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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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In 2014, Egypt embarked on a plan to introduce a number of fiscal reforms, including fuel subsidy cuts that increased prices up to 78 percent, as well as imposing new taxes to ease a growing budget deficit. (File photo)
November 30th, 2016 - 05:25 GMT

Subsidies reappear in Egypt's second phase of reforms

A special five-member committee has finalized the names of the people killed or injured in the crash after comparing them with the names submitted by the Ministry of Health and the Civil Defense. AFP/File)
November 29th, 2016 - 01:00 GMT

Mecca crane crash: Victims' families file lawsuits

The GCC region is one of the biggest employers of expatriates in the world, and consequently, a large source of remittances, which hit more than $80 billion in 2015. (File photo)
November 29th, 2016 - 12:00 GMT

GCC tax on expats' income and remittances would be highly regressive: IMF

At the moment, visas can take up to 12 months to be processed and migrant workers have to come to Oman on specific full-time work visas for a period of two years.  (Shutterstock)
November 29th, 2016 - 11:00 GMT

Oman studies streamlining visa issuance process

British architectural firm Foster + Partners completed the schematic design of the stadium earlier this year. (Architect Weekly)
November 29th, 2016 - 10:00 GMT

FIFA 2022 World Cup: Qatari-Chinese JV awarded construction contract for Lusail stadium

The shipbuilding complex is expected to cost more than SR20 billion ($5.32 billion) on completion. (File photo)
November 29th, 2016 - 09:00 GMT

Saudi Aramco's colossal maritime complex to break ground in 2018

Bilateral trade between Oman and Iran is likely to touch $5 billion within five years, from the current $1 billion.  (File photo)
November 29th, 2016 - 08:00 GMT

Iran's exports to Oman increase 400 percent post-sanctions

Uber Egypt faces challenges with patchy network coverage and inaccurate GPS maps. (File photo)
November 29th, 2016 - 07:00 GMT

Uber Egypt envisions launch of UberPOOL carpooling service

Through the Netherlands’ support, up to 8,000 children will be able to enrol in the formal education system after the end of level exam. (WFP)
November 29th, 2016 - 06:00 GMT

The Netherlands donates $63.6M towards alleviating refugee crisis in Jordan

Last week, J.P. Morgan Chase & Co. said there was a 60 percent chance of a successful OPEC meeting, which from its perspective would put the price for Brent at the end of 2017 at $60 per barrel. (Shutterstock)
November 29th, 2016 - 05:17 GMT

Oil prices swing wildly as OPEC deal 'too close to call'

Saudi Arabia aims to become the main destination for conferences and exhibitions in the Middle East by 2020. (Shutterstock)
November 28th, 2016 - 12:00 GMT

Mecca makes a move for share of MENA's MICE market

YNAP’s existing multi-brand online stores in the region are Net-A-Porter, Mr Porter, Yoox and The Outnet.
November 28th, 2016 - 11:00 GMT

Yoox partners with Alabbar to dominate MENA online luxury shopping

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