Blog

The Saudi government has allocated 11.5 billion riyals to reimburse a number of companies who struggled to pay steadily increasing expatriate fees in 2017 and 2018 and waive fee hikes for few companies who were not able to pay. The labor minister Ahmed bin Suleiman Al-Rajhi noted that private companies that maintained a higher or […]

Saudi Arabia witnessed the launch of the National Industrial and Logistics Program (NIDLP), the most ambitious initiative under the Kingdom’s Vision 2030 reform plan on Monday in the presence of Crown Prince Muhammed bin Salman. During the launch event at Riyadh’s Ritz Carlton hotel, 37 agreements worth SR235 billion were signed across four key economic sectors […]

The central banks of Saudi Arabia and the UAE has announced more details about the launch of a common digital currency ,named ‘Aber’, between the two countries.   The new currency will be used for financial settlements between Saudi Arabia and UAE through Blockchains and Distributed Ledger technologies and is expected to lower remittance costs […]

The Ministry of Labor and Social Development (MLSD) has announced new guidelines to ensure comfortable work atmosphere for women with the aim of boosting employment among Saudi women. The directives issued by the labor ministry stipulates that employers must create a suitable environment for women to carry out their responsibilities and ensure that women are […]

A report published by the US-Saudi Arabian Business Council (USSABC) that highlights new economic trends and opportunities in Saudi Arabia noted that the Saudi defense sector will experience strong growth in the next decade.   The report, titled “Defense, Security and Aerospace”, anticipates a contribution of SR231.27 billion by the defense sector to the Kingdom’s […]

Saudi Arabia’s Ministry of Labor and Social Development (MLSD) has launched a program to issue compensatory visas to deal with the dearth of qualified Saudi workforce in certain rare professions and specializations. According to reports from officials, private companies falling in the platinum and high green domains can take advantage of this new initiative to […]

Saudi Arabia will start building the first urban area of the proposed $500 billion mega-city NEOM along the north-western coast of the Kingdom soon, officials announced on Wednesday. Crown Prince Mohammed bin Salman, the chairman of the NEOM founding board, approved the master-plan concept for NEOM Bay which includes luxurious homes,high-end hotels, lifestyle and tourist facilities, […]

A report published by Saudi Arabian General Investments Authority (SAGIA) on its accomplishments in 2018 noted a 99 percent increase in the number of licensed investments and a 100 percent increase in the number of investment expansion requests in the Kingdom last year. The report also highlighted that the time required for issuance of a new […]

Saudi Arabia’s Ministry of Labor and Social Development (MLSD) announced on Tuesday a new initiative to extend validity of work visas for expatriates to two years instead of one without any additional fees. The extension of time will be applicable to new as well as old visas.   The Ministry said in a statement that […]

Dammam’s King Fahad International Airport has been awarded 2nd rank in the list of world’s best medium airports. According to reports from Official Airports Guide (OAG), an airport and airline assessment specialist, the award has been awarded to the world’s best medium airports that met departure and arrival schedules accurately in 2018.   Over 58 million […]