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The Saudi domestic banks, which are working to capitalize on economic reforms, have cumulatively reported a 7.5 percent year-on-year growth and an 18 percent quarter-on-quarter increase in net profit for the first quarter of 2018, despite slight recessionary trends, said a report published by Moody’s Investors Service on Wednesday. According to Moody’s, interest expenses in […]

The high-speed Haramain Express train connecting the holy cities of Makkah and Madinah will roll out this September with four trains per week, in the beginning, followed by daily services by September 2019, the Spanish consortium building the project announced on Thursday. The 300kph high-speed intercity rail transport system linking Madinah and Makkah via King […]

Saudi Arabia’s Directorate General of Traffic has called on women with foreign licenses to have them replaced with a Saudi license. The official Twitter account of the Directorate tweeted: “We invite all citizens and residents of the Kingdom who wish to replace their valid driving licenses which they have obtained from other countries with a […]

Saudi Arabia’s General Culture Authority (GCA) announced various programs and initiatives to aid Saudi filmmakers, film industry and film production in the Kingdom as well as to support non-Saudi filmmakers interested in filming in Saudi Arabia. Faisal Baltuyoor, CEO of Saudi Films Council, said that the Council would focus mainly on developing skills and technical […]

The Governor of Qassim, Prince Faisal bin Mishaal, launched transportation projects worth more than SR800 million in Saudi Arabia’s Qassim region in the presence of Transport Minister Nabeel Al-Amudi. Prince Faisal took his time to thank Al-Amudi and praise the people of Qassim and the Transport Ministry for their remarkable efforts. The noteworthy project will […]

Saudi Arabia has finalized the transfer of ownership of the Kingdom’s $10 billion King Abdullah Financial District in the capital city to the finance ministry and the Public Investment Fund (PIF). “It is a transfer (of ownership), not a transaction. The Ministry of Finance will take legal ownership and PIF will have the operating rights,” […]

The Council of Economic and Development Affairs (CEDA), unveiled the $34.6 billion Quality of Life Program 2020, an initiative to promote entertainment, health, sports, education and other activities that contribute to the quality of life, job creation, as well as to encourage investment opportunities and diversification of economic activities, while raising the status of Saudi […]

Saudi Arabia’s Public Transport Authority (PTA) published regulations for licensed female cab operators while providing transportation services to families, according to reports from Al-Madina newspaper. Female chauffeurs providing family transportation services must be a Saudi national with a legal driving license and free from criminal records and any contagious disease. The female cab drivers of […]

Custodian of the Two Holy Mosques King Salman officially launched Qiddiya on Saturday in a glittering ceremony in the presence of Crown Prince Muhammed bin Salman, Deputy Prime Minister, Minister of Defence, and Chairman of the Public Investment Fund, as well as several princes, ministers and a distinguished audience of 300 dignitaries from around the […]

The emir of Makkah and advisor to the Custodian of the Two Holy Mosques, Prince Khaled Al-Faisal, issued a ministerial decree that Saudi citizens, both men, and women, employed in the private sector in all governorates across the province must wear traditional Saudi attire at workplaces. He also assigned the Ministry of Labor and Social […]