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 15:34 2016 Wednesday ,12 October
CEO: Saudi Aramco ‘optimistic’ 2018 right time for IPO
GMT 10:52 2017 Wednesday ,18 January
Clocks 'failed' onboard Europe's navigation satellites
GMT 23:15 2017 Sunday ,17 December
Mohamed bin Zayed receives President of Montenegro
GMT 11:54 2017 Sunday ,12 November
Nawaz Sharif holds meeting at Jati Umra
GMT 12:39 2015 Monday ,02 November
Egypt's ties with Nile basin states Sisi's top priority
GMT 00:01 2017 Tuesday ,22 August
Hard-right AfD party wants Germany First asylum policy
GMT 04:54 2017 Saturday ,14 October
Syrians should decide Assad's fate: UN envoy
GMT 00:13 2017 Thursday ,23 November
President expresses grief over martyrdom of Maj. Ishaq
GMT 10:11 2017 Wednesday ,18 October
Venezuela poll results a 'strong message' to US, allies
GMT 13:20 2017 Sunday ,19 February
Actor Bassam Ali rejects works violating ethics
GMT 13:06 2017 Wednesday ,22 February
Super Rugby has plenty to tackle in 2017
GMT 08:49 2017 Thursday ,26 October
Second-largest petroleum exporter to the United States after Canada
GMT 15:03 2017 Saturday ,11 March
Iraqi forces storm Old Mosul from 3 axis
GMT 20:56 2017 Sunday ,05 March
Iraq ranked first in Istanbul International Festival of Inventions
GMT 12:35 2017 Wednesday ,29 March
Municipality Ministry Participates in GCC Meeting on Drafting Work Strategy
GMT 15:55 2017 Tuesday ,25 July
Morocco’s coach underlines difficulty
GMT 10:49 2016 Saturday ,03 December
Australia's Maxwell fined for 'disrespectful' teammate
GMT 12:58 2017 Sunday ,27 August
Consumers warned against random abattoirs
GMT 12:01 2017 Tuesday ,21 February
Sri Lankan 'Eddie the Eagle' takes snowboarding plunge
GMT 14:29 2017 Wednesday ,01 March
The Palestinian leadership and people mourn passing of British MP, KaufmanGMT 11:14 2012 Monday ,27 August
Myanmar readies for media defamation case
GMT 12:34 2015 Thursday ,27 August
'Fifty Shades of Grey' sequel lines up new director
GMT 17:45 2016 Monday ,05 September
Power outages and flooding as deadly storm Hermine strengthens in Mid Atlantic
GMT 06:28 2018 Sunday ,07 January
Golden Globes celebrate the year of the genre movie
GMT 12:39 2017 Friday ,10 March
Kidnappings blight war-scarred Kabul city
GMT 05:48 2018 Tuesday ,02 January
Kerber makes a fresh start in 2018 with Hopman Cup win
GMT 01:35 2016 Wednesday ,30 November
UN: Mosul's poor struggle to get food
GMT 09:23 2018 Monday ,01 January
Putin not to attend UN General Assembly
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