Low crude production costs and fiscal breakeven prices will support the GCC in a period of low oil prices increasing the pressure to diversify away from the hydrocarbon sector, a report said.
Because of the region’s accumula
The GCC will see a real GDP growth of 2.8 per cent in 2015, slowing from 4 per cent in 2014 on account of flattish hydrocarbon production and softer non-hydrocarbon sector activity, a report said.
Real GDP growth in Saudi Arabia w
Kuwait Energy, an independent oil and gas company, and its partner the Egyptian General Petroleum Corporation (EGPC), have announced the discovery of hydrocarbons on the East Ras Qattara development lease in Egypt.
Abu Dhabi’s economic expansion across key sectors such as aviation, education, and healthcare, coupled with the continued growth of the hydrocarbon industry is driving increased demand for office and industrial space in the emirate, accord
Saudi Arabia's economic growth eased to an annual rate of 4.7 percent in the first quarter of 2014 as labour market measures curbed activity in some sectors, but the expansion was still stronger and more widespread than growth a year ago.
Bahrain's economic growth accelerated strongly in the first quarter of 2013, helped by a revival of oil output, official data showed on Sunday.
Gross domestic product, adjusted for inflation, expanded 2.5 percent quarter-on-qu
The Middle East is facing a double dilemma over the global competitiveness for oil in the future, said experts at a panel discussion held by the International Institute for Strategic Studies (IISS) - Middle East in Bahrain.
Although business optimism levels in Saudi Arabia have lowered for the third quarter of 2012 due to aggravated global risks, a large portion of businesses still expect expansion of their businesses and new order activity, said an expert.
The GCC’s trade surplus will average around $493 billion in 2012-13 as the oil prices remain high, offset by import growth at around 3.5 per cent, said a report.
This is slightly below the trade surplus levels of 2011 which is estimated at
The trade across the Middle East and North Africa (Mena) region is expected to grow by 131 per cent to 2026, faster than the global growth over the same period (86 per cent), according to a new report.
HSBC in its latest 'Trade Connections