The dramatic plunge in oil prices over the past 18 months has caused a “pronounced negative swing”, in Saudi Arabia’s financial picture, S&P warned. The oil-rich kingdom has gone from a healthy budget surplus of 7% of GDP in 2013 to a projected deficit of 16% this year. S&P estimates that unless oil prices rebound… Read More Saudi Arabia downgrades budget due to oil crash
Mr Godwin Emefiele, the Governor of Central Bank of Nigeria, said on Friday that the apex bank had no intention to devalue the nation’s currency. He told State House correspondents that the last devaluation took place in February and would remain so for now. “There has been a lot of talk on whether or not… Read More No more devaluation of naira- CBN Governor
Rockets slammed into a former U.S. military base housing Iranian exiles near the Baghdad airport, reportedly causing numerous casualties. At least 80 rockets struck Camp Liberty, where members of the main Iranian opposition group, the Mujahedin-e Khalq, or MEK, have been living since February 2012, said Shahin Gobadi, a spokesman for the People’s Mojahedin Organization… Read More 25 killed as rocket attacks hit camp of Iranian opposition party
Airbus signed an order Thursday to sell 130 commercial jets to China in a deal worth $17 billion to the European aircraft maker. The manufacturing giant completed the sale during a meeting between German Chancellor Angela Merkel and Chinese Premier Li Keqiang in Germany. China Aviation Supplies Holding Company, an aircraft leasing company, was the… Read More Airbus sells $17billion worth of jets to China
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