Search Results for: Gulf
OPEC, Russia talk of oil teamwork, but Saudi talks of investment
January 26th, 2016
Senior OPEC and Russian oil industry officials stepped up vague talk on Monday of possible joint action to remedy one of the worst supply gluts in decades, while Saudi Arabia signaled its resolve to allow the market to balance ...
Renault recalls more than 15,000 diesel cars after emissions tests
January 20th, 2016
French carmaker acts after admission that emissions filtering system did not work in all temperatures, but denies wrongdoing Renault has recalled more than 15,000 diesel cars after an admission that its emissions filtering system does not work in all temperatures. ...
Falling oil prices: How are countries being affected?
January 19th, 2016
Oil prices have fallen to their lowest level since 2003, sinking below $28 a barrel before recovering slightly on Monday. Analysts say the drop has been driven by oversupply, coupled with a fall in demand because of a slowdown ...
HSBC Plans New Mideast Headquarters Near World’s Tallest Tower
January 18th, 2016
20-storey tower to be built in Dubai’s Emaar square by 2017 Construction to start in few days, HSBC to move staff in 2018 HSBC Holdings Plc will start building a new Middle East headquarters near the world’s tallest tower ...
The Financial Apocalypse Accelerates As Middle East Stocks Crash To Begin The Week
January 18th, 2016
It looks like it is going to be another chaotic week for global financial markets. On Sunday, news that Iran plans to dramatically ramp up oil production sent stocks plunging all across the Middle East. Stocks in Kuwait were ...
How low gold prices affect jewelry sales
January 18th, 2016
Declining gold prices boosts jewelry sales Low gold prices have boosted sales in Saudi markets despite recent global fluctuations in its value. Riyadh and Makkah registered the highest levels of sales in this regard, followed by the Eastern Province ...
Planned valued added tax of up to 5% in 2018 awaits GCC approval
January 14th, 2016
A planned value added tax on goods and services will range between 3 to 5 per cent when it comes online in 2018. It could help to replenish regional coffers following a steep decline in the price of oil, ...
War Between Saudi Arabia And Iran Could Send Oil Prices To $250
January 14th, 2016
The rift between Saudi Arabia and Iran has quickly ballooned into the worst conflict in decades between the two countries. The back-and-forth escalation quickly turned the simmering tension into an overt struggle for power in the Middle East. First, ...
OPEC president sees emergency meeting in March
January 12th, 2016
OPEC president Emmanuel Ibe Kachikwu said Tuesday that he expects an extraordinary meeting of the oil cartel in “early March” OPEC president Emmanuel Ibe Kachikwu said Tuesday that he expects an extraordinary meeting of the oil cartel in “early ...
Cyprus is ‘next property investment hotspot’, says agency
January 7th, 2016
Cyprus is set to join London, New York and Paris as a top international property hotspot, says a leading agency. Chestertons International says there has been growing interest from investors for luxurious Cyprus properties, with sales rising 23% in October ...
