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  • Saudi Arabia Regional Headquarters Programme: Contracting with government entities

    By way of background, the Regional Headquarters (RHQ) Programme is an initiative jointly developed by the Ministry of Investment (MISA) and the Royal Commission for Riyadh City which aims to attract multinational companies to establish their regional headquarters in the KSA. The RHQ Programme forms part of the Vision 2030 initiative to enhance and diversify the KSA economy. In February 2021, the KSA government announced its intention to cease contracting with companies that do not have their RHQ situated in KSA.

  • Saudi Arabia Regional Headquarters Programme: Contracting with government entities

    By way of background, the Regional Headquarters (RHQ) Programme is an initiative jointly developed by the Ministry of Investment (MISA) and the Royal Commission for Riyadh City which aims to attract multinational companies to establish their regional headquarters in the KSA. The RHQ Programme forms part of the Vision 2030 initiative to enhance and diversify the KSA economy. In February 2021, the KSA government announced its intention to cease contracting with companies that do not have their RHQ situated in KSA.

  • Parsons confirmed delivery partner for 170km The Line at NEOM, Saudi Arabia

    Parsons’ framework agreement for consultancy services on The Line includes project and construction management services for the design, procurement, construction, testing and commissioning of the project.

  • Saudi, South Korea partner to construct modular homes in Kingdom

    Saudi Arabia’s Public Investment Fund (PIF) announced in a tweet that it has signed a memorandum of understanding (MoU) with South Korea’s Samsung C&T Corporation Engineering & Construction Group. As part of the deal, Samsung C&T will be building modular homes in Saudi Arabia in a joint investment with PIF. These residential units will either come up in the Saudi futuristic city Neom or in Riyadh, reported The Korea Economic Daily, citing a senior Korean minister.

  • Saudi Database to Boost Women Participation in Economic Sectors

    It will do so by building a database for directing invitations to enable women to enter appropriate projects. At the Council of Saudi Chambers, a Women Empowerment Coordination Council (WECC) was established in accordance with a Cabinet decision. The decision stipulated the formation of a women’s committee with experience and competence to coordinate with the relevant authorities to encourage private sector establishments to find activities and fields of work for Saudi women.

  • Saudi Arabia to allow some companies to operate without local headquarters

    Saudi Arabia has announced some companies will be able to operate in the kingdom without having a headquarters in the country. Companies with foreign operations not exceeding 1 million Saudi riyals ($266,000) can operate in the kingdom without local headquarters, it was reported on Sunday. Firms competing for government contracts without any other bidders are also exempt from the rules.

  • Saudi art movement stagnates in Jeddah as Riyadh flourishes

    “One of the reasons behind the thriving art movement in Riyadh is the mega projects, such as Qiddiya and Diriyah. Moreover, artists can make their way to AlUla, NEOM, as well as a number of heritage and tourist sites,” Zarban said.

  • Opinion: Why Palestine is at the heart of what it means to be Arab

    Whereas Arabs are of many faiths and sects, and millions of Arabs do not necessarily speak Arabic (think of the huge diaspora communities outside the Arab world in North, Central, and South America as well as in Europe, who write and think primarily in English, French, German, Spanish or Portuguese), every Arab knows about Palestine.

  • Opinion: Kingdom, come: The case for partnering with Saudi Arabia

    Israel, of course, will remain an important anchor of U.S. policy, but the region’s trajectory through the coming year and beyond will require Washington to secure its interests with more than just one linchpin. Arab and Muslim aspirations cannot be addressed, or harnessed, through Tel Aviv.

  • Saudi banks to start implementing Basel III reforms in January

    The reforms were issued by the BCBS in December 2017, which complements Basel III standards issued by the BCBS in 2010, with the aim of restoring creditability in the calculation of risk-weighted assets (RWA) by improving the sensitivity of the standardized approach (SA) used in calculating them, and reducing the reliance on the internal ratings-based approach (IRB).