Iraq, pressured by lower-than-expected oil prices, will cut non-oil spending in its 2016 budget by 15 percent and take on several billion dollars in international debt, it said in a memo which the International Monetary Fund released on Thursday
Two projects worth $45 billion announced this month show the world’s largest oil companies are regaining the confidence to make big investments, emboldened by rising crude prices and low costs that promise to trigger more expansion ahead.
Worldwide spending on cancer medicines will exceed $150 billion by 2020, driven by the emergence of expensive new therapies that help the immune system to attack tumours, according to a global oncology report released by IMS Health Holdings on T
Saudi Arabian tourists are among the highest spenders while travelling, registering more than SR30 billion ($7.4 billion) annually, with 72 countries offering the kingdom's citizens the option to travel visa-free, said a report.
The pipeline of projects planned in the Gulf Cooperation Council (GCC) states as of May 2016 amounts to $2 trillion, it was revealed at a summit of construction sector leaders in Dubai, UAE.
Delegates attending the Meed Constructi
Domestic card spends in the UAE increased by 12 per cent in the first quarter of 2016 compared to the same period last year, according to a report on consumer card spends by Network International, a leading payment solutions provider in the Mena
Iraq is sticking to an aspiration to increase its oil output by up to a third by 2020 despite warnings from some companies working in Opec's second-largest producer that projects could be delayed due to spending cuts.
Oil discoveries in 2015 fell to their lowest since 1952 as energy companies slashed exploration budgets in the wake of the oil price fall, creating a gap for meeting future demand, analysts at Morgan Stanley said on Monday.
Germany's government expects to spend around 93.6 billion euros ($106 billion) by the end of 2020 on costs related to the refugee crisis, a magazine said on Saturday, citing a draft from the federal finance ministry for negotiations with the
Abu Dhabi National Energy Company (Taqa) has slashed its proposed capital expenditure for 2016 despite reporting on Thursday a narrower fourth-quarter loss, as the company is impacted by lower oil prices.
Global oil firms have bee