Economy

Oil prices fell on Thursday following surprise travel restrictions imposed by U.S. President Donald Trump in an attempt to halt the spread of coronavirus after the World Health Organization described the outbreak as a pandemic. Global…

Saudi Arabia said on Wednesday it plans to boost oil production capacity for the first time in more than a decade, a day after it announced a record high hike in crude supply in a battle for market share that has hammered global prices this…

Lebanon announced it cannot meet its debt payments and halted a March 9 bond payment of $1.2 billion on Saturday, setting the heavily indebted state on course for a sovereign default as it grapples with a major financial crisis. In a…

“The National Media Agency” reported that the Financial Attorney General, Judge Ali Ibrahim, decided, today, Thursday, to put a “prohibition of disposal” on the assets of twenty Lebanese banks and to report them to the General Directorate…

Oil prices fell for a fifth day on Thursday to record their lowest levels since January 2019, as growing new cases of coronavirus outside China fueled concerns about a pandemic that could curb global economic growth and demand for crude.…

The Turkish lira reached its weakest level in trading in more than nine months on Thursday due to investor concerns about the spread of the Corona virus and the concern caused by the Turkish military engagement in neighboring Syria. The…

Oil prices fell to their lowest in more than a year on Wednesday after hundreds of new coronavirus cases reported in Europe and the Middle East stoked fears that energy demand would decline, and on concerns that the virus could spread…

Oil steadied above $56 a barrel on Tuesday after two days of declines as OPEC output cuts and Libyan supply losses balanced concerns about the spread of the coronavirus and its impact on oil demand.

Oil prices slumped by 4% on Monday as the rapid spread of the coronavirus in countries outside China added to investor concerns over the impact on demand for crude.

Oil prices fell about 1% on Friday on renewed concerns about crude demand being pinched by the economic impact of the coronavirus outbreak, while OPEC and allied producers appeared to be in no rush to curb output.