June 14th, 2019 | 0 commentsSaudi Arabia reaffirmed its support for the initiative of the high representative for the UN Alliance of Civilizations (UNAOC), Miguel Moratinos, to safeguard religious sites. The Kingdom said that attacks on places of worship and the encroachment on these places is a terrorist act that requires to be addressed. This support was reaffirme...
June 14th, 2019 | 0 commentsSaudi Arabia on Thursday vowed to take “appropriate” action to confront and deter attacks by Houthi militias in Yemen. It came a day after 26 people, including women and children, were injured in a missile strike on the civilian Abha Airport in the south of the Kingdom, for which the Houthis claimed responsibility. “We will confront the H...
June 14th, 2019 | 0 commentsSaudi Arabia’s Deputy Minister of Defense slammed the Iranian regime for “spreading chaos” in the Middle East by backing terrorist organisations such as Yemen’s Houthi militia. “For 40 years, the Iranian regime has been spreading chaos, death and destruction, by sponsoring and financing terrorist organizations including the Houthis,” Prin...
June 14th, 2019 | 0 commentsSaudi Arabia's cybersecurity market will grow to $5.5 billion by 2023, with this year alone witnessing the rise of the market value to $3 billion as more investments are being made in the sector, a report said. The report titled “MEA Cybersecurity Market forecast to 2023” pointed out that enterprises operating in the Kingdom are adopting...
June 14th, 2019 | 0 commentsJazan Energy and Development Company (Jazadco) has signed a memorandum of understanding (MoU) with Jabal Ohod Holding to study the acquisition of the company. The six-month deal has no relates parties and is not expected to have any financial impact, according to a filing to the Saudi Stock Exchange (Tadawul) on Thursday. Jazadco will det...
June 14th, 2019 | 0 commentsThe Saudi Stock Exchange (Tadawul) opened Thursday’s trading session with negative performance. By 10:38 am KSA time, the main Tadawul All-Share Index (TASI) fell 1.07%, or 97.09 points, to 8,987.66 points. TASI’s traded volume reached 31.52 million shares exchanged at a turnover of SAR 724.07 million through 23,600 transactions. The medi...
June 14th, 2019 | 0 commentsSaudi Arabia's Ministry of Transport has signed 110 contracts valued at SAR 4.3 billion for the operation, maintenance and cleaning of roads throughout the Kingdom during the period between 2019 and 2022, Arab News reported. “The contracts cater to the needs of each region. They were awarded to various Saudi companies, and are intended to...
June 14th, 2019 | 0 commentsThe Saudi Arabian Monetary Authority (SAMA) allowed banks to extend the working hours of those branches where pilgrims gather near the two Holy Mosques during Hajj season 2019. The decision will come into force starting from 18/11/1440 H until 14/12/1440 H, according to SAMA’s statement on Thursday. The new instructions came in line with...
June 14th, 2019 | 0 commentsNayifat Finance Company posted 1.12% year-on-year growth in its revenues during the first quarter of 2019. Total revenues of Saudi Arabia’s leading non-bank financial institution hit SAR 84.9 million in Q1-19, according to the company’s statement on Thursday.The company’s net income recorded SAR 46.64 million during the first three months...
June 14th, 2019 | 0 commentsSaudi Arabia is set to begin implementing a selective tax on soft drinks in December 2019, according to a recent statement by the General Authority for Zakat and Tax (GAZT). In May, the authority approved amendments to existing regulations, including a 100% tax on tobacco and its by-products. It also imposed a 100% tax on energy drinks, a...
