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Tag Archives: Saudi Arabia

Saudi Arabia plans up to $11 bln investments in water sector in 2018

The largest desalinated water investment will be in Jubail 3 Image used for illustrative purpose. A worker stands at a desalination plant, 35 lm south of Riyadh, May 4, 2011. By Nada Al Rifai, ZAWYA Saudi Arabia is attracting investments worth $11 billion into large-scale water projects across several regions of the kingdom, primarily in water desalination, a Saudi official …

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Work on $3bln Saudi Arabia’s New Taif energy project begins

TAIF – A major solar energy plant will be established in the techno valley of this summer resort as part of the SR11 billion New Taif project. The King Abdulaziz City of Science and Technology (KACST) has started building 600 bases for the plant. The energy project includes establishment of solar panels on the bases and construction of management and security …

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Oman signs $210mln Saudi financing for key industrial project

Deal could help to ease concern about the health of Oman’s finances. Image used for illustrative purpose. A bank employee counts one hundred dollar notes at a bank in Seoul February 26, 2009. Image used for illustrative purpose. A bank employee counts one hundred dollar notes at a bank in Seoul February 26, 2009. Oman’s government has signed to obtain …

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Why do UAE and Saudi Arabia want to use blockchain?

Last week, the UAE’s central bank announced it was working on a joint cryptocurrency, based on blockchain, with its counterpart in Saudi Arabia Since beginning its dramatic rise in value over a year ago, many commentators have pronounced bitcoin dead, saying instead that the true value of the polarising digital currency was to be found in its underlying technology, blockchain. …

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Saudi Arabia, GCC to be connected by ultra-fast tube transportation system

The entire Gulf region will be connected through an ultra-fast tube transportation system, which will operate at a velocity of 1,100 km per hour. Founder of US-based Virgin Hyperloop One, Josh Giegel spoke to Arab News on Thursday soon after he signed an agreement with the MiSK Foundation for an ultra-fast tube transportation system and to train Saudi youths on …

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Saudi Arabia reform push targets wealth fund doubling assets

Saudi Arabia presented ambitious plans for economic and social renewal before a host of A-list global investors on Wednesday, saying its main sovereign wealth fund wants to increase its financial clout to 1.5 trillion riyals ($400 billion) by 2020. The Public Investment Fund (PIF) announced the assets-under-management goal at a conference showcasing a programme to turn the strictly conservative country …

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Smartphone users buzzing after Saudi Arabia unblocks Internet calls

Saudi smartphone users were calling out with joy this week after the government lifted a ban on apps that allow video and voice services. Minister of Communications and Information Technology Abdullah Al-Swaha earlier this month issued a directive to unblock calling apps that have met regulatory requirements, with users able to access them from Wednesday. The move will make the …

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Saudi Arabia, UAE salary increases highest in GCC

Saudi Arabia, followed by Kuwait and the UAE continue to lead the region in salary increases in 2017, according to a new survey. The GCC-wide survey of 600 multi-national companies and locally-owned conglomerates by Aon, also showed that Saudi Arabia and Kuwait have the highest salary increase projections for 2018, at an optimistic 4.5 per cent. The data showed that, …

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Saudi Arabia issues rules for small-scale solar energy generation

Saudi Arabia has issued a regulatory framework for electricity consumers to operate their own, small-scale solar power generating systems and export unused power to the national grid, the government said on Monday. The rules will come into force next July 1 and cover small photovoltaic facilities with generating capacity of no more than 2 megawatts, the Electricity and Cogeneration Regulatory …

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IMF: Saudi Arabia’s ‘bold’ reforms see non-oil sector pick up

  Saudi Arabia’s “bold reform program” is paying off, with economic growth in its non-oil sector forecast to pick up this year, the International Monetary Fund (IMF) said Friday. Growth in non-oil parts of the economy is projected at 1.7 percent in 2017 compared to 0.2 percent last year, the fund said, amid the Kingdom’s efforts to diversify the economy …

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