Government | Thursday 26 October, 2017 4:00 am

SoftBank books $3 billion in first 5 months of partnership with Saudi PIF

Masayoshi Son, the partner of Saudi Arabia’s Public Investment Fund, revealed that his Vision Fund has made a return of 22 percent in its first five months of operation and turned in a profit of $3 billion. Now he is ready to launch similar funds in the near future. Son, also founder...

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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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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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Government | Sunday 22 October, 2017 3:33 am

Baghdad trade fair strengthens Saudi-Iraqi economic ties

Saudi Arabia showcased its strong participation at the 44th Baghdad International Fair on Saturday. Saudi Energy Minister Khalid Al-Falih and Iraqi Trade Minister Salman Al-Jumaili were among prominent figures at the inauguration of the fair running from Oct. 21 to 30 in which 18 countries and ...

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Government | Sunday 22 October, 2017 2:58 am

60 Saudi firms participate in Baghdad trade fair

Under the title “We liberated our land and with your cooperation we will build it,” Iraqi Trade Minister, Salman Al-Jumaili, launched the 44th Baghdad International Fair running from 21-30 October with Saudi Minister of Energy, Industry and Mineral Resources, Khalid Al-Falih, attending. ...

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Government | Saturday 21 October, 2017 12:44 am

Crown Prince donates SR5m for Hail charities

Crown Prince Muhammad Bin Salman, deputy premier and minister of defense, has donated SR5 million from his own account to charitable societies in Hail region. This was in supplement to the support being provided to charitable societies within the Project of Prince Muhammad Bin Salman for...

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Government | Saturday 21 October, 2017 12:37 am

King promotes Public Prosecution members

Custodian of the Two Holy Mosques King Salman issued a royal decree on Friday to promote 13 members of the Bureau of Public Prosecution to the rank of appeal prosecutor, Saudi Press Agency reported.   Attorney General Sheikh Saud Bin Abdullah Al-Moajab said that the royal order comes...

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Government | Wednesday 18 October, 2017 7:01 am

King Salman Complex for Prophet’s Tradition to be set up in Madinah

Custodian of the Two Holy Mosques King Salman issued on Tuesday an order to set up a complex named after him for the Tradition of the Prophet (peace be upon him). The King Salman Complex for the Prophet’s Tradition will be based in Madinah, the Saudi Press Agency reported quoting the...

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Government | Tuesday 17 October, 2017 12:36 am

Saudi Recycling Company in the offing

The Public Investment Fund (PIF) is planning to establish the Saudi Recycling Company, a new waste management government enterprise, aiming to support and operate the PIF’s investments in domestic recycling sector projects, it was announced here on Monday. Aligned with the...

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Government | Wednesday 11 October, 2017 7:20 am

Madinah governor inaugurates anti-drugs youth forum

Madinah Gov. Prince Faisal bin Salman on Monday inaugurated a nine-day youth forum on narcotics control. The director general of drug control in the Kingdom, Maj. Gen. Ahmad Saadi Al-Zahrani, and representatives from government and non-governmental religious, cultural and social bodies...

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