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Saudi Arabia’s Ministry of Energy, Industry and Mineral Resources confirmed that the Kingdom is on track to implement several renewable energy mega projects worth billions of dollars in line with the goals of Vision 2030.   The projects, which plans to generate 200 megawatts of electricity from solar energy by 2030 is working in collaboration […]

Saudi Arabia’s Public Investment Fund (PIF) has announced the names more than 100 global investors, business minds and innovators who will speak at the second edition of Future Investment Initiative (FII) taking place in Riyadh from October 23rd-25th, 2018.   The immersive three-day event will focus on three core subjects- Investing in Transformation, Technology as […]

Saudi Arabia’s General Sports Authority (GSA) on Sunday revealed the details of its new electronic visa programme, known as Sharek, which will offer a seamless ticket purchase and online visa application process for sporting fans from around the world wanting to experience the biggest festival of racing, live music and entertainment.   The official website, […]

As the country celebrated its 88th National day, Saudi Arabia announced 10 major projects and investments worth more than SR685 billion to boost the country’s economy.   These projects, which aims at diversifying the Kingdom’s income, tackling environmental issues and increasing investment and prosperity, indicate the Kingdom’s revolutionary vision under the leadership of King Salman […]

Saudi Arabia on Tuesday announced the launch of a new online visa process allowing fans from across the globe to attend their favourite sporting or musical events in the Kingdom.   The new visa programme, known as ‘Sharek’ was announced during the launch of Ad Diriyah E-Prix as part of Saudi Arabia’s Vision 2030 which […]

The Ministry of Hajj and Umrah announced that pilgrims can now visit any city in the Kingdom with their 30-day Umrah visa.   Abdul Fattah Mashat, Deputy Haj and Umrah Minister, said that the new rule, which will be subject to certain rules and regulations will come into effect this year.   Pilgrims interested in […]

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) said in a statement that it secured its first international loan worth $11bn, marking the first step in its strategic, medium-term debt funding programme.   PIF, which is currently managing assets worth around $230 billion, said that it would use the loan for “general corporate […]

The EY Barometer, an annual survey of growth strategies among entrepreneurs and middle-market leaders, found that Saudi-based businesses are more optimistic about revenue growth and business opportunities in the Kingdom in 2018 than last year.   The survey revealed that 33 percent of middle-market businesses in Saudi Arabia foresee a growth of more than 10 […]

The Ministry of Finance on Monday dismissed rumours regarding imposition of fees on expatriate remittance, according to reports from the Saudi Press Agency. The statement was issued in response to several “baseless and unfounded” reports circulating through the media.   The ministry emphasised that free movement of capital through official channels in accordance with international […]

Custodian of the Two Holy Mosques King Salman was presented with the 54th annual report of the Saudi Arabian Monetary Authority (SAMA) on Wednesday in the presence of Minister of Finance Al-Jadaan, SAMA Governer Dr.Ahmed Al-Khulaifi and the governor’s deputies during a reception at Al-Salam Palace.   The report, which examines the economic and financial […]