Thursday 2 April 2015

UAE relaxes penalties in cheque bounce cases

The UAE will stop imprisoning expatriates for writing cheques that bounce, Abu Dhabi daily The National reported on Tuesday, citing a senior official. The UAE's tough penalties for defaulting on loans, which is a criminal offe


Saudi stocks bounce back after early losses

The Saudi index bounced back from early losses to closes 0.1 per cent higher, helped by shares including banks. The all-share benchmark closed at 6,457 points, as the banking index edged up 0.04 per cent. Al Rajhi Bank gained 0.4 per cent


Oil bounces above $130 after steep 3-day slump

Oil prices bounced above $130 a barrel on Friday as buyers came back into the market after a more than 10 percent slide in three days. Easing tensions between Iran and the West and worries that high prices and a weaker US economy will unde

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