Saudi Binladin receives new funds to pay workers
Oct04

Saudi Binladin receives new funds to pay workers

Troubled construction firm Saudi Binladin Group has received delayed funds from the government to settle the remaining back pay owed to its employees, according to reports. The firm was reported to have laid off up to 77,000 foreign workers in May, many of which were owed months of wages, following a cash crunch linked to falling government spending and a ban from news projects after the Makkah Grand Mosque crane disaster. AFP cited...

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Use of funds from Russia’s Reserve Fund may total $46.1 bln in 2016
Sep18

Use of funds from Russia’s Reserve Fund may total $46.1 bln in 2016

The use of funds from the Reserve Fund may total 2.3-3 trillion rubles ($46.1 bln) in 2016 depending on this year’s privatization results and the amount of other revenues, according to the regulator’s report on monetary policy released on Friday. “According to the estimates of the Russian Finance Ministry, the use of funds from the Reserve Fund for financing the federal budget deficit in 2016 may total 2.3-3 trillion...

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