Tuesday 16 September 2014
 
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Spending

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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UAE likely to cut fiscal spending: IMF

The UAE is likely to cut its fiscal spending further in 2014 as the oil and real estate-powered economy is growing strongly and private credit growth is recovering, the IMF said. "The combined federal and emirate budgets impl

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Saudi world's 4th biggest defence spender

Saudi Arabia has emerged as the world’s fourth largest spender on national defence with the kingdom increasing its annual defence expenditure by $16 billion over the last five years, said a report. Saudi’s increasing d

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Chinese military spending tops $145bn

China's military spending exceeded $145 billion last year as it advanced a program modernising an arsenal of drones, warships, jets, missiles and cyber weapons, the Pentagon said on Thursday, offering a far higher figure than Beijing's o

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Bahrain reins in spending; deficit below projection

Bahrain's state budget deficit nearly doubled to BD410 million ($1.1 billion) in 2013 but was only a fraction of the original projection as spending rose at its slowest rate since 2009, finance ministry data showed on Monday.

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Kuwait may face budget deficit, warns minister

Kuwait's finance minister has warned that the country will face a certain budget deficit because growth in spending has outpaced a rise in public revenues. "A budget deficit is inevitable... as the average annual growth i

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Tamkeen nets $50m revenues from LMRA fees

Bahrain's labour fund Tamkeen has generated BD19.1 million ($50.3 million) revenues from Labour Market Regulatory Authority (LMRA) fees, said a report. Tamkeen board of directors held its second regular meeting for this year a

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