NEWS

The Ministry of Labor and Social Development has announced a four-day holiday for private sector employees for both Eid Al-Fitr and Eid Al-Adha festivals through its official Twitter account. According to the Umm Al-Qura calendar, Ramadan 29 will be the last working day before the commencement of Eid Al-Fitr holidays while Eid Al-Adha holiday will commence on Dhul Hijjah […]

Saudi Arabia announced plans to offer special “event” visas to foreign travelers for attending sporting events, concerts and business attractions as the oil-dependent country is taking steps to diversify its economy and become a major global tourism destination. Saudi embassies and consulates will be able to issue visas within 4 hours of receiving a request, the Saudi Cabinet […]

The Saudi Arabian Monetary Agency (SAMA) has announced that it is developing an integrated payment environment to link traders, customers and service providers to complete payments through the same platform regardless of service provider. Ahmed Alkholifey, the Governor of SAMA, said that SAMA is focusing on reducing the dependence on cash circulation through continuous development […]

Saudi Arabia is undertaking several measures to push reforms to boost its private sector. An investment workshop titled “The key reforms that serve investors” hosted in Dammam by the Eastern Province Chamber highlighted the improvements to existing procedures and the new initiatives that are helping to cut bureaucracy and make it easier to do business […]

On the sidelines of the first official state visit of Saudi Crown Prince Muhammed Bin Salman to Pakistan, the Royal Embassy of Saudi Arabia in Islamabad announced that Saudi Arabia has reduced visit visa fees for Pakistanis substantially with effect from February 15, 2019.   Under the revised plan, visit visa fee for single entry has been […]

Custodian of the Two Holy Mosques King Salman launched 1,281 ambitious projects worth SR82 billion in Riyadh city and its surrounding governorates at a ceremony held at Qasr Al-Hakam in Riyadh on Wednesday. Crown Prince Muhammed Bin Salman, deputy premier and minister of defense Prince Sultan Bin Salman, chairman of the board of the Saudi Space Authority, and Prince […]

Saudi Arabia’s Crown Prince Muhammed bin Salman launched a number of mega tourism projects in Al-Ula which will attract over two million visitors, contribute SR10 billion to the Kingdom’s GDP growth,and create at least 38,000 jobs by 2035. Crown Prince and the governor of the Royal Commission for Al-Ula (RCU), Prince Badr bin Abdullah bin […]

The Saudi government has allocated 11.5 billion riyals to reimburse a number of companies who struggled to pay steadily increasing expatriate fees in 2017 and 2018 and waive fee hikes for few companies who were not able to pay. The labor minister Ahmed bin Suleiman Al-Rajhi noted that private companies that maintained a higher or […]

Saudi Arabia witnessed the launch of the National Industrial and Logistics Program (NIDLP), the most ambitious initiative under the Kingdom’s Vision 2030 reform plan on Monday in the presence of Crown Prince Muhammed bin Salman. During the launch event at Riyadh’s Ritz Carlton hotel, 37 agreements worth SR235 billion were signed across four key economic sectors […]

The central banks of Saudi Arabia and the UAE has announced more details about the launch of a common digital currency ,named ‘Aber’, between the two countries.   The new currency will be used for financial settlements between Saudi Arabia and UAE through Blockchains and Distributed Ledger technologies and is expected to lower remittance costs […]