By Innovation-sa on January 13, 2019 in News
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 […]
Read moreBy Innovation-sa on January 7, 2019 in News
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 […]
Read moreBy Innovation-sa on January 7, 2019 in News
The Saudi Arabian economy recorded it’s fastest growth since early 2016 during the third quarter of 2018. The country’s Gross Domestic Product (GDP) grew 2.5 percent from a year earlier to SR 653.7 billion, accelerating from the second quarter’s GDP growth of 1.6 percent. The rise in GDP is attributed to a strong performance […]
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By Iain Wingham on January 6, 2019 in Blog
Modern Business is complicated and complex. In order to succeed, businesses have to not only ensure that the product they are providing is commercially viable, but also that it is unique as well as interesting. But that alone does not guarantee success. Cost cutting and business process efficiency is another aspect that helps in running […]
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By Iain Wingham on January 3, 2019 in News
There is no denying the fact that Saudi Arabia is the largest and most powerful oil exporter of the world which provides a strong sense of secure financial insurance to the country. The officials with the help of the finance department has been trying hard to improve private and government branches with greater spending, profitable […]
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By Iain Wingham on January 3, 2019 in Blog
A vision is the first step towards leading the entire planning and decision-making towards a successful path. It is a gateway to a number of solutions for the economic chaos in the country including reduced oil prices. The fact that a massive percentage of Saudi Arabia’s economy is dependent on the oil revenues had made […]
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By Iain Wingham on January 3, 2019 in News
Vision 2030 is no surprise to anyone as the news has been trending ever since the Red Sea project became an important and ultimate source of reformed economy. While the official ministers, analysts, and expert panel are busy leading the project with utmost excellence, the project has started to make news already. The fact that […]
Read moreBy Innovation-sa on January 2, 2019 in News
Saudi Arabia is committed to settle all outstanding payments owed to private sector companies by the Saudi government as soon as possible, announced Kingdom’s economy and planning minister Mohammed Al-Tuwaijri. A major setback faced by the Saudi government following fall in oil prices since mid-2014 led them to cut-down several projects and delay payments to […]
Read moreBy Innovation-sa on January 2, 2019 in News
Saudi Arabia’s biggest lender by assets, the National Commercial Bank (NCB), started preliminary merger talks with smaller rival Riyad Bank, eyeing a deal that would create an entity with $182 billion in assets. The deal comes two months after the first major tie-up of the country’s banking sector in recent times between Saudi British Bank (SABB) and Alawwal […]
Read moreBy Innovation-sa on November 25, 2018 in News
According to the latest amendment made by the Council of Ministers to the Labor Law and the System of Labor Courts, disputes that are more than twelve months old after the termination of the contract between the employee and the employer will not be accepted by labor courts. The Kingdom’s newly established labor courts […]
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