In Iraq, a national lockdown to halt the coronavirus pandemic has found some unexpected fans: local businesses who no longer have to compete with Turkish, Iranian or Chinese imports.
Financial fallout from the coronavirus crisis could hasten mergers or retreats by some of Turkey's private and foreign-owned banks, ceding more ground to state-owned lenders, bankers and analysts say.
Owners of $1.2 billion in debt issued by Etihad and other airlines it partly owned have given the struggling Abu Dhabi carrier an ultimatum to agree to a restructuring or potentially face legal action, two sources close to the situation said.
Kuwait and Saudi Arabia are to suspend oil production from the neutral zone they share in June as part of cuts they agreed to shore up prices, a Kuwaiti official said.
Turkey secured a tripling of its currency-swap agreement with Qatar to $15 billion, the central bank said Wednesday, providing some much-needed foreign...
Running a restaurant in Dubai, where a discerning international clientele has more than twice as many dining options per head as in New York, was a cut-throat...
Emirates Group plans to cut about 30,000 jobs to reduce costs amid the coronavirus outbreak, reducing employees by about 30 percent from more than 105,000 at...
Even as U.S. sanctions, unemployment, inflation and low oil prices batter the Iranian economy, there seems to be at least one refuge for investors.
Emerging market investors are no strangers to sovereign debt crises, but few have been as perilous as the one facing Lebanon given a toxic combination of...
The International Monetary Fund is pushing the Lebanese government and the Central Bank to come up with clear answers concerning the capital control and...
Job cuts by U.S. state and local governments whose budgets have been crushed fighting the COVID-19 pandemic and more second-wave layoffs in the private sector...
UN chief Antonio Guterres called Thursday for debt relief to be offered to all developing and middle-income countries amid the coronavirus pandemic and urged...
Turkey's relatively low debt levels and experience at riding out financial market turbulence is helping its credit rating withstand the country's current...
Arab stock markets plunged almost a quarter in value in the first three months of 2020 due to the coronavirus pandemic and the collapse in oil prices, a U.N....
Egypt is in talks with the International Monetary Fund for a second bundle of financial support after receiving nearly $2.8 billion in emergency financing,...
Turkey could be heading for another financial crunch but its diminished importance for investors in developing economies and changes in the sector have...
Egypt has received $2.77 billion in emergency financing from the International Monetary Fund, its state news agency reported Tuesday, citing a senior central...
The coronavirus outbreak has not stopped oil production in Iran, the official IRNA news agency quoted Oil Minister Bijan Zanganeh as saying Tuesday.
Energy giant Saudi Aramco on Tuesday reported a 25 percent slump in first-quarter net profits due to low oil prices, saying the coronavirus crisis will dampen...
Saudi Arabia has directed national oil company Aramco to cut its crude oil production for June by an extra voluntary amount of 1 million barrels per day, on...
Gulf aviation giant Emirates said Sunday it would take at least 18 months for travel demand to return to "a semblance of normality", despite reporting bumper...
Turkey's lira hit a record low against the US dollar Thursday as traders worried over the impact of the coronavirus crisis on the Turkish economy and Ankara's...
Saudi government dollar bonds posted losses in early trade Monday as investors absorbed the finance minister's comments that the country would take strict and...
Top executives of Emirates and Etihad, two of the Middle East's biggest airlines, have said passenger demand may not return to pre-coronavirus crisis levels...
Saudi shares tumbled Sunday, a day after the finance minister announced "painful" measures to tackle the economic impacts of the coronavirus pandemic.
The Saudi stock market led Gulf bourses down on Tuesday, a day after US oil prices slumped to historic lows over sluggish demand, a supply glut and a lack of...
As coronavirus lockdowns crush businesses around the world, high-tech farming projects in the United Arab Emirates are eyeing large growth as authorities...
The emirate of Abu Dhabi said on Sunday it had sold $7 billion of bonds in the third major sale this month by Gulf sovereigns seeking to counter slumping oil...
The Middle East and North Africa economy will contract by 3.3 percent this year, the biggest slump in four decades, hammered by the coronavirus and low oil...
Kuwait's central bank said Tuesday it has issued 240 million dinars ($777.83 million) in three-month treasury bills at an average interest rate of 1.25...