Iran’s currency Saturday dropped to its lowest value ever against the dollar, and has seen its value fall by 30% since June amid severe U.S. sanctions imposed on Tehran. Money exchange shops traded the Iranian rial 262,000 for a dollar. The rial had traded at 256,000 to $1 Thursday, and...

Sudan has declared a state of emergency to avert economic downturn due to the dramatic fall of its local currency against the US dollar and soaring inflation. The decision -- reported by official news agency SUNA -- includes setting up emergency courts, enacting laws to protect the economy,...

Dozens of emerging market funds have closed this year as turmoil unleashed by the coronavirus has damaged investor sentiment towards the asset class, where returns lag those of developed economies. A weaker U.S. dollar, which would typically have boosted emerging markets, has failed to lift...

The number of Americans filing new claims for unemployment benefits hovered at high levels last week, suggesting the labor market recovery from the COVID-19 pandemic was stalling. The weekly jobless claims report from the Labor Department Thursday, the most timely data on the economy's...

Oil prices slid on Thursday after data showed U.S. crude stockpiles unexpectedly rose last week, stoking concern about a sluggish recovery in fuel demand as coronavirus cases continue to surge in many countries. U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 24 cents, or 0.63%,...

 Oil futures on Wednesday clawed back some of the losses they sustained in the previous session, but a rebound in COVID-19 cases in some countries undermined hopes for a steady recovery in global demand. Brent crude LCOc1 rose $1.21, or 3%, to $40.99 a barrel by 12:56 p.m. EDT (1656...

World shares struggled Tuesday as doubts about a recovery in tech stocks lingered after last week's rout, while the dollar awaited policy signals from the European Central Bank and the pound remained hostage to Brexit jitters. Fresh tensions between Washington and Beijing after US President...

France's economy, which like those of other countries was pushed into a bruising recession by the coronavirus, will bounce back now that lockdown measures are lifted but will still contract over the year as a whole, official data showed Tuesday. France's gross domestic product, which had...

Emirates, the largest airline in the Middle East, said Monday it had so far returned $1.4 billion in refunds to customers amid sharply reduced global travel due to the coronavirus pandemic. "Emirates reveals that is has returned over 5 billion dirhams in Covid-19 related travel refunds,"...

Annual trade between Israel and the United Arab Emirates is expected to reach $4 billion, an Israeli minister said Monday. Israel and the UAE announced in August they would normalize diplomatic relations in a deal brokered by Washington. The UAE has since announced it was scrapping an...

First Abu Dhabi Bank plans to restart talks to buy the Egyptian business of Lebanon’s Bank Audi, two sources familiar with the matter said. FAB, the United Arab Emirates’ biggest lender, will have an internal meeting this week to decide on a way to resume negotiations and put in a final...

Oil futures dropped on Friday, with prices on both sides of the Atlantic heading for their biggest weekly declines since June, as lacklustre demand and ample fuel supplies offset support from a weaker dollar. Brent crude LCOc1 fell 33 cents, or, 0.8% to $43.74 a barrel by 0630 GMT. The...

Oil prices extended losses on Thursday, falling by more than 2% to their lowest point since early August, as worries about weaker U.S. gasoline demand and a sluggish economic recovery from the COVID-19 pandemic dented sentiment. Brent crude LCOc1 fell $1, or 2.25%, to $43.43 a barrel by...

Oil rose on Monday, with Brent touching the highest in five months, underpinned by a 30% cut in Abu Dhabi crude supplies and encouraging Chinese data even as global demand struggles to return to pre-COVID levels in a well supplied market. Brent crude futures for November LCOc1 advanced to...

State oil company Saudi Aramco has discovered two new oil and gas fields in the northern regions, the kingdom’s energy minister said on Sunday, state news agency SPA reported. The energy minister Prince Abdulaziz bin Salman Al-Saud said the new Abraq al-Toloul oil field, which lies to the...

Home sales are booming. Stocks are setting record highs. Industrial production is clambering out of the ditch it fell into early this year. And yet the US economy is nowhere close to regaining the health it achieved, with low unemployment, free-spending consumers and booming travel, before...

 Creditors of Iran have filed a suit in a New York court seeking to require Deutsche Boerse's Clearstream unit to surrender assets that allegedly belong to the country's central bank, the German stock exchange operator said Thursday. Deutsche Boerse said in a statement the complaint...

 Oil held near $46 a barrel on Wednesday, close to its highest since March, lifted by U.S. producers shutting most of their offshore Gulf of Mexico output ahead of Hurricane Laura and a report showing a drop in U.S. crude inventories. Renewed worries over the COVID-19 pandemic, which...

Top Chinese and US negotiators spoke on the phone Tuesday about their phase one economic deal, Beijing's commerce ministry said, amid soaring tensions between the two sides on several fronts. The US and China signed the accord in January, bringing a partial truce in their lingering trade...

When Deniz Tas reopened his 660-room hotel on Turkey's sparkling Aegean coast in July he had only a modest goal - to break even for the rest of a tourist season devastated by the coronavirus lockdown. For hotels across Turkey 2020 has become a fight for survival, with the outcome crucial...