Saudi Aramco announced an investment of $110 billion to develop unconventional gas resources in the eastern province of the Kingdom on Saturday. The green light for the development of the Al Jafura field coincides with massive discoveries of natural gas in oil-producing states in the region. In other news, the Saudi central bank governor said…
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Saudi Arabia’s National Development Fund, a 350 billion Saudi riyals (Dh342.7bn) investment vehicle, expects to finalise by April a strategy that will lay the framework for its co-investments in the kingdom’s infrastructure projects with private sector investors, its governor said. In other news, Russia’s RDIF sovereign wealth fund said on Wednesday that Russian and Saudi…
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The General Authority for Zakat and Tax (GAZT) shared its experience at the Financial Digital Transformation Forum in Riyadh on Sunday. The authority discussed the challenges and solutions facing the ongoing digital transformation. In other news, more than 850 projects which are expected to cost over SR 600 billion are to be presented at the…
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The Saudi budget is expected to support local gross domestic product (GDP) growth to exceed 2% by 2021, according to S&P Global Ratings. The ratings agency stated that growth will rely mainly on oil prices volatility, and the global and regional geopolitical and economic instability. In other news, Saudi Arabia’s Foreign Minister Faisal bin Farhan…
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