Tuesday 26 May 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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