FacebookInstagramTwitterContact

 

BORNEO HOUSING AGENCY: Shop House in Seria Town • Industrial Warehouse in Menglait, Gadong for Rent • Shop house in Gadong (Ground Floor) for Rent • Industrial Shops in Bunut for Sale • Land in Jerudong for Sale • • Shop house in Kiarong for Sale (B$380.00) • TEL: +6738732975           >>           Private Company Urgently Need Houses & Flats for Rent in Bandar Seri Begawan, Kindly Contact the ff. nos. for further information: +673 222 0178/+673 873 2975           >>           S.Korea's producer prices hit 33-month high on expensive crude oil           >>           China's home prices continue to stabilize           >>           Missing pilots from crashed Myanmar military jet fighter confirmed dead           >>           Tunisia expects to localize traditional Chinese medicine           >>           Peserta junjung kasih zahirkan kegembiraan, kesyukuran           >>           Perarakan Kenderaan, Basikal Berhias penuh warna warni           >>           Berangkat ke Perarakan Kenderaan Berhias, Perasmian Eko Koridor dan Majlis Junjung Kasih dan Kesyukuran           >>           Boabab Tree Adds Distinctive Feature           >>           Participation of 36 Vehicles and 11 Bicycles           >>           Pre-Dawn Lecture           >>          

 

SHARE THIS ARTICLE




REACH US


GENERAL INQUIRY

[email protected]

 

ADVERTISING

[email protected]

 

PRESS RELEASE

[email protected]

 

HOTLINE

+673 222-0178 [Office Hour]

+673 223-6740 [Fax]

 



Upcoming Events


The Opening Ceremony of the Eco-Corridor and Mass Junjung Kasih and Kesyukuran Ceremony
October 22nd, 2017 | 07:15 AM


2017 Brunei Motor Show
October 28th, 2017 | 00:00 AM


Brunei Salebration
November 23rd, 2017 | 09:00 AM


JERUDONG PARK SCHOOL HOLIDAY SPECIAL
December 1st, 2017 | 00:00 AM


THE BRUNEI ISLAMIC TOUR EXPERIENCE
December 1st, 2017 | 00:00 AM





Prayer Times


The prayer times for Brunei-Muara and Temburong districts. For Tutong add 1 minute and for Belait add 3 minutes.


Imsak

: 04:37AM

Subuh

: 04:47AM

Syuruk

: 06:05AM

Doha

: 06:28AM

Zohor

: 12:06PM

Asar

: 03:24PM

Maghrib

: 06:04PM

Isyak

: 07:14PM

 



The Business Directory


 

 



World Business


  Home > World Business


Saudi Arabia May Offer Cheap Loans To Spur Job-Rich Industries


Photographer: Simon Dawson/Bloomberg

 


 April 21st, 2017  |  10:00 AM  |   599 views

SAUDI ARABIA

 

Saudi Arabia may offer “almost interest-free” loans to companies in labor-intensive industries, as part of a plan to stimulate an economy squeezed by low oil prices and spending cuts, Finance Minister Mohammed Al-Jadaan said.

 

Officials are in talks with private companies about other kinds of government support too, Al-Jadaan said in an interview on Thursday in Washington, where he’s attending International Monetary Fund and World Bank meetings. The proposal will likely be ready by the end of the second quarter, he said.

 

Saudi Arabia has embarked on what it describes as an unprecedented shakeup of an economy that’s heavily reliant on oil. The so-called Vision 2030, spearheaded by Deputy Crown Prince Mohammed bin Salman, was announced last year and includes plans to sell shares in state companies and curb government spending.

 

There’s also a strong emphasis on creating jobs for the kingdom’s youthful population. Earlier on Thursday, Saudi authorities said that foreigners will be barred from working in shopping malls, a move expected to put 35,000 Saudis into work.

 

Debt Markets

 

Al-Jadaan said the new lending program will help companies restructure debt, easing the impact of higher domestic energy prices as subsidies are cut.

 

Authorities are also asking companies “what do you need from the government side, what are the issues you’re suffering in terms of licensing, procedure?” he said.

 

Saudi Arabia is likely to return to domestic and international bond markets this year after a successful sukuk sale, Al-Jadaan said, without giving details. He said the government prefers to borrow rather than draw on its reserves.

 

The government didn’t tap the central bank’s foreign-exchange holdings in the first quarter of this year, and the decline in reserves in the first two months may have been a result of private companies settling overseas bills or financing imports, al-Jadaan said.

 


 

Source:
courtesy of BLOOMBERG

by Alaa Shahine

 

If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at [email protected]

 

Related News


Over 2,000 Flood Evacuees In Kota Belud

 2017-10-23 09:09:45

Japan PM Shinzo Abe Promises To Deal With North Korea Threat

 2017-10-23 09:20:27

Singapore-Listed Noble Group Will Sell Its Oil Trading Business

 2017-10-23 09:50:36