GCC | Egypt Oil & Gas - Part 3
GCC Braces for Refinery Expansion, Financial Opportunities
The Arab Petroleum Investments Corporation’s (Apicorp) Energy Research has just issued its monthly report, calling for a serious rethinking of the GCC state’s downstream sector, reported Trade Arabia. “We antici...
Bahrain Subsidies Hit by Oil Prices
Bahrain more than doubled the prices of beef and chicken, removing meat subsidies to save money as low oil prices squeeze government’s revenues, reported Reuters. Only Bahraini citizens will be compensated with ...
Mixed Blessings Face Gulf Economy with Oil-Dollar Tradeoffs
The strength of the US dollar against Asian currencies is leading to a surge in remittances from migrant workers in the Gulf Arab region, said Gulf News. Most Gulf currencies are pegged to the dollar, encouraging expa...
Saudis Reassured by Obama Over Post-Sanction Iran
A senior Saudi official announced on Friday that Saudi Arabia is satisfied with assurances from US President Barack Obama about the Iran nuclear deal and believes the agreement will contribute to security and stabilit... GCC Still Behind Energy Efficiency Benchmarks, Report Warns
According to Trade Arabia The Economic Insight: Middle East Q3 2015 report, published by the Centre for Economics and Business Research (CEBR), called for more large-scale alternative and renewable energy projects in ...
Kazakh Currency Drops 22% from Oil Price
The national currency of Kazakhstan, the Tenge, lost nearly a quarter of its public value on Thursday, reported the New York Times. The devaluation came after the central bank of Kazakhstan announced it would cease ma...
GCC VAT Moves Delayed but UAE Forging Ahead
“An immediate announcement will be made once a final agreement on imposing a VAT law is reached,” said the UAE’s Finance Ministry in a statement quoted in The National. The draft VAT originally agreed to by the ...
GCC States Keen on Wage and Financial Reforms in Low Price Era
According to Trade Arabia Kuwait is embarking on public sector wage reforms, with a bill awaiting National Assembly approval. This would restructure job classifications, standardize pay across the public sector and in...
