Yes, the Organization of Petroleum Exporting Countries (OPEC) needs such appraisal for their successful conclusion in short time in keeping their previous production quota unchanged. OPEC agreed to keep its production at 30 million barrels per day,
Is the oil market heading toward another cycle of uncertainty, but on the downturn side this time? The initial signals point to that direction. Four months ago, the price of a barrel of oil hovered around $126 and the talk at the time was it would be
Kuwait is moving to bring its information technology (IT) infrastructure in line with its neighbours by improving services, the network and the regulatory environment that governs the sector. In its latest annual Global Information Technology Report, the
With passenger traffic on the rise and new routes earmarked for its flag carrier, Ras Al Khaimah (RAK) is strengthening its foothold in the regional aviation market despite facing tough competition from the other emirates. The carrier, RAK Airways, has
While the Strategic Tunnel Enhancement Programme (STEP) may not have grabbed as many headlines as some of Abu Dhabi’s larger infrastructure projects, the new wastewater network is crucial to the long-term health and welfare of the city. At the centre of
In a move that is expected to strengthen food security in Oman, the Public Authority for Stores and Food Reserves (PASFR) announced in late May that it was planning to standardise the prices of certain essential items in different parts of the Sultanate.
The decline in oil prices to its lowest level since October 2011 is leading them to touching the danger zone. Certainly, it is coming so gently and in accordance to the price set by the leading producer: Saudi Arabia. It has been asking for a fair oil
Despite difficult conditions in the real estate market following the global economic downturn during 2009 and 2010, Ras Al Khaimah (RAK) has held up relatively well, and a number of developments are being pushed ahead. The real estate and business sector
Lenders in Bahrain are hoping that the solid rates of growth many banks posted for the first quarter of 2012, coupled with forecasts estimating that the economy should expand between 3.2% and 3.6% this year, mark the beginning of an upward turn for the
The Kuwait Stock Exchange (KSE) is in the midst of what has been described as the largest overhaul of its trading system in almost 20 years, and measures to privatise the bourse, streamline procedures and strengthen transparency all aim to raise the
A determined optimism is pervading Dubai’s markets, with the emirate’s growth set to top many expectations this year. Few would suggest, however, that the emirate is immune from the looming debt crisis in Europe. In mid-May, Dubai’s Economic Council
The UAE posted its best economic growth for five years last year - an impressive feat amid adverse global conditions. But to focus only on the official GDP expansion rate of 4.2 per cent does not paint a complete picture of the economy. A large part of
After a period of relative inactivity, Oman’s stock exchange, the Muscat Stock Market (MSM), could be about to see heightened activity with the listing of a number of important companies keenly anticipated. Of the 168 companies currently listed on the
Saudi Arabia is accelerating efforts to take its industrialisation process to the next level, moving from the processing of feedstocks – particularly hydrocarbons – towards utilising the resulting petrochemical materials for the manufacture of finished