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Nearly half Saudi CEOs say facing talent crunch challenge
In its latest Saudi Arabia CEO Outlook report, KPMG surveyed the challenges on the labour market and found that 46 percent of CEOs in Saudi Arabia, compared to 59 percent of the global CEOs, highlighted challenges in finding the right staff.
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Saudi economy set to grow this year, driven by non-oil sector – central bank
Even as the oil-based economy suffers, economists have said Saudi investments in non-oil infrastructure projects led by the Public Investment Fund will continue to support economic activity this year. Saudi non-oil economic output grew 4.33% in the third quarter of 2019, even though the overall economy contracted by 0.46%, hit by a drop in oil production.
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Full Interview: Saudi Finance Minister Mohammed Al Jadaan
While Saudi Arabia “stands ready” to support Lebanon, it wants to see a reform plan first, Saudi Finance Minister Mohammed Al Jadaan told CNBC’s Hadley Gamble in Riyadh at the G-20 Summit.In a wide-ranging interview, Al Jadaan also discussed tourism in the kingdom and the coronavirus outbreak.
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Five things to know about emerging US, Taliban peace deal
If the reduction in violence holds, U.S. and Taliban negotiators will sign the broader agreement Feb. 29, starting a phased withdrawal of U.S. troops in exchange for Taliban guarantees that Afghanistan will not be used as a base for terrorist attacks against the West.
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Earthquake in Turkey-Iran border region kills nine, injures more than 100
Nine people were killed and buildings collapsed across southeastern Turkey on Sunday when a magnitude 5.7 earthquake struck near the border with Iran, injuring more than a hundred in villages and towns in both countries, government officials said.
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New coronavirus cases rise in Italy, Korea and Iran but fall in China
Italy, South Korea and Iran reported sharp rises in coronavirus infections on Monday, triggering concern from the World Health Organization (WHO), but China relaxed some curbs on movement, including in Beijing, as the rate of new infections there eased.
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Analysis: Saudi Arabia set to compete fiercely with major Asian gasoil exporters with Jazan startup
The kingdom's latest 400,000 b/d domestic refinery and petrochemical project in Jazan, located on the Red Sea, is expected to start commercial operations some time in mid-2020, S&P Global Platts reported earlier. At full capacity, Jazan will produce 209,900 b/d of ultra-low sulfur diesel, 71,400 b/d of 91 RON and 95 RON gasoline, 48,500 b/d of high sulfur fuel oil and 6,700 b/d of LPG, according to an Aramco corporate presentation at an industry conference in June.
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HSBC’s Saudi Arabia Affiliate Seeks to Boost Corporate Lending
HSBC Holdings Plc’s affiliate in Saudi Arabia is ready to “compete aggressively” to regain market share in corporate lending after acquiring Alawwal Bank. “We have no appetite whatsoever to continue to lose market share,” Saudi British Bank’s Managing Director David Dew said in an interview in Riyadh. “For SABB, margins as a whole have peaked for this particular interest rate cycle and are now on a downward trend.”
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Saudis stake $110B on Jafurah unconventional gas field
Saudi Arabia plans to invest 412 billion riyals ($110 billion) to develop unconventional natural gas reserves in the eastern Jafurah field, according to the kingdom’s official Saudi Press Agency. Crown Prince Mohammed bin Salman presided over a meeting of the Saudi High Commission for Hydrocarbons on Thursday during which the development plans were reviewed, the agency reported late Friday. The field is estimated to hold 200 trillion cubic feet of wet gas (about 5.7 trillion cubic meters) and its phased development is expec
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Saudi Regulator Seeks to Raise Capital Levels for Insurers
Saudi Arabia is working on new regulations that would raise capital requirements for the kingdom’s overcrowded insurance sector, its central bank governor said in an interview with Bloomberg TV. The new rules would “make the market more attractive to foreign investors,” Ahmed Alkholifey, governor of the Saudi Arabian Monetary Authority, said in an interview Sunday in Riyadh. Officials are trying to expedite the regulations and hope they’ll be passed this year, he said. The government also wants to encourage other lines of business beyond motor and health insurance.
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