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  • KUWAIT, Oct 3- Kuwait's central bank is cutting its discount rate by 50 basis points to 2 percent, state news agency KUNA said late on Wednesday. The cut will take effect from Oct. 4, KUNA said in an SMS alert. It gave no further details.

  • DUBAI, Oct 3- Dubai's bourse hit its highest level in five months, while Abu Dhabi's index ended at a fresh 14- month high, as confidence in the reviving local property market boosted real estate stocks.

  • KUWAIT, Oct 3- Kuwait's cabinet has asked the country's ruler to consider dissolving parliament, state news agency KUNA reported on Wednesday, in a widely expected bid to clear the way for a new election and end months of political deadlock.

  • *Move expected after parliament fails to convene. KUWAIT, Oct 3- Kuwait's cabinet has asked the country's ruler to consider dissolving parliament, state news agency KUNA said on Wednesday, in a widely-expected bid to clear the way for new elections and end months of political deadlock. Political turmoil has held up a 30 billion dinar economic development plan.

  • KUWAIT, Oct 3- Kuwait's cabinet has asked the country's ruler to consider dissolving parliament, state news agency KUNA said on Wednesday, a widely-expected move after months of political deadlock.

  • DUBAI, Oct 2- The Abu Dhabi index hit a 14- month on Tuesday, lifted by real estate stocks which gained on the prospect of consolidation in the struggling sector. Aldar Properties and Sorouh Real Estate were the main drivers, together accounting for nearly 75 percent of all shares traded on the bourse.

  • *Kuwait needs to focus on investment. KUWAIT, Oct 1- Kuwait's government should take all necessary measures to cut spending and focus on investing in projects that will benefit the major oil producer's economy in the long-term, Central Bank Governor Mohammad al-Hashel said on Monday.

  • KUWAIT, Oct 1- Kuwait's government should take all necessary measures to cut spending and current monetary policy settings are in line with economic developments, Central Bank Governor Mohammad al-Hashel said on Monday.

  • KUWAIT, Oct 1- Kuwait's government should take all necessary measures to cut spending and current monetary policy settings are in line with economic developments, Central Bank Governor Mohammad al-Hashel said on Monday.

  • Under new rules, announced in early April with a Sept. 30 deadline, any bank's lending to the governments of the seven-member UAE federation and related entities is capped at 100 percent of its capital base, while lending to a single borrower is curbed at 25 percent.

  • KUWAIT, Oct 1- Banks in the United Arab Emirates will not be given an extension of the Sept. 30 deadline for them to limit their exposure to state-linked debt, a UAE central bank official said on Monday. Shamsi said the UAE central bank would deal on an individual, case-by-case basis with commercial banks on the issue of the deadline.

  • KUWAIT, Oct 1- Banks in the United Arab Emirates will not be given an extension of the Sept. 30 deadline for them to limit their exposure to state-linked debt, a UAE central bank official said on Monday. Shamsi said the UAE central bank would deal on an individual, case-by-case basis with commercial banks on the issue of the deadline.

  • Given the pace of global growth, experts say crude oil prices are higher than they should be – largely the result of concern Iran might close the Strait of Hormuz in its showdown with the U.S. and E.U. over the expansion of its nuclear program.Like Iran, some of the world’s other biggest oil producers can be subject to unpredictable and unstable political events, causing price shocks. Such was the case during the 2011 civil unrest in Libya. At the time, Libya was the 17th largest oil-producing c

    Big movements in the price of oil can have significant effects on the economy, and countries with the most oil within their borders are set to benefit, as demand for crude continues to rise.

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    New information suggests that Iran’s oil production may not have fallen as much as other industry reports have speculated. The latest publication of data by the Joint Organizations Data Initiative (JODI) published on Sunday showed Iran produced 3.72 million barrels per day in January, marking the highest output since December 2008.

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    The 13th International Energy Forum (IEF) kicks off on Tuesday in Kuwait City, bringing to the table energy ministers from 88 countries around the world representing some 90 percent of global supply and demand

  • Heat rises from stacks at the Chevron refinery in Richmond, California.

    With the most recent data from the Energy Information Administration and the CIA World Factbook, here are the countries with the biggest proven oil reserves.

  • The International Energy Agency says Libyan oil exports have "ground to a halt" because of the fighting between rebels and forces loyal to Libyan leader Moammar Gadhafi.

  • Protests in Libya

    Saudi Arabia has handed out about $37 billion, while Oman, Bahrain, Libya and Kuwait have boosted domestic spending up to 4 percent of GDP. The result is the sovereign wealth funds are less able to invest overseas.

  • Throughout the recent unrest in the Middle East, virtually no oil production has been affected, save in Libya, Sara Akbar, CEO of Kuwait Energy, told CNBC Tuesday.

  • Unrest in the Middle East has put investors on high alert as crude oil prices move seemingly with every development in the region. In order to understand the effect of those events on both US and global oil markets, a key figure to watch is the amount of crude oil produced daily in each country. With data from the Energy Information Administration (EIA), a division of the Department of Energy, CNBC.com took a look at the countries that produce the most crude oil on a daily basis. Production is d

    With data from the Energy Information Administration (EIA), a division of the Department of Energy, CNBC.com took a look at the countries that produce the most crude oil on a daily basis.