Trade among Gulf oil producing countries is expected to grow around 14 per cent in 2011 recovering from a contraction two years ago at the height of the global financial downturn, two officials said on Sunday.
'There was a contraction
Gulf countries seeking to suspend Syria's membership to the Arab League over its bloody crackdown on protesters failed to gain enough support last night to push the measure through, reflecting deep divisions among the body's 22 nations.
A new financial crisis is expected to hit Gulf economies due to problems facing the US, according to Bahraini bankers.
The crisis will not spare any Gulf country, including those where oil represents 90 per cent of the gross domestic produ
GCC states last night expressed their full solidarity with His Majesty King Hamad and the Bahraini people following a meeting between Foreign Minister Shaikh Khalid bin Ahmed Al Khalifa and his GCC counterparts to discuss the events of the pa
Gulf oil ministers on Tuesday played down the slide in oil prices below $70 a barrel and said Opec had no plans to call an emergency meeting to discuss supply policy.
US crude slipped to around $68 on Tuesday and has fallen nearly $20 in t
An optimistic outlook has been predicted for the Gulf region by 2020, when its economy will flourish despite political stagnation.
Bahrain, the UAE and Qatar are the most likely to follow this prediction as they are thriving and growing in
Bahrain and the Gulf are unlikely to be able to prevent the devastating effects of rising food prices, said a UN World Food Programme official.
The organisation's Cairo-based deputy regional director for the Middle East, Central Asia and E