The Cabinet insisted that the public offering and listing of shares of new companies should be in accordance with regulations and laws.

RIYADH: Crown Prince Salman, deputy premier and defense minister, on Monday, briefed the Cabinet on the message he received from President Tony Tan Keng Yam of Singapore, the results of his meeting with Palestinian Prime Minister Rami Al-Hamdallah, and his meeting with French Defense Minister Jean-Yves Le Drian.

Minister of Culture and Information Abdul Aziz Al-Khodairy said the Cabinet expressed its pride over the Kingdom’s prudent economic policies, which have succeeded in protecting its economy from fluctuations caused by global economic conditions and the decline in oil prices.

“The new 2015 budget is a continuation of government’s policy of increasing expenditure to achieve comprehensive and balanced development, improve services for citizens, and create more jobs for them in the public and private sectors,” he said.

The Cabinet expressed regret over the failure of the United Nations Security Council to agree on a draft resolution to end the Israeli occupation of Palestinian territories.

It reiterated the Kingdom’s appeal to the Security Council to end the Israeli occupation and enable the Palestinians to establish an independent state with Jerusalem as its capital. The Cabinet stressed the importance of continuing Arab diplomatic efforts in support of the Palestinian cause.

Al-Khodairy said the Cabinet approved a model agreement for cooperation between the Ministry of Foreign Affairs and its counterparts in other countries. The Cabinet authorized the minister of Islamic affairs to hold talks with the Malaysian side to sign a cooperation agreement.

The Cabinet insisted that the public offering and listing of shares of new companies should be in accordance with regulations and laws. Those seeking exemptions must apply for approval from Cabinet, which could provide this for three years, he said.

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