Category: Economy

Russia, Saudi Arabia At Odds Over Output Deal Ahead Of OPEC+ Meeting – RIA Cites Source

February 22, 2021

Saudi Arabia and Russia have difference over a potential deal among OPEC+ oil producers that could ease curbs on supply starting in April, a source told RIA news week. The Organization of the  Petroleum Exporting Countries and its allies, a group known as OPEC+, are likely to ease curbs on supply after April given a … More Russia, Saudi Arabia At Odds Over Output Deal Ahead Of OPEC+ Meeting – RIA Cites Source

BREAKING NEWS | Investments In Saudi Arabia’s Economy Will Reach Six Trillion Dollars: Crown Prince

January 14, 2021

AL ULA – – Saudi Arabia’s Crown Prince Mohammed bin Salman says major investment opportunities in Saudi Arabia will amount to six trillion dollars over the next ten years, including 3 trillion dollars in investments in new projects, within the framework of the opportunities provided by Vision 2030, reported Saudi Press Agency. Saudi Arabia’s Crown … More BREAKING NEWS | Investments In Saudi Arabia’s Economy Will Reach Six Trillion Dollars: Crown Prince

ECONOMY | Saudi Sovereign Wealth Fund Hires New Corporate Finance Head, Makes Other Changes

December 22, 2020

RIYADH – – Saudi Arabia’s sovereign wealth fund has hired Fahad al – Saif, the chief executive of the finance  ministry’s debt management centre, as its new corporate finance head. He replaces Alireza Zaimi, who will become a special advisor to the fund’s  governor Yasir al – Rumayyan, the Public Investment FUND (PIF) said in … More ECONOMY | Saudi Sovereign Wealth Fund Hires New Corporate Finance Head, Makes Other Changes

BREAKING NEWS | Saudi Crown Prince: We Will Continue To Grow In Various Fields

December 16, 2020

NEOM – – Saudi Arabia’s Crown Prince Mohammed bin Salman bin Abdulaziz, Deputy Prime Minister, Minister of Defense and Chairman of the Council of Economic and Development Affairs, affirmed that the Kingdom will continue to consolidate the gains made since the approval of the Vision 2030, and stressed its keenness to move towards further development … More BREAKING NEWS | Saudi Crown Prince: We Will Continue To Grow In Various Fields

BREAKING NEWS | Saudi Crown Prince: Kingdom’s Economy Proves Ability To Face COVID-19 Repercussions

December 16, 2020

RIYADH – – Saudi Arabia’s economy has proven its ability to face the repercussions of the coronavirus pandemic, Crown Prince Mohammed bin Salman said following the announcement of the Kingdom’s budget for 2021. ‘Financial and economic measures have been taken at reducing the repercussions of the pandemic on economic activities. The crisis was managed with … More BREAKING NEWS | Saudi Crown Prince: Kingdom’s Economy Proves Ability To Face COVID-19 Repercussions

ECONOMY | Saudi Arabia Could Review VAT Hike After Pandemic Ends, Says Minister

November 20, 2020

Saudi Arabia’s acting information minister on Thursday said the kingdom could review its VAT increase after the novel coronavirus pandemic ends, a move which may spur economic recovery after the tax increase boosted inflammation. Saudi Arabia tripled value – added tax to 15 percent in July to offset the impact of lower oil revenue on … More ECONOMY | Saudi Arabia Could Review VAT Hike After Pandemic Ends, Says Minister

ECONOMY | Saudi Arabia Will Raise Minimum Wage For Citizens To 4,000 Riyals ($1,066)

November 19, 2020

Saudi Arabia will raise the minimum wage for its citizens from 3,000 riyals ($800) to 4,000 riyals ($1,066), a 33 percent increase, the Kingdom’s Ministry of Human Resources and Social Development announced on Wednesday. The move will come into effect five months from Wednesday, the ministry added without specifying a specific date. If a Saudi … More ECONOMY | Saudi Arabia Will Raise Minimum Wage For Citizens To 4,000 Riyals ($1,066)

ECONOMY | Saudi Arabia Aims To Be Largest Hydrogen Supplier In Move To Curb Climate Change

November 19, 2020

The world’s biggest oil exporter has set its sights on also becoming the largest supplier of hydrogen, a fuel seen as pivotal for curbing climate change. Saudi Arabia has ‘ambitious plans and ‘will not be challenged in its record of being the biggest exporter of hydrogen on earth, Energy Minister Prince Abdulaziz bin Salman said … More ECONOMY | Saudi Arabia Aims To Be Largest Hydrogen Supplier In Move To Curb Climate Change

BREAKING NEWS | Mohammed Bin Salman: Saudi Arabia Has Made Unprecedented Achievements In Short Period Of Time

November 13, 2020

Saudi Crown Prince Mohammed bin Salman said on Thursday that the Kingdom has been able to make unprecedented achievements in a short period of time. He expressed optimism that growth will accelerate after the coronavirus pandemic comes to an end. In a speech carried by Saudi State News Agency (SPA), the Crown Prince said that … More BREAKING NEWS | Mohammed Bin Salman: Saudi Arabia Has Made Unprecedented Achievements In Short Period Of Time

ECONOMY | Saudi Arabia To Import 860,000 Tons Of Wheat

November 10, 2020

RIYADH | SAUDI ARABIA – – The Saudi Grains Organization (SAGO) has completed procedures to import the fifth and the last batch of wheat for 2020 from the Black Sea countries, EU, Australia and the North and South America except Canada. The tender comprising 860,000 tons of wheat will reach the Kingdom between February and … More ECONOMY | Saudi Arabia To Import 860,000 Tons Of Wheat