India's economic growth slowed in the last quarter of 2015, adding to pressure on Prime Minister Narendra Modi's government to expedite stalled reforms in the next session of parliament when it presents its annual budget.
At a three-day conference in Riyadh this week, hundreds of Saudi Arabian officials and businessmen discussed ways to rescue the economy from low oil prices, by developing new industries and giving opportunities to the private sector.
Saudi Arabia's Shura Council is considering proposals to revise the investment strategy of the kingdom's social insurance fund in order to raise returns, the government advisory body said in statement posted on state news agency SPA on T
Bahrain’s economic reforms and robust diversification programmes will deliver higher standards of living and fulfill citizens’ aspirations, government ministers said. Six of them – Finance Minister Shaikh Ahmed bin Mohammed A
Kuwait is considering several options for energy subsidy reforms but any possible rise in domestic prices would not impact citizens' livelihood, the chief executive of state oil firm Kuwait Petroleum Corp said on Tuesday.
Decreasing Saudi Arabia's reliance on oil revenues could include the introduction of VAT and so-called sin taxes, increasing religious tourism and securing major investments to build education, transport, and healthcare sectors.
Drastic measures, including the possibility of taxation, are being considered by Bahrain’s government as it struggles to cope with falling revenues in the wake of plummeting oil prices, a report said.
Industry, Commerce and
The queues of cars stretching outside petrol stations in Saudi Arabia on Monday night to fill up before higher fuel prices came into effect underscored the immediate impact of economic changes in the kingdom and pointed to the risks facing refor
Saudi Arabia, its finances hit by low oil prices, announced plans to shrink a record state budget deficit with spending cuts, reforms to energy subsidies and a drive to raise revenues from taxes and privatisation.
The 2016 budget,
Economic reforms and infrastructure projects worth $32 billion will boost investment and maintain Bahrain’s growth momentum, the Crown Prince said yesterday (December 13). Bahrain is implementing a comprehensive programme of structural e