the Technology Bank. (UN-OHRLLS/ Louise Stoddard)
December 26th, 2016 - 08:14 GMT

UN to establish 'milestone' technology bank, headquartered in Turkey

In recent months, a number of European airlines also resumed direct flights to the popular South Sinai tourist destination, including Turkish, Belgian and Polish companies. (YouTube)
December 25th, 2016 - 01:10 GMT

EgyptAir resumes cargo flights to Moscow over a year after Russian plane crash

The crash in oil prices produced a deficit of SR 366 billion in 2015.  (AFP/FIle)
December 22nd, 2016 - 02:36 GMT

Saudi Arabia's 2017 budget: National deficit reduced to $79B

At present the legislation allows commissions made on the sale of financial products that are sold in the UAE, like some other markets, to be paid up front. (Shutterstock)
December 22nd, 2016 - 11:00 GMT

UAE to reform regulations on controversial commission-based sales of financial products

A recent study discovered that 90 percent of mobile banking applications have serious security problems that could potentially compromise user data. (Shutterstock)
December 22nd, 2016 - 10:00 GMT

Hacker alert: Mideast users of smart devices to reach 598 million in 2018

Comparing revenue items for 2017 with 2016, the government expects an increase in fees revenues by six per cent. (Dubai Media Office)
December 22nd, 2016 - 09:00 GMT

Dubai's 2017 budget: Projected expenditures increased to $12.8B

Egypt has recently witnessed an acute shortage in imported medicines after their prices increased. (AFP/Anwar Amro)
December 22nd, 2016 - 08:00 GMT

Egypt's pharmacists plead for presidential intervention against medicines price hike

Although a lower deficit in 2016 is encouraging, Saudi Arabia faces a tough task to balance its budget by 2020. (File photo)
December 22nd, 2016 - 07:00 GMT

Saudi Arabia's 2017 budget: More spending cuts expected

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