Press Dossier   By Date  18/08/2021
Modon, PIF-owned TBC agreement indicates education and jobs boost for industrial cities
The Saudi Authority for Industrial Cities and Technology Zones (MODON) plans to increase educational facilities and jobs in industrial cities.
SAMI and Bahri sign localization deal for defense industry logistics
Saudi Arabian Military Industries (SAMI) and Bahri, the Kingdom’s national shipping carrier, have agreed a deal for wide-ranging logistics services, including sea, air, and land transport, as well as freight services for the various business units and affiliated companies of SAMI.
Saudi PIF raises stake in US equities to $15.9 bn after Activision deal
Saudi Arabia’s Public Investment Fund has increased its ownership of equities in the US market to nearly $15.9 billion by the end of the second quarter this year.
Saudi National Bank’s investment arm and BNY Mellon to bring global securities services in KSA
SNB Capital, the investment banking arm of Saudi National Bank, has partnered with global investments company BNY Mellon to offer global securities services to institutional and large asset owners in Saudi Arabia.
NHC to supply Riyadh with 147,000 new housing units
The National Housing Company (NHC) aims to add 147,000 housing units in the capital Riyadh over the next few years, Saudi Press Agency reported, citing CEO Mohammed bin Saleh Al-Bati.
Riyadh helped workers recover over $15.4m in late wages and financial rights
Saudi labor authorities helped in recovering over SR58 million ($15.4 million) in late wages and financial rights in the Riyadh area alone, Saudi Press Agency reported.
Kuwait plans spending cuts on medical treatment and wage subsidies
Kuwait’s record $35.5bn budget deficit will result in government spending cuts of at least 10 per cent there, and could see private sector workers earning 3,000 KWD ($9,976) lose their national employment subsidies as the government looks into ways to ration its spending.
Kuwaiti ministries to limit public spending amid steps to address budget deficit
Kuwait’s Cabinet has instructed all state bodies to limit spending to at least 10 percent as part of plans to address the country’s budget deficit, ministers agreed on Monday.
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