Thursday 25 December 2014
 
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Spending

Saudi plans to raise spending in 2015 budget, run deficit

Saudi Arabia plans to raise government spending by 0.6 per cent to a record high next year while covering a large budget deficit due to plunging oil prices with its huge fiscal reserves, the Ministry of Finance said on Thursday. S

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ICT spending to rise 4.6pc to 36bn next year

The spending on ICT products and services in Saudi Arabia is set to increase 4.6 per cent year-on-year next year to a total $36.95 billion, according to International Data Corporation's newly released predictions. The IT servi

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ICT spending to rise 4.6pc to 36bn next year

The spending on ICT products and services in Saudi Arabia is set to increase 4.6 per cent year-on-year next year to a total $36.95 billion, according to International Data Corporation's newly released predictions. The IT servi

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Major Saudi projects 'not at risk' despite budget cuts

Major infrastructure projects in Saudi Arabia, such as the $22.5-billion plan to build a metro rail system in Riyadh, should not be at risk despite expected budget cuts due to the plunging oil prices, said analysts. The spending cuts ar

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Saudi set for tighter 2015 budget

Plunging oil prices could mean the first budget cuts for major exporter Saudi Arabia since 2002 but they are not expected to be large enough to stop growth in the Arab world's biggest economy. The government gets about 90 per

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Saudi set for tighter 2015 budget

Plunging oil prices could mean the first budget cuts for major exporter Saudi Arabia since 2002 but they are not expected to be large enough to stop growth in the Arab world's biggest economy. The government gets about 90 per

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Chinese globetrotters splash out $129bn overseas

More than 98 million Chinese tourists travelled abroad last year, an 18 per cent increase from the previous year, spending a whopping $128.7 billion overseas, up 26.8 per cent on the year before. More than half of China's outb

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Big spending spurs British economy

Big-spending Britons powered the economy in August as they became more confident about the recovery and their finances, though mixed house price data suggested the outlook for the property market was less clear-cut. Consumer confi

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IMF to loan $560m to Yemen

Yemen has reached agreement with the International Monetary Fund on a $560 million loan, the finance minister said on Friday, after the government cut fuel subsidies and ordered curbs on public spending. The second poorest Arab country

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Middle East set for big infrastructure spend

The Middle East capital projects and infrastructure industry is seeing renewed optimism, with 75 per cent of respondents expecting an increase in spending in the coming 12 months, according to a survey. This is largely driven by m

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