Saturday 30 August 2014
 
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Budget

India taxation move 'to attract GCC investment'

Non-Resident Indians (NRIs) in Bahrain foresee an influx of GCC investment in India in the coming years, with the debut budget of the new Indian government clarifying its stance on retrospective taxation.   Prime

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Modi to target record asset sales in first budget

India's new government will seek to raise up to a record $11.7 billion in asset sales in its maiden budget this week, a senior government source said, bolstering state finances and buying time for structural reforms to revive a weak economy.

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Oman budget surplus hits $1.5bn in Jan-May

Oman's government budget surplus reached 582.9 million rials ($1.5 billion) in January-May compared with a deficit of 110.4 million rials a year ago, provisional government data showed.      Analysts polled by Re

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Egypt eyes 5.8pc economic growth

Egypt is targeting economic growth of between four and 5.8 per cent within the next three years while holding the budget deficit at 10 per cent of economic output, Finance Minister Hany Kadry Dimian told Reuters

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Libya approves overdue budget as oil port reopens

Libya's parliament has approved the overdue 2014 budget worth $47 billion, drawing on reserves to offset a dramatic loss of oil revenue after almost a year of protests at major ports. The North African country is in turmoil as

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Iraqi Kurds plan to continue oil exports

Iraqi Kurdistan's natural resources minister said on Tuesday (June 17) the region plans to continue oil exports and will be able to meet its allocated budget through independent oil shipments by the year-end.  

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Libya cabinet starts spending $50bn budget

Libya's government, suffering from dwindling oil revenues, will allow its ministries to begin spending the $50 billion budget it submitted to parliament at the start of the year even though lawmakers have not voted on it. The

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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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Saudi to launch debut sovereign wealth fund

Saudi Arabia is preparing to launch its first sovereign wealth fund to manage budget surpluses from a rise in crude prices estimated at hundreds of billions of dollars, said a media report. The central bank has managed investment

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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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