Latest news with #NationalEconomy
L'Orient-Le Jour
07-05-2025
- Politics
- L'Orient-Le Jour
Israel plans take over of Gaza, US claims Houthis 'surrender' after airport bombing: Everything you need to know this Wednesday
Want to get the Morning Brief by email? Click here to sign up on yesterday's live May 7, by Abbas Mahfouz. Some key things to watch today:Updates on India-Pakistan conflict, following overnight surge of violence between the two nuclear-power nations.9:30 a.m. - 12 p.m. Parliamentary sessions including by the National Economy, Industry, Trade and Planning Committee, National Education, Higher Education and Culture Committee, Foreign Affairs and Expatriates Committee, the Finance and Budget Committee and the fact-finding committee of Public Works, Transport, Energy and Water.10 a.m. Telecommunications Minister Charles Hajj toured a number of Alfa, Touch and Ogero transmission stations in southern Lebanon that were damaged by the Israeli aggression.11 a.m. Press conference by the...
Yahoo
26-03-2025
- Business
- Yahoo
2024 was a great year for the economy in Rapid City
Rapid City, S.D. (KELO) — Thanks to local attractions and kids sports, more people are spending time in South Dakota's second largest city. Last year Rapid City welcomed 100,000 more visitors. Spending was also up $25 Million from 2023. 'So one of the neat things about the Black Hills is that it is multi-generational. So grandpa and grandma came as kids, then they brought their kids, now they're bringing their grandkids and the Black Hills has always been that. The other neat thing and this really does kind of isolate us from what's going on in the National Economy is that we are a pretty significant drive market .' Visit Rapid City President Brook Kaufman Said This continued growth in tourism has been helped by the growth of youth sporting events in the area. 'It's all just part of the puzzle of overall tourism. Sports is a big contributor, but so are meetings and conventions. Sports we do really well because it's the time of year when we don't have traditional tourism.' Executive Director Domico Rodriguez Over the past month, Rapid City hosted 3 successful state tournaments. 'There's a youth tournament almost every weekend in the area of some sport in the winter. And trying to capitalize on that and grow those events, will only help the bottom line for all of our attractions, hotels and restaurants.' Rodriguez Said 'Our sporting tournaments last year and we're going to see that again in 25, we have a very robust leisure visitor. We kind of transition, we see families in the summer and then we transition to older couples that are here that are maybe retired and they have a little bit more time. What I can tell you is that constantly what we hear is I wish I would've stayed longer.' Kaufman Said These numbers also show that the tourism economy generated over $113 Million in government revenue, saving each household close to $2,000 in taxes. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Zawya
24-03-2025
- Business
- Zawya
Bahrain: Eight-point deal on budget agreed
Bahrain - Eight fundamental principles, mainly keeping VAT as it is and increasing 'sin tax', have been reached between the government and legislators. The consensus was reached at an urgent extraordinary high-profile meeting yesterday between ministers headed by Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa, MPs headed by National Assembly and Parliament Speaker Ahmed Al Musallam and Shura Council members headed by Chairman Ali Saleh Al Saleh. Shaikh Salman expressed his sincere appreciation to members of the legislative authority for their constructive co-operation and continuous efforts to serve national interests. He affirmed that the meetings between the two authorities have been productive, demonstrating mutual seriousness and responsibility in achieving the intended goals. The agreed points that would form the foundation of the new 2025-2026 national state budget: 1. No increase in VAT: To maintain economic stability and shield citizens from additional financial burdens, the government confirmed that the Value-Added Tax (VAT) rate will remain unchanged. 2. Enhancing pensioners' living standards: Recognising the importance of financial security for retirees, the budget will retain the cost-of-living allowance for pensioners introduced in the 2023-2024 budget, with an additional increase in the 2025-2026 cycle. 3. Investing in key public services: A substantial allocation has been made to improve public services, including housing, education, infrastructure, and healthcare: Housing projects: A record-breaking BD800 million will be dedicated to housing projects to ensure immediate access to housing services and reduce waiting lists. This includes private sector partnerships to expedite development. Education: A focus on hiring qualified Bahraini educators, updating curricula and expanding educational services. Infrastructure: Construction of new schools in expanding residential areas, restoration of historic schools, and enhancements to roads and sewage networks. Healthcare: An investment of BD688m to enhance medical services and facilities. Job creation and economic empowerment: Employment remains a top priority, with initiatives designed to create opportunities for Bahrainis. This will include creating 25,000 job opportunities per year, new programmes targeting the employment of 8,000 fresh graduates annually and support through the Labour Fund (Tamkeen) for 50,000 Bahrainis per year in training and financing programmes. 4. Reducing government operational costs: To ensure fiscal responsibility, ministries and government agencies will be required to cut recurring expenses by at least five per cent. 5. Low-income support: Providing direct cash support to low-income citizens in case of any adjustments to the prices of subsidised goods during the budget cycle. 6. New revenue streams and corporate responsibility: In a bid to strengthen financial sustainability, the government plans to introduce new tax regulations: Corporate taxes on companies exceeding a certain revenue threshold. Incentives for businesses that prioritise hiring Bahrainis. Increased selective taxes on energy drinks, sugary beverages, and tobacco. Introduction of carbon emission fees for companies. 7. Sustainable urban development: The budget includes initiatives to encourage the development of commercial and investment lands that remain unused, ensuring more effective urban expansion. 8. Deficit reduction strategies: To maintain fiscal stability, the government has outlined strategies to manage financial deficits and secure funding for necessary expenditures. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
11-03-2025
- Business
- Trade Arabia
Bahrain announces record $2bn housing budget for 2025-2026
In a landmark move, Bahrain's government has allocated BD800 million ($2.1 billion) for housing projects and services – the largest budget in the nation's history since the introduction of this sector, reported BNA. The announcement was made during a high-level government-legislative meeting yesterday (March 9) at the National Assembly Complex in Gudaibiya, where officials discussed key priorities for the upcoming national budget 2025-2026. Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa led the government's delegation while National Assembly and Parliament Speaker Ahmed Al Musallam and Shura Council Chairman Ali Saleh Al Saleh headed their respective chambers. The government team also reviewed several ministerial priorities and projects proposed for inclusion in the state budget. These include ensuring the sustainability of housing services for citizens and reducing waiting lists by providing immediate access to housing services in partnership with the private sector. Additionally, the government team outlined initiatives to strengthen the education sector by enhancing the role of Bahraini professionals, developing curricula and educational services, and continuing infrastructure projects. These include building new schools in expanding residential cities, reopening historic schools, and constructing academic facilities within schools. Shaikh Salman stressed the significance of the unprecedented investment, asserting that ensuring sustainable housing services for citizens 'is a top priority for the government'. "The BD800 million budget aims to address one of Bahrain's longstanding challenges – housing demand," he stated. "By streamlining service delivery and working closely with private developers, the government seeks to minimise waiting times and provide immediate solutions to those in need," he noted. Shaikh Salman noted the importance of building on the cooperation between the executive and legislative authorities in various projects that benefit the Kingdom and citizens, including the 2025-2026 state budget. The minister highlighted the importance of consultations between the two authorities in shaping the next phase, reinforcing Bahrain's position across various sectors, achieving economic growth, and improving living standards for citizens by providing them with promising opportunities. The minister also emphasised the importance of enhancing cooperation to reach an agreement on the state budget that aligns with citizens' aspirations. During the meeting, the government team underscored its commitment to ensuring that the 2025-2026 state budget serves the interests of the nation and citizens by maintaining positive economic growth while achieving financial sustainability objectives. This aims to enhance development efforts, create new opportunities for citizens, and optimise support allocation for those in need. Housing and Urban Planning Minister Amna Al Romaihi revealed last month that there are 47,600 families waiting for housing services and homes across the kingdom.
