Dubai’s benchmark stock index fell the most in a month, tracking a decline in global markets last week, on investor concern this year’s rally was overdone given prospects for earnings growth. Saudi Arabia’s gauge dropped.
Venezuela, holder of the world’s largest oil reserves, requires the price of Brent crude to average $121 a barrel this year, about $14 more than current prices, for the country’s government to balance its budget, according to Deutsche Bank AG.
Qatar’s national oil company has dropped out of a group of state-backed investors seeking to buy a stake in Occidental Petroleum Corp.’s Middle East business amid a political dispute in the region, people with knowledge of the matter said.
The Pentagon is working with a dozen countries, including allies in the Persian Gulf region and east Asia, to bolster the cybersecurity of their militaries and build a collective defense against attacks.