By Innovation-sa on January 24, 2019 in News

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 paid equally with men.   Work spaces must include private…

By Innovation-sa on January 24, 2019 in News

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 gross domestic product (GDP) by 2020 and generation of…

By Innovation-sa on January 22, 2019 in News

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 maintain their stability and improve performance.   Under this…

By Innovation-sa on January 17, 2019 in News

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, and innovation centers.   NEOM Bay is expected to…

By Innovation-sa on January 17, 2019 in News

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 license has been minimized to 2.5 hours and that…

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 the new initiative is taking into consideration the practical…

By 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 flights have been analysed from all airports across the…

By 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 by the oil sector which expanded by 3.7 percent from…

By Rohit Kulkarni 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 revenues, and lesser deficit. (more…)

By Rohit Kulkarni 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 Red Sea project is a massive one and probably…