Financial and Banking News


Saudi Budget Delayed Again 

The Saudi Arabian government's budget for AH 1406/07 (FY 1986/87), which was originally due to go into effect on 13 March but which was delayed for "up to five months" (MEES 17 March), has been delayed for the second time. According to a statement by the Information Minister, Mr. 'Ali Hassan al-Sha'er, on 4 August the uncertainties surrounding the oil market which made it necessary to...