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Cheap oil offers no respite for rising Saudi moneySaudi Arabian money rates have entered a long-term uptrend that may end only when oil prices recover, bankers say, as the money market becomes one of the conduits through which cheap oil affects every corner of the economy. So far More… |
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Opec sees more demand for its crude in 2016Opec forecast on Monday that demand for its oil in 2016 would be much higher than previously thought as its strategy of letting prices fall hits US shale oil and other rival supplies, reducing a global surplus. In a monthly report More… |
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Cheap oil pushes UAE into first fiscal deficit since 2009The UAE is set to post its first fiscal deficit since 2009 because of lower oil revenues, but it can avoid any serious economic slowdown, the International Monetary Fund said after annual consultations with the local authorities. The UA More… |
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Cheap oil slows Saudi, UAE projects but Qatar, Kuwait riseLow oil prices are slowing new economic projects in Saudi Arabia and the UAE but project awards have accelerated in Qatar and Kuwait, the Abu Dhabi Commercial Bank (ADCB) said in a report showing the mixed impact of cheap oil on the Gulf. More… |
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Cheap oil slows projects in Saudi Arabia, UAELow oil prices are slowing new economic projects in Saudi Arabia and the UAE but project awards have accelerated in Qatar and Kuwait, Abu Dhabi Commercial Bank said on Thursday in a report showing the mixed impact of cheap oil on the Gulf. More… |
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Qatar undeterred by cheap oil, plans big projectsDespite global concerns on plunging oil prices, Qatar appears undeterred in its expansion programme, forecasting a real GDP growth of 7.7 per cent for 2015, according to the latest statistical update released by the Ministry of Developmental Pla More… |
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Qatar, Kuwait in strong position to face low oil pricesWhile the export revenues of GCC countries are significantly affected from the recent oil price slide, Kuwait and Qatar are the most fiscally resilient countries owing to their low breakeven prices and large reserves, a report said. More… |
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Total plans to cut spending over cheap oilThe chief executive of Total said the French oil company would slash spending on exploration by 30 per cent this year due to the drop in the price of oil. Patrick Pouyanne told the daily Le Monde that "these past two More… |
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Cheap oil may boost growth, says Saudi economic city chiefSaudi Arabia's Emaar the Economic City (EEC) expects demand for its industrial and residential property to grow this year as companies increase investment despite the plunge of oil prices, a top executive said. Established in More… |
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Cheap oil may boost growth, says Saudi economic city chiefSaudi Arabia's Emaar the Economic City (EEC) expects demand for its industrial and residential property to grow this year as companies increase investment despite the plunge of oil prices, a top executive said. Established in More… |
