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
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.
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
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
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
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
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
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.
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
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