By Innovation-sa on August 13, 2018 in News

Saudi Arabia’s budget deficit fell by 84 percent to 7.4 billion riyals in the second quarter of 2018, according to figures from the Ministry of Finance. During the second quarter, revenues increased by more than two thirds to reach SR273.588 billion, indicating an improvement in economic activity. In contrast to the previous year, oil revenues surged by 82 percent to reach SR184.165 billion, which…

By Innovation-sa on August 13, 2018 in News

The Saudi Electricity Company (SEC) announced plans to launch the Tayseer program to residential subscribers whose monthly bills range from SR300 to SR3,000, in a move to provide customers with easier payment options. This year, the program will cover the period from July to December and provide subscribers with the option to pay average monthly consumption charges before settling their final bill at the…

By Innovation-sa on August 6, 2018 in News

The Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP) named Steve Wozniak, co-founder of Apple, as the ambassador of “Saudi Tech Hub”. Saud Bin Abdulla Al-Qahtani, the head of the federation and an advisor to the Royal Court, said that the appointment of Wozniak reflects the federation’s desire to work with the best minds in the sector to help the Kingdom become the region’s…

By Innovation-sa on August 6, 2018 in News

Saudi Arabia’s Ministry of Finance signed financing agreements to fund 17 health, education and hospitality projects in the Kingdom with loans amounting to SR755.8 million. Through these agreements, the government plans to attract the private sector to participate in the comprehensive development of the country and invest more in service projects, in accordance with the objectives of Vision 2030, said Dr.Hamad bin Sulaiman Al-Bazai,…

By Innovation-sa on July 31, 2018 in News

The Council of Minister’s instructed the Ministry of Labor and Social Development (MLSD) and the Ministry of Housing not to issue or renew work permits of expatriates without a lease contract registered in the Ejar system from September onwards.   The ministries will organize awareness campaigns across the Kingdom to ensure that expatriates authenticate their residential rent contracts and register in the Ejar network…

By Innovation-sa on July 31, 2018 in News

The Finance Ministry’s Debt Management Office (DMO) has begun selling local currency government bonds through a new “primary dealer” programme which is designed to increase demand for the debt and widen the range of investors holding it.   The Ministry announced that the first edition of the Primary Dealers Program for Susuk distribution has taken place under the program, the Saudi Press Agency (SPA)…

By Innovation-sa on July 29, 2018 in News

The Ministry of Labor and Social Development (MLSD) revoked the decision to restrict profession change in iqamas of expatriate employees. From Muharram 1, employers can change job titles of employees’ subject to certain guidelines.   The Ministry’s official spokesman Khalid Aba Al-Khail informed that applications for profession change should be submitted online at the ministry’s web portal and requests will be accepted if they…

By Innovation-sa on July 29, 2018 in News

In line with the objectives of Vision 2030, Saudi Arabia’s Ministry of Justice announced plans to open full-fledged labor court in the Kingdom early next year.This will increase transparency of the labor market and thereby boost investment and drive the economy towards development.   The preparations for the labor court are on track with judges being trained, staff getting proper induction and court buildings…

By Innovation-sa on July 29, 2018 in News

In an e-Government survey conducted by the United Nations to assess the development of municipal portals in 40 pilot cities across the world, Saudi Arabia’s capital, Riyadh ranked 30th position. The survey is dedicated to transform cities to sustainable and resilient societies.   The survey report, published by the UN Department of Economic and Social Affairs after assessing 7 African cities, 6 American cities,…

By Innovation-sa on July 29, 2018 in News

As the countdown to Hajj begins, Saudi authorities intensified the ban on entry of unauthorized people to Makkah, which began earlier on July 9. The ban will be in force till the end of Hajj. Officials informed that more than 72,000 people and 30,449 vehicles were turned back from various entry points to the Holy city as of Friday.   Inspections are being carried…