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 top of a reduction already committed by the kingdom under the OPEC+ cut deal, a Saudi energy ministry official said Monday. "This...

Emirates, one of the world’s biggest long-haul airlines, reported a 21% rise in full-year profit on Sunday, but warned the outbreak of the new coronavirus hit its performance in the fourth quarter of the financial year. The Dubai state carrier made 1.1 billion dirhams ($287.5 million) in...

Canada shed three million jobs in the last two months due to the coronavirus lockdown, causing the unemployment rate to shoot up to 13 percent in April, the government reported Friday. That rate more than doubled, following a relatively small increase the previous month when restrictions...

The Bank of England warned Thursday that the British economy could suffer its deepest annual contraction in more than three centuries as a result of the coronavirus pandemic, before bouncing back next year. In what it describes as a "plausible" scenario, the bank said the British economy...