Saturday 25 November 2017
 
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oil wealth

GCC states ‘must add value to their oil wealth’

GCC states must increase their investment in value-added oil and gas processing to support sustainable, long-term economic growth, one of Kuwait’s leading industry executives said today (November 6). Better integration of up

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Saudi may change the way it manages oil wealth

A former senior official at Saudi Arabia's central bank says he believes the kingdom may soon change the way it manages its oil wealth as part of efforts to protect its financial reserves in an era of cheap crude. The Saudi Ar

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Analysis: Kuwait ill-equipped to deal with global crisis

Kuwait's scramble to prop up a top bank and guarantee bank deposits this week have highlighted how ill-equipped the Gulf Arab oil producer is to deal with the global crisis despite its enormous oil wealth. The major Opec producer had t

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Use oil wealth for progress, urges forum

The World Economic Forum on the Middle East concluded today with a call for accelerated political and economic reform to ensure that the region achieves its full potential. It called for converting rising oil wealth into skilled human capi

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