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Kuwait budget surplus at $21bn in April-JuneKuwait's government budget surplus totalled KD6.07 billion ($20.86 billion) in the first three months of this fiscal year as expenditure lagged far behind the initial plan, preliminary finance ministry figures showed on Wednesday. More… |
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UAE current account surplus quadruplesThe United Arab Emirates' current account surplus quadrupled to 112.7 billion dirhams ($30.7 billion) in 2011 as both crude and non-oil exports soared, the central bank's annual report showed on Thursday. The surplus surged to 8.5 percent More… |
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Saudi nominal GDP hits $576 billion in 2011Saudi Arabia's nominal gross domestic product (GDP) reached SR2,163 billion ($576.8 billion) in 2011, up 28 percent from 2010, data from the Central Department of Statistics and Information showed on Wednesday. The figur More… |
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Oil income will cover spending says SaudiSaudi Arabian Finance Minister Ibrahim Al-Assaf said increased oil-driven revenues will cover the higher spending ordered by King Abdullah earlier this year, the website of Al-Eqtisadiah newspaper reported on Sunday. Saudi Arabia, earlier More… |
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GCC oil income may hit $4.7trnAt the Opec targeted floor price of $50 per barrel, GCC states will cumulatively earn $4.7 trillion by 2020, said a report by Ernst & Young. This will be 2.5 times their oil earnings over the last 14 years, according to E&Y's Globa More… |
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Oil windfall: $14bn surplus for KuwaitHigher revenue from oil helped Kuwait post a 3.8 billion dinars ($14.22 billion) preliminary surplus in the first quarter of its 2008/09 fiscal year, government data showed. The government income of the world's seventh-largest oil exporter More… |
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Iran sees record $63bn oil incomeIran expects to earn a record $63 billion from oil sales in the Iranian year that ends in March and about the same next year if prices stay high. Iran, the world's fourth-largest crude producer, has made windfall gains from the high oil pr More… |
Iran gets over 70pc oil income in non-US currenciesIran has boosted the income it gets from crude oil sales in non-US dollar currencies to more than 70 percent, an oil official said. A switch in payment by Nippon Oil and other Japanese refiners to yen has helped the Islamic Republic toward More… |
