Wednesday, July 18, 2018

Money & Business

Constrained Spending Will Weaken Bahrain Economic Growth – Moody’s

The outlook for the Bahraini banking system remains negative, as constrained government spending will weaken economic growth, says Moody's Investors Service in a report...

Saudi Arabia records the highest-ever unemployment rate

Unemployment among Saudi citizens edged up to a record 12.9% in the first quarter of this year as private employers struggled under the weight...

Grand Court dismisses a multibillion-dollar fraud claim

In a landmark ruling for the Cayman Islands, the Grand Court emphatically dismissed a multibillion-dollar claim in Ahmad Hamad Algosaibi & Brothers Company (AHAB) v...

Saudi: 234,000 foreigners lose jobs in first quarter of 2018

Official data from Saudi Arabia, released Thursday, showed that 234,000 foreigners lost their jobs in the private and public sectors during the first quarter...

UAE: $7.1bn of bounced cheques in first 5 months of 2018

Bounced cheques worth AED26.2 billion ($7.1 billion) were reported in the UAE during the first five months of 2018, according to official figures.The Central...

Inside Qatar’s charm offensive to win over the US

 WASHINGTON/NEW YORK, July 5 (Reuters) - There was much bonhomie as a few dozen people, including members of Congress and U.S. administration officials, gathered...

Why Trump is pressing Saudi Arabia to lower oil prices

 LONDON, July 5 (Reuters) - The United States and Saudi Arabia appear to have reached an understanding: Washington will reduce or eliminate Iran´s oil...

Saudi tightens screws on firms helping illegal workers

The General Directorate of Passports has warned that establishments should not transport, hire, harbor or help illegal workers in any way.Those that do so...

Saudi ready to increase oil output when needed

Saudi Arabia has affirmed the kingdom's willingness to use its spare oil production capacity when needed to balance the global oil market.The Saudi Cabinet,...

Chinese researchers plan to turn Abu Dhabi desert green

A Chinese-UAE venture has announced plans to implement experiments dedicated to desert soilization technologies.UAE-based Mawarid Holding signed an agreement with Chongqing Earthskin Eco-technology to...

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