Saudi Arabia plans to spend US$154.7 billion in 2011 on infrastructure and education to spur growth in the countrys economy.
Saudi Arabia to spend US$155 billion in 2011
Technology
GCC aid is unlikely to immediately affect ratings on Bahrain and Oman
Standard & Poors Ratings Services said that ongoing political tensions in the Kingdom of Bahrain (BBB/Watch Neg/A-3) and Sultanate of Oman (A/Watch Neg/A-1) remain a significant issue for the credit standing of both sovereigns. This is despite the Gulf Cooperation Councils (GCCs) March 10 announcement of a US$20 billion economic aid support package over ten years, to be shared equally between the two governments.
Dubai's 2011 deficit cut to US$1 billion
Dubais government approved a 2011 budget that sees the budget deficit cut to US$1 billion due to the authorities continuing to cut spending.
Saudi reaching out with more
Saudi Arabias King Abdullah unveiled additional financial support measures in mid March estimated to cost SR350 billion (US$93 billion). An estimated SR135 billion (US$36 billion) worth of measures were announced at the end of February.
Qtel Data Centre expansion programme complete
Qtel has completed its expansion programme for 2011 which has resulted in Qtel Data Centre receiving a major upgrade.
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