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FINANCIAL NEWS
Saudi Arabia pays USD10.66bn to private firms
20 Nov 2016
(MENAFN) Saudi Arabia had made a payment of SR40bn it owed to private firms, in less than two weeks after a settlement of dues to the contractors.
However, the settlement was late due to a decline in oil revenue and the new measures taken by the kingdom to cut spending on many projects.
Accordingly, the kingdom is predicted to pay up to 80 percent of the whole dues to contractors amid the remaining few weeks of this year.
The funds released by the kingdom will help the firms to pay what is owed to foreign workers and will make cash flow in the market.
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BBK Enhances Autumn Fair 2026 Experience with Customized Rewards and Premium Services
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