Airlines need up to another $80 billion to survive, the head of the industry’s trade association told a French daily on Friday, as many countries tighten restrictions to confront another wave of coronavirus infections.For more coronavirus news, vis [Read story...]

Restructuring consultancy Alvarez & Marsal has pulled out of a forensic audit of Lebanon’s central bank because it did not receive information required to carry out the audit, caretaker Finance Minister Ghazi Wazni told Reuters on Friday.For all [Read story...]

The European Union on Friday issued one of its most upbeat assessments of the state of post-Brexit trade negotiations, as the talks face an ever tighter deadline for a deal to enter into force for the start of the new year.For more coronavirus news, [Read story...]

Washington has granted Iraq a shortened 45-day sanctions waiver to import Iranian gas that will expire days before US President Donald Trump’s term ends, an Iraqi official said Saturday.Baghdad buys gas and electricity from its neighbor Tehran to s [Read story...]

The Dubai International Financial Center (DIFC) and Israel’s Bank Hapoalim have agreed to cooperate across financial services activities, the Dubai Media Office said in a statement on Saturday.“Bank Hapoalim will become part of DIFC’s global ne [Read story...]

Lebanese President Michel Aoun said on Saturday that a forensic audit of the central bank was vital to combat corruption, and that he would get it back on track after the consultancy contracted to carry it out withdrew.Aoun said “interest-driven road [Read story...]

Saudi Arabia will be among the “relative winners” to emerge from the coronavirus pandemic, said the Kingdom’s Minister of Investment Khalid al-Falih at a G20 media briefing on Saturday.While al-Falih argued for the need for multilateralism and [Read story...]

Group of 20 major economies should work to provide trillions of dollars in trade financing for developing countries to ensure the recovery of the global economy from the COVID-19 pandemic, a top official with the World Trade Organization said on Satu [Read story...]

Dubai state developer Nakheel has appointed Naaman Atallah as its new chief executive, it said on Sunday, filling a position that had been left vacant since Sanjay Manchanda stepped down in March.For all the latest headlines follow our Google News ch [Read story...]

The Arab Monetary Fund (AMF) highly values the “pioneering role” played by Saudi Arabia in leading the world’s economy, said Dr. Abdulrahman al-Hamidy, director-general chairman of the board of AMF, highlighting the role of the G20 in connectin [Read story...]

Emirates airlines will provide free multi-risk travel insurance to all passengers on top of existing COVID-19 cover, the airline announced on Monday.All flights purchased from December 1 will be eligible for the new insurance. It will also extend to [Read story...]

Oil prices rose more than 1 percent on Monday, extending last week’s gains as traders eyed a recovery in demand due to successful coronavirus vaccine trials.For more coronavirus news, visit our dedicated page.Sentiment was also bolstered by expecta [Read story...]

Indian Oil Corp, the country’s largest state refiner, has bought nearly 20 million barrels of crude from West Africa and the Middle East for delivery in early 2021, three trade sources said on Monday.For all the latest headlines follow our Google N [Read story...]

The United Arab Emirates’ Energy Minister Suhail al-Mazrouei said on Monday the latest oil discoveries are part of state-owned Abu Dhabi National Oil Co’s efforts to increase production capacity to 5 million barrels per day by 2030.For all the latest [Read story...]

The digital payments business of Saudi Arabia’s Saudi Telecom Company (STC), stc pay, is in talks with Gulf regulators to seek approval to operate in the United Arab Emirates, Kuwait and Bahrain, its CEO said on Monday.STC said on Saturday that Wes [Read story...]

Oman has tightened price guidance for $500 million of bonds due in 2027 and 2032 that it is offering for sale in a tap of outstanding issues, and has received over $1.5 billion in combined orders, two sources said on Monday.Oman tightened both tranch [Read story...]

Global aviation body IATA is developing a set of mobile apps to help passengers to navigate COVID-19 travel restrictions and securely share test and vaccine certificates with airlines and governments, it said on Monday.For more coronavirus news, visi [Read story...]

The Indian units of Singapore-based Sembcorp Industries Ltd and Saudi Arabia-based Aljomaih Holding Co won government auctions to sell solar power for a record low of 2 rupees ($0.0270) per kilo watt hour (kWh), sources said.For all the latest headli [Read story...]

French Finance Minister Bruno Le Maire said he would press the new Biden administration in his first contacts with them on Monday to quickly back an overhaul of international taxation of digital companies.“I really hope that this new Biden administ [Read story...]

El Al Israel Airlines will operate 14 weekly flights from Tel Aviv to Dubai from December 13, it said on Monday, joining a handful of carriers launching routes between Israel and the United Arab Emirates (UAE).For more coronavirus news, visit our ded [Read story...]

Chinese handset rivals of Huawei Technologies including Xiaomi, Oppo and Vivo are making aggressive moves to seize market share from their giant rival, after stepped-up US sanctions hobbled Huawei’s supply chains, industry insiders say.Last week Hu [Read story...]

Russian President Vladimir Putin on Monday signed a law on increasing income tax for high earners in the first move away from a flat tax system in place since 2001.Starting next year, the tax rate will rise from 13 percent to 15 percent on incomes ov [Read story...]

British airline easyJet has posted its first full-year loss in its 25-year history as a result of the coronavirus pandemic but laid out hope that the rollout of vaccines will help it bounce back strongly next year.The airline reported a pretax loss o [Read story...]

Oil prices jumped more than 4 percent on Monday, recouping the previous session’s losses after Moderna Inc said its experimental vaccine was 94.5 percent effective in preventing COVID-19.For more coronavirus news, visit our dedicated page.Brent crude [Read story...]