Saudi Cabinet approves contracting regulations for firms without regional HQ in Kingdom
The Saudi Cabinet, chaired by Crown Prince Mohammed bin Salman, approved crucial regulations impacting government contracts with companies lacking regional headquarters in the Kingdom. This session, held on a Tuesday, also included briefings on recent international discussions aimed at bolstering cooperation and advancing global initiatives. The Cabinet reviewed the situation in Palestinian territories, expressing gratitude […]
Crown Prince to open annual Shoura Council session on Wednesday
On behalf of Custodian of the Two Holy Mosques King Salman, Crown Prince and Prime Minister Mohammed bin Salman will deliver on Wednesday the King’s annual speech, marking the opening of the activities of the fourth year of the 8 the session of the Saudi Shoura Council. This was announced by the Shoura Council Speaker […]
Saudi foreign trade surges 7% to SR178 billion, recording a surplus for 38th month in a row
The General Authority for Statistics (GASTAT) announced on Tuesday that Saudi trade balance achieved a surplus for the 38th month in a row. The volume of foreign trade in October 2023 recorded an increase of seven percent, reaching SR178 billion, compared to SR167 billion in September last year. The authority stated that the Kingdom’s overall […]
Commerce Minister meets regional chamber heads to set 2024 priorities
Minister of Commerce Dr. Majid Al Qasabi met with the heads of commercial chambers from all regions of the Kingdom to discuss their priorities for the year 2024, based on the competitive advantages of each region. During a workshop organized by the Ministry, Al Qasabi emphasized the importance of synergy between the trade ecosystem and […]
Saudi Arabia, Japan seek stable global oil markets, energy supply
Saudi Arabia and Japan underlined the need to support stable global oil markets and secure stable global energy supply by promoting dialogue between oil producers and consumers. This was stated by Saudi Energy Minister Prince Abdulaziz bin Salman and Japan’s Minister of Economy, Trade and Industry Ken Saito during the 2nd KSA-Japan Energy Dialogue in Riyadh on […]
Saudi Arabia welcomes UN envoy’s statement regarding road map for peace in Yemen
Saudi Arabia welcomed on Sunday the statement, issued by the Special Envoy of the United Nations Secretary General for Yemen, with regard to reaching a road map to support the peace path in the country. In a statement, the Saudi Ministry of Foreign Affairs reiterated the Kingdom’s continued support for Yemen and its people. The ministry […]
Mudad: All services of employer will be stopped in the event of three-month salary delay
The Ministry of Human Resources and Social Development (MHRSD) revealed that all the services of the employer will be stopped and the employee will be allowed to transfer service to another employer without his consent in the event of the delay in disbursing salaries for three consecutive months. This penalty will be enforced even if the […]
Saudi Arabia, South Korea sign MoU to combat cross-border crimes related to corruption
President of the Saudi Oversight and Anti-Corruption Authority (Nazaha) Mazin Al-Kahmous and South Korea’s Prosecutor General Lee One-seok signed a memorandum of understanding (MoU) for cooperation in combating cross-border crimes related to corruption, in a ceremony held in Riyadh on Sunday. The MoU also aims to develop and strengthen institutional capacity of both sides in […]
LuLu spotlights journey to 100 stores milestone at Saudi Retail Forum
The rapidly growing LuLu Saudi Hypermarkets group reiterated its ambitious growth strategy at the Saudi Retail Forum, winning two prestigious awards too. Shehim Mohammed, director of LuLu Saudi Hypermarkets, emphasized the statement of Yusuffali M.A., group’s chairman and managing director, that the group will be targeting an expansion to 100 stores over the coming year. […]
Aljabr Trading Company becomes the first partner of SAR in transporting vehicles via trains
In a move that reflects Aljabr Trading Company’s strategy of building exceptional partnerships to enhance the quality of services provided to its customers, as well as its positive response and utilization of the immense national projects resulting from Vision 2030, the company recently signed a strategic partnership agreement with the Saudi Arabia Railways (SAR). This […]