Friday 27 May 2016
 
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Government spending

Oil slump, GDP slowdown to hit Saudi property market

In 2016, a challenging macroeconomic environment including low oil prices and a stronger dollar, will continue to impact Saudi Arabia’s real estate market, along with a slowdown in GDP, government spending and overall liquidity, said an in

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Top trends for Saudi real estate market in 2016

A challenging macroeconomic environment, including low oil prices and a stronger dollar, will continue to impact Saudi Arabia’s real estate market in 2016, along with a slowdown in GDP and government spending, said an industry expert.

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Russia imposes 10pc cut on govt spending

Under pressure from the falling global oil price, Russia is requiring government departments to cut spending by 10 per cent, repeating a policy it also imposed in 2015, two government sources told Reuters. The cutbacks will exclud

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Govt to raise efficiency of public spending: Saudi king

Saudi Arabia will seek to diversify its sources of income and improve the efficiency of government spending as it strives to reduce its dependence on oil revenue, which has plunged since last year, King Salman said on Wednesday. &

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Low oil ‘hitting Mideast business confidence’

Business confidence in the Middle East is at its lowest ebb for more than five years due to the renewed fall in oil prices, according to a new global survey of accountants. Capital expenditure plans have understandably been pared

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Morocco subsidy spend to fall to $1.6bn in 2016

The Moroccan government plans to spend MD15.5 billion ($1.61 billion) on subsidies, down from 23 billion dirhams budgeted for this year, the 2016 draft national budget seen by Reuters showed. The North African kingdom expects subs

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Kuwait spending picks up despite oil price fall

Kuwait’s government spending in August stood at KD4.2 billion ($13.91 billion) fiscal-year-to-date (fytd), marking 22 per cent of the FY15/16 budget, slightly above the historic average of 14 per cent, a report said. The fig

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GCC firms under pressure amid low oil, govt cuts

Corporate and infrastructure companies in the GCC face a weaker operating environment on the back of lower oil prices, said a Standard & Poor’s report, adding that government expenditures, on which these companies largely depend, are s

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GCC firms under pressure amid low oil, govt cuts

Corporate and infrastructure companies in the GCC face a weaker operating environment on the back of lower oil prices, said a Standard & Poor’s report, adding that government expenditures, on which these companies largely depend, are s

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Bahrain construction sector to grow at 3.6pc

Real growth in Bahrain’s construction industry is on track to average 3.6 per cent up to 2018, buoyed by government investment in infrastructure and social housing, a report said. This is an improved outlook on a year ago, a

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