Monday 29 December 2014
 
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Oman considers 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.  

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Egypt spent $3bn on fuel subsidies in the first quarter

Egypt spent 22 billion Egyptian pounds($3.08 billion) on fuel subsidies in the first quarter of fiscal year 2014-2015, down 29 per cent from the same quarter a year ago, an oil ministry official said.   As part o

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Kuwait looking at reforming petrol subsidies

Kuwait's government is looking at adjusting its petrol subsidies in order to reduce waste, a senior Kuwaiti official said on Monday in a fresh sign that authorities are using this year's oil price plunge to push economic reforms.

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Abu Dhabi mulls power, water subsidies reform: IMF official

The government of the emirate of Abu Dhabi is looking at ways to reform its system of subsidies for electricity and water, a senior International Monetary Fund official told Reuters on Wednesday, in what would be a landmark move by the emirate.

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Abu Dhabi mulls power, water subsidies reform: IMF official

The government of the emirate of Abu Dhabi is looking at ways to reform its system of subsidies for electricity and water, a senior International Monetary Fund official told Reuters on Wednesday, in what would be a landmark move by the emirate.

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Oman likely to start cutting subsidies next year

Oman's government is likely to start cutting some state subsidies next year as the decline in global oil prices pressures its finances, Minister for Financial Affairs Darwish Al Balushi said.   The country

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Oman may start cutting subsidies from next year

Oman's government is likely to start cutting some state subsidies next year as the decline in global oil prices pressures its finances, Minister for Financial Affairs Darwish al-Balushi said on Saturday. The country's orig

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Oman may start cutting subsidies from next year

Oman's government is likely to start cutting some state subsidies next year as the decline in global oil prices pressures its finances, Minister for Financial Affairs Darwish al-Balushi said on Saturday. The country's orig

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Kuwait starting to cut subsidies: IMF

Kuwait's government has started reducing some state subsidy payments and is an advanced stage of preparing a plan to cut subsidies for kerosene and electricity, the International Monetary Fund said.  

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Saudis cushion labour reform with new hours, subsidy

Saudi Arabia is changing tack in its labour reforms, softening the blow to companies with money for subsidies and training while trying to lure its nationals to the private sector with more attractive working conditions. A draft l

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