Edition:
United Kingdom

Andrew Torchia

Dubai 2019 budget halts spending growth as revenue rise slows

01 Jan 2019

DUBAI Dubai expects to almost halt the growth of state spending this year as revenues expand more slowly because of the emirate's efforts to stimulate business investment, according to the 2019 state budget released on Tuesday.

UPDATE 1-Dubai 2019 budget halts spending growth as revenue rise slows

01 Jan 2019

* Infrastructure spending falls from last year's ultra-high level

UPDATE 1-Oman slows spending growth in 2019 budget, may not cut deficit

01 Jan 2019

* 86 pct of deficit to be covered via local and foreign borrowing

MIDEAST STOCKS-Dubai leaps as Gulf ends strong year; oil clouds 2019

31 Dec 2018

* Dubai is world's worst 2018 performer in local currency terms

UPDATE 2-Saudi GDP growth speeds up in Q3, non-oil sector still slow

31 Dec 2018

* Oil output restraint from Q1 to hit headline GDP (Adds analysis of outlook for 2019)

MIDEAST STOCKS-Saudi the only bright spot in a sluggish region

30 Dec 2018

* Year-end holidays cause lowest Saudi trading volume in years

Little room to manoeuvre as Saudi slows drive to cut deficit

19 Dec 2018

DUBAI Saudi Arabia is slowing a drive to cut its huge fiscal deficit in order to revive the economy, but the state budget plan for 2019 suggests it may not have room to boost growth by much.

Iran engineers rial recovery as it defies U.S. sanctions

13 Dec 2018

Iran is intervening in the foreign exchange market and threatening speculators to engineer a dramatic recovery of its rial currency, easing pressure on the oil-exporting economy as Tehran defies renewed U.S. sanctions.

Dubai property prices sink 7.4 percent as UAE jobs growth slows

04 Dec 2018

DUBAI Prices for Dubai's residential real estate sank 7.4 percent in the third quarter of 2018 from a year earlier, with the drop accelerating from a 5.8 percent fall in the second quarter, the United Arab Emirates central bank said in a report on Tuesday.

UAE to expand recognition of fund licenses in bid to lure investment

30 Nov 2018

DUBAI United Arab Emirates regulators said they would expand their recognition of investment fund licenses in an effort to persuade more funds to base themselves in the country, in the face of competition for the business from other states in the region.

World News

Europeans vote, with EU future in balance

Europeans vote on Sunday in an election expected to further dent traditional pro-EU parties and bolster the nationalist fringe in the European Parliament, putting a potential brake on collective action in economic and foreign policy.