Saudi king orders $19 bn stimulus for private sector
More than $2.6 billion will be used to support projects
Riyadh - Al Maghrib Today
Saudi King Salman on Thursday issued a decree allocating 72 billion riyals ($19.2 billion) of stimulus funds to support the Saudi private sector.
The package aims to boost the role of the private sector in light of economic reforms to diversify the Saudi economy away from oil following a slump in crude prices.
The funds will be used to finance 16 initiatives, the largest of which earmarks $5.7 billion to provide subsidised housing loans to citizens, according to the official news agency SPA.
The decree states that $1.33 billion will be used as a first instalment for the newly established exports promotion fund which will eventually have capital of $8 billion.
More than $2.6 billion will be used to support projects and $3.7 billion will be allocated to support construction technology, the decree said.
The remaining funds will be spent on a string of smaller projects carried out by the private sector with the aim of strengthening the competitiveness of the Saudi economy.
Source:AFP
- Wednesday ,29 August GMT 17:16 2018 CGEM Head Calls for Better Training to Support Youth Integration
GMT 14:29 2018 Friday ,31 August
Salvini probe dossier sent to PalermoGMT 14:22 2018 Friday ,31 August
Scholz plays down Italy-EU tensionsGMT 11:48 2018 Friday ,31 August
Situation on maritime and land borders is stableGMT 18:27 2018 Thursday ,30 August
Veteran UK Labour MP quits over anti-Semitism rowGMT 18:22 2018 Thursday ,30 August
France's Macron proposes EU collective defence planGMT 17:16 2018 Wednesday ,29 August
CGEM Head Calls for Better Training to Support Youth IntegrationGMT 16:32 2018 Wednesday ,29 August
HM the King Appoints New Walis and Governors at TerritorialGMT 12:35 2018 Tuesday ,23 January
All according to Munro plan as New Zealand sinks Pakistan
Argentine peso starts to recover after two days of crashes
Buenos Aires - AFP
Argentina's peso began to recover on Friday as markets opened, making a tiny 0.68 percent gain after losing 20 percent of its value against the dollar over the previous twoTo partake in Beiteddine Festivals
Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
French renowned singer and supermodel, Carla Bruni, is expected to arrive this evening at Rafic Hariri International Airport in Beirut, accompanied by her husband, former French President Nicolas Sarkozy. BruniIn France
Microsoft to open 4 data centres
Paris - Al Maghrib Today
Microsoft is to open 4 data storage centers in France to meet strong customer demand for cloud computing, the head of the software giant's French operations told the Agence France-Presse onVAR in Champions League only from 2019-20 season
Moscow - AFP
UEFA are set to wait until next season before introducing Video Assistant Referees (VAR) in the Champions League, although they are still not ruling out having it in this season's final, president Aleksander Ceferin said on Friday. Ceferin has soFor $11.6 bn
Sanofi buys US haemophilia treatment firm
Paris - Al Maghrib Today
French pharmaceutical firm Sanofi said Monday it had reached an agreement to purchase US biotech company Bioverativ, which specialises in treatments for haemophilia and rare blood disorders, for $11.6 billion. Sanofi's chief executive Olivier Brandicourt said the acquisition "enhances itsParis show pays homage
To 'eternal style' of late Alaia
Paris - Al Maghrib Today
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opened Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led hisGMT 09:22 2018 Monday ,22 January
Skincare PR Performance Full Year 2017GMT 11:03 2018 Wednesday ,24 January
New hunt for flight MH370 gets under wayGMT 10:57 2017 Thursday ,21 December
Modern colorful bedroom renovationGMT 13:56 2018 Tuesday ,23 January
Puigdemont candidate for Catalan presidentGMT 10:47 2018 Wednesday ,24 January
Turkey detains dozens moreGMT 10:46 2018 Tuesday ,16 January
The Rake announces editorial updatesGMT 11:51 2018 Tuesday ,23 January
Europe brings on charm and blue skiesGMT 10:46 2017 Tuesday ,19 December
For the Variety of Interior Design StylesGMT 13:44 2018 Monday ,22 January
US Christian tourists see deep meaningGMT 10:03 2018 Tuesday ,23 January
Amazon to open first cashierless shop
GMT 18:41 2018 Sunday ,21 January
Jordan urges Pence to rebuild trust after Jerusalem pivotGMT 10:30 2012 Wednesday ,01 February
Queen Rania visits family centreGMT 13:12 2012 Friday ,29 June
First Lady wears nationalist T-shirt
GMT 14:37 2017 Wednesday ,16 August
Stuntwoman killed filming Deadpool 2 in Canada
GMT 14:51 2017 Thursday ,30 November
Turkish-Iranian mogul flips to US government witness at trial
GMT 13:59 2017 Sunday ,26 November
Pakistan capital tense as military silent on Islamist protests
GMT 02:04 2015 Thursday ,11 June
The memoir irritating Manhattan's uber-rich
GMT 01:28 2016 Wednesday ,24 August
At least 153 killed in clashes between South Sudan rival factionsGMT 13:11 2011 Thursday ,16 June
Natalie Portman gives birth to baby boy
GMT 03:02 2014 Sunday ,23 November
Algerian PM arrives in Doha
GMT 12:54 2015 Wednesday ,23 December
Saudis 'commute Sir Lanka maid's stoning death sentence'
GMT 14:02 2015 Wednesday ,04 March
Mexico nabs Zetas drug cartel leader 'Z-42'
GMT 16:07 2017 Wednesday ,29 March
King Salman stresses the need to combat terrorism
GMT 07:39 2014 Sunday ,06 July
North Korea doubles number of cyber warriors over 2 years
GMT 04:59 2016 Monday ,12 December
Antiquities ministry slams Boutroseya Church blastGMT 11:39 2011 Sunday ,29 May
Plane escapes unhurt after beamed by laserGMT 07:42 2011 Sunday ,31 July
Cab strike hits Greek tourism in holiday periodGMT 15:54 2012 Wednesday ,08 February
Tunisia :FDI down 30% in 2011
GMT 13:19 2016 Tuesday ,27 December
China's giant cow farms leave neighbours up milk creek
GMT 11:44 2016 Saturday ,10 December
Vijay ton propels India to 348-6 in fourth England TestGMT 12:05 2011 Saturday ,04 June
Dubai\'s sea lovers paddle for a cause
GMT 06:31 2017 Thursday ,30 March
International Theatre Institute celebrates World Theatre Day at UNESCO
GMT 07:00 2017 Monday ,27 February
to Inaugurate Sports Center In Tetouan
GMT 02:45 2017 Sunday ,23 April
Hundreds more join Mosul exodus as Iraqi forces retake two more western districts
GMT 22:52 2017 Friday ,14 April
Professors clear debris at Mosul University, wrecked by ISGMT 12:17 2012 Sunday ,01 April
Writing Poetry from the Inside OutGMT 17:09 2012 Sunday ,10 June
Lady Warsi\'s expenses to be investigated
GMT 03:55 2017 Saturday ,08 April
1,000 songs over 1,000 days: Dubai woman set for record challenge
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor