Venezuela will increase fuel prices in June, the president said, putting a limit on state subsidies that for decades had allowed citizens to fill their gas tanks virtually for free. Although the country has huge oil reserves, production has collapsed and Venezuelans are facing dire...

Oil prices edged lower on Friday, set to post their first weekly fall in five weeks, after U.S. inventory data showed lacklustre fuel demand in the world’s largest oil consumer while worsening U.S.-China tensions weighed on global financial markets. Brent crude slipped 43 cents, or 1.2%,...

Turkey's economy grew 4.5% year-on-year in the first quarter of 2020, the country's statistical authority announced Friday. According to the Turkish Statistical Institute (TurkStat), gross domestic product (GDP) at current prices amounted to 1.07 trillion Turkish liras ($176.1 billion) in...

State-owned Kuwait Airways said Thursday it will lay off 1,500 expatriate employees due to "significant difficulties" caused by the coronavirus pandemic. The loss-making national carrier, which has a total of some 6,925 employees, has struggled amid the regional and worldwide downturn in...