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Oil-rich Kuwait faces reckoning as debt crisis looms

When Kuwait emerged from a monthslong coronavirus lockdown, hundreds of Kuwaitis flocked to reopened stores, the lines clogging malls, snaking through hallways and spilling onto sidewalks. But unlike much of the world, where long lines formed for donated food, Kuwaitis were waiting to...

Aramco markets five-tranche bonds, seeking cash amid cheap oil

Saudi Aramco began marketing a five-tranche U.S. dollar-denominated bond sale on Tuesday, as the world's largest oil producer seeks cash after low oil prices dented its finances. The move is part of an onslaught on international debt markets by Gulf issuers seeking to plug finances hit by...

World shares jump on more good news about virus vaccines

Stock markets jumped higher Monday on news that a second coronavirus vaccine showed promise, bolstering hopes even as new infections surged around the world. Pharmaceutical company Moderna said its vaccine appears to be 94.5 percent effective, according to preliminary data. Markets rallied...