Business & Money | Tuesday 9 June, 2020 1:29 pm

Amaala’s Triple Bay Earthworks Underway With Saudi Real Estate Infrastructure Company, Binyah

AMAALA, the ultra-luxury destination located along Saudi Arabia’s northwestern coast, appointed Binyah, a Saudi Real Estate Infrastructure Company, to carry out the excavation, backfilling, and earthworks required to achieve the formation levels and grading of Phase I of the Triple Bay...

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Business & Money | Tuesday 9 June, 2020 10:37 am

Samba launches instant credit card issuance service online

As part of its commitment to serve customer needs faster and more conveniently through its 24-hour electronic banking channels, Samba Financial Group recently launched an instant credit card issuance service through SambaMobile and SambaOnline. For the first time, the new service allows Samba...

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Business & Money | Tuesday 9 June, 2020 9:48 am

The Red Sea Development Company Announces Medical Services Contract Award

The Red Sea Development Company (TRSDC), the developer behind one of the world’s most ambitious tourism projects, has awarded a contract for the provision of medical services during the initial construction phase of the project. The contract was awarded following a competitive tendering...

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Environment & Energy | Tuesday 9 June, 2020 9:22 am

Saudi Arabia urges OPEC+ members to fulfill oil production cut commitments

Saudi Energy Minister Prince Abdul Aziz bin Salman on Monday stressed the Kingdom’s determination to rebalance global oil markets in the wake of the successful weekend meeting of members of the OPEC+ alliance. “First and foremost, our purpose is to ensure the stability of the markets,”...

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Business & Money | Tuesday 9 June, 2020 6:06 am

Framework Working Group Advances the G20 Action Plan

The G20 Framework Working Group (FWG) met virtually on June 8, 2020 to advance the G20 Action Plan – Supporting the Global Economy through the COVID-19 Pandemic –. The Action Plan was endorsed by the G20 Finance Ministers and Central Bank Governors during their meeting on April 15, 2020.The FWG ...

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Business & Money | Monday 8 June, 2020 1:28 pm

Lockheed Martin Partners with TAQNIA to Build New Satellite Ground System for Kingdom of Saudi Arabia

Following the successful launch and operation of Saudi Arabia’s newest commercial communications satellite, SaudiGeoSat-1 (SGS-1), Lockheed Martin (NYSE: LMT) has been selected to develop a new ground system to control, manage and operate the satellite. The Saudi Technology Development and...

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Business & Money | Monday 8 June, 2020 11:11 am

Saudi Arabia records $20.09bln trade surplus in Q1 2020

By Staff Writer, Mubasher Riyadh –   Saudi Arabia’s trade balance surplus reached SAR 73.74 billion during the first quarter (Q1) of 2020, declining by 38.3% year-on-year (YoY) from SAR 119.54 billion in Q1-19. On a quarterly basis, the trade surplus decreased by 32.5%, up...

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Government | Monday 8 June, 2020 3:50 am

Prince Abdulaziz bin Saud Inaugurates Maidan Application

Prince Abdulaziz bin Saud bin Naif bin Abdulaziz, Minister of Interior, inaugurated here today, via a virtual network, the "Maidan" application which was developed in technical partnership among the Public Security, the General Directorate of Narcotics Control and the National Information Center;...

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Business & Money | Sunday 7 June, 2020 9:14 am

G20 contributes over $21bn to fight COVID-19

The Group of 20 (G20) and emerging economies have contributed more than $21 billion to fight COVID-19 pandemic. And, with a spirit of solidarity, the group has shown that it will spare no effort to protect lives and the most vulnerable. A statement by the group after an extraordinary summit...

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Environment & Energy | Sunday 7 June, 2020 1:15 am

Oil coup for Saudi Arabia as output cuts are extended

Saudi Arabia pulled off a coup in the world of oil diplomacy on Saturday with an agreement to extend the historic output cuts credited with pulling energy markets out of chaos. At a virtual meeting of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC producersled by Russia, ...

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