Wednesday, November 25, 2015

After Saudi, S&P cuts Oman credit rating over cheap oil

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Finance and Economy
After Saudi, S&P cuts Oman credit rating over cheap oil
Country posted a budget deficit of OMR2.93 billion in the first nine months of 2015...
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UAE banks cull 350 jobs

International lenders did not disclose specificities, but said it was part of global cost-cutting plans...
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UAE earmarks AED300 billion for innovation projects
Distributes investments across healthcare, space sciences, renewable energy projects and aviation...
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Energy
Saudi Arabia continues with investments despite crude decline: report
Oil minister: oil prices will rebound soon and fossil fuel will remain main source of energy for decades...
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Arab countries consumed 6.8 million barrels of oil equivalent in 2014
oil and gas revenues played a major role in economic and social transformations in Gulf countries...
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Discouraged by cheap oil, shale oil investors defer Jordan's ventures
Country imports 97 per cent of its energy annually at 18 per cent of GDP...
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Real Estate
Saudi real estate funds' assets down 14 per cent in third quarter
Assets of these funds comprise 3.2 per cent of their investments, whose value amounts to SAR113.5bn...
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Number of real estate deals in Kuwait declines by 29 per cent in Q3
Q3 deals represent 71 per cent of the total number of deals in the previous quarter....
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     News
US missions urge American expats in UAE to remain vigilant
Consular message advises to exercise caution at public places...
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Middle East job market loses pace

UAE is the third-best performing country in terms of job demand in the GCC...
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Dubai expects five per cent economic growth

UAE economy also to continue growth in light of good performance of various sectors...
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Hilton Abu Dhabi unveils McLaren-Honda-themed racing suite
Hotel charges AED3,200 for the room, which comes with executive lounge access...
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