Stung by low oil prices, Saudi makes massive subsidy cuts

Aramco Delays Oil Pricing Amid Saudi-Russia Row on Oil Cuts  BloombergView Full coverage on Google News

>Oil prices, which tumbled again yesterday, are likely to remain low throughout 2015, the World Bank has said.

Oil prices surge nearly 10% after Trump says Russia-Saudi feud can be resolved  MarketWatchCoronavirus: Oil prices rise on hopes of a price war truce  BBC NewsWhite House mulls tariffs on Saudi crude to aid US shale oil: WSJ  Aljazeera.comFor Saudi Arabia and Oil, April May Be the Cruelest Month  BloombergOil prices could remain depressed for a year. Here's why  World Economic ForumView Full coverage on Google News

Oil Prices Slide As Saudi Arabia Confirms Another Export Boost  OilPrice.comUS crude oil price falls below $20  Financial TimesCoronavirus: Oil price collapses to lowest level for 18 years  BBC NewsSaudi-Russia oil war is a game theory masterstroke  Financial TimesWhy Saudi Arabia is likely to blink first in oil price war with Russia  South China Morning PostView Full coverage on Google News

Local consumers will pay Sh116 less on every litre of petrol they purchase in Dar es Salaam as the regulator cuts the charges further in response to declining global prices.

Tanzania’s economy will save over Sh232 million daily for a one month starting today as the energy regulator braved political machinations to cut pump prices for petroleum products in response to declining global prices.

Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program  CNBCCoronavirus: US slashes rates and launches huge stimulus programme  BBC NewsThe Fed slashes rates to zero to combat coronavirus  Aljazeera.comFederal Reserve cuts interest rates to near zero in attempt to prop up US economy  The GuardianWTI Crude Oil tumbles toward $31 on shock Fed cut amid the coronavirus crisis  FXStreetView Full coverage on Google...

Tanzania’s annual headline inflation rate decreased to 6.4 per cent in June 2014, from 6.5 per cent recorded in May as the speed of food prices went down during the month, the National Bureau of Statistics has announced.

Saudi Minister of Foreign Affairs Adel al-Jubeir speaks during a press conference in Riyadh. Saudi Arabia broke off diplomatic ties with Iran. Photograph: Ahmed Farwan/AFP/Getty Images

Saudi Arabia has cut diplomatic relations with Iran in a sharp escalation of tensions between the two regional foes following the execution of the Saudi Shia cleric Sheikh Nimr al-Nimr.

The Saudi foreign minister, Adel al-Jubeir, told a news conference that Iran’s diplomatic mission and related entities in...