Brent is forecast to average $104 next year, down from about $110 in 2013, Jadwa said.
The contracts were awarded to Canadian and Asian companies concerning its new phosphate mining and production project.
Next year’s 4.3 per cent rise in planned spending is far smaller than the 19 per cent leap envisaged by the 2013 budget plan.
Prince Mishaal replaces Prince Khaled al-Faisal, who has been made education minister.
Al- Naimi played down any suggestion the Kingdom was ready to cut production to accommodate increased supply.
More than a million immigrants from across the world have left Saudi Arabia since March.
The company plans to open 50 restaurants across the Kingdom in the coming years.
Roads of Arabia, which runs through March 9, features tools, steles, incense burners, statues and other pieces from the Kingdom.
The facility, funded by Bank of Tokyo-Mitsubishi UFJ and Mizuho Financial Group, is part of a wider $2 billion finance package for the Jeddah South project.
The Islamic bond has a lifespan of seven years, with a clause allowing the bank to redeem the paper after five years.
Around 723,000 Saudi nationals have been employed through the Nitaqat system.
Muhammad Husayn Qahtani and Hamood Abdulla Hamood were repatriated after spending 11 years in Guantanamo.
The growing domestic demand for hydrocarbons, exacerbated by low prices, is the key long-term challenge faced by the Kingdom, said Jadwa Bank.
The lender plans to boost its share capital to SAR4.76 billion to help support its growth and capital base.
The loan will act as a bridge financing until the company launches a sukuk issue in 2014.
Omar al-Saeed is reportedly the fourth member of the Saudi Civil and Political Rights Association (ACPRA) to be jailed this year.
The petrochemical company is a joint venture between oil giant Saudi Aramco and Sumitomo Chemical.
MubasherTrade report forecasts low-to-mid-single digit economic growth rates in the Middle East in 2014.
Over 100,000 Ethiopians repatriated from Saudi Arabia since the Kingdom began deporting illegal migrants in November.
Saudi Arabia’s Grand Mufti condemned suicide bombings as grave crimes.
Despite experiencing cyber attacks, the majority of Saudi Arabian consumers have not installed anti-virus software on their systems.
Aramco has the option to reduce monthly sales volumes to term buyers.
Dabbagh Group is planning to sell a 19 per cent stake in its lubricant business, say sources.
Jeddah-based Alkhabeer Capital did not disclose financial details of its purchase into Dubai’s Express Group.
A meeting of military officers, diplomats and analysts took place during a security conference in Bahrain last weekend.
The Kingdom cut production in October after pumping at record rates of around 10 million bpd for three months.
Saudi Arabia has been repatriating illegal expats with the hopes of stemming unemployment among locals.
Bank loan growth to the private sector was 13 per cent in October, the slowest rate of expansion since May last year.
The Kingdom’s economy expanded at an annual rate of 3.1 per cent in the third quarter of this year.
The current 30 million barrel-a-day target for the 12-nation group adequately matches demand, say officials.