Syria's conflict has caused hundreds of thousands of refugees to flee to Lebanon, putting a huge strain on the Lebanese economy and its already-crumbling infrastructure.
But the five-year Syrian civil war has been a boon for at least one economic sector: the tobacco industry.Full Story
Oil prices eased slightly in Asia Thursday amid reports OPEC kingpin Saudi Arabia would further raise output in August.Full Story
Britain witnessed a surprise drop in claims for unemployment benefits in July, the immediate aftermath of the country's vote in favor of exiting the European Union, official data showed Wednesday.Full Story
From computers and cars to carpets and food, Britain's decision to leave the EU is beginning to hit consumers in the pocket, having already spread uncertainty through the property market.
The consequences of the shock vote have so far been mainly theoretical, but recent data suggest that the country's tumbling currency is about to reach the High Street.Full Story
Russia's energy ministry on Tuesday said it was making plans for a possible meeting with the Organization of Petroleum Exporting Countries (OPEC) in October, as the sector grapples with lower crude prices due to a global supply glut.Full Story
Egypt hopes a $12-billion financing deal with the IMF will usher in an economic turnaround but real progress hinges on a tough reform package avoided for decades to stave off unrest.
The financing over three years -- deemed an endorsement to attract more foreign aid -- would go together with a currency devaluation and streamlining of Egypt's bloated subsidy system.Full Story
Oil prices eased in Asia Tuesday as doubts emerged that Saudi Arabia and other major producers would reach an agreement to freeze output during a meeting next month.
Members of the Organization of Petroleum Exporting Countries (OPEC) as well as non-members are scheduled to meet informally in Algeria in September, and Saudi Arabia's oil minister Khalid al-Falih has hinted that discussions could include actions to stabilise prices.Full Story
Oil traded above $44 a barrel in Asia Monday, extending gains on hopes crude producers would agree to freeze output at a meeting next month, easing a stubborn global supply glut.Full Story
Jihadist attacks and political struggles are thwarting attempts by Libya's unity government to revive an oil industry seen as vital for the economy of the impoverished North African country.Full Story