Saturday’s strikes on Aramco facilities slashed Saudi Arabia’s crude output by half
Commercial operations at the plant in Taweelah are expected to begin in Q4 2022
The IMF also reiterated that diversifying the economy is needed to create more jobs for Saudi citizens
Latest InterNations Expat Insider Survey of 64 different countries also ranks Kuwait last
More than three-quarters of respondents expect to keep their jobs, however
Sheikh Mohammed’s letter addressed issues pertaining to the economy and Emiratisation
The budget deficit is down 53 per cent on an annual basis
The debt sale was split into three tranches
Emirates leads the way in the UAE for the third year in a row
The holiday is expected to fall on September 1, though it is subject to the moon sighting
Women were granted 12 per cent of the new licences
Saad al-Hariri said talks were under way with Riyadh on some 23 economic deals
The Dubai businessman also said reconsidering some of the fees will have a “positive impact on the economy”
The kingdom said it is “well ahead of its projected deficit reduction schedule”
The decline in CPI has partly reflected the fading impact of last year’s introduction of a value-added tax
Its Q2 net profit was also up 2.2 per cent to Dhs750m compared to the similar period in 2018
State revenue was KD20.5bn in the year to March 31, 2019, compared to the KD15bn that had been projected
The government collected $39.83bn in taxes in the 2018/2019 fiscal year
The sale is one of the first privatisations the kingdom is planning
While not at risk of a credit crunch, Oman has been downgraded to junk by all major credit rating agencies
The emirate’s GDP totalled Dhs207bn ($56.4m) in the first quarter
The Saudi economy, the largest in the Middle East, has suffered in recent years because of low oil prices and austerity measures
The law introduces flexibility in the price of contracts and compensations in the case of increases in raw material prices, custom duties and taxes
The new decision is hoped to help create thousands of jobs and stimulate the kingdom’s economy
Oil sector grew at 1.3 per cent in the first quarter and non-oil sector expanded at 4.1 per cent
The ministry has also reduced the fees for some services as part of efforts to boost business activity in the country
The move is aimed at supporting business owners and investors in the country
Staffing fell in tourism and recreation as well as construction, but rose in wholesale and retail
Oman’s state coffers have been hit hard by a slump in oil prices over the past few years
The 10-day event was held in March, with 200 nations, 7,000 athletes and 20,000 registered volunteers taking part