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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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OPEC's production agreement enters into force in January, though producers are already pumping oil at record levels. (File photo)
December 14th, 2016 - 08:00 GMT

IEA cautions against high-risk oil investment in wake of OPEC deal

SeaWorld Abu Dhabi will be the company’s first new park without orcas, and will integrate up-close animal experiences, mega attractions and an aquarium. (SeaWorld)
December 14th, 2016 - 07:00 GMT

SeaWorld Abu Dhabi to open on Yas Island by 2022

Egypt has been negotiating billions of dollars in aid from various lenders to help revive its economy, battered by political and economic upheaval since a 2011 uprising. (Shutterstock)
December 14th, 2016 - 06:25 GMT

AfDB approves second tranche of $500M loan to Egypt

Dubai has been on cloud companies’ radar as most of the top tech companies have a base in the emirate. (File photo)
December 14th, 2016 - 05:19 GMT

Amazon Web Services to take on Alibaba Cloud with new Dubai and Bahrain offices

Flights on the service are complimentary through JetSmarter’s membership programme and members can also create their own JetShuttle flight for half the price of a traditional charter. (JetSmarter)
December 13th, 2016 - 12:00 GMT

JetSmarter app valued at $1.5B after latest round of royal, celebrity financing

The expected VAT laws are not ‘business as usual’ and may require several months for companies to successfully integrate a VAT functionality into their systems. (Shutterstock)
December 13th, 2016 - 11:00 GMT

VAT in GCC to generate $25B a year: EY

Dubai announced a visa-on-arrival scheme for Chinese visitors in September to boost tourism and trade. (File photo)
December 13th, 2016 - 10:00 GMT

Dubai's visa strategy for Chinese visitors pays off

The new banknotes will be more secure to reduce forgeries. (File photo)
December 13th, 2016 - 09:00 GMT

Saudi Arabia's new currency is a tribute to King Salman

A framework deal signed last year called for up to $5 billion in total investments in offshore Egypt. (File photo)
December 13th, 2016 - 08:00 GMT

Eni sells 30 percent stake in Zohr gas field to Russia's Rosneft for $1.6B

Dubai is aiming for an environmentally-friendly energy mix, with 25 percent from solar energy, 7 percent each from nuclear power and clean coal, and 61 percent from gas by 2030. (WAM)
December 13th, 2016 - 07:02 GMT

ACWA-DEWA JV receives $2.47B financing for clean coal project

Expats will no longer need approval from their existing employer to change jobs if they complete the length of a fixed-term contract. (File photo)
December 13th, 2016 - 06:00 GMT

Qatar's new labor law abolishes controversial kafala system

A work plan for the first stage of development calls for about 1.2 billion cubic feet of natural gas per day through an investment of between $3.5 billion and $4 billion. (File photo)
December 13th, 2016 - 05:18 GMT

Israel's Leviathan gas deals estimated to reach $2B

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