Government | Monday 26 December, 2016 10:25 am

Budget boosts Saudi stocks

Saudi Arabia’s stock market rose sharply on Sunday in response to the release of the 2017 state budget, which includes an increase in government spending, while other major Gulf bourses were sluggish and Egypt retreated on profit-taking. The Tadawul All-Share Index (TASI) added 1.5 percent...

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Government | Sunday 25 December, 2016 4:22 am

Makkah governor exhorts officials to serve citizens

Makkah Gov. Prince Khaled Al-Faisal said that the main goal of the province and its governorates is to serve citizens and residents, and to solve problems they face, as well as to follow up on development projects that contribute to the uplift of the region. Prince Khaled was speaking while...

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Government | Saturday 24 December, 2016 12:50 pm

Dubai’s non-oil foreign trade at AED 952 billion in first nine months of 2016

Dubai saw a 11 per cent surge in the total volume of traded goods in the first nine months of 2016, rising as high as 70.82 million tons of commodities. Imports had the lion’s share at AED 594 billion (46.81 million tons and 12% increase), while exports and re-exports accounted for AED 109...

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Government | Friday 23 December, 2016 4:15 am

Economy strong enough to tackle all challenges: King

CUSTODIAN of the Two Holy Mosques King Salman on Thursday underlined the need for ensuring implementation of the general budget very carefully in a way achieving comprehensive and balanced development and improve the services being extended to the citizens. The King made the remarks in his...

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Government | Thursday 22 December, 2016 4:16 pm

Saudi budget 2017: Deficit forecast to drop to SR 198 billion

Saudi Arabia’s deficit is projected to decline by a third next year, according to a budget statement that is seen as a step toward eliminating the shortfall altogether by 2020. The deficit for 2016 stands at SR 297 billion, around 9 percent lower than forecast, and far below the high of SR...

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Government | Saturday 17 December, 2016 3:47 am

Ministers, economists and Shoura members commend king’s speech

Government leaders and economists said Thursday that the speech of Custodian of the Two Holy Mosques King Salman at the Shoura Council a day earlier provided a “road map” to the achievements of the Kingdom’s domestic and foreign affairs. Education Minister Ahmed Al-Isa described...

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Government | Wednesday 14 December, 2016 6:00 am

Saudi Arabia launches new banknotes

New Saudi banknotes and coins to commemorate the era of Custodian of the Two Holy Mosques King Salman were officially launched here Tuesday night. Livestreaming of the launch of the new currency by the Riyadh-based Saudi Arabian Monetary Authority (SAMA) marked the formal release of the sixth...

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Government | Tuesday 13 December, 2016 1:00 am

New designs of Saudi banknotes and coins to be released today

The Saudi Arabian Monetary Agency (SAMA) will release on Tuesday evening new designs of Saudi banknotes and coins, SAMA announced on its website. The 6th issue of banknotes and coins for the era of Custodian of the Two Holy Mosques King Salman will have the motto, “Trust and...

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Government | Sunday 11 December, 2016 3:44 pm

King, crown prince receive British foreign secretary

British Foreign Secretary Boris Johnson met with Custodian of the Two Holy Mosques King Salman and Crown Prince Mohammed bin Naif in Riyadh on Sunday to discuss ways of strengthening cooperation between Saudi Arabia and Britain. King Salman received Johnson at his office in Al-Yamamah Palace and...

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Government | Sunday 11 December, 2016 12:27 am

King thanks Kuwait Emir, says visit cemented ties

Custodian of the Two Holy Mosques King Salman sent a cable of thanks and appreciation to Kuwait’s Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah following his three-day visit to Kuwait. In his cable, the King said, “We express our best thanks and appreciation for the warm reception and ...

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