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Iranian traders hope for carpets lift-off

©AFP Post-sanctions trade quest: Iran’s international handwoven carpet exhibition in Tehran this summer Dusting off the thousands of exquisite Persian carpets he has kept in storage for several years, Amir…

Egypt nears number two spot in Africa

Egypt has not been a notable political or economic success story in recent years. Violence, revolution and counter-revolution have left thousands dead and the army chief who overthrew the country’s…

Set out spending cuts, IMF tells Saudis

©AFP The IMF has asked Saudi Arabia for more details of its plans to deal with its ballooning fiscal deficit, warning the world’s biggest oil producer could deplete its financial…

Iran central banker hails ‘new outlook’

©Reuters Central bank chief Valiollah Seif says the eventual lifting of US and EU sanctions will create a “new condition” for Iran With Iran’s economy beset by plunging oil prices,…

IMF warns on Gulf states growth

©Bloomberg Gulf states face slower economic growth as a “large and persistent” drop in oil prices increases the urgency for them to cut spending and diversify revenues, according to the…

Isis Inc: how oil fuels the terrorists

On the outskirts of al-Omar oilfield in eastern Syria, with warplanes flying overhead, a line of trucks stretches for 6 kilometres. Some drivers wait for a month to fill up…

Currency woes hinder Egypt’s economy

Finding new customers for his fitness and physiotherapy equipment business used to be the main challenge for Rawi Camel-Toueg. Now the Egyptian businessman’s biggest headache is securing the dollars needed…

Iran to test confidence with debt issue

©EPA Iran will issue Islamic Treasury Bills, its version of short-term sovereign debt, for the first time on Monday in an attempt to provide a fresh fiscal stimulus for its…

China ties lose lustre as Iran eyes west

©Getty An Iranian delegation meets Chinese counterparts in Beijing When Tehran adopted a “Look East” policy nearly a decade ago to reverse Iran’s dependence on western technology, its sights were…

Saudi king meets top US executives

©AP Saudi Arabia’s King Salman has met senior US executives in Washington as the country seeks to lure foreign investment to help diversify its economy amid sustained low oil prices.…