Business

New virus variant, lockdowns threaten demand for oil
OPEC+ deadlocked over raising oil output
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The new rate is an effective devaluation, meaning the cost of imported goods is likely to rise
Libya introduces new unified exchange rate
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The extended deal will replicate existing trading terms
Turkey, UK sign extend their free-trade deal
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The benchmark interest rate has been hiked for a second time in a row under the central bank's new chief
Turkey's central bank raises interest rate to 17%
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The new rates represent a dramatic reduction from the previous official rate of 1,182 IQD
Iraq's central bank devalues dinar by over a fifth
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There are no plans to revise value-added-tax in the short to medium term
Saudi Arabia sees economic recovery in 2021
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Nationals of 103 counties are exempted from entry visas into the Sultanate for a period of ten days
Oman seeks to boost tourism with visa-free 10-day entry
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Some Lebanese officials have accused Salameh of using bank secrecy laws to justify withholding information
Lebanon central bank can keep subsidies for only two more months
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Lebanon is suffering from a dangerous depletion of resources, including human capital
World Bank says Lebanon is in prolonged depression
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The agreement aims to provide a robust turnkey platform
UAE, UK boost trade ties
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Trump administration has blacklisted dozens of foreign companies accused of cooperating with Iran
Iran hopes for foreign firms’ return if US lifts sanctions
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Erdogan has bitterly opposed high rates for years
Turkey rate hike seen as political test for Erdogan
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Flights from Abu Dhabi to Tel Aviv will start March 28
Etihad Airways to start direct flights to Israel next year
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The oil demand recovery will be severely hampered and sluggishness in transportation
OPEC lowers 2021 demand for crude by 600,000 bpd
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Air Arabia has lost $57.86 million in the first nine months of 2020
Air Arabia seeks government funding
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The World Bank and IMF held virtual meetings in April and October this year due to the pandemic
IMF, World Bank postpone planned 2021 meeting in Morocco
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