Kuwait's cabinet called for practical steps to address the slide in oil prices at a special session convened to examine weakening energy markets, official media in the petroleum-dependent Opec member country reported.
The recent plunge in oil prices will not have a direct impact on Saudi Arabia's budget as the kingdom takes precautions to handle all possibilities when planning its finances, Finance Minister Ibrahim Alassaf was quoted as saying.
Kuwait's economy grew modestly last year, the government said on Wednesday, contradicting an earlier estimate by the International Monetary Fund that gross domestic product shrank because of lower oil output.
The widely differ
Iran has accused fellow Muslim countries in the Middle East of plotting with the West to bring down oil prices as a tactic to further undermine its sanctions-hit economy.
With oil losing a quarter of its value
Egypt's Prime Minister urged the country's citizens not to expect instant results from large-scale infrastructure projects the government has embarked on to create jobs and strengthen the economy.
Ibrahim Mehleb faces the monume
China plans to grow its sports sector into a 5-trillion-yuan ($817-billion) industry by 2025 to boost employment and domestic consumption in its "new" economy, the government said on Monday.
Under a sweeping reform plan,
British engineer Rolls-Royce warned on Friday that deteriorating economic conditions meant its profit would not rise next year as previously forecast, sending its shares plunging as much as 16 per cent.
Rolls-Royce said the market
Massive infrastructure projects currently in the planning stage will not only boost Bahrain’s national economy but also strengthen the kingdom's competitiveness, a top minister has said.
Transportation Minister and Econo
Egypt's GDP growth rate rose in the fourth quarter of fiscal 2013/14 to 3.7 per cent, up from 2.5 per cent, the government said, in the latest sign that confidence is returning to an economy battered by three years of political turmoil.
Though braced by a resurgent US, the global economy is under threat from other regions - from Europe and Latin America to China and Japan - where growth is stalling and prospects remain dim.
That's the bleak picture facing glo