kingdom

Saudi Economic Shake-up Shows It is Planning for Cheap Oil

By Rania El Gamal DUBAI, Dec 29 – Saudi Arabia’s planned cuts in spending and energy subsidies signal that the world’s largest crude exporter is bracing for a prolonged period of low oil prices. The OPEC heavyweight shows no signs of wavering in the long-term oil strategy it has orchestrated since last year. Instead, it

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Saudi Plans Spending Cuts, Reforms to Shrink Budget Deficit

By Angus McDowall and Andrew Torchia RIYADH/DUBAI, Dec 29 – Saudi Arabia, its finances hit by low oil prices, announced plans to shrink a record state budget deficit with spending cuts, reforms to energy subsidies and a drive to raise revenues from taxes and privatization. The 2016 budget, released by the Finance Ministry on Monday,

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Al Qaeda Threatens Saudi Arabia Over Plan to Execute Prisoners

DUBAI, Dec 1 – Al Qaeda’s affiliate in Yemen threatened the Saudi government over its plan to carry out a mass execution of prisoners, including Al Qaeda members, the militant group announced in a statement posted on social media. Al Qaeda in the Arabian Peninsula (AQAP), one of the deadliest branches of the global militant

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