Economy

JEDDAH: Stock markets in Saudi Arabia and the UAE soared on Thursday after the price of oil rebounded and the Riyadh government eased investors’ fears by saying it would continue spending heavily on...
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GM, JLR suspend car deliveries to Russian dealers

HAMBURG/PARIS: Carmakers including General Motors and Jaguar Land Rover have stopped delivering to Russian dealerships in response to the sharp slide in the value of the ruble.





$475m Addis Ababa metro set for completion in January

ADDIS ABABA: Ethiopia expects to complete the Chinese-backed construction of a $475 million metro rail system in the capital Addis Ababa next month, the head of the project said.



Bahrain may start importing Russian gas from 2017

DUBAI: Bahrain could start importing gas from Russia in 2017, Russia’s ambassador to the kingdom told a local newspaper according to Bahraini state news agency BNA.




Britain to sell more shares in Lloyds Bank

LONDON: Britain will sell more shares in Lloyds Banking Group over the next six months, moving the bailed-out bank another step toward a full return to private ownership and recouping more taxpayer ca





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