Saudi minister warns sanctions, underinvestment may cause energy shortages
DUBAI, Feb 5 (Reuters) – Saudi Energy Minister Prince Abdulaziz bin Salman warned on Saturday that sanctions and underinvestment in the energy sector could result in a shortage of energy supplies.The European Union has imposed a series of sanctions against Russia, reducing Russian energy exports, and other Western powers have also imposed measures as they […]
Lebanon to devalue currency by 90% on Feb. 1, central bank chief says
BEIRUT, Jan 31 (Reuters) – Lebanon will adopt a new official exchange rate of 15,000 pounds per U.S. dollar on Feb. 1, central bank governor Riad Salameh said, marking a 90% devaluation from its current official rate that has remained unchanged for 25 years.The shift from the old rate of 1,507 to 15,000 is still […]