Friday 25 April 2014
 
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subsidy

Gasoline prices surge up to 75pc in Iran

Gasoline prices in Iran leapt by up to 75 percent at midnight on Thursday, as state subsidies were cut, a risky move that President Hassan Rouhani hopes will improve an economy battered by Western sanctions. The price hikes will t

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Kuwait cbank warns against rising govt spending

Kuwait's rising public spending and dependence on oil revenues are preventing sustainable economic development, the country's central bank governor said, echoing warnings from the International Monetary Fund. Mohammad al-H

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Libya plans 'smart cards' to cut fuel subsidies

Libya plans to limit the costly subsidies its citizens enjoy when buying motor fuel - much of which is smuggled into Tunisia for resale at higher prices - by introducing a "smart card" system like one newly implemented in neighbouring

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Bahrain reviews red meat subsidy system

Bahraini authorities are reviewing the country's meat subsidy system.   However, until a new system is in place the Bahrain Livestock Company (BLS) will continue to supply government-subsidised meat to local

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Egypt food subsidy bill to total $4.3bn this year

Egypt's food subsidy bill will be 30 billion Egyptian pounds ($4.31 billion) this year, an amount that is expected to remain stable in the next fiscal year that begins in July, the new supplies minister said, pledging to tackle a smuggling &

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Kuwait faces hard sell as it eyes cut in subsidies

Kuwait's policymakers face the uphill challenge of convincing citizens that despite hefty oil revenues, one of the world's richest countries per capita needs to reduce spending to avoid a potential damaging budget deficit later this deca

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Expats in Bahrain face bigger utility bills

Expatriates living in Bahrain could start paying unsubsidised electricity and water bills if negotiations between legislators and the government pan out, a report said. Businesses could also face a similar hike in prices, but auth

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Jordan must stick with IMF reforms: Cbank

Jordan must persist with economic reforms to ensure its economy keeps growing and its budget deficit is under control, the central bank governor said, warning against slackening as financial pressures ease and political pressures mount.

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Renewable energy share can double by 2030

Energy efficiency and improved energy access can advance the share of renewables in the global energy mix up to 36 per cent by 2030, according to the new report from International Renewable Energy Agency (Irena). The report, "

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Egypt aims for wheat 'self-sufficiency'

Egypt, the world's biggest wheat importer, can achieve self-sufficiency in wheat for its bread subsidy programme by 2019 if silo storage capacity is raised by 1 million tonnes annually, the agriculture minister said. Though se

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