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...
Emirates airline says profits are up amid lower oil prices
The Middle East's biggest airline, Emirates, says its profits jumped by about 56 percent to $1.9 billion in the last fiscal year largely due...
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...
Saudi economic reform plan aims for revenue surge
Saudi Arabia plans to more than triple the government's non-oil revenues and clamp down on public-sector salaries over the next five years, ministers said...
Brexit uncertainty prompts IMF to cut global growth forecasts again
The International Monetary Fund (IMF) cut its global growth forecasts for the next two years on Tuesday, citing uncertainty over Britain's looming exit from...
Abu Dhabi's powerful wealth fund sticks to long-term plan
The Abu Dhabi Investment Authority says it is committed to a long-term investment strategy despite a slump in oil prices and concerns about slower...
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...
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...
Falih slowly wins back OPEC for Saudis
Russian oil billionaire Vagit Alekperov isn't easily swayed, but Saudi Arabia's new Energy Minister Khalid al-Falih achieved it this week.
Intense diplomacy by the soft-spoken...
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...
