Economy



SR800 billion Saudi budget likely in 2015

The Saudi budget would be around SR800 billion in 2015 if the price of oil ranges between $50 to $60 per barrel, said several experts recently.



Aldar to cut debt by over a third within two years

DUBAI: Abu Dhabi's Aldar Properties will cut its debts by more than a third over the next two years, its chief financial officer said on Monday, extending a trend that has already led to credit agenci



Dana Gas says Kurdistan failed to pay $100 million

DUBAI/LONDON: Dana Gas, one of the largest investors in Iraq's Kurdistan, said on Monday the semi-autonomous region had failed to pay $100 million as instructed by a London arbitration court, promptin



Chevron plans to pull out of $10bn Ukraine shale gas deal

KIEV: US energy major Chevron plans to withdraw from a $10 billion shale gas deal with Kiev, a senior Ukrainian presidential official said on Monday.






US factory output eclipses pre-recession high

WASHINGTON: US manufacturing output in November surpassed its pre-recession peak, as auto production kicked into a higher gear.




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