Kuwait’s real gross domestic product (GDP) has been projected to slow this year as the government cuts subsidies before recovering in the next two year as major development projects get underway, according to a report.
Top executives of US and Gulf airlines will take their dispute over whether "open skies" deals have led to unfair competition to a high-profile public forum in Washington on Tuesday as each side ramps up efforts to sway US regulators.
Costs could go up for expats and the private sector as Bahrain seeks to offset a projected shortfall in revenues, driven in large part by lower oil prices.
Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa told the Gulf Da
Egypt expects to slash its energy subsidies bill by 30 per cent in the 2014-15 fiscal year if global oil prices remain low, the oil ministry said, potentially lightening the burden on the cash-strapped co
Syria's state spending is expected to rise 12 per cent to 1.55 trillion Syrian pounds ($9.10 billion) next year, driven by higher social support costs, state news agency Sana reported citing a draft budget presented to lawmakers on
Malaysia will abolish subsidies for petrol and diesel from December 1, the government said on Friday, taking a bold step that could potentially save the government some 20 billion ringgit ($5.97 billion) annually.
Malaysia joins I
Kuwait's government has started reducing some state subsidy payments and is in an advanced stage of preparing a plan to cut subsidies for kerosene and electricity, the International Monetary Fund said.
Subsidy cuts are an impo
Yemen has reached agreement with the International Monetary Fund on a $560 million loan, the finance minister said on Friday, after the government cut fuel subsidies and ordered curbs on public spending.
The second poorest Arab country
Changes to the system of providing government subsidies in Bahrain are "imminent" and the issue is being studied, it was announced yesterday.
The government currently subsidises fuel, flour and meat (livestock and chicke