BP wins right to appeal Gulf spill damages claims

Last Updated: Saturday, May 9, 2015, 10:27

BP Plc deserves the right to have a federal appeals court review some damage claims awarded under the settlement to compensate people and businesses harmed by the 2010 Gulf of Mexico oil spill, a U.S. appeals court ruled on Friday.

Gulf oil exporters should cut spending, diversify: IMF

Last Updated: Tuesday, May 5, 2015, 10:38

The wealthy monarchies, however, should "not react in a knee-jerk way to lower oil prices", the IMF Middle East and Central Asia chief Masood Ahmed told AFP in an interview Monday.

France, Qatar seal 6.3 bn euro Rafale fighter jet deal

Last Updated: Thursday, April 30, 2015, 15:31

Tensions in the Middle East with conflicts in Yemen, Syria and Libya, as well as fears of Iran`s growing influence in the area, have fuelled a desire across Sunni Gulf Arab states to modernise their military hardware.

Fund to focus Indian real estate launched in Dubai

Last Updated: Thursday, April 30, 2015, 15:29

UAE-based oil firm Gulf Petrochem has inaugurated a property fund focused on Indian real estate to encourage foreign investments into the country by offering tailor-made solutions.

UK government tells BP it would oppose takeover: Reports

Last Updated: Monday, April 27, 2015, 22:26

The British government has warned oil giant BP that it would oppose a foreign takeover of the company weakened in recent years by the Gulf of Mexico oil spill, media reports said Monday.

Payout from BP oil spill settlement tops $5 billion

Last Updated: Thursday, April 16, 2015, 03:55

The administrator overseeing a BP Plc fund to compensate people and businesses claiming they were harmed by the 2010 Gulf of Mexico oil spill said on Wednesday more than $5 billion has been paid out.

Sah Petroleums renamed as GP Petroleums

Last Updated: Wednesday, April 15, 2015, 18:15

UAE-based Gulf Petrochem Group Wednesday said it has renamed its recently-acquired Sah Petroleums, an Indian listed lubricant company, as GP Petroleums Ltd.

GCC nations facing pressure due to fall in oil prices: Report

Last Updated: Monday, April 6, 2015, 15:46

The Gulf Cooperation Council (GCC) countries like Oman and Qatar are facing considerable pressure from the slump in oil prices, as they are heavily dependent on oil and gas revenues, a new report said.

Qatar`s economy grows more than 6% in 2014

Last Updated: Sunday, April 5, 2015, 17:12

Shrugging off any fears regarding the oil price slump, the energy-rich Gulf economy expanded by 6.2 percent last year, according to the ministry of development planning and statistics.

Diamond trade under lens for suspected terror financing

Last Updated: Tuesday, March 17, 2015, 18:36

Trading of diamonds especially with a gulf country has come under the lens of intelligence agencies here for suspected terror financing and money laundering.

Qatar Airways boss accuses Delta of flying 'crap' planes

Last Updated: Monday, March 16, 2015, 21:42

The chief of Qatar Airways today denied his company receives subsidies and accused rivals Delta Air Lines of flying "crap" older planes, escalating hostilities between Gulf and American carriers.

Qatar $200-bln spending spree on track despite oil price drop

Last Updated: Sunday, March 15, 2015, 22:07

Qatar will stick to its USD 200-billion (190 billion-euro) infrastructure spending splurge, the energy-rich Gulf state`s premier vowed on Sunday, despite the fall in global oil prices.