Monday 30 May 2016
 
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Egypt approves growth plan, deficit-cutting budget

Egypt's President Abdel Fattah Al-Sisi has approved the 2016-2017 draft budget, as well as an economic development plan, and sent both to parliament for passage, state news agency Mena said.   The draft budge

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Saudi Arabia ‘not prepared’ to cut oil production

Saudi Arabia is "not prepared" to cut oil production, Agence France-Presse reported, quoting the Saudi foreign minister Adel Al-Jubeir.   "If other producers want to limit or agree to a freeze in t

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Robotic surgery ‘can cut obesity’ in Bahrain

Bahrain’s obesity rate could be trimmed down by as much as 30 per cent if more people opted for robotic weight-loss surgery, according to a visiting expert. Surgical gastroenterologist and bariatric surgeon Dr Prasad Krishnan said the pr

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Oil heads for weekly gain on supply cut deal hopes

Oil edged up above $34 a barrel on Friday, a gain of some 25 per cent from the 12-year lows seen earlier in January, on hopes that a deal between major exporters to cut production could help reduce one of the worst oil gluts in history.

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Oil climbs on hopes for output cut, dollar slips

Crude oil prices rose to their highest in three weeks on hopes for a pact among oil producers to cut output, while the dollar slipped on bets that interest rate hikes by the Federal Reserve would be more gradual than it has suggested.

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Russia ‘ready to discuss’ oil output cuts

Russia's oil industry has argued for years that it cannot cut output to support falling global prices for purely technical reasons; in reality it can - as long as it has the political will.   The days that ol

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Projects shelved in Bahrain to cut spending

Public projects worth millions of dinars in Bahrain’s Capital Governorate have been shelved in an attempt to cut government spending. Members of the Capital Trustees Board said the projects, which include public parks and walkways, were

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Projects shelved in Bahrain to cut spending

Public projects worth millions of dinars in Bahrain’s Capital Governorate have been shelved in an attempt to cut government spending. Members of the Capital Trustees Board said the projects, which include public parks and walkways, were

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Saudi contractors' advance payments cut

Saudi Arabia's finance ministry has cut advance payments to firms doing construction work for the government to five per cent of the contract value from 20 per cent, a newspaper reported on Wednesday in a fresh sign of a clampdown on state s

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150 flights between Saudi, Iran halted

Around 150 direct flights between Iran and Saudi Arabia carrying thousands of pilgrims every month have been halted as diplomatic ties between the two countries were severed, aviation sources said on Tuesday. Saudi Foreign Ministe

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