Saudia to launch low-cost offshoot airline
State-owned Saudi Arabian Airlines plans to launch a low-cost offshoot next year under initiatives to restructure the kingdom's oil-dependent economy, official media said on...
Kuwait's NBK profits drop in Q4 and rise for 2015
National Bank of Kuwait, the emirate's largest lender, said Thursday its net profit fell in the fourth quarter but rose in 2015 as a...
Qatar forecasts $12.77 billion budget deficit
Energy-rich Qatar has forecast a budget deficit of more than $12 billion in 2016, citing a sharp drop in oil and gas prices, local...
Saudi's Bahri says signs 700 million riyal loan for oil tankers
The National Shipping Company of Saudi Arabia has signed a 700 million riyal ($186.7 million) loan to partly-finance the purchase of three very large...
Oil prices edge up
Oil prices edged up slightly in Asia on Tuesday after tumbling more than two percent the day before, while a weaker dollar also provided...
Russia sees oil price of $45-$50 per barrel 'acceptable' as it prepares for freeze...
Russia believes an oil price at $45-$50 per barrel is acceptable for the global oil market to balance, as it prepares to meet leading...
Oman records lowest inflation in Gulf region
JEDDAH – Oman recorded the lowest inflation rate at 0.07 percent in August among Gulf Cooperation Council (GCC) states. The highest inflation rate was...
Pakistan to receive $497mn tranche of IMF loan
The International Monetary Fund announced Thursday it would release the latest instalment worth $497 million of a three-year economic bailout package to Pakistan, while...
Saudi Arabia will support Egypt despite oil price lowering
The drop in global oil prices will not deter Saudi Arabia from supporting Egypt's economy, its ambassador said on Thursday, adding Riyadh's support would...
Saudi and UAE shares rise on interest rate hike
Markets in Saudi Arabia and the United Arab Emirates rallied Thursday after their countries followed the US Federal Reserve by hiking interest rates, but...
