Government | Wednesday 6 March, 2024 12:20 am

Ministry may study dependent levy, new savings products: Al-Jadaan

Mohammed Al-Jadaan, Minister of Finance, disclosed that a study is presently in progress to re-evaluate the dependent fee, as Saudi Arabia seeks to attract skilled talents and foster stability, ultimately aiming to enhance the overall productivity.   In a podcast, Al-Jadaan explained ...

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Business & Money | Tuesday 5 March, 2024 10:38 am

LEAP 2024: Alat and KACST partner to support Saudi Arabia’s semiconductor industry

Alat, a PIF company, and King Abdulaziz City for Science and Technology (KACST) today signed a partnership agreement to support the development of the semiconductor industry in Saudi. The agreement will contribute to achieving the goals of Saudi Vision 2030 to grow and diversify the national...

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Business & Money | Monday 4 March, 2024 9:56 am

DAN COMPANY AND HILTON SIGN AGREEMENT TO OPERATE DAN’s FIRST THREE RESORTS

Following a signing ceremony during a recent visit to Saudi Arabia by global Hilton leaders, leading global hospitality company Hilton and Dan Company, a Public Investment Fund (PIF) company specializing in agritourism, ecotourism, and adventure tourism signed an agreement with Hilton to...

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Government | Monday 4 March, 2024 9:46 am

REGA lists violations, penalties for real estate contributions law

The Real Estate General Authority offered, on Istitlaa platform, a table for violations and penalties for the real estate contributions law and its executive regulations, for public opinion no later than March 14, 2024.   Through the table, the authority aims to enhance compliance...

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Business & Money | Monday 4 March, 2024 9:29 am

Red Sea subsidiary inks deal with SAB to raise facilities limit by SAR 65M

Red Sea International Co.’s (RSI) subsidiary, Fundamental Installation for Electric Work Co. Ltd., signed an agreement to increase its credit facilities limit with Saudi Awwal Bank (SAB) by SAR 65 million to SAR 196.10 million.   In a statement to Tadawul, the...

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Business & Money | Sunday 3 March, 2024 9:54 am

Zain KSA achieves record annual revenue of SAR 9.9 Billion in 2023

Zain KSA unveiled its 2023 financial results, marking a record annual revenue of SAR 9.9 billion, up from SAR 9.1 billion in 2022, with an impressive 9% growth.  This revenue surge propelled Zain KSA  to achieve its highest-ever annual profit, reaching SAR 1.3 billion,  a remarkable...

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Government | Sunday 3 March, 2024 8:54 am

Minister of Municipal Affairs approves Municipal Licensing Procedures Law

Minister of Municipal, Rural Affairs and Housing, Majid Al-Hogail, approved the Municipal Licensing Procedures Law, Umm Al-Qura newspaper reported on March 1.   This replaces the Executive Regulations of the Municipal Licensing Procedures Law issued on Jan. 30,...

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Business & Money | Saturday 2 March, 2024 1:26 am

Enhancing fair trade practices important for economic opportunities in developing countries

Minister of Finance, Mohammed Al-Jadaan, said that enhancing fair trade practices is important for increasing economic opportunities in developing countries. He also emphasized the need to continue implementing the common framework for debt treatment.   In the first G20 Finance...

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Business & Money | Saturday 2 March, 2024 1:22 am

SAMA Governor says monetary policies should ensure price stability

Ayman Al-Sayari, Governor of Saudi Central Bank (SAMA) said that monetary policies should ensure price stability and be ready for immediate action to address economic changes.   He added that a stable financial sector is capable of efficiently converting savings into investments,...

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Business & Money | Saturday 2 March, 2024 1:19 am

Saudi Arabia to build food industrial clusters in Jazan, use Made in Saudi label on Lucid cars

Saudi Arabia will build food industrial clusters in Jazan, mining industrial clusters in Ras Al-Khair, automotive industrial clusters in Jeddah, and chemicals clusters in Yanbu, Al-Eqtisadiah newspaper reported, citing Bandar Alkhorayef, Minister of Industry and Mineral...

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