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IMF urges Saudi to contain spending as deficit widens

The International Monetary Fund has called on Saudi Arabia to keep public spending under control, even as a partial recovery of oil prices helps the economy emerge from recession. The lender called on the world's top oil exporter to continue "bold structural changes" but to "resist the...

Turkish currency hits record low amid Erdogan concerns

Turkey's currency, the lira, has fallen to a record low against the dollar amid concerns about an outflow of investor capital and the country's ability to manage the situation. The lira dropped to over 4.80 per dollar on Wednesday, down some 5 percent since Tuesday. The Turkish...