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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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Debit cards for accounts in foreign currency can still be used abroad up to a limit of $100,000 as per a 2014 directive. (File photo)
June 30th, 2016 - 12:00 GMT

Egypt: Foreign currency crisis prompts ban on use of debit cards overseas

The contract comes shortly after Italian shipbuilder Fincantieri won a bid to supply the Qatari navy with seven new vessels.  (Gadget Style)
June 30th, 2016 - 11:00 GMT

Qatar awards MBDA Italia $1.1B missile contract

The merger is part of Abu Dhabi economic reforms which commenced in 2001. (Erem News)
June 30th, 2016 - 10:00 GMT

Abu Dhabi's Mubadala, IPIC investment funds to merge

More than 2.5 million Brits were planning trips to Turkish resorts this year.  (AFP/Ozan Kose)
June 30th, 2016 - 09:00 GMT

Istanbul Airport attack: Another strike against Turkey's crippled tourism industry

PDO Managing Director said the money raised will help to finance business plans, as well as create more jobs and training opportunities for Omanis. (PDO)
June 30th, 2016 - 07:00 GMT

Petroleum Development Oman raises $4B for project financing

UAE Minister of Economy and General Civil Aviation Authority Chairman Sultan Bin Saeed Al Mansouri said on May 30 the UAE had reached a “gentleman’s agreement” to discuss the allegations with the US. (File photo)
June 30th, 2016 - 06:15 GMT

Airline subsidy row: Etihad not invited to participate in US meeting

Italy has repeatedly complained that Egyptian authorities have not cooperated to find those responsible for the 28-year-old student's death. (File photo)
June 30th, 2016 - 05:44 GMT

Italy suspends aviation supplies to Egypt over Regeni murder investigation

Hassan Nasrallah claims that US sanctions will be ineffective because of Hezbollah's secure, direct income from Iran and not through Lebanese banks. (File photo)
June 30th, 2016 - 04:53 GMT

US urges Iran to stop Hezbollah funding

This transaction constitutes the third investment of EuroMena III after its recent investment in Elephant in Nigeria and Jasmin in Tunisia. (The Daily Star)
June 29th, 2016 - 12:00 GMT

Credit Libanais gets $20M EuroMena Fund injection

The recovery for crude oil prices comes as economic leaders meet in Portugal to review coordinated monetary policies in the globalized world. (Shutterstock)
June 29th, 2016 - 11:00 GMT

Oil prices inch up slowly after post-Brexit plunge

The Kingdom's credit rating by Moody's is currently  B1 stable.
June 29th, 2016 - 10:00 GMT

Jordan's new IMF program will give positive outlook on credit rating: Moody's

Workers outside the explosions and attacks site outside Ataturk airport's international arrivals terminal. (AFP/Ozan Kose)
June 29th, 2016 - 09:13 GMT

Gulf airlines suspend flights to Istanbul following terror attack

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