JEDDAH: The first phase of Saudi Arabia’s e-invoicing project, Fatoorah, is set to be effective in less than three months, Arab News quoted Zakat, Tax and Customs Authority (ZATCA), as saying. The project is seen as having major benefits for the Saudi economy, including addressing commercial concealment and the “shadow economy,” which costs the Kingdom up to … Read more
RIYADH: Saudi Aramco is considering a bold move to open up one of the world’s largest unconventional gas fields to foreign investors, Arab News reported. The state-owned company is looking to fund a $110 billion project at the site to help it diversify from oil sales. Aramco is working with an adviser as it explores options for … Read more
RIYADH: With thousands of industry professionals attending, Saudi Arabia’s premier interior design and trade show Index Saudi offers a platform for buyers and sellers to engage in business-to-business networking, Arab News reported. Running from Tuesday to Thursday at the Riyadh Front Exhibition & Conference Center, the show gives participants the chance to discuss market needs … Read more
DUBAI: British industrial software company Aveva is setting up its “largest digital hub” in Saudi Arabia, following its initial agreement with Aramco, Arab News reported. The hub will have research and development capabilities, the company said in a statement, and will support its operations across the Middle East. London-listed Aveva has signed a memorandum of … Read more
RIYADH: After more than a decade in courts, Saudi conglomerate Ahmad Hamad Algosaibi and Brothers (AHAB) reached a settlement with 95 percent of its creditors to close down the largest family debt case in the history of Saudi Arabia. The group now has finally settled the claims on the debt that totaled SR28 billion, Simon … Read more
RIYADH: Saudi Aramco Namaat programme will enhance sustainability through industrial investments and supply chains, and will enhance sustainability in digital industries, through deals worth SR90 billion ($23.9 billion), Arab News quoted CEO Amin Nasser, as saying, in an interview. The value of the 22 memorandums of understanding signed by Aramco and a project agreement within … Read more
RIYADH: The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz of Saudi Arabia, has dismissed the director of public security, Khalid bin Qarar Al-Harbi, ordering his investigation on corruption charges, the state media reported on Wednesday. “Khaled al-Harbi’s service has been terminated by referring him to retirement and to an investigation,” the official … Read more
DUBAI: Saudi Aramco announced plans to expand Namaat, its industrial investment programme, signing multiple deals with the global companies to build capacity in critical sectors, Arab News reported. The Saudi-listed company said it signed 22 new memoranda of understanding (MoUs) and a joint venture agreement, all focusing on sustainability, technology, industrial and energy services, and … Read more
RIYADH: Saudi Arabia’s national airline announced on Wednesday it would allow only those passengers who have received two doses of coronavirus vaccine to travel on its domestic flights. The implementation of a two-dose vaccine condition starts today (September 1). However, children under the age of 12 years would be exempt from this rule. According to … Read more
JEDDAH: The Saudi National Event Center of the Saudi Tourism Authority and the General Entertainment Authority organised an excellent event on “Pakistan Night” in Jeddah. Pakistan’s Federal Minister for Information and Broadcasting Fawad Chaudhry in a video message mentioned the love and long-lasting strong ties between the Custodian of the Two Holy Mosques King Salman … Read more
JEDDAH: More women employees are joining workplaces and boardrooms in Saudi Arabia, with gender equality a key target of a regional drive to improve environmental, social and governance (ESG) standards, Arab News reported. While measurable progress has been achieved in recent years, there is a room for further improvement to consolidate these changes into a … Read more
RIYADH: The Arab coalition said on Friday that Saudi air defenses have intercepted an explosive-laden drone launched by Yemen’s Houthi militia towards Khamis Mushait, AlEkhbariya reported. The militia regularly employs drones to target the Kingdom, as per Arab News. The coalition said the drone was targeting the south-western city of Khamis Mushait and continues its … Read more
President Dr Arif Alvi on Friday said Pakistan attaches utmost significance to its relations with the Kingdom of Saudi Arabia, which are based on common faith and mutual respect. He stated that both brotherly countries had longstanding and deep-rooted fraternal relations, which needed to be further strengthened for the mutual benefit of the two countries. … Read more
Saudi Arabia’s ‘Vision 2030’ program has released real estate and infrastructure projects worth $1 trillion in the Kingdom. The vision 2030 goals to diversify the country’s economy. Saudi Arabia’s ambitious Vision 2030 plan is setting out to commence substantial growth in many areas. Its main goal is to create a vibrant society, a flourishing economy, … Read more
RIYADH: The Saudi authorities have issued new guidelines regarding Covid-19 for travellers so that the country could prevent spread of coronavirus in Saudi Arabia. According to the guidelines, Saudi government allowed direct travel from Pakistan for those having a valid residency permit and left the kingdom after taking two doses of the Covid-19 vaccine from … Read more
RIYADH: Saudi Arabia announced on Wednesday that it will cooperate with Chinese firms over the digital transformation in the kingdom. During an event held in the Saudi capital of Riyadh, the kingdom announced the establishment of the Saudi-Chinese eWTP Arabia Capital Fund to support Saudi’s emerging technology companies. With a capital of 1.5 billion Saudi … Read more
RIYADH: Saudi Arabia has launched a couple of initiatives to enhance the kingdom’s global ranking in digital areas such as artificial intelligence, Arab News reported. The announcement was made at an event called Launch held on Wednesday and hosted by the Saudi Federation for Cyber-security, Programming and Drones (SAFCSP), as well as the Ministry of Communications and … Read more
RIYADH: Almost $1 trillion of real estate and infrastructure projects have been announced across Saudi Arabia since 2016, as the kingdom’s economy is transformed under Vision 2030, Arab News quoted an analysis carried out by the global property consultant Knight Frank. According to Faisal Durrani, Knight Frank’s head of Middle East research, “Saudi Arabia is a country … Read more
RIYADH: The non-oil exports of Saudi Arabia surged 40.5 per cent year-on-year in June 2021, rising to SR23.6 billion ($6.2 billion) from SR16.8 billion in June last year, Arab News quoted official data, as showing. Plastics and rubber and articles thereof jumped 68 per cent and products of the chemical or allied industries increased 49.2 … Read more
JEDDAH: Fintech Saudi was launched in 2018 by the Saudi central bank and the Capital Market Authority, to turn the kingdom into an innovative fintech hub, Arab News reported. It has a digital strategy that supports regulators and the growing fintech startups that have emerged in the kingdom over the last two years. These moves are in … Read more
Foreign Minister Shah Mehmood Qureshi on Monday underscored that a peaceful and stable Afghanistan was of critical importance for Pakistan and the region. In a telephonic conversation with his Saudi counterpart His Highness Prince Faisal bin Farhan Al Saud, Qureshi expressed the hope that Afghan parties would work for an inclusive political settlement to ensure … Read more
RIYADH: Saudi Arabia could not ship more crude oil in the first-half as it voluntarily restrained output under Opec+ production-cut agreement; however, high oil prices this year helped the kingdom to see stable income, Arab News reported. The kingdom’s crude oil exports averaged 5.776 million barrels per day (bpd) in the first-half of 2021 that is 19.8 … Read more
RIYADH: Saudi Arabia announced on Tuesday that it has extended the residence permits and visas for the stranded foreigners under the Saudi ban due to the Covid-19 pandemic to September 30. The foreigners with Saudi residence permits or visas are now prohibited from entering the kingdom if they are currently in the banned countries. To … Read more
In view of the evolving regional security situation, Saudi Chief of General Staff (CGS) has expressed ‘full support’ for Pakistan in efforts for peace in the region, while meeting Pakistan’s counterpart at the General Headquarters in Rawalpindi, according to an official statement issued on Monday. During the meeting, geo-strategic environment, security situation in Afghanistan and … Read more
JEDDAH: The Saudi Ministry of Tourism and the Saudi Entertainment Authority are jointly organising a Pakistan Night in Jeddah on August 27. Five thousand Pakistanis and their families are expected to attend the event. According to the details released by organisers of the Pakistan Night, there will be music gala, organized music, games for children, entertainment … Read more
RIYADH/MOSCOW: Inflation rate in Saudi Arabia decelerated in July from June on an annual basis, as the effects of the July 2020 tripling of the VAT rate no longer weigh on spending, Arab News reported. The consumer price index, a gauge used to detect the changes in prices, recorded a modest increase of 0.4 per … Read more
JEDDAH: Pakistan’s Independence Day was celebrated in Jeddah with traditional zeal and fervour. A simple and graceful flag-hoisting ceremony was held at the Pakistan Consulate General Jeddah. Consul General Khalid Majid, in his remarks, highlighted the significance of the day and underlined Pakistan’s regional and global importance by virtue of its history, geostrategic location, and … Read more
SAR: Today Gold Rate in Saudi Arabia (SAR) is Sar. 211.90 for 24k per gram. And Sar. 194.24 for 22 karat gold. Today live gold price in Saudi Arabia and different cities of Saudi Arabia. Gold Rate in Saudi Arabia (SAR) Check the latest rate of Gold price in Saudi Arabia (Saudi Riyal) (Updated, 13th August 2021). Location … Read more
