Business & Money | Saturday 26 December, 2015 3:17 pm

SAMA licenses SR900m home finance company

Saudi Arabian Monetary Agency (SAMA) has granted a license to its national home finance company, Bidaya and it will launch with SR900 million ($239.94 million) in capital, the firm announced. SAMA’s decision joins efforts to boost home ownership in the Kingdom, where a shortage of affordable ...

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Business & Money | Saturday 26 December, 2015 12:33 pm

China Formally Establishes Asian Infrastructure Investment Bank

The Chinese-led Asian Infrastructure Investment Bank (AIIB) was formally established on Friday, and is expected to be operational by early next year, local media reported Friday. "The AIIB is legally established as the Articles of Agreement take effect today,"...

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Tourism & Hospitality | Saturday 26 December, 2015 12:26 pm

Turkish Airlines announces maiden flight to Dubai from Sabiha Gokcen International Airport

Turkish Airlines, the national flag carrier of Turkey, and Europe’s best airline for the fifth year in a row*, announced its maiden flight from its second airport in Istanbul, the Sabiha Gokcen International Airport, to Dubai commencing 25 December 2015. Turkish Airlines currently flies 14 ...

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Environment & Energy | Saturday 26 December, 2015 12:18 pm

Capital in grip of chilly, wet weather

The cold spell, chilly wind and wet conditions continued in Riyadh Friday, forcing people to stay indoors and the government issuing warnings of slippery roads and flooding in low-lying areas. The temperature fell below 10 degrees Celsius, with a strong wind causing even chillier conditions as...

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Business & Money | Saturday 26 December, 2015 11:09 am

AECOM and Pininfarina Win Istanbul New Airport Design Competition

İGA has chosen an innovative design by AECOM and Pininfarina as the winner of an international design competition for the regional Air Traffic Control (ATC) tower and technical building at the Istanbul New Airport. Unusually, the winning entry marries influences from the aviation and automotive...

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Business & Money | Friday 25 December, 2015 5:51 am

KAEC inks SR27m contract for Logistics Park

KING Abdullah Economic City (KAEC) has signed a contract with Mikati Contracting Est. to build a unique Logistics Park located in Phase B1 of the Industrial Valley. The SR26.6 million facility, comprising prefabricated light-manufacturing and warehousing units, will be completed by the third...

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Business & Money | Friday 25 December, 2015 3:49 am

SR9 billion set aside for development projects

The government has allocated SR9 billion for several projects in four provinces in the western region, Makkah Gov. Prince Khaled Al-Faisal said here Wednesday.  The prince made this statement at the conclusion of his tour of four provinces — Qunfudah, Adhm, Laith and Artiyat — in...

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Government | Friday 25 December, 2015 2:48 am

Economic development council unveils transformation initiatives

As part of the Kingdom’s National Transformation Project, the Council of Economic and Development Affairs is currently working in coordination with government authorities to set in place a strategic implementation plan to increase national economic outputs and launch a series of economic...

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Business & Money | Friday 25 December, 2015 2:35 am

Panasonic Presents 360° OBSERVATION CAM - Neymar Jr.'s Crazy Skills in 360-degree Real Footage!

Panasonic Corporation released a new web content, "360° OBSERVATION CAM," on Monday, December 21, 2015 at 10:00 (Japan Time), where users can view the 360-degree footage of Neymar Jr.’s amazing skills on smartphone or computers. Panasonic supports the dreams of children...

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Business & Money | Friday 25 December, 2015 2:31 am

Launch of QIPF as a collaboration between QFBA, OECD and MoF

In a seminar held on December 13 at Doha’s Sharq Village and Spa, the Qatar Institute for Public Finance (QIPF) saw its official launch as a collaboration between the Qatar Finance and Business Academy (QFBA), the OECD (Organization for Economic Co­operation and Development) and the...

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