Oman to raise taxes and gas prices amid global oil slump
Oman is going to cut government spending and also raise taxes and gasoline prices to cover an anticipated budget shortfall in the coming year.
That's...
Saudi 2016 growth to slow as debt rises and reserves drop
Saudi economic growth is set to slow further in 2016 after the OPEC heavyweight announced record deficits due to the slump in oil prices,...
Saudi to stick with its long-term oil strategy
Saudi Arabia's planned cuts in spending and energy subsidies signal that the world's largest crude exporter is bracing for a prolonged period of low...
Saudi shares dive after deficit announcement
Saudi shares dived at the start of trading Tuesday a day after the oil-rich kingdom announced a record $98 billion deficit this year and...
Saudi Arabia to raise domestic petrol prices by 'up to 40%'
Saudi Arabia will raise domestic petrol prices by up to 40 per cent, AFP has reported, citing the kingdom's state press agency, SPA.
Initial reports...
Saudi plans spending cuts, reforms to shrink budget deficit
Saudi Arabia, its finances hit by low oil prices, announced plans to shrink a record state budget deficit with spending cuts, reforms to energy...
Saudi projects $87 billion deficit for 2016
Saudi Arabia has announced a projected budget deficit in 2016 of $87 billion (327 billion riyals), as lower oil prices cut into the government's...
Saudi posts record $98 billion deficit in 2015
OPEC kingpin Saudi Arabia posted a record $98 billion budget deficit in 2015 due to the sharp fall in oil prices, the finance ministry...
Saudi to unveil 2016 budget with huge shortfall
Saudi Arabia unveils its 2016 budget on Monday with the oil powerhouse expected to project a huge deficit following the collapse of crude prices.
The...
Oil prices edge higher
Oil prices edged higher Thursday after rallying the previous session on news of a drop in US crude supplies.
The main global contracts for the...
