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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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Omar Bushahab, CEO of Business Registration & Licensing (BRL) sector in DED
June 12th, 2016 - 05:38 GMT

DED adds 8 new business activities under commercial licenses to meet market needs

The United States sold $20 billion in arms to Saudi Arabia in 2015 alone, according to Human Rights Watch. (Wikimedia Commons)
June 12th, 2016 - 05:00 GMT

US lawmakers seek bill to halt arms sales to Saudi over Yemen campaign

Although the introduction of a GCC-wide value added tax (VAT), and other fees, charges, and excises have been announced, most GCC countries have not yet increased non-oil revenues in a meaningful way. (AFP/File)
June 9th, 2016 - 11:00 GMT

Fiscal efforts to bridge GCC budget deficits still falling short: IMF

Goals to reduce government spending on wages by 5 per cent (by SAR24 billion) will likely largely be achieved by not replacing the people leaving the public sector workforce and benefit cuts. (File photo)
June 9th, 2016 - 07:00 GMT

Saudi's bold reform targets require further formulation, economists warn

Among MENA's greatest risks are a further slide in oil prices, escalation of conflict, and further negative effects of security challenges and social unrest in countries not entrenched in war. (File photo)
June 9th, 2016 - 05:00 GMT

Slow growth ahead: World Bank downgrades global forecast to 2.4 percent

The plan also aims to improve the quality of services provided by the government and achieve a prosperous and sustainable future. (File photo)
June 8th, 2016 - 07:00 GMT

Saudi's National Transformation plan: First details revealed

Deputy Crown Prince Muhammed Bin Salman is also the president of CEDA, a new super-committee of top ministers charged with overseeing reforms. (File photo)
June 7th, 2016 - 01:00 GMT

Saudi Arabia approves National Transformation Plan

CFA professionals see VAT as a paradigm-shifting reform in the GCC's fiscal policy and are unanimous that it will lead to higher inflation. (File photo)
June 7th, 2016 - 11:00 GMT

VAT will hit demand for luxury items, cars, tobacco, real estate hardest: Survey

During the event
June 7th, 2016 - 06:19 GMT

DP World wins concession agreement for greenfield port in Ecuador

All fines collected will be allocated to support efforts to raise awareness on the harmful effects of smoking and tobacco products across the Kingdom. (Shutterstock)
June 7th, 2016 - 06:00 GMT

Butt out: Saudi Arabia to impose fines for smoking in public areas

During the event
June 6th, 2016 - 07:43 GMT

DP World group chairman and CEO meets president of Argentina

The French economist's bestseller 'Capital in the Twenty First Century' was awarded the Financial Times and Mckinsey’s 2014 Business Book of the Year Award. (EcoPolitica.org)
June 5th, 2016 - 08:00 GMT

Lack of transparency about income and wealth in MENA allows for bad policies: PIketty

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