The severe drop in oil prices and a strengthening dollar have made the peg less attractive and Riyadh has been using its foreign exchange reserves to prop up its budget and support the peg.
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Bandai Namco Confirms Tales Of Berseria And JoJo’s Bizarre Adventure Heading West
We havent quite wrapped up 2015 just yet and already Bandai Namco is hard at work trying to get gamers pumped for 2016. While not as successful as Final Fantasy , The Tales games have had a good amount of success.
Prices tanked more than 3% yesterday, effectively dousing a rally that followed after Brent crude tumbled to 11-year lows last week. “This requires changes to focus on essential expenditures”, Finance Minister Ibrahim al-Assaf was quoted as saying Tuesday by the Al-Eqtisadiah newspaper.
Mariota’s season over, Titans say QB will not play at Indy
Mariota said he has not spoken to Kelly, who led the Eagles to a 26-21 record over three seasons and a 6-9 mark this year. “To win 10 games his first two years says a lot about what he’s able to do and a lot about his coaching”, Mariota said.
National oil conglomerate Aramco said on Twitter it was immediately closing petrol stations until midnight on Monday, when it will resume sales at new prices.
Coalition makes several demands in response to Tamir Rice decision
But the OH governor argued that protesters need to have their voices heard and said he thought the U.S. He said the dispatcher’s failure to provide the information about the “fake gun” was key to the case.
“It is natural to expect such measures in these circumstances”, he told AFP while filling his auto.
Saudi Arabia will see an increase of 50 percent in petrol prices, as a range of subsidies will also be cut, after posting a record budget deficit.
Saudi Arabia, the world’s biggest crude exporter, is cutting its dependence on oil revenue due to the slump in crude prices while boosting production to defend its market share.
Saudi electricity and water bills are set for a sharp rise following Monday’s cabinet approval of the first of a series of comprehensive economic, fiscal, and structural reforms amid low oil prices.
Falling oil revenues arising from the long-lasting strategy by the Opec oil producer cartel to suppress oil prices have led to the state deficit swelling to 367 billion riyals ($97.9bn) in 2015, around 15% of GDP. “This signals that the Saudis are ready for the new market reality in 2016”, Sfakianakis said. This is a huge deal because oil revenues make up 77% of the country’s total revenue.
But Saudi economist Abdulwahab Abi-Dahesh said much more needed to be done.
The kingdom has announced a raft of public spending cuts after it logged a record $98 billion deficit in 2015.
This is the first budget under King Salman, who ascended to the throne in January, and for an economic council dominated by his increasingly powerful son, Deputy Crown Prince Mohammed Salman.
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“This is the beginning of the end of the era of free money”, said Mr Ghanem Nuseibeh, founder of London-based consulting firm Cornerstone Global Associates.
