Wednesday, April 14

Business

Public Investment Fund Reaches Major Milestone in Landmark Solar PV Project

Business
Riyadh, The Public Investment Fund (PIF) announced today a major milestone in its renewable energy program with the launch of the Sudair Solar PV plant in Sudair Industrial City, with a PIF-backed consortium signing a power purchase agreement with the Saudi Power Procurement Company for 25 years, which represents an important step within the renewable energy program that is being implemented under the umbrella of the National Renewable Energy Program. The announcement came during the inauguration ceremony of the Sakaka solar PV plant under the patronage of HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister, Chairman of the Supreme Committee for Energy Mix Affairs for Electricity Production and Enabling Renewable Energy Sector. The ceremony was attend...

Al-Jadaan, Al-Mubarak Participate in G20 Finance Ministers and Central Bank Governors Meeting

Business
Riyadh, Minister of Finance and Acting Minister of Economy and Planning, Mohammed Al-Jadaan, and Governor of the Saudi Central Bank, Dr. Fahd Al-Mubarak participated virtually in the second G20 Finance Ministers and Central Bank Governors’ (FMCBG) meeting under the Italian Presidency. The meeting brought together Finance Ministers and Central Bank Governors from G20 countries and invited countries, as well as heads of international and regional organizations. The meeting fostered in-depth discussions on the global economic development, the progress made on proposed policy responses for the economic recovery phase in light of the unprecedented COVID-19 pandemic, and ways to strengthen international cooperation between G20 countries for the return to a strong, sustainable, balanced and incl...

Saudi Arabia ranks second world-wide in Consumer Confidence Index for March 2021, reports

Business
Riyadh, The Kingdom of Saudi Arabia ranked second world-wide in the Consumer Confidence Index for March 2021, which measures the current and future status of 23 global markets, it was reported here today. According to the report, Saudi Arabia scored 61.4 points in the Ipsos consumer confidence index, i. e "15.7 points higher than the global average of 45.7 points," coming after China, which topped the list for months, and ahead of the world's major markets of Sweden, India, Australia, the United States of America, Germany, Britain, Canada, Belgium, France. The survey measures four basic indicators: trends in the local economy, investment environment in the country, personal financial capabilities of consumers, and general job security. The index result reflects the high confidence of th...

Executive President of Jazan City for Primary and Downstream Industries Meets with Danish Ambassador to Saudi Arabia

Business
Jizan, The Executive President of Jazan City for Primary and Downstream Industries Eng. Abdulhadi Al-Jahanni met here today with the Ambassador of the Kingdom of Denmark to the Kingdom of Saudi Arabia Ole E. Moesby and the accompanying delegation, currently on a visit to the region. During the meeting, the economic constituents and investment opportunities at avail, at Jazan City for Primary and Downstream Industries were reviewed, besides its strategic site and its contribution to the industrial development, job creation and diversification of the income sources, in accordance with the Kingdom Vision 2030.   Source: Saudi Press Agency

Saudi Arabia and Japan Strengthen Cooperation to Accelerate Growth of Digital Economy and Take Advantage of Fourth Industrial Revolution’s Opportunities

Business
Riyadh, Minister of Communications and Information Technology Eng. Abdullah Al-Swaha received here today the newly-appointed Japanese Ambassador to the Kingdom of Saudi Arabia Fumio Iwai. During the meeting, they discussed the digital bilateral relations between the Kingdom of Saudi Arabia and Japan as well as ways to enhance joint cooperation in a number of technical and digital fields, foremost of which is accelerating the growth of the digital economy and taking advantage of the opportunities of the Fourth Industrial Revolution, in a manner that serves the economic and social development goals of both countries.   Source: Saudi Press Agency

Patriarch Yonan calls for removing economic sanctions on Syrian people

Business
Beirut, Syriac Catholic Patriarch of Antioch, Mar Ignatius Joseph III Yonan, called for lifting the unfair economic sanctions imposed on the Syrian people. “The decision-makers at international arena and all those of good-will should exert efforts to remove the unjust sanctions imposed on the Syrian people whose suffering intensifies day after day,” Patriarch Yonan said Easter message, describing the ten-year terrorist war on Syria as a “terrible catastrophe.” He added “We pray efforts exerted would end the conflicts and rebuild Syria with virtue of its sons to contribute together to restoring stability and prosperity to their homeland.”   Source: Syrian Arab News Agency