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...

Dr Khaled was queueing for petrol when he got an urgent call — a patient was bleeding from an artery. Normally, he would drive straight to his hospital in Damascus to help, but leaving now would mean giving up the position he had held for 18 hours in the queue. “If I don’t refill my car...

Saudi Aramco said on Monday it has hired a group of banks ahead of a multi-tranche U.S. dollar-denominated bond issuance, as the world's largest oil company seeks to raise cash amid lower oil prices. Goldman Sachs, Citi, HSBC, JPMorgan, Morgan Stanley and NCB Capital were hired to arrange...

Pfizer CEO Albert Bourla sold $5.6 million of his stock in the US pharmaceutical company on the same day it announced promising results for its Covid-19 vaccine candidate, filings showed Wednesday. The company, however, has reportedly said the sale was part of a pre-arranged periodic...

Dubai-based Emirates airline on Thursday posted a $3.4 billion half-year loss, its first in more than three decades, saying it had been badly hit by the coronavirus lockdown that brought air transport to "a literal standstill". "In this unprecedented situation for the aviation and travel...

Huawei Technologies [HWT.UL] plans to sell its budget-brand Honor smartphone unit in a 100 billion yuan ($15.14 billion) deal after years of pressure from U.S. trade curbs made on grounds that the technology firm is a national security threat. The world’s biggest maker of mobile...

 Saudi Arabia's economy shrank 4.2 percent in the third quarter from a year earlier, government data showed on Tuesday, a smaller contraction than the second quarter when the economy was reeling from coronavirus-linked lockdowns. The economy expanded by 1.2 percent on a...

HONG KONG (AP) — Chinese consumers are expected to spend tens of billions on everything from fresh food to luxury goods during this year’s Singles’ Day online shopping festival, as the country recovers from the pandemic. The shopping festival, which is the world’s largest and falls on...

U.S. stock index futures pointed to a sharply higher open on Monday after President-elect Joe Biden was declared the winner in a highly contentious election. Biden’s victory in Pennsylvania on Saturday put him above the 270 Electoral College votes needed to secure the presidency, four days...

Saudi Arabian state oil group Aramco 2222.SE on Tuesday reported a 44.6% drop in third-quarter net profit, in line with analysts' estimates, dented by lower crude oil prices and volumes sold as the coronavirus crisis choked demand. Weaker refining and chemicals margins have also hit the...

Economic activity in France bounced back strongly in the third quarter following the lifting of the coronavirus lockdown, data showed on Friday, but the government still expects Europe's second-biggest economy to remain deep in recession for the year as a whole. French gross domestic...

Gulf OPEC producers the United Arab Emirates and Kuwait, as well as Iraq, are debating whether they should roll over existing oil supply cuts into 2021, as they struggle to stick to their agreed reductions, OPEC and industry sources said. Their hesitance raises the possibility of reviewing...

The US economy grew at an unrivaled pace in the third quarter as the government poured out more than $3 trillion worth of pandemic relief which fueled consumer spending, but the deep scars from the COVID-19 recession could take a year or more to heal. Gross domestic product rebounded at a...

There is a high risk the resurgence in coronavirus cases halts the global economic recovery by year-end, according to Reuters polls of around 500 economists, a majority of whom expected the rebound next year to be weaker than previously thought. Governments and central banks around the...

Global shares slipped on Wednesday as coronavirus infections grew at an alarming pace in the United States and Europe, while uncertainty over next week’s U.S. elections added to a “risk off” tone. European shares look set to tumble amid reports of potential lockdowns in Germany and France,...

Dubai airport, the world's busiest for international travel before the coronavirus crisis, could see passenger traffic fall by as much 70% this year, its chief executive said. A wave of new infections around the world ahead of the typically busy Christmas and year-end travel season has...

Syria’s Tartus Labor Union launched a massive attack on the Russian operator of the Tartus harbor, the Russian businessman, “Stroy Tranz Gas,” owned by President Vladimir Putin’s Russian businessman Yeveni Prigugen, the same company that acquired Eastern phosphate and Khnevis, as well as the...

The Turkish currency slid further Monday to an all-time low against the U.S. dollar after President Recep Tayyip Erdogan challenged the United States to slap sanctions over his government’s decision to test its Russian-made air defense system. The lira dropped another 1.3% to 8.06 against...

Oil prices fell on Monday, extending last week’s losses, as increasing coronavirus cases in the United States and Europe raised worries about energy demand, while Libya’s fast growing production also weighed on prices. Brent LCOc1 was down $1.08, or 2.6%, at $40.69 by 0934 GMT. U.S. West...

After years of focusing on U.S. shale, Chevron Corp is staking its natural gas future on the Middle East, a volatile and divided region where energy majors have long tread warily. CEO Michael Wirth's pivot away from home is underpinned by a bet that the Middle East is entering an era of...