The Reserve Bank of India has asked the country’s major state-owned refiners to press Gulf suppliers to accept at least 10 percent of oil payments in rupees in the next financial year, three executives at the processors said.

The financial landscape in Egypt on Wednesday was nothing short of dramatic. Amidst a backdrop of anticipation and speculation, the Egyptian economy experienced pivotal changes that underscored the unfolding narrative of reform and adjustment.

NEW YORK: Oil prices rebounded slightly on Wednesday after extended declines as signs of supply tightness amid output cuts by major producers overrode demand growth concerns in China and the US, the world’s two biggest crude consumers, according to Reuters.

RIYADH: Saudi Arabia’s Tadawul All Share Index concluded its Wednesday trading at 12,561.90 points, marking an increase of 91.75 points or 0.74 percent. 

RIYADH: The UAE’s non-oil private sector expanded in February as it delivered the strongest output growth since June 2019, according to S&P Global’s purchasing managers’ index report.

 CAIRO: Egypt secured an additional $5 billion in loans from the International Monetary Fund on Wednesday after the central bank raised interest rates and allowed the pound to plunge in value by nearly 40 percent.