Hit by sanctions curbing oil sales, Iran’s economy is set to fall deeper into recession this fiscal year and foreign reserves could drop to $73 billion by March, a loss of almost $40 billion in two years, the Institute of International Finance said. The economy shrank by 4.6% in the...

(Zaman Al Wasl)- The Syrian pound (Lira) on Monday has hit a historic low against the U.S. dollar to a record low of 1,050 pounds to the dollar. The deteriorating and tragic exchange rate is caused by the Lebanese crisis where about $20 billions are locked up in the Lebanese banks,...

Renault 7201.Y shares hit six-year lows on Monday after a media report that Nissan has accelerated secret contingency planning for a potential split from the French carmaker, the latest sign that the downfall of former boss Carlos Ghosn is roiling the 20-year alliance. At 1027 GMT, the...

When the United States, the European Union and the United Nations imposed sanctions on Syria in the first year of its civil war in 2011, they were intended to financially squeeze the government of Bashar al-Assad. But Lebanon was also caught in the crosshairs, pressured to curb Syria's...

Lebanese prosecutors issued a travel ban for fugitive ex-Nissan chief Carlos Ghosn and asked him to hand in his French passport on Thursday, following an Interpol-issued notice against him, a judicial official said. The travel ban comes after Ghosn was interrogated by prosecutors for...

Crude oil prices were down Thursday having lost gains recorded in the previous sessions after U.S. President Donald Trump's comments to calm tensions in the Middle East. "Iran appears to be standing down, which is a good thing for all parties concerned," Trump said Wednesday amid Iran's...

Carlos Ghosn, speaking publicly for the first since his dramatic escape from Japanese justice, told reporters in Beirut he had been treated “brutally” by Tokyo prosecutors he accused of helping Nissan to oust him as chairman. Wearing a blue suit and red tie and speaking defiantly, the...

Japan has asked Lebanon for help regarding Carlos Ghosn, a top Japanese official said on Tuesday, calling the former auto executive’s escape to Beirut “regrettable” but stopping short of spelling out what Tokyo was seeking from local authorities. The former Nissan Motor Co Ltd  and...

Former Renault-Nissan boss Carlos Ghosn, who skipped bail in Japan and fled to Beirut, is due to be summoned by Lebanon's public prosecutor next week, an official said Friday. Japanese investigators are probing how the man who was once the country's best paid corporate executive managed...

Russia has halted oil supplies to refineries in Belarus, the Belarusian state energy firm said Friday, amid a new contract dispute that is also threatening large Russian oil deliveries to Western Europe crossing the country. Belarus's state firm Belneftekhim said deliveries had been...

Asian stocks were mixed Friday and oil prices surged after an Iranian general was killed by U.S. forces in Iraq. Benchmarks in Shanghai and Hong Kong declined. Australia and some Southeast Asian markets advanced. Japanese markets were closed. News that Gen. Qassem Soleimani,...

Halting production from Iraq's southern Nassiriya oilfield over the weekend by protesters will not affect the country's exports and production operations, the Oil Ministry said Sunday. Iraq will use additional output from southern oilfields in Basra to make up for the missing shipments...

Germany accused the US of interfering in its internal affairs on Saturday, in an increasingly angry spat over Washington's decision to impose sanctions on companies involved with a major project to supply Western Europe with Russian gas. Moscow and the European Union also issued...

(Zaman Al Wasl)- The Syrian Central Bank has accused exchange and money transfer companies with supporting terrorism, which led to their closure with the promise to put the owners under trial following formal and thorough investigations. On Thursday morning, the Central Bank published...

Syria’s parliament has approved contracts for oil exploration with two Russian companies in an effort to boost production hit by more than eight years of war and Western sanctions. State news agency SANA said the deals cover exploration and production in three blocs, including an oilfield...

 (Zaman Al Wasl)- More than ten Kuwaiti Shiite investors have established construction and real-estate companies in regime-held areas since January, seeking to bolster the ailing Syrian economy, sources told Zaman al-Wasl.  The Kuwaiti investors are in direct contact with...

Carmaker Volkswagen has suspended production in Algeria, where the head of its local partner has been detained since June in a corruption probe, a spokesman for the German auto giant said. "Volkswagen is aware of a corruption investigation by Algerian authorities into Mourad Oulmi", who...

Expectations for a U.S.-Chinese trade truce rose Friday, though Beijing accused Washington of unfairly attacking its economy and said a settlement to their costly, 17-month-old conflict must be “mutually beneficial.” A senior Trump administration official said an announcement regarding...

(Zaman Al Wasl)- About 50 Syrian restaurants and shops have closed their doors to customers in Sudan as the newly-appointed government wages major campaign against workers who don't have legal residence or work permits. Owners of the Syrian restaurants in Khartoum have closed their...

Saudi Aramco shares will start trading on Dec. 11, the Saudi securities exchange Tadawul said on Twitter Friday. The Saudi oil giant priced Thursday its initial public offering at 32 riyals ($8.53) per share, raising $25.6 billion and beating Alibaba Group Holding Ltd's record $25...