FacebookInstagramTwitterContact

 

Israeli Defense Minister Blames Gaza Group For Border Blast           >>           Afternoon Tea Reception in Conjunction with the 44th Birthday of His Royal Highness           >>           Afternoon Tea Reception In Conjunction With The 44th Birthday Of His Royal Highness           >>           Zimbabwe Opposition Leader: Morgan Tsvangirai Mourned In Harare           >>           Majlis Santap Petang raikan puja usia DPMM           >>           Dawn Lecture           >>           Tiga amalan perniagaan yang tidak merugikan           >>           Nur Qistina Adriana juara Bintang Kecil Ke-40           >>           'Bintang Kecil' Competition           >>           Kiudangku Ceria tingkatkan perpaduan masyarakat           >>          

 

SHARE THIS ARTICLE




REACH US


GENERAL INQUIRY

[email protected]

 

ADVERTISING

[email protected]

 

PRESS RELEASE

[email protected]

 

HOTLINE

+673 222-0178 [Office Hour]

+673 223-6740 [Fax]

 



Upcoming Events


Chinese New Year (16th-17th Jan 2018)
| 00:00 AM


Yes2Malaysia education
February 19th, 2018 | 10:00 AM


Brunei Gastronomy Week
February 23rd, 2018 | 08:00 AM


Negara Brunei Darussalam 34th National Day
February 23rd, 2018 | 10:00 AM





Prayer Times


The prayer times for Brunei-Muara and Temburong districts. For Tutong add 1 minute and for Belait add 3 minutes.


Imsak

: 05:06AM

Subuh

: 05:16AM

Syuruk

: 06:35AM

Doha

: 06:57AM

Zohor

: 12:35PM

Asar

: 03:54PM

Maghrib

: 06:34PM

Isyak

: 07:44PM

 



The Business Directory


 

 



World Business


  Home > World Business


Saudi Arabia Hires Pwc To Advise On $20 Billion Cost Cuts


 


 January 10th, 2017  |  09:02 AM  |   720 views

SAUDI ARABIA

 

Saudi Arabia is working with PricewaterhouseCoopers on plans to cancel about $20 billion of projects as the kingdom seeks to shore up its finances, two people familiar with the matter said.

 

The Ministry of Economy and Planning hired the consultancy firm to review $69 billion of government contracts with a view to cutting about a third of them, the people said, asking not to be identified as the discussions are private. Projects under review include contracts awarded by the ministries of housing, transport, health and education, they said, adding that PwC’s role also includes advising on ways to cut project costs or privatize them.

 

Under Deputy Crown Prince Mohammed bin Salman, the world’s biggest oil exporter is seeking to rein in spending to narrow a budget shortfall that reached nearly 300 billion riyals ($80 billion) last year after oil prices slumped. The kingdom set up an office to limit government spending, according to this year’s budget that was announced in December.

 

Authorities also set up the National Project Management Office last year to control capital spending and ensure that government projects are carried out efficiently.

 

PwC declined to comment, while a spokesman for the Ministry of Economy didn’t immediately respond to requests for comment.

 


 

Source:
courtesy of BLOOMBERG

by Matthew Martin and Zainab Fattah

 

If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at [email protected]

 

Related News


Pitas Holds Longest CNY Festival

 2018-02-19 09:52:18

Sacred Tibetan Monastery In Lhasa Hit By Fire

 2018-02-18 11:18:19

Bain-Backed Consortium Is Said to Be Highest Bidder for Binani

 2018-02-18 11:35:33