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Economy and Policy

Economy and Policy latest

Hegseth during US Committee hearing
July 23rd, 2026 - 09:04 GMT
P. Choiaqo

P. Choiaqo

Hegseth asks Congress to increase defense budget to $1.5 trillion

ALBAWABA - Hegseth appeared before Congress yesterday to answer questions regarding the Iran war and the costs related to it; instead of answering, he bold-facedly requested Congress increase his department’s budget to $1.5 trillion. The Trump administration continues to push Congress for more funds to cover the heavy cost of the Iran war, Hegseth says it cost $37 billion so far and is asking for $70 billion more, while analysts ...
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Regional economies, including Saudi Arabia, have been hit hard by the drop in oil prices, boosting the need for reforms such as subsidy cuts and the introduction of a value-added tax (VAT). (File photo)
April 13th, 2017 - 01:03 GMT

A tax on the rich will eliminate the need for VAT in GCC: Expert

After registering a healthy surplus for 16 consecutive years, Kuwait posted its first budget shortfall of $15 billion in the 2015-2016 fiscal year, following a slump in oil prices. (AFP/File)
April 13th, 2017 - 12:04 GMT

Kuwait turns to reserves, international borrowing to reduce budget deficit

Egyptian protester holds bread along with a flyer in Arabic that reads 'Danger, no to loans that lead to poverty' during a rally in downtown Cairo on April 3, 2013. (AFP/Khaled Desouki)
April 13th, 2017 - 10:45 GMT

34 percent of Egyptians live in severe housing deprivation: Survey

An employee of the French car maker Renault group during the inauguration of a new production plant in Algeria on November 10, 2014. (AFP/File)
April 12th, 2017 - 02:46 GMT

Algeria signs energy, vocational training deals with France

Turkey's Deputy Prime Minister Mehmet Simsek wants Turks to vote 'Yes' for the sake of the economy. (AFP/Adem Altan)
April 12th, 2017 - 10:28 GMT

Turkey's economy will grow strong and steady if Turks vote 'Yes’: Deputy PM

Saudi Arabia's healthcare sector growth is expected to reach SR92.6bn ($24.7 billion) by 2020. (AFP/File)
April 12th, 2017 - 09:06 GMT

Strong growth ahead for Saudi Arabia's healthcare sector

Tunisia's public debt continued to rise to almost 61.9 percent of GDP at the end of 2016, compared to 53.4 percent ​​originally projected. (AFP/File)
April 12th, 2017 - 06:00 GMT

Tunisia's public debt, budget deficit hit alarming levels

RORO at Khalifa Port.
April 12th, 2017 - 05:08 GMT

MAQTA Gateway achieves complete digitalization of all imports & exports

Dubai has issued more than 170,000 commercial licenses over the last 25 years, a 650 percent increase over the 28,000 licenses issued in its first year in 1992. (AFP/ Sahib Karim)
April 12th, 2017 - 04:00 GMT

Dubai sees 650 percent rise in business licenses since 1992

Egypt's Consumer Price Index (CPI) eased to 2.1 percent in March, compared to 2.7 percent in February and 4.3 percent in January. (File photo)
April 11th, 2017 - 04:57 GMT

Egypt's inflation surge begins to slow

The MoU was signed by Saudi Arabia, the UAE, Bahrain, Algeria, Sudan, Iraq, Oman, Qatar, Comoros, Kuwait, Egypt, Libya, Morocco and Yemen. (Shutterstock)
April 11th, 2017 - 04:18 GMT

14 Arab countries sign MoU to establish a joint electricity market

India has signed several big-ticket defense deals since Modi’s Bharatiya Janata Party stormed to power in 2014. (AFP/File)
April 11th, 2017 - 03:25 GMT

Israel signs $2B arms deal with India, its biggest ever

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