Business & Money | Tuesday 29 December, 2015 7:44 am

2016 Budget

The government’s budget for the 2016 fiscal year (31 December 2015 to 30 December 2016) was endorsed by the Council of Ministers on 28th December. It points to a sustained commitment in maintaining a high level of spending despite the sustained environment of lower oil prices (Figure 1)....

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Environment & Energy | Tuesday 29 December, 2015 6:00 am

Kingdom’s Petchem industry will adjust to energy price rise

Saudi Aramco’s Chairman Khalid Al-Falih said he is confident that local industries, including the Saudi petrochemical sector, would adjust to the rise in domestic energy prices and remain competitive. Earlier, the government said it was hiking prices for fuels, water and electricity as...

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Environment & Energy | Tuesday 29 December, 2015 5:39 am

Aramco to build world’s largest gas complex

Saudi Aramco intends to build the largest industrial complex for gas in the world a cost of $2.1 billion in Jazan. The new project will supply 20,000 metric tons of oxygen and 55,000 metric tons of nitrogen to its Jazan refinery for 20 years.  The production capacity of the new Aramco oil...

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Government | Tuesday 29 December, 2015 4:38 am

King Salman to host 1,000 Umrah pilgrims and visitors

This year Custodian of the Two Holy Mosques King Salman will host 1,000 Umrah pilgrims and visitors from various parts of the world as his personal guests. The King’ program to host Umrah pilgrims and visitors was launched last year under the supervision of the Ministry of Islamic Affairs, ...

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Environment & Energy | Tuesday 29 December, 2015 3:36 am

Up to 50% hike in fuel prices from today

The Council of Ministers on Monday decided to increase petrol prices by more than 50 percent for some products from Tuesday. The price of lower-grade petrol (Octane 91) for a liter was increased to 75 halalas from the current 45 halalas, a 67 percent rise, while the price of higher-grade...

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Government | Tuesday 29 December, 2015 3:27 am

King: Saudi economy strong enough to meet challenges

Custodian of the Two Holy Mosques King Salman announced on Monday that the annual general budget represents the beginning of an integrated and comprehensive working program to build a strong economy. Unveiling the budget for the fiscal year of 1437-38 (2016) at the weekly session of the Council...

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Business & Money | Tuesday 29 December, 2015 2:31 am

Mataf bridge removal from Feb. 9

The temporary bridges over the mataf, the circumambulation area around the Kaaba, would be removed over a period from Feb. 9 to March 9. This plan is contained in a technical report filed by a government-appointed committee to Crown Prince Mohammed bin Naif, deputy premier and interior minister, ...

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Environment & Energy | Tuesday 29 December, 2015 2:20 am

Kingdom unveils SR840bn budget

Saudi Arabia on Monday unveiled a SR840 billion budget, launching a phase in which the Kingdom hopes to further diversify its revenues in an era of low oil prices.   “Our economy has the potential to meet challenges,” Custodian of the Two Holy Mosques King Salman said in his...

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Technology & IT | Tuesday 29 December, 2015 1:55 am

Panasonic Develops a Stretchable Resin Film and Its Application Materials for Stretchable Electronics

Panasonic Corporation announced today that the company has developed a soft, flexible, and stretchable[1] polymer resin film using its proprietary stretchable resin technology. The Company will also provide a transparent electrode material[2] and conductive paste[3] along with this insulating...

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Business & Money | Monday 28 December, 2015 3:10 pm

Proclad Launches Its 3rd Production Line Capable of Generating 1,500 Metric Tons of Nickel Alloy Welding Overlay!

Proclad the world's leader in manufacturing of Corrosion Resistant Alloy (CRA) Clad Pipes, Pipelines, Fittings, Flanges and Piping / Pipeline spools, has announced the launch of its 3rd production line.     ...

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