United Arab Emirates

This tag is associated with 8 posts

Supply Problems In Iraq Boost Crude To $37

Oil prices rallied as OPEC crude output fell by 280,000 barrels per day (bpd) in February, according to a Reuters survey. The main reason is an involuntary disruption of supplies from a pipeline in Iraqi Kurdistan that was recently pumping about 600,000 bpd. The pipeline has been offline since February 17 and could stay closed … Continue reading

Market Liquidation: Sovereign Wealth Funds May Double Equity Sales To $404 Billion In 2016

Sovereign wealth funds (SWFs) — mostly oil-rich nations such as Norway, Russia, and the Gulf states — have been aggressively selling stocks and other securities amid a plunge in the price of oil, and they are poised to sell significantly more this year if oil doesn’t recover. SWFs could pull $404.3 billion from global stock markets in 2016 should oil prices stay between $30 to $40 per … Continue reading

Sovereign Wealth Funds In The New Era Of Oil

By Rabah Arezki, Adnan Mazarei, and Ananthakrishnan Prasad As a result of the oil price plunge, the major oil-exporting countries are facing budget deficits for the first time in years. The growth in the assets of their sovereign wealth funds, which were rising at a rapid rate until recently, is now slowing; some have started … Continue reading

As Oil Declines, The UAE Is The Safest Bet In The Middle East

While the stalemate against the Islamic State, or ISIS, sits just a few hundred miles away and oil receipts dropping by the day, the glittering skyscrapers and perennially superlative-laced cities of the United Arab Emirates are filled with citizens and expatriates sitting by brand-new pools, sipping cocktails, and checking their swelling bank accounts. Even these … Continue reading

UAE Hikes Gas Prices By 24% As It Halts Subsidies Amid Oil Bear Market

The United Arab Emirates (UAE), the second-largest Arab economy and OPEC’s third largest oil producer, will hike unleaded gasoline prices by 24 percent in August as it becomes the first country in the oil-rich Persian Gulf to remove subsidies, the UAE’s official WAM news agency reported on Tuesday. Drivers in the UAE will now pay 2.14 dirhams per liter … Continue reading

Dubai Says Will Bolster Police Force With Introduction Of Robocops By 2017

The ultra-wealthy nation of the United Arab Emirates (UAE) is planning to bolster its police force by rolling out a line of “robocops” by 2017, according to a report from UAE newspaper The Khaleej Times. The move by the UAE to introduce these robocops is aimed at helping the police force to deal with its increasing population and … Continue reading

Saudi Arabia: S&P Lowers Outlook On Oil Price Negative Trend

S&P Rating agency has lowered the outlook for Saudi Arabia to negative at the back of sliding oil prices. The country is the world’s top oil exporter. The agency maintained its sovereign credit rating for the kingdom due to the country’s very solid fiscal condition and despite the substantial deficit planned. S&P also stated that “… … Continue reading

World’s Cheapest Electricity To Be Produced In Dubai

By Sputnik Dubai has launched an ambitious solar power plant project planning to produce up to 1,000 megawatts of the world’s cheapest electricity by 2030. “Dubai Electricity & Water Authority [DEWA] awarded a contract to build the 200-megawatt plant to a group led by Saudi Arabia’s ACWA Power International. The 1.2 billion dirham ($330 million) generating station will be completed in April 2017,” Bloomberg … Continue reading

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