ABU DHABI, UAE - Chief Investment Officer, Emerging Markets at UBS Global Wealth Management Michael Bolliger forecasts the UAE's gross domestic product (GDP) to stand at 3.5 percent in 2023, rising to 3.9 percent in 2024. In a statement to the Emirates News Agency (WAM), Bolliger shared the bank's positive...
Saudi Arabia’s output cut stabilizes global oil market
The market has raised prices in response to Saudi production cuts, anticipating tighter supplies. This shows producers' efforts to prevent oil prices from dropping significantly.
Iraq to resume Kurdish oil exports to Turkey Saturday
On Thursday the Kurdish authorities said in a statement that "the Kurdistan regional government and the federal authorities have reached a (final) deal on the resumption of oil exports". Hours later, Iraqi Oil Minister Hayan Abdel Ghani said crude exports would resume from Saturday.
Sonatrach plans $40bn investment
The Algerian firm will make the investments over five years.
UN commission pays $600 million to Kuwait oil firm for Iraq invasion losses
The UN Compensation Commission is to pay another $1.1 billion to the Kuwait Petroleum Company as compensation.
