Saudi reforms may not prevent looming economic slump
At a three-day conference in Riyadh this week, hundreds of Saudi Arabian officials and businessmen discussed ways to rescue the economy from low oil...
Oil price slump should not stop investments: Al-Naimi
Saudi Arabia has called for sustained investment in new output capacity despite the slump in world prices.
Ali Al-Naimi, minister for petroleum and mineral resources,...
Gulf banks eyeing prospects in Iran
Gulf banks including Dubai's largest lender Emirates NBD are already meeting prospective clients and taking legal advice about entering Iran's financial system now that...
Emirates airline's H1 profit surges 65% to $849 mn
Dubai's Emirates airline said Thursday its net profit surged 65 percent in the first half of the financial year to $849 million (781 million...
Abu Dhabi financial regulator may create framework for virtual currencies
The regulator of Abu Dhabi's international financial centre said it could create rules for exchanges handling virtual currencies, in a sign that authorities in...
Oil up as Kuwait revives hope for output freeze deal
Oil prices climbed in Asia Wednesday after Kuwait said an agreement to freeze output during a producers' meeting this month could still be reached...
Oil slides, strong dollar pulls Asian shares lower
Asian shares dropped on Thursday, with energy stocks taking a hammering from a slide in oil prices while a stronger dollar piled pressure on...
Saudi to overhaul floundering financial district and economic cities
Saudi Arabia is revising plans for a glitzy financial district in Riyadh and the creation of six industrial cities, after the projects were plagued...
Oil price to fall further as market 'could drown in over-supply'
The oil price is set to fall further this year as supply vastly exceeds demand, with major oil exporter Iran's return to the market...
Gulf Air cuts losses by more than 60%
Bahrain's struggling carrier Gulf Air said Wednesday it reduced losses by 62 percent last year as a result of the company's restructuring.
Losses fell from...
