Economy & Finance

The Middle East’s largest economies have long sought to reduce their dangerous dependency on oil revenues, with Saudi Arabia’s high-profile Vision 2030 just the latest in a long list of such strategies. Even the region’s smaller economies have fallen into the trap of heavily subsidizing fuels and electricity, and are increasingly struggling with the financial impact.

Economics & Finance

27 Jun, 2025

Featured

Oman Approves Income Tax

In a first for the GCC, Oman has passed legislation to levy income tax from 2028. Although relatively few will pay the tax, it is highly symbolic.
Oman’s State Revenues Have Followed The Swings In Oil Prices Over The Years ($bn)
Economics & Finance

27 Jun, 2025

Top Story

Trump’s Liberation Day Tariffs Hit Saudi Revenues

The extent of the economic hit Saudi Arabia took from Trump’s Liberation Day tariff announcement is becoming clear, with April oil exports down $1.3bn.
Saudi Arabia’s Monthly Oil Export Revenues ($bn) Dropped To A Four-Year Low In April As ‘Liberation Day’ Tariffs Hit Oil Prices
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NEWS IN BRIEF

Israel’s Bazan Refinery Partially Restarts

4 Jul, 2025

Work Starts At Oman’s First Green H2 Site

4 Jul, 2025

Shell Appoints New Oman Head

4 Jul, 2025

Iran Suspends IAEA Cooperation

4 Jul, 2025

Adnoc Targets 1.5Mn B/D at Upper Zakum

4 Jul, 2025

Acwa Power Shareholders Approve Rights Issue Pricing

4 Jul, 2025

Kuwait Increases Refining Capacity at Mina Abdullah

4 Jul, 2025

Kuwait Firms Up Offshore Exploration Plans

4 Jul, 2025

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SELECTED DATA

Egypt’s Suez Canal: Revenue & Tonnage Fall Again To New Record Lows* For Q3 2024

Oman Budgets A Cautious $1.6bn Deficit For 2025 As Surpluses Narrow From 2022 Record

Qatar’s 2025 Budget Envisages The First Deficit Since 2020 And The Largest Since 2017 ($bn)

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