Latest Energy subsidies News

Egypt increases fuel prices, as part of austerity measures

Jun. 16, 2018 2:33 PM EDT

CAIRO (AP) — Egypt announced Saturday steep increases in fuel and cooking gas prices as part of the country's economic reforms and austerity measures designed to overhaul the country's ailing economy. The new prices went into effect Saturday morning, the Ministry of Oil said in a statement. Prices for...

The Latest: Activists say 2 killed by Syria shelling

Jun. 15, 2018 7:59 AM EDT

GAZA CITY, Gaza Strip (AP) — The Latest on Eid al-Fitr (all times local): 3 p.m. Syrian activists say two people were killed when the government shelled a cemetery where they were visiting the graves of their relatives on the first day of the Eid al-Fitr holiday. Mahmoud al-Hamawi says three others were...

Egypt defends austerity measures amid fears of unrest

Jun. 13, 2018 12:16 PM EDT

CAIRO (AP) — Egypt's President Abdel-Fattah el-Sissi on Tuesday defended austerity measures aimed at reviving the economy, amid fears of public anger that may have motivated the arrests of activists and bloggers in recent weeks. The government recently raised the price of electricity and tap water as part...

New Jordan PM promises chance as anti-tax protests resume

Jun. 6, 2018 4:29 PM EDT

AMMAN, Jordan (AP) — Jordan's incoming prime minister said Wednesday he will work with different parties on a fair tax system, suggesting he will be responsive to criticism of a tax plan that forced out his predecessor. Omar Razzaz posted the conciliatory message on Twitter a day after Jordan's King...

Egypt's central bank says mounting foreign debt at $82.9bn

May. 31, 2018 12:11 PM EDT

CAIRO (AP) — Egypt's foreign debts reached around $82.9 billion, for the period ending December 2017, rising by 4.9 percent compared to six months earlier, the Central Bank of Egypt revealed in a report on Wednesday. The CBE, however, maintains that the foreign debt to gross domestic product ratio is...

Coal industry praises Northam decision to sign tax credit

May. 27, 2018 9:55 AM EDT

RICHMOND, Va. (AP) — Southwest Virginia lawmakers and coal industry representatives see hope for economic development in Gov. Ralph Northam's decision to sign a bill reinstating a pared-down tax credit for certain coal producers, but environmental groups call the move a wasteful corporate giveaway. The...

Brazil president says striking truckers could be removed

May. 25, 2018 7:34 PM EDT

RIO DE JANEIRO (AP) — A nationwide strike by thousands of truckers brought much of Latin America's largest nation to a halt on Friday, prompting Brazilian President Michel Temer to authorize the military to use force in removing drivers and their parked vehicles from highways and other roads. Truckers...

New Jersey OKs $300M annually to rescue nuclear industry

May. 23, 2018 1:47 PM EDT

SOUTH BRUNSWICK, N.J. (AP) — Legislation that would authorize $300 million annually to rescue New Jersey's nuclear energy industry — a request for financial help made by the state's largest utility company — was signed into law Wednesday. Democratic Gov. Phil Murphy alongside lawmakers at a...

Consultant pleads guilty to tax evasion in tax credit case

May. 17, 2018 8:53 AM EDT

SALEM, Ore. (AP) — A Seattle-based energy consultant has pleaded guilty to evading income taxes on the $1.3 million in commissions he collected from brokering tax credits with the help of a former manager at the Oregon Department of Energy. The Oregonian/OregonLive reports Martin Shain entered the guilty...

APNewsBreak: Alaska sued over Walker's bonding proposal

May. 15, 2018 12:21 AM EDT

JUNEAU, Alaska (AP) — An Alaska resident sued the state Monday over Gov. Bill Walker's plan to allow for the issuance of bonds to pay off the state's outstanding oil tax credit obligations. The lawsuit was filed in state court on behalf of Alaska resident Eric Forrer, a former member of the University of...