July 13, 2014
A new IMF paper shows how subsidy reform has recently gained momentum in the Middle East and North Africa and outlines the elements of successful subsidy reform.
But reducing subsidies is hard in a country where a third of the population of 25 million lives on less than $2 a day, and this week’s austerity package did not address subsidies.
Finance and Economic Affairs Minister Ali Tayyebnia says Iran will no longer promote an oil-based economy even if the economic sanctions which have been imposed against the country are totally lifted.
An oil ministry spokesman in Baghdad described the takeover as dangerous and irresponsible and called for the Kurdish forces to withdraw immediately.
Dues owed to foreign oil companies reached a total of $6.3bn this July, compared to $6bn at the end of April.
July 11, 2014
Breakthrough in the long-running crisis over public workers’ salaries is expected next week, a ministerial source revealed to The Daily Star Thursday.
Rising housing costs has pushed Dubai up the rankings in an annual survey of the most expensive cities in the world for expatriates to live in.
Egypt purchased 3.7 million tonnes of local wheat and also bought 5.46 million tonnes of wheat from abroad during the 2013-2014.
Boeing’s annual forecast, released in conjunction with the airshow, said single-aisle airplanes such as the 737 and A320 will garner the most orders.
July 10, 2014
Security officers in Saudi Arabia have arrested nearly 2,200 foreign workers in Madinah and Hail and Baha this month for allegedly violating the country’s residency and labor regulations.
Brent crude oil traded at a one-month low below $109 a barrel on Wednesday after a Libyan oilfield restarted and supply worries faded
Dubai’s Damac Properties has announced that it will be offering luxury cars to select property buyers as part of its Ramadan promotion.
Djibouti said it had started legal action against DP World, seeking to rescind the Dubai-owned port operator’s concession in Africa’s largest container terminal in a row over how the contract was awarded.
July 9, 2014
Boeing said the 777X will introduce the latest technologies including "the most advanced commercial engine ever".
The recruitment application of any Saudi who has a history of maltreating Filipino housemaids would never be accepted.