Friday 11 July 2014
 
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subsidy

Fuel subsidy proposal may bolster Gulf Air

Gulf Air wants the government to subsidise 30 per cent of its fuel costs, to enable it to achieve an operating profit for the first time in years.   The proposal has already been tabled with the Cabinet, Gulf Air

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Libyan currency under pressure

Libya's currency is under heavy pressure as a breakdown in security and a collapse of oil revenues due to port blockades have badly disrupted public finances and an economy already burdened by exploding state salary and subsidy bills.

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Record $4bn subsidy for Bahrain in 2013

The Bahrain government had allocated BD1.535 billion ($4.05 billion) last year for subsidies and support schemes, Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa has told MPs in writing. Subsidies included BD67 million for f

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Egypt business pushes Sisi for energy subsidy cuts

Former army chief Abdel Fattah Al-Sisi has kept Egyptians guessing about how he will handle energy subsidies, one of the most explosive issues coming his way if, as seems certain, he is elected president next week. Cautious campai

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Etihad denies receiving any govt subsidy

Etihad Airways said today that it had received financial support from its shareholder in the form of equity capital and shareholder loans, but gets no government subsidy. The airline was reacting to reports in the Australian Finan

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Tunisia to trim fuel, sugar, bread subsidies

Tunisia will raise subsidised petrol prices by 6.3 percent in the coming days and also decrease subsidies for bread, sugar and other basic materials to trim its worsening budget deficit, the government said. Subsidies are a sensit

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Money to burn: Wasteful energy subsidies

Fossil fuel subsidies cost governments in emerging markets more than $500 billion every year and are a major contributor to climate change, according to the International Energy Agency (IEA) and International Monetary Fund (IMF).

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Phase out subsidies, IMF chief tells Arabs

IMF chief Christine Lagarde urged Arab countries going through democratic change to phase out costly subsidy systems on Monday, but drew a cautious response from regional finance ministers wary of the social impact of such steps.

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Egypt to get more than $3bn in free fuel from Saudi

Saudi fuel donations to Egypt from last month through August will be worth more than $3 billion, a top Egyptian energy official said, as part of a financial lifeline from the Gulf helping to ease the country's energy crisis. T

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Egypt smart-card system cuts wheat consumption

Egypt's supplies minister said on Saturday a smart-card system for bread distribution rolled out in one Egyptian city had reduced wheat consumption by 30 percent, easing the strain of subsidies on the government's budget and foreign rese

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