Search Results for: Arabian Gulf
Arabian Gulf states are looking at ways to diversify their economies
March 13th, 2017
Push for UAE trade with Asia and Africa The UAE wants to expand trade ties with fast-growing nations in Asia and Africa, a senior official said on Sunday. Arabian Gulf states are looking at ways to diversify their economies, ...
Arabian Gulf markets lose $58 billion as weak oil and global equity rout spark sell-off
August 24th, 2015
Billions of dirhams were wiped off the value of Dubai shares yesterday, as stock markets across the Arabian Gulf lost US$58 billion on a day of calamitous trading. The sharp sell-offs came in the wake of sliding oil prices ...
Oil price slide threatens energy subsidies in Arabian Gulf states
November 10th, 2014
Low oil prices may lead Arabian Gulf states to issue additional debt and cut energy subsidies, according to the ratings agency Standard and Poor’s. “If there’s a prolonged oil price correction, corporate and government-related entities may have to change ...
Gulf states are spending billions to attract tourists
April 24th, 2017
Gulf states are spending billions of dollars creating ambitious strategies to attract visitors as tourism becomes a stronger plank of their economies. This week’s Arabian Travel Market in Dubai will show the changing face of the industry as entertainment ...
A common currency in the Gulf Arab region?
October 31st, 2016
Gulf single currency ‘inevitable’, says Oman cenbank chief Hamood Sangour al-Zadjali is quoted as saying that the move is only a matter of time The creation of a single currency in the Gulf Arab region has become inevitable and ...
IMF lowers Gulf economic growth forecast with ‘substantial measures needed’
April 25th, 2016
Growth in the Arabian Gulf will slow to 1.8 per cent this year as low oil prices take their toll on budgets, which will lose $140 billion in export revenue this year, the IMF said today. The growth forecast ...
Gulf businesses expect to keep hiring despite lower oil price
September 28th, 2015
Businesses operating in the Arabian Gulf have so far shrugged off the impact of lower oil prices on their hiring policies, with 80 per cent of them expected to take on new staff, according to new research released by ...
Saudi Arabian stocks tumbled entering a so-called death cross
August 18th, 2015
Saudi Stocks Sink Into Death Cross as IMF Sees Growth Slowing Saudi Arabian stocks tumbled, entering a so-called death cross, after the International Monetary Fund said the drop in oil prices may force spending cuts and curtail the kingdom’s ...
Saudi Arabia and UAE government bank deposits fall
March 31st, 2016
Government bank deposits continued to fall in Saudi Arabia and the UAE last month, as the low oil price hits the balance sheets of lenders in both countries. In Saudi Arabia, government deposits fell 6.6 per cent in February, ...
Iraq exports first natural gas shipment in its history
March 21st, 2016
Iraq has exported the first shipment of natural gas in its history, a key development for the OPEC member. The move revives a long-sought ambition by Iraq to be a gas exporter, thanks to a joint venture with Anglo-Dutch ...
