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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.
More News
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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