Environment & Energy | Thursday 1 December, 2016 10:37 am

OPEC production deal sends oil prices, shares higher

The oil price surged on Wednesday and global shares climbed after the Organization of the Petroleum Exporting Countries (OPEC) reached a deal to cut production, according to dpa. The world oil benchmark Brent jumped about 8 per cent to breach the key 50-dollars-a-barrel mark for the...

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Business & Money | Thursday 1 December, 2016 10:32 am

Bosphorus Summit identifies Vision 2030’s strong points

The 7th Bosphorus Summit in Istanbul held a special session on the Kingdom of Saudi Arabia’s Vision 2030 and Turkey’s Vision 2023 in the presence of Saudi Minister of Commerce and Investment Majid Al-Qassabi.  Al-Qassabi headed the Saudi delegation to the summit. During the...

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Business & Money | Thursday 1 December, 2016 9:46 am

King allocates SR100b from reserves to PIF

Custodian of the Two Holy Mosques King Salman on Wednesday approved the allocation of SR100 billion ($26.67 billion) from the Kingdom’s reserves to the Public Investment Fund (PIF), according to a statement carried by Saudi Press Agency. The funds will be used to support both foreign and...

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Business & Money | Wednesday 30 November, 2016 5:04 am

King Abdulaziz Center for Culture to be inaugurated on Thursday

Energy, Industry and Mineral Resources Minister Khalid Al-Falih said the inauguration ceremony of Saudi Aramco projects and the King Abdulaziz Center for World Culture (Ithra) would be on Thursday in the presence of Custodian of the Two Holy Mosques King Salman. The inauguration of the Saudi...

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Business & Money | Wednesday 30 November, 2016 3:10 am

King Salman inaugurates mega projects in Ras Al-Khair, Jubail

 Custodian of the Two Holy Mosques King Salman inaugurated Tuesday a group of basic infrastructure and development projects in Jubail and Ras Al-Khair industrial cities on the Gulf coast.  The inauguration ceremonies were attended by Eastern Province Gov. Prince Saud bin Naif and a...

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Business & Money | Wednesday 30 November, 2016 2:05 am

King opens 242 projects worth SR216 billion in Jubail

 Custodian of the Two Holy Mosques King Salman inaugurated 242 industrial and development projects worth SR216 billion for the Royal Commission for Jubail and Yanbu, Saudi Aramco, Saudi Arabian Basic Industries Corporation (SABIC) and the private sector here on Tuesday. The King also laid the ...

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Business & Money | Tuesday 29 November, 2016 4:42 pm

King Salman to open a number of Ras Al-Khair projects today

Custodian of the Two Holy Mosques King Salman will launch on Tuesday a number of infrastructure, development and mining projects in the Ras Al-Khair Industrial City in the Eastern Province.  The launch of these projects will be yet another step in the Kingdom's march to progress. It...

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Government | Tuesday 29 November, 2016 5:46 am

Several development projects in EP opened

Custodian of the Two Holy Mosques King Salman on Monday opened several development projects, including hospitals in the Eastern Province. The launching ceremony was held in Aziziyah Palace in Al-Khobar, the Saudi Press Agency reported. King Salman watched a video presentation about the projects ...

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Business & Money | Tuesday 29 November, 2016 3:44 am

Saudi Aramco Cultural Center opening on Thursday

Energy, Industry and Mineral Resources Minister Khalid Al-Falih said the inauguration ceremony of Saudi Aramco projects and the King Abdulaziz Center for World Culture (Ithra) would be on Thursday in the presence of Custodian of the Two Holy Mosques King Salman. The opening of the Saudi Aramco...

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Cars & Autos | Tuesday 29 November, 2016 2:31 am

Nissan Dominates Winners Podium at Rally Jeddah 2016

Nissan’s participation in this year’s Rally Jeddah began with dominating the provisional entry lists. This strong presence continued throughout the competition, with results that reflected the brand’s dominance in the motorsports scene.  The two-day race which takes place...

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