#Economy

Saudi freezes new trade with Canada, expels ambassador

The move came after Canada’s foreign ministry urged Riyadh to release arrested civil rights activists

Saudi residents to need registered rental contract for work permit renewal

The new requirement will come into force from later this year

UAE to approve law allowing 100% foreign ownership of companies by year-end

Previous attempts to introduce the legislation have been met with opposition from some Emiratis

Saudi’s expat dependent fee: Everything you need to know

The fees have to be paid through the government-run SADAD payment banking system

Qatar predicts three years of budget deficits as low oil prices bite

Qatar forecast a fiscal deficit of 7.8 per cent of GDP this year, the first deficit in 15 years

Iran Exits Recession With 4% Growth In Six Months, Rouhani Says

The International Monetary Fund expects Iran’s economy to expand 1.5 per cent in 2014.