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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 March 2016, Dubai Islamic Bank successfully closed a $500M sukuk issuance. (File photo)
May 23rd, 2016 - 07:00 GMT

GCC sukuk issues reach $5.2B this year

The agreement includes establishment of a mechanism to employ and a guarantee of the rights and duties of the domestic workers as also the employers, as per international norms. (File photo)
May 23rd, 2016 - 06:00 GMT

Maid to measure: Saudi, Indonesia strike deal to improve conditions for domestic help

The total number of multinational companies that signed agreements in Al Mazunah Free Zone exceeds 75. (Al Mazunah)
May 23rd, 2016 - 05:00 GMT

Oman's Al Mazunah free zone marks increase in international investments

The cabinet is seeking to create conditions that will help enhance trust, expedite investments and encourage additional investments in the gas sector, including the entry of new investors. (File photo)
May 23rd, 2016 - 04:09 GMT

Israeli cabinet approves new natural gas development plan

Jordan used to export 180,000-200,000 tonnes of fruit and vegetables to Iraq each year but were forced to export via Kuwait after the border crossing was closed. (File photo)
May 22nd, 2016 - 12:00 GMT

Hopes for agricultural sector revival with 'imminent' reopening of Jordan-Iraq border crossing

Officials from Russia (L) and Egypt (R) sign an agreement to build Egypt's first nuclear power plant as Egyptian President Abdel Fattah al-Sisi (C) in November 2015. (Facebook)
May 22nd, 2016 - 11:00 GMT

Egypt approves $25B Russian loan for Dabaa nuclear power plant construction

Saudi's retail sector has been experiencing the same crunch as in other Gulf markets, brought on by the steep dive in oil prices and the fallout this had on consumer spending habits. (Damas)
May 22nd, 2016 - 10:49 GMT

Damas expansion: UAE retail jewelry chain sees sparkle in Saudi market

The IMF standby arrangements allow the fund to respond quickly to countries’ external financing needs, and to support policies designed to help them emerge from crisis, with lending tailored to member countries' needs.
May 22nd, 2016 - 10:00 GMT

Iraq: New $5.4B IMF loan conditional on reducing $20.5B budget deficit

Saudi has been pushing for a freeze deal since February so they needed to rely on stocks to meet any rise in customers’ demands at home and abroad while keeping their output flat. (File photo)
May 22nd, 2016 - 08:35 GMT

Saudi's oil stockpiles reach lowest level in 18 months as exports soar

Middle East architects and building owners are increasingly demanding global best practices in energy efficiency.   (Hunter Douglas)
May 22nd, 2016 - 08:06 GMT

Energy-efficient buildings can save $3.5B in the GCC

Sheikh Mohammad and Tim Cook met in 2014 during the CEO’s first visit to the UAE. (Dubai Media Office)
May 22nd, 2016 - 07:32 GMT

Apple to scale up UAE presence

The Western powers also called on the Islamic Republic to create a favorable environment for investors to do business in the country. (File photo)
May 22nd, 2016 - 07:20 GMT

US, EU encourage international investment in Iran

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