January 14, 2015
The collection of $1.5bn through the issuance of international bonds is expected by April.
The UAE, last week targeted illegal fuel agents in the country and, Kuwait has also moved swifly against those involved in these operations.
January 13, 2015
Oil tumbled to six-year lows Tuesday on global oversupply and after Saudi Arabia, kingpin of the Organisation of Petroleum Exporting Countries (OPEC) said the era of $100 crude was over.
Britain has launched a trade mission to Egypt with more than 40 companies received in Cairo, the largest such effort in over a decade by the top foreign investor in the Arab world's most populous country.
"If Iran suffers from the drop in oil prices, know that other oil-producing countries such as Saudi Arabia and Kuwait will suffer more than Iran," he added.
Lebanon will likely reduce land transportation fees after a dramatic drop in the price of gasoline and diesel.
Kuwait’s government has set apart KD45.5 billion ($155 billion) in the country’s five year developmental plan to spend on various projects and on human resource development.
Rail projects across the GCC are expected to fuel intra-regional trade while helping reduce fuel consumption.
January 12, 2015
Dubai World has reached formal agreement with a substantial majority of creditors on its proposal to amend and extend the terms of its outstanding debt totalling $14.6 billion.
Analysts at Goldman Sachs lowered their three-month price forecast for Brent to $42 a barrel from $80.
A diplomatic push by Venezuela and Iran for an OPEC oil output cut has failed to soften the refusal of the group’s Gulf members to do so for now.
Saudi Arabia is the world's largest crude exporter and the biggest producer in the 12-member Organization of the Petroleum Exporting Countries (OPEC).
Egypt has signed six new oil and gas exploration contracts worth hundreds of millions of dollars with foreign and Egyptian companies.
Tourist visas issued in Dubai have just become costlier and non-extendable.
January 11, 2015
Iraq’s Oil Ministry can sue the Kurdistan regional government for possession of 1 million barrels of crude that have waited in a tanker circling off the Texas coast for more than five months, a U.S. judge said.