Home
Saudi Arabia is considering giving contractors IOUs to settle their dues
Hits: 1301
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
Hits: 1301
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
» Politician: Salem Al-Issawi will not become Speaker of Parliament
» Planning reveals the mechanism for examining gold in local markets
» Including railway connectivity and water shares... Iraq and Iran are discussing a number of common i
» Oil is preparing to export gas oil after achieving self-sufficiency
» Trade is preparing to hold a number of specialized exhibitions in Baghdad and the provinces
» Erdogan: Our goal is to raise the volume of trade with Iraq to more than 20 billion dollars
» Al-Sudani confirms Iraq's openness to fruitful partnerships with French companies
» Determining the launch date for the activities of the 48th session of the Baghdad International Fair
» Al-Sudani receives a delegation from the Union of Arab Banks
» utube 5/3/24 MM&C Iraq Dinar Update - Expectation - Implementation - Activation - New Exchange Rat
» utube 5/4/24 MM&C Iraq Dinar- IQD Update - No Float of Exchange Rate - Budget -2024 - Schedules -
» “Services” asks the Central Bank about billions of foreign banks in Iraq
» Central Bank: Iraqi banks still face challenges in complying with international laws and standards
» Parliamentary bloc: The Central Bank offers hard currency to “mafias” on a golden platter.. The Suda
» The Iraqi Central Auction witnesses a rise in foreign remittances to $267 million
» Wednesday.. The session to elect the President of the Iraqi Parliament is heading towards “Al-Issawi
» The Union of Arab Banks proposes 4 “important” points for Iraqi banks to meet compliance standards
» In the document... the Central Bank decides to return the “Al-Mal” Bank to work... in this case
» The Iraqi-American agreements and cooperation were the most prominent topics of Al-Araji and Romanow
» Al-Hakim meets a joint delegation of resolve and sovereignty and renews the call to hold a session t
» Nearly one billion dinars were recovered and 3 million liters of fuel intended for smuggling in Iraq
» Al-Sudani and the European Union ambassador discuss issues of economic partnerships, civil aviation,
» More than 950 million dinars... petroleum products announced their recovery
» Forming a committee to follow up on stopping the sale of the dollar to travelers
» The Minister of Justice visits Al-Muthanna Governorate to discuss mechanisms for developing judicial
» Agriculture: Farmers who were affected by the recent rains will be compensated
» Al-Rasheed issues a warning regarding applying for advances and loans
» Al-Rafidain announces the implementation of the comprehensive banking system in its main branch
» Al-Rasheed warns of offices and pages claiming to promote the Salaf
» Adviser to the Prime Minister: There are no conflicts in the route of the Baghdad Metro
» Al-Sudani: We are keen to develop the work of the TBI Bank and address the problems it faces
» Agriculture explains the mechanism of implementing the calendar program and its economic gains
» “The shocks have changed.” The Governor of the Central Bank explains the impact of the openness of I
» The President of the Association of Private Banks sends an “important” invitation to the Central Ban
» Al-Alaq: The Iraqi banking sector has witnessed significant qualitative developments in response to
» On behalf of Al-Sudani, the Minister of Planning sponsors the signing ceremony of a memorandum of un
» The Iraqi Travel Companies Association participates in the Arab Travel Market Exhibition
» The start of the work of the Iraqi-Jordanian Economic Forum
» Integrity Commission at the Arab Anti-Corruption Convention Conference
» Election of the Speaker of Parliament between amendment and disruption
» Plans to increase the real estate bank's capital
» The Central Bank sells more than $276 million in the currency auction
» Advisor to the Prime Minister: We are heading towards a complete transformation of the electronic pa
» Savings and financial inclusion
» Agriculture expects to market 6 million tons of wheat
» Al-Sudani chairs the first meeting of the Supreme Committee for Restructuring the Government Apparat
» Al-Sudani receives an official invitation to participate in the United Nations Climate Change Confer
» "Baghdad Today" in the southern refineries: The Azmara unit will reduce imported gasoline and hard c
» Al-Sudani stresses the importance of supporting the pillars of food security
» Kurdistan is an important oasis for investment. Security and economic stability eliminates the housi
» Politician: Comparing Al-Halbousi to Al-Maliki is not up for discussion
» The Kurdistan Democratic Party demands international supervision of the region's elections
» Al-Sudani heads to Italy next week on an official visit
» Warnings of challenges delaying budget approval, most notably the deficit
» The Ministry of Oil sets the launch date for the fifth and sixth licensing rounds
» Rafidain Bank announces the implementation of the comprehensive banking system in its main branch
» Central Bank Governor: The banking sector is witnessing major qualitative developments
» Economic: Neighboring countries do not import from Iraq for fear of fraud
» The Central Bank of Iraq sells more than $276 million in currency auction
» Agreement on the presidency of Parliament: Did Al-Halbousi win?
» Because of his corruption... Al-Karawi calls for Al-Halbousi to be held accountable
» Al-Shammari: The American presence in Iraq has no legal cover
» A story titled: Al-Fartusi, the Iraqi ports, and the 160 Committee
» The Minister of Finance of the Kurdistan Region expects the date of Baghdad’s sending of salaries fo
» What is the importance of conducting a pilot population census in Iraq?
» The start of the meetings of the sixth session of the joint Iraqi-Iranian committee in Tehran
» The budget schedules did not reach the Council of Ministers
» The Minister of Planning directs the installation and operation of gold screening units at Iraqi air
» Government advisor: Collections will shift almost completely to electronic payment in the middle of
» A politician accuses the American embassy of attracting parties inside Iraq to confuse the situation
» Deputy: The anti-prostitution law blocks the way for destructive ideas
» State of Law: A political agreement to resolve the position of Speaker of Parliament...these are its
» Kurdistan Parliament elections.. The insistence of the two parties intensifies and an international
» Jordan considers Iraq one of its "most important" main partners in the investment field
» Advisor to the Prime Minister: Iraq is a fertile environment for projects, and there is an expansion
» Parliament is close to approving the renewable energy project law
» The delay surrounds five Iraqi ministries.. What is the relationship with the budget?
» Basra Council threatens: We will not accept unreliable companies to work in Qurna service projects
» Iraq intends to convert collections to electronic payment in mid-2024
» Parliamentary Committee: 5 ministries whose completion rates are “low”
» Completion of the five-year national development plan 2024-2028
» Investment opportunities in the ancient city of Ur
» Today.. Baghdad hosts leading scientists and researchers in the field of artificial intelligence
» Conditions and horrors
» Democratic conditions threaten Kurdistan elections and embarrass the Commission
» “Consensus” disrupts laws in parliamentary culture
» Iraq celebrates “World Press Freedom Day”
» Including Iraq... five countries possess more than 1,000 tons of gold
» Davos is between two stations, is Iraq the third?
» Specialists: The food basket was a buffer to mitigate the blow of high prices
» Al-Rafidain Bank announces the implementation of the comprehensive banking system in its Hindi branc
» Learn about the proposed law replacing punishment with financial sums
» With the beginning of summer... poor services and a spiral of crises afflict the citizens of Kurdist
» A new scandal involving one of the “ten promising companies in Basra”... the Iraqi Plain strikes con
» With a package of files... Barzani to Tehran and Talabani to Washington next week
» An expert reveals the size of the "gas gap" in Iraq: Achieving sufficiency within 3 years is very di
» To reach an agreement on 10 memorandums...the start of the meetings of the sixth session of the Iraq
» The dollar is declining slightly against the Iraqi dinar in local markets