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Saudi unemployment spikes as virus-hit economy shrinks by 7% in Q2

Saudi Arabia's economy shrank by 7% in the second quarter, a sign of how deeply the new coronavirus hit both the oil and non-oil sectors, while unemployment hit a record high of 15.4%, official data showed on Wednesday. The world’s largest oil exporter is facing a deep recession after the...

U.S. renews pressure on Europe to ditch Huawei in new networks

Telecoms company Huawei Technologies is part of China’s surveillance state, complicit in human rights abuses, a senior U.S. official said on Tuesday, as Washington renewed pressure on Europe to ban the company from fifth-generation (5G) networks. Keith Krach, the undersecretary of state...

TikTok fate in the balance as judge weighs app store ban

Lawyers for TikTok pleaded with a U.S. federal judge on Sunday to delay the Trump Administration's ban of the popular video sharing program from app stores set to take effect at the end of the day, arguing the move would infringe on First Amendment rights and do irreparable harm to the...

OPEC turns 60 at 'critical moment' for virus-hit oil

OPEC faces a critical moment in its 60-year history with the coronavirus crushing crude demand and prices, discord among its members, and threats from a world seeking cleaner fuels. Founded on September 14, 1960, by Iraq, Iran, Kuwait, Saudi Arabia and Venezuela who sought to control crude...