BEIJING: Government subsidies are fueling a boom in electric vehicles in China, driving hopes for the industry’s global future as the world’s biggest car market offers economies of scale that could ma
BEIJING: China’s foreign exchange reserves have fallen to their lowest level in more than three years, the central bank said, as Beijing sells dollars to stop the yuan from depreciating further.
JEDDAH: The collapse in oil prices has been a focal point for the global economy, leading to an oversupply theme that coincided with waning demand, expected to stretch into 2016.
WASHINGTON: Saudi Arabia has five years’ worth of reserves at current spending levels and oil prices, Shantayanan Devarajan, chief economist of the World Bank’s Middle East and North Africa Region sai
NEW YORK: The Nasdaq Composite that includes large-cap technology names like Alphabet, Microsoft and Facebook led another broad rout on Wall Street Friday, closing at its lowest level since October 20
LONDON: US President Barack Obama’s final budget will propose a $10 per barrel oil tax, investing the proceeds in mass transit, high-speed rail, urban planning, highway upgrades and self-driving cars,
WASHINGTON: The US trade deficit rose in December as American exports fell for a third straight month, reflecting the pressures of a stronger dollar and spreading global weakness.
JEDDAH: Growth of Saudi Arabia’s non-oil private sector eased in January, continuing the trend seen through much of the latter part of 2015.
JEDDAH: New steps being taken to increase the flow of foreign investments into Saudi Arabia this year have raised the expectations of the business community.
LONDON: Abu Dhabi National Oil Co. (ADNOC) plans to start a new liquefied natural gas floating import terminal (FSRU) in the second half of this year, three LNG industry sources said.
© Copyright of Arab News 2015