Business & Money | Sunday 27 December, 2015 11:54 am

Shoura seeks citizens’ views

The Shoura Council has sought suggestions from citizens ahead of its upcoming session.  Citizens can send their queries or proposals to Social Affairs Minister Majed Al-Qassabi via e-mail:webmaster@shura.gov.sa, or fax (0114413537) until Monday, the Shoura Council said. “The minister,...

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Business & Money | Sunday 27 December, 2015 4:01 am

NWC to reroute pipe intersecting with Riyadh Metro project, promises minimal impact

National Water Company is coordinating with local authorities to reroute the CF2 water pipeline in Riyadh as it intersects with ongoing construction work on the Riyadh Metro. The project, which will start on January 5, 2016, is expected to take 10 working days.   NWC said it has studied...

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Business & Money | Saturday 26 December, 2015 3:17 pm

SAMA licenses SR900m home finance company

Saudi Arabian Monetary Agency (SAMA) has granted a license to its national home finance company, Bidaya and it will launch with SR900 million ($239.94 million) in capital, the firm announced. SAMA’s decision joins efforts to boost home ownership in the Kingdom, where a shortage of affordable ...

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Business & Money | Saturday 26 December, 2015 12:33 pm

China Formally Establishes Asian Infrastructure Investment Bank

The Chinese-led Asian Infrastructure Investment Bank (AIIB) was formally established on Friday, and is expected to be operational by early next year, local media reported Friday. "The AIIB is legally established as the Articles of Agreement take effect today,"...

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Business & Money | Friday 25 December, 2015 5:51 am

KAEC inks SR27m contract for Logistics Park

KING Abdullah Economic City (KAEC) has signed a contract with Mikati Contracting Est. to build a unique Logistics Park located in Phase B1 of the Industrial Valley. The SR26.6 million facility, comprising prefabricated light-manufacturing and warehousing units, will be completed by the third...

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Business & Money | Friday 25 December, 2015 3:49 am

SR9 billion set aside for development projects

The government has allocated SR9 billion for several projects in four provinces in the western region, Makkah Gov. Prince Khaled Al-Faisal said here Wednesday.  The prince made this statement at the conclusion of his tour of four provinces — Qunfudah, Adhm, Laith and Artiyat — in...

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Government | Friday 25 December, 2015 2:48 am

Economic development council unveils transformation initiatives

As part of the Kingdom’s National Transformation Project, the Council of Economic and Development Affairs is currently working in coordination with government authorities to set in place a strategic implementation plan to increase national economic outputs and launch a series of economic...

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Tourism & Hospitality | Thursday 24 December, 2015 9:01 am

Madinah hotel costs shoot up

Hotel and transport costs have shot up as more people flock to Madinah to visit the Prophet’s Mosque. Due to the high demand, the hotels have increased their rates 10-fold or more, with prices as high as SR35,000 for three nights or SR100,000 for five days. Mohammed Ali booked two hotel...

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Government | Thursday 24 December, 2015 8:58 am

King’s development plans welcomed

Several Saudi officials, ministers and academics have praised Custodian of the Two Holy Mosques King Salman for outlining key policy plans during his address to the Shoura Council on Wednesday, which they said would boost the country's economy and improve services for citizens. Minister of...

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Government | Thursday 24 December, 2015 12:03 am

Full Text of King’s Speech

The following is the full text of the address of Custodian of the Two Holy Mosques King Salman while opening the activities of the 4th year of the 6th session of the Shoura Council on Wednesday: In the name of Allah, the Most Gracious, the Most Compassionate, Praise be to Allah, and prayer and...

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