Friday 19 December 2014
 
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Finance Ministry

Kuwait sees $3.5bn fall in 2013/14 spending

Kuwait expects to spend around one billion dinars ($3.5 billion) less in the 2013/14 fiscal year, according to the state budget published by the Ministry of Finance, despite the major oil producer forecasting higher revenue. Oil-p

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Bahrain ministry seeks $157m budget

The Municipalities and Urban Planning Affairs Ministry has submitted an annual budget request of BD60 million ($156.9 million) to be approved by the Finance Ministry, said a senior government official. The budget has been brought under

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Bahrain set to receive GCC aid

Bahrain is set to receive the first tranche of a GCC development package aimed at helping boost vital housing, roads, electricity, water, industrial and social development projects. Under an agreement, Kuwait's share

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Bahrain’s $238m annual interest ‘may rise’

Bahrain’s government pays BD90 million ($238.7 million) every year as interest on loans and the figure is set to increase in coming years, said the Finance Ministry. A report from the Ministry added that the government deduc

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UK's finance ministry gains more powers

Britain's finance ministry will have new powers to order the Bank of England (BoE) to pump money into the financial system in any future banking crisis. UK finance minister George Osborne yesterday published a law to radically reform the w

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$265m food fund for Bahrain launched

Bahrain's Finance Ministry, acting through the Future Generation Reserve and the National Bank of Bahrain (NBB), has agreed to set up a BD100 million ($265.2 million) food fund in the kingdom. The objective of the Gedha Fund is to

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UAE to study demands for spending rise

The UAE’s finance ministry will assess demands to raise federal budget spending in coming weeks and it is not planning to issue a sovereign bond at the moment, an official said on Saturday. The world's third-largest oil exporter had or

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UAE seeks $34.4 billion cut in budget

The UAE finance ministry has proposed a five per cent cut in the state budget for three years to Dh126.3 billion ($34.4 billion), a local paper said. Arabic daily Al Ittihad said it obtained a September letter to officials from Minister of

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