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Saudi economy is very strong: finance ministerSaudi Arabia's financial position is very strong despite the plunge in oil prices since last year, and the kingdom is focusing spending on economic development projects to stimulate the private sector, Finance Minister Ibrahim Alassaf said o More… |
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Most major markets up in 2014 despite oil's plungeMost major Middle East stock markets ended 2014 with annual gains after wild swings which underlined their fragility as well as their promise to investors. Gulf markets soared in the first half of the year as the region became mor More… |
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Saudis to spend heavily in 2015 budget, shrug off oil plungeSaudi Arabia will lift state spending to a record in its 2015 budget while covering a deficit with its huge fiscal reserves, the government said, providing the first detailed look at how the world's top oil exporter aims to handle an era of More… |
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GCC braces for $350bn loss on oil plungeGulf countries could lose at least half their oil revenues or around $350 billion a year as crude prices plunge, according to senior analysts. The GCC states, which pump about 17.5 million barrels per day, are More… |
