Crashing crude price causes large budget deficit in Saudi Arabia

Saudi Arabia’s budget deficit soared to $98bn (£65.7bn) this year as the world’s biggest oil exporter counted the cost of falling crude prices. In the first budget under King Salman, the kingdom said revenues reached 608bn riyals (£108.7bn; $162bn), down 15% on official expectations. Spending for the year hit 975bn riyals, some 13% more than… Read More Crashing crude price causes large budget deficit in Saudi Arabia

Iraqi forces retake ISIS stronghold in Ramadi, Syria

Iraqi forces have retaken control of a government compound long held by ISIS in Ramadi, an important gain that could signal ISIS’ imminent exit from the key city. Following days of fighting as ISIS militants fought to defend the compound, the resistance ended, and Iraqi forces found that the ISIS fighters had withdrawn, said Col.… Read More Iraqi forces retake ISIS stronghold in Ramadi, Syria