DOHA/DUBAI: Qatar's central bank will keep issuing 4 billion riyals ($1.1 billion) in treasury bills every month, its chief said on Monday, suggesting that policymakers are still comfortable with strong bank lending growth despite higher inflation (...)
DUBAI: Saudi security forces killed a young protester and wounded three in the kingdom's oil-producing Eastern Province, home to a large Shia Muslim minority, websites and activists said on Friday.
Saudi Arabia, the world's No. 1 oil exporter, is (...)
DUBAI: Mother-of pearl dashboards and diamond-encrusted hood ornaments at the Dubai International Motor Show this week underlined how the safe-haven status of the United Arab Emirates is fuelling dramatic growth in sales of luxury cars.
The (...)
ABU DHABI/DUBAI: Abu Dhabi's nominal economic output rose 15.9 percent in 2010, after shrinking nearly a quarter in the previous year, helped by recovery in its key hydrocarbon sector, the Gulf Arab emirate's preliminary data showed on (...)
ABU DHABI: Sudan may need as much as $1.5 billion of foreign aid a year and plans to slash government spending by a quarter as it faces budget difficulties due to its recent split into two countries, its finance minister said on Wednesday.
The (...)
DUBAI: Inflation in the United Arab Emirates eased to a three-month low of 1.3 percent on an annual basis in July helped by a weak housing market, data showed on Sunday, and analysts expect price pressures to remain low in the coming (...)
ABU DHABI: The Palestine Monetary Authority hopes to issue to banks its first ever Islamic bond worth $50 million by the end of June, its governor Jihad Al-Wazir said on Sunday.
The authority originally aimed to issue the bonds, or sukuk, in the (...)
DUBAI: Egypt has indicated it needs up to $12 billion to meet a funding gap but has yet to formally request a loan from the International Monetary Fund, an IMF official said on Wednesday.
"At this stage what we know is that the Egyptian (...)
DUBAI: Capital flight from Bahrain is starting to pressure its currency and threaten its position as a Gulf financial center, though it looks likely to avoid a full-blown currency crisis for now.
The small non-OPEC oil producer, where nearly $10 (...)
DUBAI: Political turmoil in Egypt may more than halve the Arab country's economic growth this year, push its budget deficit into double digits and weaken its currency, boosting already high inflation.
A month before massive anti-Hosni Mubarak (...)
DUBAI/SANAA: Impoverished Arab state Yemen is struggling to keep its currency afloat as it ploughs through cash reserves to fight rebellions, al Qaeda militancy and crushing poverty in order to maintain social order.
Yemen's central bank spent (...)
DUBAI: Dubai's economy grew 2.3 percent in the first six months of 2010 as trade and manufacturing improved along with tourism, the Dubai Statistics Center said, confirming earlier remarks by its chief.
The global crisis ended an oil and real (...)
DUBAI: United Arab Emirates inflation hit an 18-month high of 1.9 percent in October, while prices edged up slightly in fellow Gulf Arab state Bahrain, data showed on Sunday, indicating economic recovery is slowly taking hold.
Consumer prices in (...)
DUBAI: The United Arab Emirates economy is expected to grow by 2.25 percent this year, Arabic daily Al Bayan quoted the Gulf oil producer's energy minister as saying.
Mohammed bin Dhaen Al-Hamli also said there was a renewed optimism about the (...)
ABU DHABI: The United Arab Emirates is not worried about the dollar's weakness given low inflation, and is not considering de-pegging its dirham from the greenback, a senior central bank official said on Monday.
The dollar's slide had caused (...)
DUBAI: Gulf Arab oil producing countries are in the final stages of reaching a deal on how to distribute revenues from customs duties, a senior official at the United Arab Emirates finance ministry said on Sunday.
The introduction of a customs (...)
DUBAI: Abu Dhabi's annual inflation rate edged up to 3.8 percent in September, its highest since at least the beginning of 2009 as main living costs increased, data from the Gulf Arab emirate showed on Sunday.
Consumer prices in Abu Dhabi, the (...)
DUBAI: Oman's central bank may continue pursuing an accommodative monetary policy for an extended period and expects a pressure on the currency if inflation differential to the United States widened further, it said on Thursday.
The Arab Gulf oil (...)
DUBAI: Qatar will issue eight-year conventional bonds worth 5 billion riyals ($1.37 billion) with a coupon of 6.5 percent on Tuesday, while the same-sized Islamic portion awaits approval, a central bank source told Reuters on Tuesday.
The issues (...)
DUBAI: The United Arab Emirates' economic growth is expected to accelerate to up to 3.2 percent this year and no further major restructuring of Dubai debt is seen, the Gulf country's economy minister said on Saturday.
The UAE economy is expected (...)
RIYADH: Dubai's government-linked entities may be spared further major ratings downgrades in the near future, an analyst for Moody's said on Wednesday, in a sign that the emirate may be recovering from its credit woes.
A string of bruising (...)
RIYADH: Saudi banks will resume "normal business" this year after difficult conditions following the global downturn forced local lenders to increase provisions in 2009, the central bank governor said on Tuesday.
Muhammad Al-Jasser of the Saudi (...)