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Egypt president in Saudi Arabia to reaffirm ties

Egypt president in Saudi Arabia to reaffirm ties

Saudi Arabia's King Salman has reinstated bonuses and special allowances for civil servants and military personnel that had been cut last September as part of austerity measures when oil revenues were low. Since late 2016, however, prices have partially rebounded, with Brent crude LCOc1 now trading around $52 a barrel compared to last year's average of $45. He's also scrapped cuts made previous year to state employees' pay, prompted by oil revenue falls.

The Saudi share index.TASI gained 1.0 percent on Sunday, buoyed by expectations of a positive impact from higher disposable incomes on consumer sectors like retail and food. Minister of Telecommunications and IT Mohammed Al-Suwaiyel has been replaced by Abdullah bin Amer Al-Sawaha.

The two Arab leaders then had talks during which they "reviewed the strong and brotherly relations as well as cooperation between their two countries" and regional issues, the agency said.

He joined other key officials in highlighting figures pointing to economic recovery.

Salaries and allowances accounted for 45% of government spending in 2015, or $128bn (£99bn), and contributed to a record budget deficit of $98bn. After that, the Kingdom suspended oil supplies from Aramco, a state-owned company headed by Crown Prince Mohammad bin Salman, to Egypt for three months without stating clear reasons.

The king changed some regional governors, along with numerous senior bureaucrats including the head of the General Authority of Sports as the kingdom tries to provide more athletic activities for its people.

Salman fired Minister of Civil Service Khaled al-Araj, who will be investigated by a committee of the Royal Court.

In the series of royal decrees issued on Saturday night, King Salman also ordered holding of final examinations for all phases of public and university education before the start of Ramadan, Saudi Gazette said in its report. The kingdom's anti-corruption body Nazaha concluded the minister had hired his son in a post for which he was unqualified.


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