Egypt paid foreign oil companies $600 million in arrears in August and still owes them $2.9 billion, the petroleum minister told Reuters on Wednesday.
Sherif Ismail also said Egypt aims to lower the amount of arrears it owes forei
Iraq has paid foreign oil companies $9 billion in remaining arrears for 2014 and was paying outstanding fees for 2015 in stages until the beginning of next year, its oil minister said.
Adel Abdel Mehdi wrote in
A private hospital in Bahrain has agreed to pay staff who are owed up to six months in outstanding salaries by early next month, after several employees staged a wildcat strike in its lobby yesterday (April 9).
Nurses, carers and
Egypt promised on Wednesday to pay $1.5 billion of the $6 billion it says it owes oil firms, hoping the announcement made at an investment conference will revive confidence in an economy battered by nearly three years of political upheaval.
Around 3,500 businesses in Bahrain owe the Labour Market Regulatory Authority (LMRA) around $1.14 million in arrears, said a top official, adding that LMRA will start receiving requests from Sunday.
The figures were revealed as officials a
Cash-strapped Dubai developer Nakheel is not in arrears to Arabtec as much as some analysts fear, said Ziad Makhzoumi, chief financial officer of the largest builder in the UAE.
Arabec, which expects to receive an overdue payment by end-Ju
The Iranian banking system has loans worth $38 billion, almost twice its amount of capital, in arrears, a senior official said in remarks published on Saturday, describing it as a 'serious problem'.
Mostafa Pourmohammadi, head of t