Tuesday 1 September 2015
 
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cheap oil

Cheap oil pushes UAE into first fiscal deficit since 2009

The UAE is set to post its first fiscal deficit since 2009 because of lower oil revenues, but it can avoid any serious economic slowdown, the International Monetary Fund said after annual consultations with the local authorities. The UA

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Cheap oil slows Saudi, UAE projects but Qatar, Kuwait rise

Low oil prices are slowing new economic projects in Saudi Arabia and the UAE but project awards have accelerated in Qatar and Kuwait, the Abu Dhabi Commercial Bank (ADCB) said in a report showing the mixed impact of cheap oil on the Gulf.

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Cheap oil slows projects in Saudi Arabia, UAE

Low oil prices are slowing new economic projects in Saudi Arabia and the UAE but project awards have accelerated in Qatar and Kuwait, Abu Dhabi Commercial Bank said on Thursday in a report showing the mixed impact of cheap oil on the Gulf.

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Qatar undeterred by cheap oil, plans big projects

Despite global concerns on plunging oil prices, Qatar appears undeterred in its expansion programme, forecasting a real GDP growth of 7.7 per cent for 2015, according to the latest statistical update released by the Ministry of Developmental Pla

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Qatar, Kuwait in strong position to face low oil prices

While the export revenues of GCC countries are significantly affected from the recent oil price slide, Kuwait and Qatar are the most fiscally resilient countries owing to their low breakeven prices and large reserves, a report said.

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Total plans to cut spending over cheap oil

The chief executive of Total said the French oil company would slash spending on exploration by 30 per cent this year due to the drop in the price of oil. Patrick Pouyanne told the daily Le Monde that "these past two

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Cheap oil may boost growth, says Saudi economic city chief

Saudi Arabia's Emaar the Economic City (EEC) expects demand for its industrial and residential property to grow this year as companies increase investment despite the plunge of oil prices, a top executive said. Established in

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Cheap oil may boost growth, says Saudi economic city chief

Saudi Arabia's Emaar the Economic City (EEC) expects demand for its industrial and residential property to grow this year as companies increase investment despite the plunge of oil prices, a top executive said. Established in

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Russia forecasts economic slump as oil falls

Slumping oil prices have put Russia's economy on course for a sharp recession and double-digit inflation next year, government ministers said, as authorities scaled up a bailout for the first bank to succumb to this month's rouble crisis

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Healthy Dubai real estate market to ride out cheap oil

The plunge in oil prices may take more of the froth off Dubai's booming real estate market, but broad-based demand for property is likely to prevent any crash, said a report. As the global financial crisis slashed oil and equi

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