Government | Tuesday 10 October, 2017 6:26 am

Public Investment Fund Launches 'Fund of Funds'

The Public Investment Fund (PIF) has announced the establishment of the Fund of Funds, a new investment vehicle designed to provide small and medium-sized enterprises (SMEs) with access to capital by investing in venture capital and private equity funds targeting the SME sector. The Fund of Funds...

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Government | Monday 9 October, 2017 4:11 am

King Salman arrives in Riyadh after a fruitful 4-day Russia state visit

King Salman returned to Riyadh on Sunday after a four-day historic state visit to Russia, which had seen Saudi-Russian ties reaching new heights. The king arrived at the King Salman Airbase in Riyadh on Sunday night and was welcomed by key officials and dignitaries, including Prince Muqrin bin...

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Government | Saturday 7 October, 2017 4:26 am

MOU for scientific, geological cooperation signed

A Memorandum of Understanding (MOU) was signed Friday between the Geological Survey of Saudi Arabia and the Russian Geological Corporation aiming to develop cooperation between the two countries in the scientific and geological field on the basis of equality and mutual benefit, Saudi Press Agency...

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Government | Saturday 7 October, 2017 2:00 am

KSA-Russia ties set for wider horizons

Custodian of the Two Holy Mosques King Salman held wide ranging talks with Russian Prime Minister Dmitry Medvedev in Moscow on Friday. Speaking on the occasion, King Salman and Medvedev reiterated that their countries are determined to push their bilateral relations to much wider...

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Government | Friday 6 October, 2017 4:16 am

Makkah-Madinah high speed rail just months away from becoming operational

Field work on the Haramain Express Train, which connects the holy cities of Makkah and Madinah, is done and the entire project will be fully completed before the yearend, the Makkah Region Development Authority (MRDA) has said. In a statement reported by Al-Hayat newspaper on Thursday, the...

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Government | Friday 6 October, 2017 4:05 am

King, Putin oversee signing of landmark agreements

Saudi Arabia and Russia on Thursday signed several agreements, memoranda of understanding (MoU), and cooperation programs. The signing ceremony was held at Kremlin Palace in the presence of Custodian of the Two Holy Mosques King Salman and Russian President Vladimir Putin. Also, Putin held a...

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Government | Thursday 5 October, 2017 7:26 am

Saudi Citizens Account program expanded to include students and 24-year-olds at home

The Saudi Citizens Account program has announced that 24-year-olds still living at home will be able to hold their own account, independent of their parents – according to Sabq. The cash transfer scheme, which was set up to protect Saudi families from the impact – both direct and...

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Government | Thursday 5 October, 2017 2:59 am

A turning point in Saudi-Russian relations

King Salman arrived in Moscow on Wednesday for a historic and unprecedented state visit to Russia, the first by a Saudi monarch in almost a century of diplomatic ties. The king was greeted at Vnukovo airport by senior Russian officials and a military brass band. He will have talks with the Russian ...

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Government | Thursday 5 October, 2017 2:00 am

Crown Prince donates SR16 million to Qassim charities

Crown Prince Muhammad Bin Salman, deputy premier and minister of defense, has donated SR16 million from his own account to charitable societies in Qassim region. This was within the Project of Prince Muhammad Bin Salman to support charitable societies in all regions of the Kingdom. The money...

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Government | Wednesday 4 October, 2017 6:35 am

Saudi Arabia establishes national development fund, names new ministers

Saudi Arabia announced it is set to create a new national fund in a Royal Decree early on Wednesday, the Saudi Press Agency reported. The Kingdom will establish the new ‘National Development Fund’ which will serve as an umbrella fund for existing social, industrial and agricultural ...

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