Saudi king orders $19 bn stimulus for private sector
The skyline of Riyadh, the capital of Saudi Arabia.
Riyadh - Arab 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
GMT 09:55 2018 Monday ,26 November
Mahamadou Issoufou Arrives in RiyadhGMT 14:21 2018 Friday ,19 October
Former Sudan president Al Dahab dies in RiyadhGMT 14:14 2018 Friday ,19 October
Hadi swears in Yemen’s new PM prime ministerGMT 03:14 2018 Wednesday ,12 September
GCC Chief Abdullatif bin Rashid receives PHD graduateGMT 00:17 2018 Wednesday ,24 January
King Salman receives Iraqi Acting Minister
Economic conference on investment opportunities in Syria kicks off
Bucharest - SANA
With the participation of 120 representatives of Romanian companies, Chambers of Commerce and industry, An economic conference on “Reconstruction in Syria between the development of economic steadfastness and the opportunities ofRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launched from the Baikonur CosmodromeLiverpool, Manchester City seek neighbours' help in title chase
London - DPA
Liverpool and Manchester City will be looking for a little help from their not-so-friendly neighbours this weekend. The Premier League front-runners face each other's local rivals when City host Everton and Liverpool take on Manchester United. Liverpool jumped above City at theBlue light in smartphones linked to blindness and some cancers
Spain - DPA
Ever since we have started to become chained to our smartphones and tablets, people have been saying that the waves coming off these devices must be bad for us. So often laughed off as conspiracy theorists, it now looks more and moreFestive Fashion by Dubai-based designer ASMARAÏA
Dubai - Arab Today
Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
GMT 19:49 2017 Monday ,18 September
IPO of 'Angry Birds' owner takes flight in Helsinki
GMT 21:05 2017 Thursday ,04 May
Death toll in northeastern Iran mine blast reaches 22
GMT 13:26 2017 Thursday ,30 March
More whistle-blowers are talking to WADA
GMT 07:37 2017 Monday ,20 February
Atlas Telecom launches breakthrough coastal surveillance
GMT 09:05 2017 Wednesday ,11 January
France sells off Engie stake to finance Areva rescue
GMT 04:47 2017 Wednesday ,06 December
US firms invited to bid for Saudi nuclear plants
GMT 13:34 2017 Tuesday ,05 December
Hariri to return to Paris Friday for Lebanon meeting
GMT 09:52 2017 Friday ,13 January
Nearly two-thirds of US voters want Trump to close Twitter account
GMT 11:20 2017 Sunday ,28 May
Policeman killed by unknown militants in North Sinai
GMT 09:44 2016 Sunday ,11 September
'The Legend of Marco Polo' staged at 5th Minorities Art Festival in Beijing
GMT 13:28 2017 Friday ,01 December
Chinese satellite closes in on dark matter mystery
GMT 03:38 2017 Wednesday ,26 July
President Jokowi has taken decision on ministers
GMT 04:43 2017 Thursday ,13 July
German gamblers may have revealed secrets of ‘Game of Thrones’ season 7
GMT 11:52 2018 Thursday ,13 December
Britain's May to appeal to EU for help to salvage Brexit deal
GMT 08:11 2018 Tuesday ,23 January
Davos-bound bosses very upbeat on world economy
GMT 15:48 2018 Sunday ,21 January
DEWA achieves lowest customer minutes lost per year worldwide
GMT 01:24 2017 Wednesday ,20 December
Pope attracts world-record crowd in wet Philippines
GMT 04:53 2017 Thursday ,14 December
Rocker Hallyday buried in Caribbean
GMT 11:45 2017 Wednesday ,06 December
Sahalah FM Brings 360 Building Services to The Kingdom
GMT 19:46 2017 Thursday ,30 March
HH the Emir Addresses Arab Summit in Jordan
GMT 10:15 2017 Monday ,04 December
Opioid crisis also imposes handicap
GMT 12:46 2017 Thursday ,09 March
Isaiah Thomas leads Celtics past road-weary Warriors NBA
GMT 18:43 2017 Wednesday ,18 January
Sheikh Mohammed bin Zayed condoles with Emiratis families
GMT 00:35 2017 Thursday ,30 March
Putin orders Russian Armed Forces staff increase to 1.9 mln
GMT 06:53 2017 Wednesday ,15 February
Saudi Airlines taps Tawuniya for medical insurance services
GMT 11:17 2017 Tuesday ,12 September
Brazilian meat billionaire flown to jail in graft scandal
GMT 23:43 2017 Thursday ,09 November
Saudi Arabia calls on citizens to leave Lebanon immediately
GMT 14:33 2018 Wednesday ,12 December
Political turbulence likely to continue unabated in 2019
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor