Negotiations are underway between Bahrain’s MPs and the government to scrap electricity and water subsidies for expatriates and big businesses. Parliament’s public utilities and environment affairs committee chairman Adel Al Asoomi
The Emir of Kuwait urged the cabinet and parliament on Tuesday to cut state spending in response to slumping oil prices, warning that any delay would increase the damage to the government's finances.
The remarks by Sheikh Saba
A meeting of Opec and non-Opec oil market experts this week is unlikely to increase the prospect of joint co-operation on supply curbs or show much support for Venezuela's proposed price band, Opec delegates and analysts said.
Global oil investments this year are on track to drop by 20 per cent, marking their biggest decline in history, Fatih Birol, head of the International Energy Agency, said on Friday.
A halving in oil prices in t
Subsidy relief must be offered to help small and start-up businesses succeed in the wake of planned government cuts, a prominent business leader has argued. Plummeting oil prices over the past 12 months have forced Bahrain to rethink its subsi
Far fewer Egyptians are complaining about the kind of power cuts that fuelled unrest in the past but government energy policies apparently focused on appeasing the public are dealing a blow to industries vital for economic growth.
Oil rose above $60 a barrel on Friday for the first time this year, bringing its gain this week to almost four per cent, supported by signs that deeper industry spending cuts may curb excess supply.
Also supporting oil, growth in
Women hired under a graduate recruitment scheme in Bahrain face losing their jobs because of budget constraints, according to a senior unionist.
The General Federation of Bahrain Trade Unions (GFBTU) has received several complaint
Egypt's central bank raised key interest rates on Thursday in what was seen as an attempt to curb inflation pressures less than two weeks after the government slashed subsidies on fuel and electricity.
The central bank raised
India has sought up to 80,000 barrels per day (bpd) extra oil from Iraq in 2012/13, days after placing a similar request with top exporter Saudi Arabia to meet demand from its expanding refineries.
India now buys more than 340,000 bpd oil