Thousands of layoffs at state-linked companies in Abu Dhabi, UAE are a fresh sign the Gulf's wealthy oil states are hunkering down for a long period of austerity as low crude prices pressure their economies.
Since mid-2015, th
The Gulf Cooperation Council (GCC) will cut telecom roaming charges for making and receiving calls and sending text messages within the six-nation bloc by an average of 40 per cent from April 1, an official said via state media on Thursday.
The International Monetary Fund is confident that Gulf Cooperation Council economies can make the large fiscal adjustments they need to cope with a period of low oil prices, IMF managing director Christine Lagarde said.
She said o
Wealthy Gulf Arab states such as Saudi Arabia and Qatar as well as the so-called BRICs emerging market nations should do more to help Syrian refugees, a senior US official said on Friday.
"I would like to see more aid come fr
Global humanitarian aid hit a record $24.5 billion in 2014 boosted by a nearly $1 billion extra from Gulf countries but the 20 per cent increase in funds failed to meet growing needs in conflict and disaster-hit areas, new figures showed on Thur
Gulf Arab countries have offered support for Qatar as host of the 2022 World Cup as criticism grows over the choice of the desert nation as the venue for world soccer's top event.
Swiss and US authorities are investigating bot
Rich Gulf Arab countries have so far failed to diversify their economies away from oil revenue and some may eventually face political challenges as a result, a senior Qatar central bank official said on Tuesday.
The comments by Kh
Capital outflows from Gulf states have totalled only about $780 million since the US Federal Reserve unveiled its plan to wind down asset purchases in May last year, a small fraction of the money leaving other emerging markets, according to a st
Saudi Arabia and other Gulf states, despite their mistrust of Iran, gave a qualified welcome to Tehran's interim deal with world powers over its disputed nuclear programme.
US-allied Saudi Arabia, locked in a struggle with Ira
The Arab world's energy exporting states are not saving enough of their oil windfall and as a group may start running a fiscal deficit in 2016 if current policies do not change, the International Monetary Fund warned on Tuesday.