(New York Times) Ben Hubbard - Saudis are very happy with their new monarch, King Salman. Since ascending to the throne last month, he has ordered giant payouts to a large chunk of the Saudi population that will ultimately cost more than $32 billion. These included grants to professional associations, literary and sports clubs; and bonuses worth two months of salary to all government employees, soldiers, pensioners and students. With more than $700 billion in foreign reserves, the Saudi government faces no immediate crunch.
2015-02-20 00:00:00Full ArticleBACK Visit the Daily Alert Archive