Economy




Bank of England gives lenders a narrow pass in stress tests

LONDON: The Bank of England gave Britain's state-backed lenders a narrow pass in its debut annual stress tests on Tuesday, but warned that next year banks would face tougher checks of their capital st



White House: Economy gains momentum

WASHINGTON: The White House on Tuesday said its policies have paid off with the US growing faster than other advanced economies, but added that many Americans still struggle with low wages.





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.



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