…..consumers to pay more for fuel, other items Oil prices at the global markets rose to a nine-year high since 2014 on Tuesday as Saudi Arabia announced the sustenance of its voluntary production cuts of one million barrels per day until the end of 2023 even as Russia also expressed its export cuts of 300,000 […]
The Organization of Petroleum Exporting Countries OPEC+ members agreed to maintain their current crude oil supply through the end of 2024, following a weekend of intense oil diplomacy in Vienna, Austria Similarly, quotas for 2024 were lowered for production under-performers, including Nigeria, Angola, Azerbaijan, Malaysia, Congo and a few more countries. Under the arrangement Nigeria’s […]
….both countries still maintain zero tax on income Saudi Arabia and the United Arab Emirates (UAE) have introduced Value Added Tax (VAT) for the first time in their economic histories. The 5% tax took effect from1 January, 2018 in both countries and it is being applied to the majority of goods and services. It would […]