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Iraq’s Central Bank Governor Ali Moshen Ismail highlighted that the nation’s foreign currency reserves will surpass the forecasted $50 billion for 2015 by the International Monetary Fund (IMF) by $10 billion without going into details. In spite of the expected Read more
The ruler of Qatar Sheikh Tamim Bin Hamad Al Thani stressed that the collapse of oil and gas prices that has been going on for more than a year calls for a reduced dependency on the state, announcing that strict Read more
Standard and Poor’s (S&P) rating agency decided to downgrade Saudi Arabia’s long term foreign and local currency sovereign credit ratings from AA- to A+ on Friday citing the effects of the low oil prices but authorities in Riyadh are not Read more
Iran is expected to play an important role in the economic growth of the Middle East and North Africa (MENA) with an increase in its oil exportation according to the semi-annual World Economic Outlook report released by the International Monetary Read more
Chairman Yahya bin Said bin Abdullah Al Jabri of the Special Economic Zone Authority at Duqum (SEZAD) met with the head of Tehran’s Chamber of Commerce, Industries, Mines, and Agriculture Masoud Khansari in Iran on Monday to discuss and encourage Read more
The low oil prices seem to be taking its toll on Saudi Arabia according to Insight Discovery, a financial services market intelligence company, after the oil rich kingdom’s monetary agency withdrew billions of dollars from global asset managers. Countries dependent Read more
The Financial Times revealed that the British Finance Minister is ready to lead a strong business delegation to Iran next year if Tehran respects the historic nuke accord it clinched with world leaders in July, in Vienna. George Osborne, the Read more
The financial support of the United Arab Emirates (UAE) is helping the Hadi government that has recently returned to Aden to bring the city back to life. UAE is part of the Saudi-led coalition and also has soldiers in Yemen Read more
Ahead of President Erdogan’s October visit to Brussels, interim economy minister Nihat Zeybekci told the Turkey-Italy Business Forum, held as part of the National Day of Turkey at Expo Milano 2015, that Ankara wants to be a fully integrated member Read more
Riyadh has been signaled out by the International Monetary Fund (IMF) after consultations about the impact the low oil prices could have on its coffers, especially that almost half of the kingdom’s budget expenses are allocated to salaries, wages and Read more