MIDEAST STOCKS-Saudi rebounds on spending pledge; Gulf markets stabilise | Reuters:
"Most Gulf stock markets regained strength on Wednesday as oil's slide paused, with blue chip banks pushing Abu Dhabi up sharply and Saudi Arabia's bourse jumping after the kingdom's finance minister said the government would continue spending heavily.
Brent crude held below $60 a barrel on Wednesday, at roughly the same levels as on Tuesday, as major oil producers signalled they would maintain output despite a supply glut and faltering demand in Russia and Europe.
Saudi Finance Minister Ibrahim Alassaf partially reassured investors when he said his government would continue spending on development projects and social benefits in its 2015 budget, and that it would maintain a "counter-cyclical" policy in the face of challenging global economic conditions."
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