Although they have made strides towards diversifying their economies away from oil, Gulf countries remain dependent on hydrocarbon revenues, making them susceptible to market fluctuations, S&P Global Ratings said.

'Gulf economies' high concentration and dependence on the hydrocarbon sector, which averaged about 30 per cent of GDP and 60 percent of total exports over 2015-16 – even considering subdued oil prices – could become"...

An overnight rebound in oil prices may buoy Arabian Gulf stock markets on Wednesday, while Saudi Arabia could regain some strength as the latest corporate earnings have been in line with analysts' expectations.

Brent oil has added about US$2 to above $50.50 a barrel since Tuesday, while global equities are little changed.

Saudi British Bank posted a 1.9 per cent drop"...

The Gulf Cooperation Council (GCC) countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and Abu Dhabi (a member of the United Arab Emirates) currently benefit from sizable hydrocarbon resources, at close to 30 per cent of global oil reserves and 20 per cent of global gas reserves (source: BP Statistical Review of World Energy 2017) relative to their population size (less than one per cent of the global population). This large hydrocarbon endowment and the high income it generates has resulted in past general government"...

Dozens of Palestinian refugees closed on Monday UNRWA's headquarters in Gaza city in protest at the Israeli siege and the worsening electricity crisis.

During a sit-in organized in front of UNRWA's headquarters, Palestinians called on the Agency to shoulder its responsibilities toward refugees in light of the tough economic and living conditions they are experiencing due to the Israeli blockade.

The"...

The European Union said it would be prepared to retaliate against the US should Washington hit Russia with new sanctions that affect EU-based energy companies, risking a deeper transatlantic split over economic and security policies.

The European Commission, the bloc’s executive arm, made the threat as US lawmakers prepare to give the green light as soon as this week to economic penalties against Russia over its meddling in last year’s"...

With the cost disparity between solar and conventional electricity generation fast disappearing, several leading power plant developers are eyeing the Middle East renewable energy market in order to boost growth, said an expert.

Economic and environmental sustainability has a direct relationship in which environmental measures contribute to economic gain, according to Wermuth Asset Management, a Family Office which also acts as a Bafin-regulated investment consultant.

The company is a specialist"...

Turkey's Zorlu Energy signed a memorandum of understanding (MoU) with Palestine's electricity distribution company JDECO for the construction and operation of solar power plants to provide electricity to Palestine, the company announced on Wednesday.

Zorlu reminded that JDECO provides a quarter of Palestine's electricity.

The company also said that it continues"...

Siemens AG, scolded by Chancellor Angela Merkel’s government in 2014 for courting Russian business at the height of the Crimean crisis, is now backpedaling from its dealings there after four gas-turbines destined for the southwest of the country were illegally transferred to the annexed region.
The Munich-based company has halted deliveries of power-generation equipment to Russian state-owned companies, it said in a statement on Friday. It’s also seeking to buy back the turbines and annul the original contract"...

QNB Group, the largest financial institution in the Middle East and Africa, has recently commenced operations in the city of Mumbai, the economic capital of the Republic of India.

The start of the Group’s operations in the Republic of India comes in support of its vision to become a leading bank in the Middle East, Africa, and Southeast Asia by 2020, in addition to establishing"...