Low oil price chance for Gulf economic reforms
The sharp drop in the price of oil, the lifeblood of Gulf economies, is an opportunity to end subsidies and introduce reforms in the...
$30 oil is 'irrational' and a rebound is 'inevitable,' according to Saudi Arabia
Saudi Arabia thinks oil prices at $30 per barrel are “irrational.”
According to a report in The Financial Times, Khalid al-Falih, chairman of the state-owned...
No sign of Saudi rescuing oil market
Low oil prices have pushed top exporter Saudi Arabia to hasten difficult economic reforms and cut spending on popular benefits, but it has few...
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...
Iraq oil exports at record, unaffected by Iran's return to market
Iraq's plan to increase oil output this year will go ahead, with exports running in January at a record level and unaffected by Iran's...
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...
Algeria turns to China for funds after drop in energy prices
Algeria is turning to China to finance several infrastructure projects, including a new $3.2 billion port, as the North African OPEC member looks for...
China's Xi opens refinery with Saudi King Salman
Chinese President Xi Jinping and Saudi King Salman on Wednesday attended a ceremony to mark the opening of a joint-venture refinery, a symbol of...
Saudi takes steps out of welfare state under King Salman
Faced with a massive decline in oil revenues, Saudi Arabia's King Salman marked his first year in power by taking steps to end his...
Erdogan aide calls for nationalisation of Turkey's Isbank
An aide to Turkish President Tayyip Erdogan has called for the nationalisation of the country's biggest private bank, Isbank, in which the main opposition...
