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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Saudi Arabia is considering giving contractors IOUs to settle their dues

    Rocky
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    Saudi Arabia is considering giving contractors IOUs to settle their dues Empty Saudi Arabia is considering giving contractors IOUs to settle their dues

    Post by Rocky Thu 19 May 2016, 8:27 am

    Saudi Arabia is considering giving contractors IOUs to settle their dues
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    Saudi Arabia is considering giving contractors IOUs to settle their dues Image


    19-05-2016 11:02 AM


     
    Bankers said that Saudi authorities, banks reported that it is considering giving contractors IOUs to settle some of their dues on the government.
    Quoted 'Bloomberg' for people familiar with the subject, that contractors who will receive those bonds they hold to maturity date or resale of local banks. These bonds do not include provisions for so specific or for payment.
    And facing construction companies in Saudi Arabia difficulties due to late receipt of dues, and the freezing of some projects, some contractors have recently received some payments from the government cash, and still some of the other outstanding dues.
    The sources said that the government action came as one of the alternatives to reduce spending in light of the expected budget deficit this year.

    - See more at: http://www.ikhnews.com/index.php?page=article&id=144390#sthash.CAGdGsf6.dpuf

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