Kuwait’s budgetary surplus for the year 2012-2013 amounted to 25 per cent of its GDP. It is high time that the country used its sizable surpluses to address development priorities.
Public spending increased by nearly 40 per cent to RO1,520mn in the first two months of 2013, from nearly RO1,086mn in the same period of 2012.
Oman Cables Industry has introduced efficient water and electricity management systems at its factory and office premises, aimed at reducing its water and electricity consumption by 15 per cent and 5 per cent respectively
Petroleum Development Oman (PDO) has budgeted an investment of $11bn in the next 10 years towards 16 new significant projects to develop over a billion barrels of oil.
As long as there is no military conflict in the Gulf, Brent is overpriced at $115 and has potential downside to $105-108.
The six-nation Gulf Cooperation Council is the undisputed global leader in energy resources, a fact that should provide comfort to many stakeholders.