Spain’s jobless claims rise again in November

Spain’s registered jobless rose for the fourth consecutive month in November official data showed on Wednesday, and was seen edging higher as the recession weighs and a multi-billion euro stimulus package loses steam. The Spanish economy is not expected to emerge from recession until next year as it reels from the collapse of a decade-long…

Some Emiratis glad Dubai’s ambitious plans dented

Dubai nationals were alarmed by the fallout from the emirate’s debt standstill, but many hope the crisis may stem the torrent of foreigners into the conservative Gulf Arab city, where locals are outnumbered ten to one. The freewheeling emirate, one of seven that form the United Arab Emirates, sent jitters through global markets last week…

Uganda poised to become top-50 oil producer

A deal last week has brought Uganda a step closer to becoming a significant oil producer, offering billions of dollars of fresh investment to develop newly discovered oilfields. Italian energy giant Eni said on Monday it had agreed to buy a stake in two large oil exploration blocks in Uganda for up to $1.5bn. For…