Gulf braces for austerity as oil income slump hits home
Faced with heavy losses from low oil prices, Gulf states have embarked on belt-tightening measures to cut spending and boost non-crude revenues, but analysts...
Iraq passes bill to unlock funds for cash-strapped state
Iraqi lawmakers Wednesday passed a crucial bill allowing the country to finance a widening fiscal deficit amid an unprecedented economic crisis spurred by falling...
London start-up scene weighs threat of British Techxit
Britain's tech start-up scene was having a bumper year in terms of new company creation, fresh funding and acquisitions by global tech players before...
Saudi to ban foreigners from selling mobile phones, create jobs for citizens
In an effort to provide more jobs to Saudi Arabian citizens, the kingdom will ban foreign workers from selling and maintaining mobile phones and...
Total fined 750,000 euros over Iraq 'oil for food' graft
French energy giant Total was ordered on appeal Friday to pay 750,000 euros for siphoning cash from the UN "oil-for-food" programme that aided sanctions-hit...
Saudi Arabia says outcome of OPEC meeting unclear
The outcome of this week's OPEC meeting remains to be decided, Saudi Arabia's oil minister said Tuesday amid widespread expectations that the cartel will...
Saudi Arabia to host first international meet to boost mining & minerals sector
Saudi Arabia is organizing its first ever international mining and minerals conference and exhibition in a bid to boost a sector that offers $19...
UAE, China to set up $10 bln joint strategic investment fund
The United Arab Emirates and China have established a joint strategic investment fund worth $10 billion, the UAE’s state news agency reported, as China...
Oil prices up in Asia, oversupply hobbles gains
Oil prices rebounded in Asia Wednesday but buying sentiment remains sluggish owing to supply glut woes and a strong dollar.
Traders are waiting for the...
OPEC announces cheap oil taking longer to subdue rival suppliers
Saudi Arabia tells OPEC it trimmed output in July and Further raises 2015 non-OPEC oil supply forecast * Points to larger 2.28 mbpd supply...
