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US sees jump in durable goods ordersOrders for long-lasting US manufactured goods rose more than expected in April, a hopeful sign that a sharp slowdown in factory output could soon run its course. New orders for durable goods, which range from toasters to aircraft, More… |
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Oil prices set for biggest weekly lossOil is poised to post its biggest weekly loss in more than a month, with Brent edging down towards $102 per barrel on Friday - pressured by ample supply and a sluggish economic recovery that could dent demand for fuel. Crude inven More… |
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Inflation a risk for strong Saudi economy: IMFSaudi Arabia faces a possible inflation risk due to buoyant growth that may warrant policy action to prevent the economy from over-heating, the International Monetary Fund said. More… |
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Bahrain real GDP grows 3.9pc in 2012Bahrain's real gross domestic product (GDP) is estimated to have expanded 3.9 per cent last year from the 1.9 per cent growth seen in 2011, according to a new report. Even as the oil sector shrank by around 8.5 per cent in 201 More… |
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UAE economic growth hits 4.4pc in 2012Economic growth in the UAE accelerated to 4.4 percent in inflation-adjusted terms in 2012 from a downwardly revised 3.9 percent the previous year as activity picked up across all sectors, its stat More… |
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US consumer mood rises to new highAmericans felt better about their economic and financial prospects in early May as consumer sentiment rose to the highest level in nearly six years, an encouraging sign after other recent data had suggested broader US growth is cooling. More… |
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Gold falls further in longest losing streakGold fell on Friday for a seventh straight session, in its longest losing streak since March 2009, as the dollar strengthened and investors cut exposure to the precious metal, fearing further drop More… |
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Kuwait ruling may threaten economic recoveryA ruling by Kuwait's top court next month could end a period of relative political stability, jeopardising government plans to push ahead with long-delayed economic projects. More… |
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Dubai non-oil trade jumps to $88.6bn in Q1Dubai's non-oil trade jumped 16 percent in the first quarter and recovery in the emirate's property sector will help keep the pace up this year despite a plunge in trade with Iran and glob More… |
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Subsidies distorting economy, says Saudi ministerSaudi Arabian government subsidies, particularly for fuel, are "increasingly distorting" the economy and the government is trying to address the issue, Economy and Planning Minister Moha More… |
