Month: October 2021

Worth more than 33 billion riyals. National Debt Management Center completes the Kingdom's second early repurchase

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Reading time: < 1 MinuteThe Kingdom, represented by the Ministry of Finance (the Issuer), announced the completion of an early redemption of a portion of the Issuer’s existing bonds and sukuk maturing in August, September, October, November, and December of next year (2022), with a total value exceeding 33 billion riyals, in addition to the issuance of new sukuk under the Saudi Riyal Sukuk Issuance Program. This operation is one of the initiatives of the National Center for Debt Management, which aims to … Read more

Foreign investment in the Kingdom rose to $40 billion in the first quarter

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Khalid Al-Mudayfer - Foreign Investment

Reading time: 2 MinutesKhalid Al-Mudayfer, Deputy Minister of Industry and Mineral Resources for Mining Affairs, revealed that foreign investment in the Kingdom increased by approximately $40 billion in the first quarter of 2021, emphasizing that foreign direct investment is a key driver of economic growth, as it contributes to job creation. He made these remarks during his speech at the second session of the fifth edition of the Future Investment Initiative, … Read more

“Real Estate Authority” refers more than 5500 violators of real estate advertising regulations to the competent authorities

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3500 illegal real estate ads

Reading time: < 1 MinuteThe General Real Estate Authority has referred the first real estate violation to the competent authorities for enforcement, due to several violations, including the forgery of a self-employment document. The Authority stated in a press release today that the number of non-compliant advertisements seized since the implementation of the real estate advertising regulations issued on 12/10/1442 AH has reached 5,560 non-compliant real estate advertisements, as part of the Authority’s efforts to regulate real estate activity … Read more

Central Bank Governor: The payment system enhances the stability and oversight of the financial sector

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Saudi Central Bank

Reading time: < 1 MinuteThe system includes dispute resolution procedures His Excellency Dr. Fahad bin Abdullah Al-Mubarak, Governor of the Saudi Central Bank, confirmed that the Payments and Payment Services System, which was recently approved by the Council of Ministers, aims to enhance the safety and efficiency of the infrastructure for payment systems and services in the Kingdom by updating regulatory and supervisory frameworks, thereby strengthening the resilience and stability of the financial sector, noting that this … Read more

“GITEX Global 2021” Showcases Rasen’s Expertise in Insurance and Financial Technologies

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Rasan Company - Mohammed Al-Falah

Reading time: 2 MinutesRasan—the Saudi company specializing in insurance and financial technology—concluded its active participation in “GITEX Global 2021,” which took place from October 17 to 20 at the Dubai World Trade Centre. The company’s participation aimed to contribute to fostering innovation and creating value in the insurance and finance sectors by showcasing its innovative solutions (SME10X). Benefits of … Read more

Riyadh Chamber begins receiving requests to correct commercial concealment

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Riyadh Chamber - Launching Commercial Covertness

Reading time: < 1 MinuteThe Riyadh Chamber has begun accepting applications for rectification from violators who fall under the category of front companies, through a dedicated office at the Customer Service Center on King Abdullah Road, The Chamber urged violators who remain subject to violations requiring statutory penalties to promptly visit the customer service center to rectify their status, or to do so via the Ministry of Commerce’s official website, mc.gov.sa. This comes … Read more

Riyadh chosen as regional headquarters for 44 global companies A confirmation of the Kingdom's position as the region's largest economy

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Reading time: 3 MinutesForty-four global companies received licenses for their regional headquarters to operate in the Kingdom of Saudi Arabia on Wednesday, as part of the program to attract regional headquarters of global companies overseen by the Ministry of Investment and the Royal Commission for Riyadh City. The regional headquarters licenses were presented to representatives of the global companies on the sidelines of a panel discussion dedicated to the program, attended by Minister of Investment Khalid Al-Falih, … Read more

“The Eastern Province Secretariat Announces 153 New Investment Opportunities for Businessmen

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Eastern Region

Reading time: < 1 MinuteThe Eastern Province Secretariat has invited investors and entrepreneurs to compete for 153 new investment opportunities across various cities and governorates in the Eastern Province. These opportunities are part of the Secretariat’s objectives to stimulate economic activity and support investors and entrepreneurs, in collaboration with various government and private sectors, to achieve financial sustainability and spending efficiency. On this occasion, Engineer Hamdan bin … Read more

“Enfor” is offering 39 real estate investment opportunities in 6 public auctions

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Real estate auctions

Reading time: < 1 MinuteThe “Enforcement” has completed preparations to hold six public auctions for various properties in several regions across the Kingdom, starting Tuesday, October 26, through Sunday, October 31. The auctions will feature 39 real estate investment opportunities covering more than 217,000 square meters. The series begins with the ”Dana Specialized Auction,” featuring six real estate opportunities consisting of commercial and residential land, buildings, and a warehouse in … Read more

Riyadh's acting emir directs the establishment of a joint operations room comprising 11 government agencies to address the situation in the capital's central neighborhoods

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Reading time: < 1 MinuteHis Royal Highness Prince Mohammed bin Abdulrahman bin Abdulaziz, Acting Governor of the Riyadh Region, has directed the establishment of a joint operations room and the launch of an intensive field campaign starting today, with the participation of 11 government agencies, to address the situation in neighborhoods in the center of the capital within the municipalities of Al-Bat'ha, Al-Shumaisi, and Al-Malaz, with the aim of finding urgent solutions to the spread of illegal labor. Participating in the operations room and the intensive field campaign that … Read more

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