The 2016 budget plan aims to cut spendings to 326 billion riyals, reducing pressure on Riyadh to pay its bills by liquidating assets held abroad
Riyadh/Dubai: 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 privatisation.
20:44 Trump is trying to take credit for a jobs announcement Charter made months ago23
12:52 Sears reveals 'substantial' doubts about future, shares plunge 11%21
12:34 Sears warns of 'going concern' doubts16
10:05 Americans worry, cheer as Congress moves to upend the Affordable Care Act31