Fitch Ratings hails kingdom's 2016 budget

New York, Rabi’I 27, 1437, January 07, 2016, SPA — Fitch Ratings hailed the Kingdom of Saudi Arabia’s 2016 budget saying it contains reforms on expenditure restraint.

It said that the 2016 budget outlines measures to improve the fiscal policy framework through rationalizing and management of expenditure and entering privatization to slow the growth of recurring expenditure, especially wages, salaries and allowances, adopt a medium-term expenditure framework and create a debt management office.

It added that the 2016 budget also contains measures to adapt to lower oil prices which focus on petrol and utility price hikes and continuing reform “gradually over the next five years.” At the same time, the measures will be key to resolving the Negative Outlook on Saudi ‘AA’ sovereign rating, it said.

It said that kingdom’s seeking to increase non-oil revenues is a positive step to reduce the expected budget deficit this year, noting that the Saudi government will finance this deficit as it did in 2015 through resorting to reserves and issuance of local and international bonds.

It stated that the kingdom is following a course to avoid the affects of oil revenues decline in its current budget.

–SPA
23:29 LOCAL TIME 20:29 GMT
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بنك Banco Popular Dominicano يختار بطاقة EMV المصنعة من مصادر بيولوجية لشركة Gemalto

أمستردام، 7 يناير 2016 – توفر شركة Gemalto الرائدة على مستوى العالم في مجال الأمن الرقمي (والمسجلة في بورصة يورونيكست تحت الرقم NL0000400653 GTO) بطاقة Optelio EMV البنكية المصنعة من مواد بيولوجية إلى بنك Banco Popular Dominicano الرائد في جمهورية الدومينيكان. تُصنّع البطاقة المصرفية الصديقة للبيئة من مادة متعدد حمض اللاكتيك PLA* المشتقة من الذرة وتتيح لبنك […]

General President of Youth Welfare receives Acting President of Audiovisual Information Commission

Riyadh, 27 Rabi’I,1437 AH, 07 January,2016 , SPA — Prince Abdullah bin Musaed bin Abdulaziz, General President of Youth Welfare Presidency met in his office at Prince Faisal bin Fahd Olympic Complex here today Acting President of Audiovisual Information Commission , Bandar Asiri.
During the meeting, they discussed joint programs between the Presidency and the Commission and ways of their activation so as to contribute to the integration of roles and achieve common goals to serve youth and athletes in the Kingdom.
The Prince also asserted the keenness of the General Presidency for Youth Welfare to strengthen aspects of cooperation with the Commission to serve sport clubs and associations and achieve future goals and aspirations for the youth welfare.
— SPA
16:01 LOCAL TIME 13:01 GMT
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Successful Opening of The Global Conference on Regenerative Life Science in The Great Hall of The People, as a tribute to father of regenerative life, Dr. Rongxiang Xu

BEIJING, Jan. 7, 2016 / PRNewswire — On January 6, 2016, The Global Conference for Collaboration and Cooperation on Regenerative Life Science cosponsored by Chinese Red Cross Foundation and Beijing MEBO Institute for Burns, Wounds and Ulcers was successfully opened in the Great Hall of the People, in which authorities with expertise in the field of regenerative life science from the domestic and the […]

Kingdom and Sudan discuss trade relations

Riyadh, 27 Rabi’I,1437 AH, 07 January,2016 , SPA — The Secretary General of the Chamber of Commerce and Industry in Riyadh, Dr. Mohammed Al- Kathiri met here today with the Deputy Head of Sudan’s Diplomatic Mission in Riyadh Ambassador Dr. Ahmed Al-Tijani Suwar and discussed trade relations between the business sectors of the two countries.
The meeting dealt with the participation of Saudi companies in the annual Khartoum International Fair, which takes place from January 25 to February 1 in Khartoum with the participation of a number of companies from around the world.
The two sides also discussed the progress of Saudi investment projects in Sudan. The trade relations between the two countries during the last period has witnessed further development in trade and investment areas; and the trade exchange between the two countries until November amounted to SR(4117) million.
— SPA
15:03 LOCAL TIME 12:03 GMT
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Islamic University Acting Director receives Gambia's Consul General

Madinah, Rabi’I 27, 1437, January 07, 2016, SPA — The Acting Director of Islamic University Dr. Ibrahim bin Ali Al-Obaid received here today the Consul General of Republic of Gambia to the Kingdom Al-Ameen Sato Bojang and Assistant Consul Idrissa Badji .
During the meeting, the Consul General expressed his thanks and appreciation to the University for the services and care being provided for Gambian students.
–SPA
14:48 LOCAL TIME 11:48 GMT
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