Month: February 2016

Sharqiya Chamber, represented by the Housing and Development Committee, adopts 2016 strategy

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Reading time: < 1 MinuteThe Eastern Chamber, represented by its Housing and Urban Development Committee, adopted a strategy for 2016 based on its vision to be the primary supporter of advancing urban development in the region. Committee Chairman Radan bin Sa’aq al-Duwaisch explained this during a committee meeting at the Chamber’s headquarters, noting that the committee’s mission emphasizes its commitment to overcoming the obstacles faced by investors and beneficiaries in the sector… Read more

Armed Forces Equipment Spare Parts Exhibition opens, more than 40,000 investment opportunities await

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Reading time: 3 Minutes  Under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, the largest industrial event in the Middle East was launched after the Ministry of Defense inaugurated the Armed Forces Exhibition to Support the Localization of Spare Parts Manufacturing (“AFID”), at the Riyadh International Convention and Exhibition Center. The opening ceremony was attended by Assistant Minister of Defense Lieutenant General Mohammed Al-Aish, who affirmed that the Deputy Crown Prince … Read more

Signing agreements to establish 5 companies to manufacture multi-purpose aircraft and satellites

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Reading time: < 1 MinuteOn the sidelines of the Armed Forces Exhibition to Support the Localization of Spare Parts Manufacturing (“AFED”), which kicked off yesterday, Sunday, at the Riyadh International Convention and Exhibition Center, a number of subsidiaries of the Saudi Technology Development and Investment Company (“Taqnia”) signed signed five agreements with international companies, with the aim of establishing Saudi-foreign joint ventures specializing in the transfer and localization of advanced technologies and industries in the fields of military aircraft, satellites, … Read more

Ministry of Housing: Balancing supply and demand in the housing market is our most important goal

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Reading time: 2 MinutesThe Ministry of Housing announced its efforts to implement a series of short- and long-term strategic programs and plans to support the Kingdom’s housing sector and develop its tools, and to boost activity in terms of sales, purchases, and development at affordable prices that are within the means of all segments of society. In a press release, the Ministry stated that its policies provide citizens with a variety of options that are consistent in terms of design and execution quality … Read more

Chairman of the National Industrial Committee calls for supporting industry and separating it from the Ministry of Commerce

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Reading time: < 1 Minute  Engineer Saad bin Ibrahim Al-Maajil, Chairman of the National Industrial Committee at the Council of Chambers, Board Member, and Chairman of the Industrial Committee at the Riyadh Chamber of Commerce, called for the separation of the industrial sector from the Ministry of Commerce once again, pointing to the gains reaped by the industrial revolution from the establishment of factories and a significant expansion of the Kingdom’s electricity infrastructure across its various regions when the two ministries were separated, and highlighting a number of achievements that … Read more

Saudi banks allocate SAR 747 million to finance women's projects in 2015

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Reading time: < 1 MinuteThe Small and Medium-Sized Enterprise (SME) Financing Guarantee Program for Women Entrepreneurs in the Kingdom has provided approximately 859 guarantees, totaling 365 million riyals, since the program’s launch through the end of last year, while the total value of financing provided by participating banks reached approximately 747 million riyals. Engineer Osama bin Abdulrahman Al-Mubarak, Director General of the SME Financing Guarantee Program for Women Entrepreneurs, revealed that the program has guaranteed financing for women … Read more

In third place... 616 billion dollars total foreign exchange reserves at the end of 2015

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Reading time: 2 MinutesAccording to statistics and press releases, total foreign exchange reserves at the end of 2015 amounted to approximately $616.4 billion (2,311.5 billion Saudi riyals) This ranks third globally, with reserves consisting of gold, Special Drawing Rights (SDRs), reserves held with the International Monetary Fund (IMF), foreign currency and deposits abroad, and investments in foreign securities. This marked a decline … Read more

Prince Mohammed bin Salman inaugurates AFED to support localization of spare parts industry

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Reading time: < 1 MinuteUnder the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Deputy Crown Prince, Second Deputy Prime Minister, and Minister of Defense, will inaugurate today, Sunday, the Armed Forces Exhibition (AFED) to support the localization of the spare parts industry. The exhibition will take place next month during the month of Jumada al-Awwal and will last for seven days, at the Riyadh International Convention and Exhibition Center … Read more

Riyadh Chamber celebrates Saudi industry leaders on Tuesday and discusses sector issues with them

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Reading time: < 1 MinuteUnder the patronage of His Excellency Dr. Tawfiq bin Fawzan Al-Rabiah, Minister of Commerce and Industry, the Riyadh Chamber of Commerce and Industry will honor national industry pioneers tomorrow, Tuesday, in recognition of their contributions and efforts to advance economic development in the Kingdom and strengthen the pillars of the national economy. On this occasion, Engineer Saad Al-Maajil, Board Member and Chairman of the Riyadh Industrial Committee, said that the Riyadh Chamber’s honoring of industry leaders … Read more

“Saudi Fransi presents its various financing solutions at Restatex Jeddah”

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Reading time: < 1 MinuteAs part of its efforts to support the Kingdom’s real estate sector and to underscore the important role it plays in meeting citizens“ diverse real estate needs through mortgage financing products, Banque Saudi Fransi participated in the Jeddah Real Estate, Housing, and Development Exhibition (”Restatex Jeddah”), which recently concluded. The bank presented a variety of real estate financing solutions that enable its customers to own a home or … Read more

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