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Egypt To List Military-Owned Companies for Sale In Renewed Privatization Drive
...power in 2014. And just last week, the military-owned Mostakbal Misr Agency for Sustainable Development took over Egypt’s import of strategic commodities, according to a letter seen by Reuters. The agency replaces the state-owned General Authority for Supply Commodities (GASC), which has fo...
Volume: 67Issue: 50Published at Fri, 13 Dec 2024 -
Saudi Budgets For 2022 Surplus: First In Nine Years
...ices began to tumble in the second half of 2014 (see chart 1). Since then, the kingdom has notched up eight consecutive deficits for a cumulative $460bn, if the kingdom’s initial estimates for this year are accurate. For 2021, the government’s latest expectations are that it will accrue a $22.7bn de...
Volume: 64Issue: 50Published at Fri, 17 Dec 2021 -
Qatar: New 2.5GW Plant Powers Economic Growth
...erage electricity demand growth of around 10% a year during 2014-16, according to Kahramaa data. With thousands of visitors set to descend on Qatar for the 2022 World Cup, this could mean new peak demand records. With that in mind, Qatar still has major power projects due online in the near te...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Saudi Powers Ahead With Reform Plans
...oks set to hit many Saudi households hard in the pocket and could be sufficient to make many think more carefully about electricity use. According to UK consultant Enerdata, Saudi household electricity consumption averaged 24,030kWh (2,002kWh/month) in 2014. This is roughly double US consumption, wh...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
Iraq Budgets For Higher Revenue In 2017 As Oil Prices Rise
...vernment salaries. But this is contingent on the resuscitation of a December 2014 agreement, under which the KRG is supposed to provide state oil marketer Somo with 300,000 b/d from the KRG-controlled Kirkuk fields and 250,000 b/d from fields in the ‘KRG proper’, or the creation of a new agreement. Neither ap...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
Gulf Finance: Rise Of The Renminbi
...counted for 74% of direct payments to China and Hong Kong by value, an increase of 52% compared to 2014, according to data provided by international transactions network Swift. Meanwhile, in Qatar, the RMB was used for 60% of all payments, a huge rise of 247% compared to 2014. In absolute terms, the US...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
Kuwait Mulls Subsidy Reforms As Oil Price Collapse Hurts
...ll require legal changes, would be tackled at a later date. Subsidies cost Kuwait about KD3.7bn ($12.2bn), or 7.6% of GDP in 2014, of which petroleum product subsidies account for 35% (see table). Kuwaiti pre-tax gasoline and diesel prices are respectively 66% and 41% below US prices. They are al...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
GCC Ratings Under Pressure From Oil Price Slide
...s fiscal breakeven price will top $127/B next year, according to the IMF. Earlier this year, as oil prices inched higher towards their June peak of more than $110/B, Moody’s projected solid growth in the GCC region for 2014. The ratings agency said in a 4 March report that it expected GCC growth to...
Volume: 57Issue: 50Published at Fri, 12 Dec 2014 -
Iran Cuts Spending Again For 2015-16, But Is It Enough?
...IRAN Iran Cuts Spending Again For 2015-16, But Is It Enough? Iran’s freshly-released draft 2015-16 budget cuts spending by 14% in real terms in the face of oil prices that are down by $48/B since June. This comes on top of a 20% cut for 2014-15. The latest budget is based on $72/B cr...
Volume: 57Issue: 50Published at Fri, 12 Dec 2014 -
Iran Slashes Budget; $100/B Crude, 1.1Mn b/d Exports
...IRAN Iran Slashes Budget; $100/B Crude, 1.1Mn b/d Exports Iranian President Hassan Rohani’s new administration will focus on tackling the twin problems of soaring inflation and unemployment in the year starting 21 March 2014. Outlining details of the 2014-15 budget, the fi...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
IMF: Kuwait Growth Slumps
...se of 3% in 2013. The forecast for overall average consumer price inflation is 3% in 2013. Fiscal and external surpluses are projected at 27% and 39% of GDP respectively in 2013, reflecting high oil prices, the IMF says. Looking ahead the IMF expects an improvement in the economic outlook in 2014 an...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
Iran’s NDF Holds $43Bn In Reserves
...978bn in March 2013 and $1.713bn in March 2014. At the end of the first half of 1390, Iran had a trade balance surplus of $36.409bn and the value of its oil and gas exports stood at $63.849bn, the CBI said. ...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012