Middle East

Souring prospects in the world's largest emerging markets are darkening an already cloudy outlook for the global economy, the World Bank said on Wednesday, as it cut growth forecasts for the third straight year.

OPEC has, so far, held its ground during a steep drop in global oil prices. But with crude now hitting six-year lows, industry watchers are wondering if the oil cartel may finally blink.

Oil accelerated a months-long slump after Saudi Arabia, looking to counter the American shale boom, cut its prices for U.S. buyers.

While market shocks like the September 11 terror attacks and the 2011 tsunami in Japan triggered selloffs, history shows scary events during bull runs proved to be buying chances.

Concerns about the unpredictable fallout of a clash with Syria deepen on Wall Street following a speech by Secretary of State John Kerry Friday afternoon. • Kerry: Assad Unleashed 'Inconceivable' Horror • Read: U.S. Lays Out Evidence of Assad Chemical Weapon Use

The threat of a military conflict with Syria has sparked a selloff on Wall Street, driven up oil prices and introduced a new source of uncertainty.

The latest political stalemate gripping Cairo threatens to further cloud the country’s already-murky economic outlook.

The World Bank said remittances by migrant workers to the developing world are set to rise 6.3% this year to $414 billion.

The decision comes as more than 50 people have been killed in a new outbreak of violence.

Western banks are increasingly attracted to Iraq's fast-growing economy, however analysts say they face serious security and corruption risks. 

The banking giant is set to become the first U.S. lender to open a physical office in Iraq.

Israeli Ambassador Ido Aharoni says he is highly concerned with the ramifications the Iran nuclear deal could have on the Middle East.

The $625 million deal is a bid to boost exposure in emerging markets, and gives the cigarette maker a 25% stake in an Algerian joint venture.

The $625 million deal is a bid to boost exposure in emerging markets, and gives the cigarette maker a 25% stake in an Algerian joint venture.

Egypt may not be a big energy producer, but disruptions to the country's key energy transit routes could have wide ripple effects.