Saudi economic council approves Financial Sector Development Program 2020

Wednesday, 9 May 2018

The Council of Economic and Development Affairs has formally approved the Financial Sector Development Program, one of the main programs under the umbrella of Saudi Vision 2030. The program’s objectives include creating a diversified and effective financial services sector to support the development of the national economy, diversifying its sources of income, and stimulate savings, finance, and investment by addressing the sector’s challenges. The program is underpinned by three main ...

Saudi Arabia stresses need to unite against interference of Iranian regime

Tuesday, 8 May 2018

Saudi Arabia stressed, on Tuesday, the need to unite efforts and positions to confront the Iranian regime and its agents from interfering in the affairs of the Arab countries. The kingdom also condemned the Iranian interference in the Moroccan affairs, through Hezbollah, for training the Polisario group in order to destabilize security and stability in Morocco, reported Asharq Al-Awsat. The statement stressed the kingdom’s support of the Kingdom of Morocco in all that guarantees its ...

Saudi King orders protection of whistleblowers who report corruption

Sunday, 6 May 2018

Saudi Arabia’s King Salman has ordered the provision of adequate protection to every employee who submits a complaint against financial and administrative corruption practices to ensure that they are not exposed to any persecution later on.The head of the National Anti-Corruption Commission Dr. Khalid Al Muhaisen pointed out that this matter “emphasizes the interest and concern of the Custodian of the Two Holy Mosques and His Crown Prince to combat corruption, and protect the ...

Saudi government to hand over 25 schools to private sector

Tuesday, 1 May 2018

Saudi authorities on Tuesday ordered the handover of 25 state-run schools to be run by private sector companies. Riyadh announced last week that it aimed to generate 35 billion to 40 billion riyals ($9 billion to $11 billion) of non-oil state revenues from privatizations by 2020, and an official overseeing that process told Reuters that school buildings would feature in some of the first deals. The cabinet of ministers entrusted a supervisory committee for the education sector with the job of ...

SAMA launches Fintech Saudi initiative to enable financial technology sector

Monday, 30 April 2018

In its Riyadh headquarters, the Saudi Arabian Monetary Agency SAMA launched the Fintech Saudi initiative in order to uphold the financial technology system and advocate the kingdom to become a hub for financial technology. Through this initiative, the Saudi Arabian Monetary Agency (SAMA) proposes the promotion of small and medium enterprises, diversify the local economy and create job opportunities. The initiative has a number of goals, most importantly, the launching of the first version of the ...

Saudi Arabia’s King Salman inaugurates Qiddiya Project

Saturday, 28 April 2018

Saudi Arabia’s King Salman bin Abdulaziz inaugurated the Qiddiya Project which is set to be the kingdom’s newest entertainment, sports and cultural destination. The project will be built in al-Qiddiya area, some 40 km west of Saudi Arabia’s capital Riyadh. Qiddiya will be the largest and most important tourist destination in the region, making Riyadh a tourist hotspot. The ceremony of laying the foundation stone was attended by a host of local and international officials and a ...

Japan-Saudi Vision 2030: Big boost to bilateral ties

Friday, 27 April 2018

JAPAN and the Kingdom of Saudi Arabia started diplomatic relationship in 1955, and the two countries cerebrated 60 years of anniversary in 2015 with a variety of cultural events and exchanges, said Japanese Ambassador Tsukasa Uemura while stressing the importance of the bilateral relations in an interview with Saudi Gazette. “The importance of Saudi Arabia to Japan is not limited solely to the petroleum for Saudi Arabia holds a key role for the stability of the region and Islamic world, ...

Saudi economic council adopts Delivery Plan 2020 privatization program

Tuesday, 24 April 2018

Saudi Arabia’s Council of Economic Affairs and Development, chaired by Crown Prince Mohammed bin Salman approved Tuesday the implementation of a “Privatization Program”. The Privatization Program has been named Delivery Plan 2020 and is part of the wider Saudi Vision 2030 Realization Program. The program aims to build on the country’s national economy and improvement of services provided and made available to as many as possible. The program aims at increasing the ...

Saudi King Salman to patronize Qiddiya Project on April 25

Monday, 23 April 2018

Saudi Arabia’s King Salman bin Abdulaziz Al Saud will patronize on Wednesday the much-anticipated Qiddiya Project which is the new entertainment, sports and cultural destination being built in the kingdom. The project will be built in al-Giddiya area, some 40 km west of Saudi Arabia’s capital Riyadh. The ceremony of laying the foundation stone will be attended by a host of local and international officials and a number of decision-makers, major investors and representatives of the ...

Saudi-US ‘Future of Entertainment’ summit to be held in Los Angeles

Wednesday, 4 April 2018

Saudi Arabia’s General Authority for Entertainment has announced the launch of a Saudi-American entertainment summit to be held on Wednesday in Los Angeles under the title ‘Future of Entertainment.’ The summit is in line with Saudi Vision 2030, which includes plans for the kingdom to make a huge leap into the entertainment sector. The event will host a number of ministers and heads of entertainment giants in Saudi Arabia and the United States. The summit aims to showcase the ...

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