BEIRUT/PARIS (Reuters) – French President Emmanuel Macron on Tuesday gave Lebanese politicians until the end of October to start delivering on reforms, saying financial aid would be withheld and sanctions imposed further down the line if corruption gets in the... More »
BEIJING (Reuters) – China’s vaccine specialist CanSino Biologics Inc has won a patent approval from Beijing for its COVID-19 vaccine candidate Ad5-nCOV, state media reported, citing documents from the country’s intellectual property regulator. It is the first ... More »
DUBAI (Reuters) – State oil giant Saudi Aramco’s profit plunged 73% in the second quarter of the year, as a slump in energy demand and prices due to the coronavirus crisis hit sales at the world’s biggest oil exporter. But the company stuck with plans to pay $... More »
DUBAI (Reuters) – Saudi information security company Elm is to acquire digital services company Tabadul from Saudi Arabia’s sovereign wealth fund, Elm said in a statement on Sunday. The Public Investment Fund (PIF) also owns Elm and was considering an initial ... More »
MOSCOW (Reuters) – Russian oil and gas condensate output increased to 9.8 million barrels per day (bpd) on Aug. 1-2 from 9.37 million bpd in July as the country eases production curbs under an OPEC+ deal, a source familiar with data said on Monday. The Energy ... More »
RIYADH (Reuters) – Saudi Arabia’s 84-year-old ruler, King Salman bin Abdulaziz, has been admitted to hospital in the capital Riyadh, suffering from inflammation of the gall bladder, state news agency SPA said on Monday. The king, who has ruled the world’s larg... More »
WASHINGTON/BERLIN (Reuters) – Finance officials from the Group of 20 major economies on Saturday vowed to resolve major differences over taxing big tech companies and reach a broad, consensus-based solution on international taxation this year. The United State... More »
LONDON (Reuters) – Oil prices fell on Monday on a record daily rise in global coronavirus cases, with big spikes in infections over the weekend in the United States, while traders await an OPEC meeting expected to recommend an easing of supply cuts. Brent crud... More »
TUNIS (Reuters) – Tunisia has asked four countries to delay debt repayments, it said on Monday as it announced more pessimistic economic and budget forecasts for 2020 because of the coronavirus pandemic. It is negotiating with Saudi Arabia, Qatar, France and I... More »
DUBAI (Reuters) – Saudi Arabia’s central bank governor said it was encouraging commercial banks to lend more to sustain businesses during the coronavirus crisis. Saudi Arabian Monetary Authority (SAMA) Governor Ahmed al-Kholifey was speaking at a virtual econo... More »
LONDON (Reuters) – Famed for snapping up glitzy real estate and stakes in troubled international banks during the global financial crisis, sovereign wealth funds are investing more at home, a trend set to accelerate in the wake of the economic carnage wrought ... More »
WASHINGTON (Reuters) – President Donald Trump may have fired State Department Inspector General Steve Linick because he was investigating U.S. military sales to Saudi Arabia, Democratic lawmakers said on Monday, although Secretary of State Mike Pompeo said he ... More »
BRUSSELS (Reuters) – World leaders launched a pledging “marathon” on Monday – without the United States – to raise at least $8 billion for research into a possible vaccine and treatments for the coronavirus. Organisers included the European Union, non-EU state... More »
DUBAI (Reuters) – Japan’s Mitsubishi UFJ Financial Group Inc (MUFG) (8306.T) expects countries in the six-nation Gulf Cooperation Council (GCC) to be in deep recession this year with overall real GDP contracting 3.7% from a previous growth forecast of 2.9%. Th... More »
RIYADH (Reuters) – The Saudi-led coalition engaged in Yemen on Monday urged a leading separatist group that declared self-rule in the south to rescind its move, saying it was an “escalatory action” at a time all parties should focus on confronting the novel co... More »
(Reuters) – A historic rout in oil markets sent U.S. crude prices plummeting to as much as minus $40 a barrel as traders rushed to get rid of unwanted stocks with storage capacity already overflowing amid a coronavirus-induced demand collapse. U.S. West Texas ... More »
SINGAPORE (Reuters) – Oil prices rose on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it won’t be enough to head off oversupply with the coronavirus pandemic hammering demand. After four day... More »
SINGAPORE (Reuters) – Minimal oil price gains on Monday show record output cuts by giant producers will still leave them with a mountain to climb to restore market balance, industry watchers said, with the coronavirus pandemic decimating demand just as stocks ... More »
BAKU/DUBAI/LONDON (Reuters) – OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States, that could curb global oil... More »
(Reuters) – Goldman Sachs said on Sunday that oil prices would continue to fall in the coming weeks, reasoning that a “historic yet insufficient” deal by major oil producers to cut output is unlikely to offset a coronavirus-led demand rout. The Organization of... More »
(Reuters) – An agreement by oil-producing nations on Sunday to cut output by a record amount may sustain a recent bounce in stocks, although stay-at-home restrictions and closures tied to the coronavirus pandemic still weigh on the global economy. OPEC and all... More »
CAIRO (Reuters) – Iraq’s oil minister said late on Sunday that the big oil cut deal reached at an OPEC+ meeting would help stabilize the market. Thamer al-Ghadhban said in a statement that the “massive oil cut deal will help lower oil inventories and boost pri... More »
BASRA, Iraq (Reuters) – Rockets landed near a site connected with foreign oil firms and state-run companies in Iraq’s southern city of Basra early on Monday, without causing damage or casualties, oil and police sources said. The rockets, which police said were... More »
NEW YORK (Reuters) – Global benchmark oil prices traded as much as $3 a barrel lower as the market opened for Monday’s trading session, reflecting fears of oversupply after Saudi Arabia and Russia postponed to Thursday a meeting about a potential pact to cut p... More »
LONDON (Reuters) – Deep oil output cuts by OPEC and other producing nations would not be enough to prevent a huge build in global crude inventories in the second quarter as measures to contain the coronavirus lead to “unprecedented” demand loss, the head of th... More »
RIYADH (Reuters) – Saudi Arabia’s King Salman has ordered up to 9 billion riyals ($2.4 billion) to be disbursed to pay part of the wages of private-sector workers to deter companies from laying off staff, the state-run Saudi Press Agency reported on Friday. Th... More »
DUBAI/LONDON/MOSCOW (Reuters) – OPEC and allies are working on a deal for an unprecedented production cut equivalent to around 10% of global supply, an OPEC source said after U.S. President Donald Trump called on oil nations to stop the oil rout caused by the ... More »
DUBAI (Reuters) – Walt Disney Co’s (DIS.N) Disney+ content will be available for the first time in the Middle East and North Africa on regional pay television and online streaming service provider OSN from April 9. Dubai-headquartered OSN has signed a “long-te... More »
WASHINGTON (Reuters) – U.S. President Donald Trump on Thursday said he would get involved in the oil price war between Saudi Arabia and Russia at the appropriate time, saying low gasoline prices were good for U.S. consumers even as they were hurting the indust... More »
LONDON (Reuters) – A rush to sell global bonds in the past week has now rippled into the world of exchange-traded funds with some of the most actively traded seeing the most bulging gaps relative to the value of underlying holdings in years. Exchange-traded fu... More »
KUALA LUMPUR (Reuters) – A fire killed five people at a refining and petrochemicals complex in southern Malaysia owned by Petronas and Saudi Aramco, authorities said on Monday. It was the second fire in less than a year at the $27 billion Pengerang Integrated ... More »
LONDON (Reuters) – Sovereign wealth fund investment in venture capital deals slipped to its lowest level in six years in 2019, with the drop-off deepening in the months after WeWork’s planned share sale failed, data showed on Friday. Sovereign wealth-backed ve... More »
DUBAI (Reuters) – Kuwait’s Health Ministry announced 10 new cases of coronavirus in the country on Monday bringing the total number to 56, a ministry official said. The official, who was speaking during a news conference broadcast on state television, urged ci... More »
DUBAI (Reuters) – Kuwait and Bahrain on Monday recorded their first new coronavirus cases, all involving people who had visited Iran, which has reported 43 cases of the disease, state media said. Kuwait detected the virus in three people among 700 who had been... More »
DUBAI (Reuters) – Kuwait said on Monday three people, including a Saudi national, who returned from Iran were infected by the new coronavirus, state news agency KUNA reported. The three cases, the first in the Gulf state, were among the 700 people evacuated fr... More »
RIYADH (Reuters) – Failure to reach a global deal on where and how much to tax digital giants such as Google (GOOGL.O), Amazon (AMZN.O) or Facebook (FB.O) would result in many digital tax regimes emerging all over the world, France’s Finance Minister said on S... More »
RIYADH (Reuters) – Japanese finance minister Taro Aso criticized on Sunday a U.S. tax reform proposal that he said could undermine global efforts to agree new rules on taxing big tech companies. The Organisation for Economic Cooperation and Development(OECD) i... More »
RIYADH/WASHINGTON (Reuters) – Central bankers from the United States, Japan and the euro zone meeting in the desert kingdom of Saudi Arabia this weekend had their own shifting sands to cross – those of elusive inflation. The problem facing all three is that pr... More »
(Reuters) – World number one Brooks Koepka said on Tuesday he thinks the Premier Golf League (PGL), a proposed series that could potentially overshadow the main tours, might actually happen after plans were announced last week. While Koepka acknowledged he sti... More »
DUBAI (Reuters) – Iranians should not allow U.S. President Donald Trump’s “maximum pressure” approach to harm national unity ahead of parliamentary elections, President Hassan Rouhani said in a speech, lashing out at hardliners over mass disqualification of ca... More »
DUBAI (Reuters) – Oman’s energy minister Mohammed bin Hamad al-Rumhy told Reuters on Monday he fully supported Saudi Arabia’s readiness to react to any impact the new coronavirus could have on the oil market. “Oman fully supports the statement (and the spirit)... More »
SAN FRANCISCO (Reuters) – Weeks after U.S. authorities brought a spying case against three Saudi nationals for digging up dissidents’ personal data at Twitter, the company suspended tens of thousands of accounts that appear to be linked to one suspect’s compan... More »
(Reuters) – Democrat Joe Biden’s presidential campaign launched new attacks on Donald Trump on Sunday, advocating a reevaluation of U.S.-Saudi relations and calling North Korea’s apparent weapons test a “rebuke” to the U.S. president in a statement to Reuters.... More »
(Reuters) – Briton Anthony Joshua, who reclaimed his world heavyweight titles with a clinical victory over Andy Ruiz Jr on Sunday, says a health issue had left him tired and drained before his shock defeat to the Mexican-American in their first fight in June. ... More »
DIRIYAH, Saudi Arabia (Reuters) – Britain’s Anthony Joshua beat Andy Ruiz Jr on a unanimous points decision in Saudi Arabia on Sunday to seize back the heavyweight world championship belts he lost to his Mexican-American opponent in a shock upset last June. Th... More »
LONDON (Reuters) – A beaten Andy Ruiz Jr called for a rematch after Anthony Joshua won back an array of world heavyweight titles in Saudi Arabia on Sunday, but the Mexican-American cannot expect to be at the front of the queue. “Who wants to see the third tril... More »
LONDON/RIYADH (Reuters) – Saudi Aramco is looking to buy insurance against war and terror attacks after a damaging drone and missile attack on some of its oil facilities in September, two sources told Reuters. Aramco, the world’s largest oil company, has been ... More »
MOSCOW (Reuters) – Turkey’s presidential administration has said that the purchase date for more S-400 missile systems from Russia is just a technicality and that it thinks a deal will happen before too long, the RIA news agency reported on Monday. Moscow hope... More »
LONDON (Reuters) – A wave of social unrest across developing countries this year has caught many investors off-guard and is challenging models designed to gauge political risk for investors, prompting some to pull money out. That has led to worries that a with... More »
DUBAI/LONDON (Reuters) – OPEC and its allies plan to deepen oil cuts and have the deal in place so it runs at least until June 2020 as Saudi Arabia wants to deliver a positive surprise to the market before the listing of Saudi Aramco, two sources familiar with... More »
DUBAI (Reuters) – Saudi Aramco met investors in Dubai on Sunday to market its initial public offering (IPO), after trying to secure demand from Kuwait’s sovereign wealth fund for the deal, worth up to $25.6 billion, which relies heavily on local and regional b... More »
RIYADH (Reuters) – Saudi Aramco’s weighting in Saudi Arabia’s main stock index once the oil giant has listed shares is not expected to breach the maximum limit set by the Gulf kingdom’s Tadawul exchange, a senior executive said on Sunday. “There is a ceiling f... More »
RIYADH (Reuters) – Saudi Arabia’s central bank is monitoring banking indicators on a daily basis and is not seeing any impact on liquidity from oil giant Aramco’s initial public offering (IPO), its governor said on Sunday. Saudi Arabian Monetary Authority gove... More »
RIYADH (Reuters) – Saudi Arabia’s banking sector has a high level of liquidity, its central bank governor said on Sunday, as banks in the Gulf state offer leverage to Saudi investors for shares in Saudi Aramco’s approaching initial public offering. “The Saudi ... More »
DUBAI (Reuters) – Iranian Vice President Eshaq Jahangiri on Saturday warned regional countries of consequences if it is proven that they meddled to stoke recent unrest in Iran. “Some countries in the region should know that they will not have an easy life in t... More »
DUBAI (Reuters) – Iranian Vice-President Eshaq Jahangiri on Saturday warned regional countries of unspecified dire consequences if it is proven that they meddled to stoke unrest in Iran, the semi-official news agency Fars reported. “Some countries in the regio... More »
DUBAI (Reuters) – Russia’s military export sales have not fallen despite U.S. sanctions, the head of state conglomerate Rostec said on Monday. Rostec, whose business includes weapons manufacturer Kalashnikov as well as Russian Helicopters and United Aircraft C... More »
DUBAI (Reuters) – Airbus (AIR.PA) and Boeing (BA.N) fought to save billions of dollars of jet deals on Sunday as host airline Emirates kept the Dubai Airshow in suspense over dozens of tentative orders designed to fine-tune the world’s largest international ai... More »
ANKARA (Reuters) – Turkey said on Monday it had deported two Islamic State militants — a German and an American — beginning a programme to repatriate fighters that has caused friction with its NATO allies since it launched an offensive in northern Syria. Allie... More »
DHAHRAN, Saudi Arabia/DUBAI (Reuters) – Saudi Arabia’s giant state oil company finally kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the domestic bourse in what could be the world’s biggest listing as the kingdo... More »
DUBAI (Reuters) – Aramco, as Saudi Arabian Oil Co is usually known, is set to add another superlative to the list: the world’s most valuable listed company. The sprawling state-owned oil giant announced on Sunday its intention to float on the Riyadh stock mark... More »
(Reuters) – The killing of Islamic State leader Abu Bakr al-Baghdadi in a U.S. raid is a further blow to a jihadist group that once held a swathe of territory in Iraq and Syria, experts said, but the organization and its ideology remain dangerous. Where once t... More »
LONDON (Reuters) – Uncertainty surrounding Britain’s exit from the European Union has hit science funding to the tune of almost half a billion euros and is putting off international researchers from coming to Britain, a leading institution said on Wednesday. A... More »
WASHINGTON (Reuters) – Saudi Arabia’s crown prince warned in an interview broadcast on Sunday that oil prices could spike to “unimaginably high numbers” if the world does not come together to deter Iran, but said he would prefer a political solution to a milit... More »
DUBAI/RIYADH (Reuters) – Saudi Arabia will seek to make a case at a global gathering in New York this week for concerted action to punish and deter arch-foe Iran after strikes on Saudi oil plants rattled global markets and exposed the kingdom’s vulnerability t... More »
DUBAI (Reuters) – Iran will pursue any aggressor, even if it carries out a limited attack, and seek to destroy it, the head of the elite Revolutionary Guards said on Saturday, after attacks on Saudi oil sites which Riyadh and U.S officials blamed on Tehran. “B... More »
WASHINGTON (Reuters) – U.S. President Donald Trump said on Sunday the United States was “locked and loaded” for a potential response to the attack on Saudi Arabia’s oil facilities, after a senior U.S. administration official said Iran was to blame. Trump also ... More »
BERLIN (Reuters) – Chancellor Angela Merkel said on Wednesday that Europe had decided to uphold the 2015 Iran nuclear deal and would keep trying to find solutions that averted escalation. “Step by step we will keep trying to find solutions with Iran that preve... More »
BERLIN (Reuters) – Germany will do its part to avoid a proxy war in Libya, Chancellor Angela Merkel said on Wednesday, warning that the situation in the north African country risked destabilizing the whole of Africa. “In Libya, a situation is developing that c... More »
BIARRITZ, France (Reuters) – Iran has an opportunity to come back into compliance with the nuclear deal and resume dialogue about its nuclear activities, British Prime Minister Boris Johnson said on Monday. U.S. President Donald Trump said earlier he would mee... More »
LONDON/SINGAPORE (Reuters) – Crude oil prices rose on Monday following a weekend attack on a Saudi oil facility by Yemeni separatists and as traders looked for signs that Sino-U.S. trade tensions could ease. Price gains were, however, capped to some degree by ... More »
SEOUL (Reuters) – Oil prices edged lower on Monday amid worries about an economic slowdown and the Sino-U.S. trade war, which have led to a cut in the growth outlook for global oil demand. International benchmark Brent crude futures were at $58.40 a barrel by ... More »
CAIRO (Reuters) – Eid Al Salwaawi, 69, paints murals of the rituals of the haj pilgrimage on the walls of a house in Cairo’s Sayeda Zainab neighborhood. Sometimes he volunteers to paint scenes that celebrate the haj and religious stories and lessons, other tim... More »
MOSCOW (Reuters) – Russia’s Federal Service for Military-Technical Cooperation confirmed on Friday it had started delivering S-400 missile defense systems to Turkey and that the deliveries would continue as per an agreed schedule, the RIA news agency reported.... More »
RIYADH/DUBAI (Reuters) – Saudi Arabian budget airline flyadeal will not proceed with a provisional $5.9 billion order for Boeing 737 MAX aircraft, instead opting for a fleet of Airbus A320 jets. Flyadeal has been reconsidering a commitment to order the Boeing ... More »
VIENNA (Reuters) – OPEC and its allies look set to extend oil supply cuts this week at least until the end of 2019 as Iran joined top producers Saudi Arabia, Iraq and Russia in endorsing a policy aimed at propping up the price of crude amid a weakening global ... More »
LONDON (Reuters) – Oil prices rose over $2 a barrel on Monday as OPEC and its allies looked on track to extend supply cuts until at least the end of 2019 at their meeting in Vienna this week. Front-month Brent crude futures touched an intraday high of $66.75 a... More »
DUBAI/WASHINGTON (Reuters) – U.S. President Donald Trump said on Sunday he was not seeking war with Tehran after a senior Iranian military commander warned any conflict in the Gulf region could spread uncontrollably and threaten the lives of U.S. troops. Tensi... More »
RIYADH/AMMAN/CAIRO (Reuters) – Arab politicians and commentators greeted U.S. President Donald Trump’s $50 billion Middle East economic vision with a mixture of derision and exasperation, although some in the Gulf called for it to be given a chance. In Israel,... More »
LONDON (Reuters) – Iranian foreign ministry spokesman said on Monday the U.S. Middle East peace plan that is set to be presented at an international conference in Bahrain this week is “shameful” and “doomed to failure”. “This conference and the sale of Palesti... More »
LONDON (Reuters) – Iran on Monday described its shooting down of a U.S. drone in the Gulf last week as a “firm response” to the United States and warned it could be repeated. “Everyone saw the downing of the unmanned drone,” navy commander Rear Admiral Hossein... More »
LONDON (Reuters) – Iran’s foreign ministry spokesman said on Monday Tehran welcomes any defusion of tensions in the GUlf region following weeks of deteriorating relations with Washington. “We welcome defusion of tensions in the region. We do not want rise of t... More »
JERUSALEM (Reuters) – More than two years after U.S. President Donald Trump first proposed a plan to revive the Israeli-Palestinian peace process, its first phase will be formally unveiled on Tuesday at an economic workshop in Bahrain. The ‘Peace to Prosperity... More »
WASHINGTON (Reuters) – U.S. Secretary of State Mike Pompeo announced on Sunday he will travel to Saudi Arabia and United Arab Emirates for talks, and repeated his offer for negotiations with Iran “with no preconditions” to de-escalate tensions. “We’re prepared... More »
BEIJING (Reuters) – The Chinese government’s top diplomat warned on Tuesday that the world should not open a “Pandora’s Box” in the Middle East, as he denounced U.S. pressure on Iran and called on it not to drop out of a landmark nuclear deal. Fears of a confr... More »
(Reuters) – Saudi air defenses intercepted two Houthi drones, one of them targeting a residential area in the southern city of Abha, the Saudi press agency said on Tuesday, citing the Saudi-led coalition. Al Masirah TV, citing a military spokesman, said on Mon... More »
WASHINGTON (Reuters) – The United States is preparing to send additional troops to the Middle East in response to mounting concerns over Iran, which Washington blames for attacks on oil tankers last week, two U.S. officials told Reuters on Monday, speaking on ... More »
WASHINGTON (Reuters) – The U.S. military on Monday released new images it says showed Iran’s Revolutionary Guard (IRGC) removing an unexploded limpet mine from a Japanese-owned tanker that was attacked on June 13 in the Gulf of Oman, as Washington blames Tehra... More »
PARIS (Reuters) – French President Emmanuel Macron said on Monday he regretted Iran’s announcement that it would exceed the allowed enriched uranium limit, but that Paris would hold talks with Iran and its partners to avoid any further escalation in the region... More »
WASHINGTON (Reuters) – U.S. President Donald Trump, declaring a national emergency because of tensions with Iran, swept aside objections from Congress on Friday to complete the sale of over $8 billion worth of weapons to Saudi Arabia, the United Arab Emirates ... More »
BAGHDAD (Reuters) – On a studio set in Baghdad, a director watches the star of his TV series hold a knife against the neck of a fellow actor, in a dramatic revival of fortunes for Iraq’s entertainment industry. Filmed in Iraq where the entertainment industry h... More »
DUBAI/LONDON (Reuters) – Saudi Arabia said on Monday that two Saudi oil tankers were among vessels targeted by a “sabotage attack” off the coast of the United Arab Emirates, condemning it as an attempt to undermine the security of global crude supplies. The UA... More »
(Reuters) – Financing group Greensill Capital on Monday confirmed SoftBank Group Corp’s Vision Fund has invested $800 million in the British company, a vote of confidence in the UK finance sector that has been navigating Brexit challenges. Greensill, which pro... More »
SANTANDER, Spain (Reuters) – A Saudi ship, prevented by rights groups from loading an arms cargo at the French port of Le Havre on Friday, arrived at the Spanish port of Santander early on Monday. It was not clear what the Saudi ship was doing in Santander or ... More »
SINGAPORE (Reuters) – Oil prices tumbled on Monday after U.S. President Donald Trump said he would sharply hike tariffs on Chinese goods this week, risking the derailment of trade talks between the world’s two biggest economies. U.S. West Texas Intermediate (W... More »
DUBAI (Reuters) – Saudi Technology Ventures (STV) said on Tuesday Uber’s deal with Careem will help the Middle East ride hailing firm expand its customer base even further and continue to develop the regional economy. STV is a Careem investor and participated ... More »
SINGAPORE (Reuters) – Oil prices slipped on Monday, with concerns of a sharp economic slowdown outweighing supply disruptions from OPEC’s production cutbacks and from U.S. sanctions on Iran and Venezuela. Brent crude oil futures were at $66.73 per barrel at 07... More »
MANAMA (Reuters) – As the weekend kicks off in Bahrain, Saudi Arabian and Kuwaiti cars jam the capital’s roads and hotel lobbies fill with visitors looking for bars, restaurants and other night-time entertainment. A new sales tax introduced this year means gov... More »
SINGAPORE (Reuters) – Oil prices dipped on Monday amid concerns that an economic downturn may dent fuel consumption, but crude markets remain broadly supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela. Brent crude... More »
BAGHDAD (Reuters) – Iranian President Hassan Rouhani sharply criticised U.S. military intervention in the Middle East on Monday as he began a first official visit to Iraq, aimed at shoring up Tehran’s influence and expanding trade ties. The visit also sends a ... More »
