Friday 24 June 2016
 
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spending cuts

Iraq oil projects face delays as companies resist spending cuts

International oil firms have warned Iraq that projects to increase its crude output will be delayed if the government insists on drastic spending cuts this year, a senior Iraqi oil official said on Friday. Oil companies helping Ir

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Saudi eyes spending cuts, new revenue sources

Saudi Arabia's government is expected to announce spending cuts and a drive to raise revenue from new sources as it lays out a strategy to cope with an era of cheap oil, people familiar with Saudi policy-making said. Markets i

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Bahrain approves 30pc spending cuts

Bahrain has approved short and medium-term measures to reduce government expenditures by 30 per cent and improve efficiency, a report said. His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Comman

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Bahrain plans new spending cuts

Bahrain’s government is gearing up to make additional spending cuts, with a new cap on borrowing approved by MPs referred to His Majesty King Hamad for ratification. It follows parliament’s belated approval of a law fi

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Oman mulls spending cuts, tax rises as oil tumbles

An advisory body to Oman's government has suggested sweeping spending cuts and tax rises, including a levy on liquefied natural gas exports, to cope with the hit to state revenues from the plunge in oil prices. Oman has run a

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The age of austerity is ending

      Whisper it softly, but the age of government austerity is ending.    It may seem an odd week to say this, what with the US government preparing for ind

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China warns US debt idea is 'playing with fire'

US Republican lawmakers are "playing with fire" by contemplating even a brief debt default as a means to force deeper government spending cuts, an adviser to China's central bank said on Wednesday. The idea of a technical default -- essent

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