Economy

Home Economy

Qatari state fund buys stake in NY's Empire State Building

Qatar's sovereign wealth fund has made an iconic purchase in America — a stake in the company that owns New York's Empire State Building. The...

Saudi prince to discuss reform drive in visits to China and Japan

Saudi Arabia's powerful Deputy Crown Prince Mohammed bin Salman will discuss the kingdom's drive to cut its reliance on oil exports in visits to...

World's largest indoor theme park to open in Dubai

The world's largest indoor theme park is set to open in Dubai this month to lure back some of the tourists and residents who...

World disasters cost $71 billion in first half of 2016

From earthquakes in Japan to wildfires in Canada, disasters cost the world economy $71 billion (62 billion euros) in the first half of the...

Oil dips in Asia amid Saudi Arabia output boost reports

Oil prices eased slightly in Asia Thursday amid reports OPEC kingpin Saudi Arabia would further raise output in August. Prices hit five-week highs this week,...

Egypt eyes tough reforms in bid to save economy

Egypt hopes a $12-billion financing deal with the IMF will usher in an economic turnaround but real progress hinges on a tough reform package...

Oil trades above $44 on output freeze hopes

Oil traded above $44 a barrel in Asia Monday, extending gains on hopes crude producers would agree to freeze output at a meeting next...

Oil companies in Iraq agree to restart investment, boost output

Iraq has reached agreement with BP, Shell and Lukoil to restart stalled investment in oil fields the firms are developing, allowing projects that were...

Egypt house speaker wants illegal currency dealers executed

Egypt's parliament speaker said in comments published Wednesday he wished to see illegal foreign currency dealers executed, arguing that the nation was facing an...

BP logs $1.4bn loss

BP faced another net loss in the second quarter but has now drawn a line under the 2010 Gulf of Mexico oil spill disaster,...

Latest News