Monday 29 December 2014
 
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Energy subsidy

Energy subsidy cuts save Egypt $5bn in new budget

Energy subsidy cuts will save Egypt around 40 billion Egyptian pounds ($5.59 billion) in the 2014/15 budget that comes into effect on Tuesday, Finance Minister Hany Kadry Dimian said. Egypt's president approved a tightened bud

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Egypt sees energy subsidy bill up 12pc next year

Egypt's Finance Minister said on Sunday spending on energy subsidies next year will be 10-12 per cent above the 130 billion Egyptian pounds ($18.66 billion) budgeted for the current fiscal year, unless immediate reforms are made.

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Iran parliament approves energy subsidy cut

Iran's parliament has passed a bill that would cut energy subsidies to make the country less vulnerable to international sanctions over its disputed nuclear programme, the official IRNA news agency reported. The bill needs to be approved b

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