Spending this year is projected at about Dhs41 billion ($11.2 billion), up from Dhs37.88 billion in the original budget for 2014, according to state news agency WAM.
A Saudi source familiar with the affairs of the royal family said the king would most likely stay in hospital for another week.
The U.S. State Department expressed concern over the detention of a senior opposition leader on Wednesday, saying it would further inflame tensions in the country.
The man was one of 23 men wanted by Saudi authorities, who accuse them of serving the agenda of a foreign power.
The energy project appears to be one of the first suspended in Saudi Arabia in response to the halving of the oil price in the last six months.
Government expenditure this year is estimated at OMR14.1 billion ($36.6 billion), up 4.5 per cent from last year’s original plan, the ministry said.
Banana Island Resort Doha is the group’s first property in Qatar.
The airport had earlier said the flight, which was headed to Doha, was diverted due to a minor medical issue.
The U.S. State Department said that it was concerned that an arrest of such a senior leader could inflame tensions in the country.
Under the new structure, the company will focus on carrying out professional project management, ensure timely delivery of all projects and improve its customer service.
A news conference on the budget was scheduled to be held at 10 a.m. local time.
Jain was previously executive director of finance and group chief financial officer at Emaar, according to the company’s website.
The monarch, who took power in 2005 after the death of King Fahd, has undergone surgery in the past few years related to a herniated disc.
The council said that such a tax would have a negative impact on the country’s investment prospects.
Dubai’s stock index edged up 0.5 per cent in relatively thin trade while Abu Dhabi’s bourse was up 1.6 per cent.
The decision to sell the business was due to the bank’s review of “strategic alternatives and operational priorities”, a statement said.
Oman has been considering a range of spending cuts and tax rises, including a levy on the remittances of foreign workers.
Sheikh Ali Salman, head of the al-Wefaq Islamic Society, was arrested on Sunday after leading a protest rally against last month’s elections.
As the countdown to 2015 begins, Gulf Business rounds up a list of new year’s eve parties that are creating a buzz.
The DFM General Index tumbled 5.4 per cent, the steepest retreat since December 16.
Passenger traffic related to Russia and other countries in the Commonwealth of Independent States plunged 18.2 per cent from a year earlier in November, Dubai Airports said.
The fuel retailer has slashed the price of diesel by an additional 20 fils to Dhs3.10 per litre as of December 30.
The identity of the buyer of CBK’s holding in Boubyan was not immediately clear.
Songbird’s management earlier this month said an offer from Qatar undervalued the London based-developer.
The start-up phase will involve testing equipment at the plant, which has annual production capacity of 4,000 tonnes, a statement said.
Unnamed government official denies comments on social media about the government mulling a reduction in public expenditure.
The bank said that it will give a dividend of 35 halalas per share, down from 80 halalas from the same period last year.
The 2015 budget is around 23.44 per cent larger than the previous year, a senior official said in a statement.
The facility is located in Saudi Arabia’s Jubail Industrial City.
The verdict was announced by the chief prosecutor of terrorist crimes who said that the three were among 12 people charged with a bomb attack in February that killed the policeman.