Government | Wednesday 25 October, 2017 6:18 am

$500bn special zone unveiled

Crown Prince Muhammad Bin Salman, deputy premier, minister of defense and chairman of the Public Investment Fund (PIF), announced on Tuesday a $500 billion plan to create the world’s first independent special zone stretching over three countries.   The 26,500 square km (10,230...

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Business & Money | Wednesday 25 October, 2017 6:16 am

Robots to roam $500 billion Saudi city

Crown Prince Mohammed bin Salman on Tuesday unveiled ambitious plans for a new city state that would also straddle Jordan and Egypt in the kingdom’s northwest with up to $500bn in investments. Called Neom, the city will be powered by solar and wind energy, and is likely to have more...

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Business & Money | Wednesday 25 October, 2017 5:34 am

Noon invests in building a new era of Saudi youth entrepreneurship

With Noon, the new digital marketplace with the largest assortment of products set to roll out in Saudi Arabia before the end of this year, the Kingdom will witness a new era in youth entrepreneurship, said Mohamed Alabbar, the founder of Noon. He was addressing a media briefing with Faraz Khalid,...

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Business & Money | Tuesday 24 October, 2017 1:34 pm

Saudi Crown Prince launches NEOM, a ‘$500bn investment in the future’

Saudi Crown Prince Mohammed bin Salman announced the launch of NEOM on Tuesday, a project that aspires to be the “safest, most efficient, most future oriented, and best place to live and work” in the kingdom.   NEOM’s land mass will extend across the Egyptian and...

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Business & Money | Tuesday 24 October, 2017 4:07 am

Crown Prince will open investment summit Today

Crown Prince Muhammad Bin Salman, deputy premier and minister of defense, will inaugurate the landmark Future Investment Initiative (FII) in Riyadh on Tuesday. The investment conference, which will be held under the aegis of Custodian of the Two Holy Mosques King Salman, will be attended by...

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Government | Tuesday 24 October, 2017 1:46 am

Work visa validity reduced to one year

The validity of employment visas issued by the Ministry of Labor and Social Development (MLSD) for the private sector firms has been reduced from two years to one year. But this will not be applicable to visas issued for government services as well as for domestic workers, according to an...

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Business & Money | Tuesday 24 October, 2017 12:05 am

Aramco IPO on track for 2nd half of 2018: CEO

Saudi Aramco’s initial public offering will take place in the second half of 2018, CEO Amin Nasser said Monday, dismissing reports that the oil giant’s plans could be shelved. “We have always said that we will be listing in 2018, and to be more specific, in the second half of ...

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Tourism & Hospitality | Monday 23 October, 2017 6:43 am

Jeddah airport ready to serve 10m Umrah pilgrims

King Abdulaziz International Airport (KAIA) in Jeddah has completed all arrival and departure arrangements for more than 10 million Umrah pilgrims during the season which began on Saturday and will continue until Shawwal 18, 1439H (July 2, 2018). The airport’s accommodation capacity is...

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Business & Money | Monday 23 October, 2017 6:00 am

40 Saudis undergo training in preparation for jobs at Riyadh Metro

Forty young Saudi men have entered the Saudi Technical Institute for Railways to undergo specialized training in railway operations and maintenance. Chairman of the Public Transport Authority (PTA), Rumaih Al-Rumaih, said: “The training is in preparation for them to work at the Riyadh...

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Business & Money | Monday 23 October, 2017 3:49 am

NCB’s Net Income reached SAR 7,246 million for the nine months of 2017

The National Commercial Bank announces that net income for the nine months of 2017 reached SAR 7,246 million compared to SAR 7,030 million for the same period of the previous year, an increase of 3.1%. NCB’s net profit for the third quarter reached SAR 2,126 million compared to SAR 1,962...

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