RIYADH: Saudi Arabia’s austerity drive to counter the impact of low oil prices came at a cost. Domestic demand has been hurt by lower spending on infrastructure projects and cuts in public servants’ bonuses, leaving economic growth dependent on the oil sector. The expected rebound in oil prices in 2017 may allow the government to increase spending, which might fuel a recovery in the non-oil economy.
Punjab revises property valuation rates to attract UAE & Gulf investors
LAHORE: The Punjab government has started revising property valuation rates across multiple districts in an effort to attract foreign investment,...
