Saudi king orders $19 bn stimulus for private sector
The skyline of Riyadh, the capital of Saudi Arabia
Riyadh - Muslimchronicle
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.
- Tuesday ,23 January GMT 21:14 2018 Saudi King issues directive to transfer US$2 billion to Yemen's Central Bank
GMT 21:14 2018 Tuesday ,23 January
Saudi King issues directive to transfer US$2 billion to Yemen's Central BankGMT 09:42 2018 Wednesday ,03 January
Saudi minister 'resumes work' after graft detentionGMT 09:37 2017 Saturday ,16 December
John Travolta wows fans in RiyadhGMT 11:28 2017 Friday ,08 December
British MP Vaz lauds KSRelief activitiesGMT 11:20 2017 Monday ,04 December
Saudi female diplomats are making great progress
In The Swiss Alps
Five things to know about Davos
Davos - Muslimchronicle
With the World Economic Forum kicking off in earnest on Tuesday, AFP presents a guide to the week-long event in the Swiss Alps. - WHAT IS ‘DAVOS‘? - Davos is shorthand forfighting hate speech
Instagram, Google+ join EU group
Brussels - Muslimchronicle
Facebook's Instagram and the Google+ social network have agreed to join an EU-sponsored group of US internet giants to combat online extremism, EU officials said Friday. EU officials added that
At Sports Court
Russians challenge doping ban
Geneva - Muslimchronicle
Dozens of Russian athletes banned by the International Olympic Committee for life over doping began an appeal against their suspension on Monday at the world's top sports court. The week-long hearing at the Court of Arbitration for Sport (CAS) includesIn New Aid For War-Torn Yemen
Saudi-led coalition announces $1.5bn
Sanaa - Muslimchronicle
The Saudi-led coalition fighting in Yemen has pledged $1.5bn (£1.1bn) in new humanitarian aid for the country. It will also increase the capacities of Yemeni ports to receive aid and cargo shipments, and set up 17 "safe-passage corridors" for humanitarian groups. ThreeParis show pays homage
To 'eternal style' of late Alaia
Paris - Muslimchronicle
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 his
GMT 07:10 2017 Wednesday ,18 October
New Zealand kingmaker set to decide election Thursday
GMT 10:45 2017 Wednesday ,23 August
Iraqi forces advance towards heart of IS-held bastion
GMT 20:15 2017 Friday ,22 September
British PM proposes two-year transition period after Brexit
GMT 16:01 2017 Saturday ,15 July
Egypt police probe motives of Red Sea beach attacker
GMT 07:45 2017 Friday ,03 November
Pope Francis condemns war as 'useless tragedy'
GMT 00:53 2017 Tuesday ,10 January
45 Daesh suicides killed in Mosul, Tal Afar
GMT 14:27 2017 Sunday ,13 August
Dubai Exports looks at greater co-operation with India in the food
GMT 18:11 2017 Tuesday ,03 October
Bangladesh rescues 20 Rohingya held by refugee racket gang
GMT 11:35 2017 Friday ,31 March
Al Kunayessi announced establishment of new media syndicate
GMT 05:30 2017 Friday ,17 November
Venezuela creditors committee rules PDVSA defaulted on bonds
GMT 23:22 2017 Thursday ,31 August
December 21 - January 18
GMT 05:49 2017 Monday ,18 December
Manchester United down Albion, Reds rock Bournemouth
GMT 20:30 2017 Sunday ,24 September
ISIS flag seen on Islamabad highway
GMT 09:17 2017 Saturday ,12 August
Merkel embarks on Germany's 'strangest'
GMT 20:30 2017 Tuesday ,06 June
SpaceX's first recycled Dragon arrives at space station
GMT 05:58 2017 Saturday ,18 November
Al-Jubeir: Hezbollah poses threat to Lebanon, region
GMT 10:08 2017 Tuesday ,22 August
Nadeen underlines Lebanese drama success
GMT 19:25 2017 Thursday ,02 March
Antarctica hits record high temperature at balmy 17.5°C (63.5°F)
GMT 12:37 2017 Monday ,04 December
Malta police arrest eight suspects in murder of blogger — PM
GMT 09:59 2017 Thursday ,12 October
Cara Delevingne accuses Weinstein
GMT 11:02 2017 Wednesday ,26 July
Opposition leader appeals to military in Venezuela
GMT 04:48 2017 Tuesday ,14 March
Ed Sheeran to guest star on ‘Game of Thrones’
GMT 10:20 2017 Saturday ,18 March
Pentagon denies hitting Syria mosque, offers photo as proof
GMT 11:10 2016 Sunday ,02 October
New York Mets seal MLB playoff berth with victory over Phillies
GMT 00:48 2016 Tuesday ,06 December
Yemeni forces retake Alab border checkpoint with Saudi Arabia
GMT 18:38 2016 Saturday ,03 December
UN envoy: International community committed to peace in Yemen
GMT 04:20 2017 Sunday ,27 August
Iran, Saudi Arabia to exchange diplomatic visits
GMT 18:15 2016 Monday ,19 December
Daesh-claimed blast kills at least 52 outside Yemen military camp
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©
