Saudi Arabia will lift state spending to a record in its 2015 budget while covering a deficit with its huge fiscal reserves, the government said, providing the first detailed look at how the world's top oil exporter aims to handle an era of
Saudi Arabia plans to raise government spending by 0.6 per cent to a record high next year while covering a large budget deficit due to plunging oil prices with its huge fiscal reserves, the Ministry of Finance said on Thursday.
Saudi Arabia's 2015 state budget is expected to raise spending marginally from this year's original plan while covering a deficit due to sliding oil prices with the kingdom's huge fiscal reserves, a Saudi newspaper reported on Tuesda
Gulf stock markets may stay firm on Monday after two days of strong gains, buoyed by hopes that oil prices have found at least a short-term floor and that Saudi Arabia will announce a 2015 budget that includes heavy government spending.
Dubai Electricity & Water Authority (Dewa) has approved a total budget of Dh22.9 billion ($6.23 billion) for the upcoming year compared to Dh20.6 billion ($5.6 billion) in 2014.
The new budget ensures a reliable supply of elec
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
Saudi Arabia's King Abdullah appointed new ministers for health, higher education, transport, agriculture, information and Islamic affairs on Monday as part of the kingdom's broadest reshuffle of second-tier posts in years.
Iraq's government reached a formal agreement on Tuesday with Kurdish regional authorities to end a protracted dispute over oil exports and budget payments to the semi-autonomous Kurdish region.
Finance Minister Hoshiyar Zebari
An advisory body to Oman's government has suggested sweeping spending cuts and tax rises, including a levy on liquefied natural gas exports, to cope with the hit to state revenues from the plunge in oil prices.