Gulf stocks tumble over Saudi-Iran tensions
Markets in Gulf Arab states tumbled Monday impacted by the growing tension between Saudi Arabia and Iran and global stocks rout over Chinese economic...
Oman to raise taxes and gas prices amid global oil slump
Oman is going to cut government spending and also raise taxes and gasoline prices to cover an anticipated budget shortfall in the coming year.
That's...
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...
SABIC chief expects decision on $30 bln Saudi project in Q2
Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups, expects to make a decision in the second quarter of 2016 on...
Saudi-backed shipping line UASC resumes Iran business
United Arab Shipping Company is resuming business with Iran following the lifting of Western sanctions, despite the deep-seated political rivalry between the Islamic Republic...
Egypt losing $250 million per month after Russian plane crash
An Egyptian government official says Egypt has lost hundreds of millions of dollars since last year's suspected bombing of a Russian plane, which crippled...
Saudis pledge not to shock oil markets as OPEC clash looms
Saudi Arabia promised on Thursday not to shock the oil markets as OPEC headed into a heated debate about production policy, with Iran insisting...
Gulf Arabs race to release youth potential in age of cheap oil
Like the prototype drone of Emirati student Talib Alhinai, the ambitions of young people across the Gulf Arab states need to soar if they...
Saudi reform plan pleases markets
A sweeping economic reform plan announced by Saudi Arabia on Monday pleased the financial markets but fell short of convincing sceptics that the kingdom...
Warren Buffett says US economy weaker than he expected
Billionaire Warren Buffett says the U.S. economy appears weaker than he thought it would be as recently as last fall, but that doesn't change...
