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Qatar to withdraw from OPEC and focus on gas exports
December 3, 2018--Qatar said on Monday it was quitting OPEC from January to focus on its gas ambitions, taking a swipe at the group's de facto leader Saudi Arabia and marring efforts to show unity before this week's meeting of exporters to tackle an oil price slide.
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Dubai stock market: Is this just another correction?
December 2, 2018--Much of the growth seen in 2018 is due to a big rise in state spending
For over 2 decades, Dubai has prospered as one of the fastest developing international cities, attracting people and capital from across the globe. In 2009, Dubai needed a $20 billion bailout from Abu Dhabi. Dubai's economy roared back and has grown by a third since then, buoyed by foreign trade, tourism and its status as the main regional hub for business services.
Dubai, Abu Dhabi stocks' yearly moves to diverge for first time
November 28, 2018--The fates of the two biggest stock gauges in the United Arab Emirates are set to diverge this year for the first time on record.
Abu Dhabi's ADX General Index has climbed almost 13% this year, putting it among the world’s best performers. Headed in the opposite direction, Dubai's main gauge has slumped 20% and is set for its worst annual performance in a decade.
Gulf Economic Monitor: Staying the Course on Reforms
November 27, 2018-- A sustained increase in oil prices over the past two years has driven an economic recovery in the Gulf Cooperation Council (GCC) countries. Economic growth for the GCC region is expected to reach 2% in 2018, up from negative 0.3 % in 2017, thanks in part to higher oil production and a slower pace of fiscal consolidation.
However, volatility in oil prices, manifest in recent sharp declines over the past month, and continued heavy dependence on energy sector, underscore the importance of staying the course of structural reforms.
view the World Bank Gulf Economic Monitor: Staying the Course on Reforms
Mideast Stocks-Saudi petchems lead Gulf lower on oil price tumble
November 25, 2018--Saudi Arabia's stock market led Gulf bourses lower early on Sunday after oil prices plunged nearly 8 percent at the end of last week because of intensifying fears of a supply glut.
Mideast Stocks: Qatar smarts from MSCI decision, Gulf mostly moves little
November 15, 2018--Qatar's stock market continued to suffer in early trade on Thursday from MSCI's decision to exclude two of its major stocks in a semi-annual index review, while the rest of the Gulf moved little.
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Dubai Economy Tracker signals slowest growth since March '16
November 12, 2018--This report contains the latest release of data collected from a monthly survey of business conditions in the Dubai non-oil private sector. Sponsored by Emirates NBD and produced by IHS Markit, the survey provides an early indication of operating conditions in Dubai.
Summary
Whilst the latest data signaled an improvement in the health of Dubai's non-oil private sector, the rate of growth weakened to a 31-month low. Slower improvements in activity, new work and another contraction in employment contributed to the slowdown. Contrary to the general trend, the construction sector saw a stronger expansion in the latest survey.
Mideast Stocks: Saudi stocks hit more than two-week low as weak oil prices weigh on Gulf
November 11, 2018--Saudi stocks slumped to their weakest level in more than two weeks on Sunday, hurt by the latest slump in oil prices, which also dragged most Gulf markets lower.
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Mideast Stocks: Banks lift Saudi index, most Gulf markets mixed
November 6, 2018--Saudi Arabia's stock market inched up on Tuesday buoyed by the banking sector, while real estate shares propped up Dubai's index and other regional Gulf markets were mixed.
Saudi Arabia's bourse was up 0.4 percent after half an hour of trading, with Al Khaleej Training and Education jumping 5.7 percent after its third-quarter revenue rose.
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