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SALT OF THE EARTH
The Business Year talks to Nizar Kammourie, General Manager of SAWACO, on government reforms, renewable energy, and a new mode of doing business in the KSA.
Nesma Trading Awarded Petro Rabigh Project
Nesma Trading’s Technical System Division was awarded a project worth SAR 134 million; Saudi Aramco and Sumitomo Chemical started the Petro Rabigh project with the aim of building integrated oil refining and petrochemical operations by way of upgrading Saudi Aramco’s oil refinery and constructing a new petrochemical complex.
Saudi Industry News
There has been a significant shift in Saudi oil policy since early May and the kingdom wants to increase output to bring down oil prices, probably in response to pressure from the Trump White House. Saudi Arabia has always seen that oil price spirals that could cause global recession and decimate demand for its sole major export commodity.
Our Vision: Saudi Arabia...the heart of the Arab and Islamic worlds, the investment powerhouse, and the hub connecting three continents
IYADH: The Saudi finance ministry said on Sunday there would be no fees applied on remittance out of the country, days after the kingdom’s advisory Shoura Council said it was looking at a proposal to impose a 6 percent levy on expatriate remittances.
Repeal JASTA, New York Times urges US Congress
JEDDAH: The New York Times has urged the US Congress to repeal the so-called 9/11 Bill or the Justice Against Sponsors of Terrorism Act (JASTA) before it could do more damage.
KSA switches to Gregorian calendar
RIYADH: Salaries, allowances and other payments to public servants will now be paid according to the Gregorian calendar in order to be aligned with the country’s fiscal year, according to a recent decision by the Council of Ministers. On Wednesday the Cabinet agreed to switch from the Hijri calendar for payment of salaries, wages, bonuses and allowances to all civil sector employees.