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Opec oil output cut brings relief to Saudi Arabia

Opec’s market moving deal to cut output by 1.2m barrels a day has come as a relief to Saudi Arabia, the main force behind the accord, as Riyadh struggles to…

This deal is the beginning of the end for Opec

The deal agreed by Opec members this week will come to symbolise the passing of one of the world’s most powerful cartels. After 50 years in control of the oil…

Egypt and the IMF: a good start, but only a start

Egypt’s agreement with the IMF on a $12bn, three-year loan will help finance Egypt’s import needs while cushioning the effects of the reduction in fuel subsidies and the floating of…

Saudi Arabia set to reveal depth of oil reserves

Saudi Arabia is set to lift the lid on one of the global energy industry’s most closely guarded secrets as it prepares to sell shares in Saudi Aramco: how much…

Syrian economy in tatters after 5 years of war

In his tiny office, tucked behind stacks of olive oil soap and bags of pistachios stored in an arcaded courtyard in the main market of Damascus, Abu Abdallah laments the…

IMF board approves $12bn Egypt bailout

The International Monetary Fund’s executive board has approved a $12bn bailout of Egypt to buttress the government’s finances and help the Arab world’s most populous country restore some vim to…

Egypt raises energy prices hours after floating currency

Egypt will raise energy prices from Friday, the petroleum ministry said on Thursday, hours after the central bank floated the pound currency. The move, which took effect at midnight local…

Egypt devalues – now the hard work starts

After struggling with a lack of dollars in its economy for over a year, the Egyptian central bank finally threw in the towel, moving to a liberalisation of the pound…

Iran opens for telecoms connections

When Twitter’s Jack Dorsey tweeted Hassan Rouhani in 2013 to ask if any of the citizens of his country were able to read the Iranian president’s tweets, he probably did…

Iran: Inside the battle to succeed supreme leader Khamenei

The final judgment may rest with God. But there is a lot of manoeuvring in Tehran to influence the decision on who will be Iran’s next supreme leader. There is…

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