Middle East countries can cope with the financial turmoil better than many other countries as they have the cash to survive and even invest, Sameer Al Ansari, CEO at Dubai International Capital, told CNBC Monday.
The developments show how the global financial crisis has torn through the Arab Peninsula, until recently thought immune due to massive sovereign savings and earnings from energy exports, with almost the same violence as in Europe and North America.
Has all the volatility in this market left you with indigestion? Maybe there’s relief ahead and we’re not talking antacid tablets.
Top oil exporter Saudi Arabia provided the most visible evidence yet of adhering to OPEC's deal to curb output by telling refiners in Asia that it would cut December supplies by 5 percent, term lifters said on Monday.
Top oil exporter Saudi Arabia has already cut significantly crude supplies to some of its customers, industry sources said on Tuesday, quelling doubts OPEC would stick to its latest output deal.
OPEC on Wednesday deepened its links with major non-OPEC producer Russia and said it was cutting back output by around half a million barrels per day.
Four years of Olympic navel gazing starts here -- and it's about time the Brits got on board. As a nation we so love moaning about our capital city, London, that we ignore the cool rating it gets from the rest of the world.
Bill Browder, CEO of Hermitage Capital told "Squawk Box Europe" viewers to stay off the financial grid to preserver their capital.
U.S. presidential candidate Barack Obama hopes his visit to Europe and the Middle East will show U.S. voters that he is a safe pair of hands, the Democrat said in an interview on Friday.
U.S. presidential candidate Barack Obama urged Europe on Thursday to stand by the United States in bringing stability to Afghanistan and confronting other threats from climate change to nuclear proliferation.
Despite the credit crisis and deteriorating economic outlook, Islamic corporate bond issuance in the Gulf soared over the past year, the Financial Times reported Tuesday.
The venture will be named K-Dow Petrochemicals and the chief executive will be James Fitterling, currently business group president at Dow's plastics division, the companies said.
The world's top oil exporter Saudi Arabia wants to see lower oil prices, Saudi King Abdullah said in an interview with Italian newspaper La Repubblica.
Qatar Oil Minister Abdullah al-Attiyah said on Friday that he saw no demand for the additional crude that Saudi Arabia has pledged over the past few months to pump Saudi Arabia, the world's top exporter, has promised to step up production to its highest rate in three decades in an effort to tame oil prices, which have surged nearly 50 percent this year, hitting a record high $145.85 a barrel last week.
Warren Buffett's Berkshire Hathaway is helping to finance Dow's just-announced deal to buy specialty chemical maker Rohm and Haas for over $15 billion in cash. Berkshire is contributing an equity investment in the form of $3 billion worth of convertible preferred securities. The Kuwait Investment Authority is also making a $1 billion investment.
Iran's OPEC governor said on Wednesday the oil market was saturated and blamed policies of the Group of Eight (G8) rich countries for a price surge, the state broadcaster reported on its website.
Oil is on the boil, again, this morning over renewed speculation concerning Israel’s intentions on Iran’s nuclear capabilities. Once again, we awake to a raft of comments from various officials in the protagonist countries about a possible military strike on Iran.
There is "no shortage" in the oil market and OPEC member countries and would prefer a lower price than the current highs, OPEC Secretary General Abdalla El-Badri told CNBC on Tuesday.
Oil prices would not ease even if production were raised because speculation and taxes are behind the soaring market, Saudi Arabia's King Abdullah was quoted as saying in a Kuwaiti newspaper on Tuesday.
The current dip in gold prices is temporary and demand for the precious metal is likely to rise in the medium term, Ronald-Peter Stoferle, international equities analyst at Erste Bank, wrote in a market note Wednesday.