Asia oil prices dip on oversupply concerns
Oil prices fell in Asia on Thursday as supply outlook improved with both commodities hovering close to the key $50 mark, worrying traders about...
Saudi Arabia opens retail sector to more foreign investment
Saudi Arabia has approved rules opening its retail sector to greater foreign investment, official media said on Tuesday, as part of wide-ranging economic reforms.
The...
GCC debt to double, assets to slide by 2020
Public debt of the oil-rich Gulf states is expected to double and assets decline by a third by 2020 as they seek to finance...
Kuwait in deal to import 2.5 million tons of liquefied gas
Kuwait's state oil company has signed deals to import 2.5 million tons of liquefied gas per year into the country to help power electricity...
No more "free" Saudi money for Egypt, says Saudi businessman
Saudi Arabia's financial support for strategic ally Egypt will no longer involve "free money" and will increasingly take the form of loans that provide...
Saudi says to ensure Binladin Group resolves wage issue
The Saudi labour minister vowed Tuesday to ensure the Binladin Group keeps a promise to resolve wage issues, amid reports of thousands at the...
Saudi energy minister: Oil market heading toward a balance, prices settling
The energy minister of Saudi Arabia, the world's largest oil exporter, and the secretary general of OPEC agree that the global oil market is...
Dubai's Emirates sees 9% passenger growth in 2015
Dubai's Emirates airlines carried 51.3 million passengers in 2015, up nine percent from last year, the company said Wednesday.
CEO Tim Clark said the year...
IMF cuts Saudi growth forecast on oil slide
Growth in OPEC heavyweight Saudi Arabia will slow to its lowest rate in seven years, the International Monetary Fund said Tuesday, as oil prices...
Russian oil chief Sechin: OPEC unity effectively extinct
OPEC is effectively extinct as a united organisation and the time when it could determine global oil market conditions should be forgotten, Igor Sechin,...
