Daily Archives: December 9, 2015

U.S. short-term government funding bill to last until Dec. 16

WASHINGTON, , Safar 28, 1437, December 10, 2015, SPA — U.S. House appropriators introduced a short-term funding bill on Wednesday to keep the U.S. government running for an additional five days this month until Dec. 16 while lawmakers work on a longer-term funding measure, the Appropriations Committee said, according to Reuters.

The House will vote on the stopgap bill on Friday, a House leadership aide said earlier. U.S. lawmakers are negotiating a $1.15 trillion funding bill to pay for government operations through September, but they have been unable to agree on all the details, with the Dec. 11 deadline looming.

“While progress is being made on negotiations for a full-year omnibus appropriations bill, it is clear that more time is needed to complete the package. This short-term funding resolution will keep the lights on in government and maintain current operations for a few days so Congress can complete and pass an agreement,” Appropriations Committee Chairman Hal Rogers said in a statement.

01:37 LOCAL TIME 22:37 GMT

Japanese catalogs Exhibition kicks off in Eastern Region Chamber

Dammam, Safar 27, 1437, December 09, 2015, SPA — Japanese Catalogs Exhibition started yesterday its activities at the Eastern Region Chamber in Dammam.
The member of the Board of Directors of the Chamber Abdulaziz Al- Othman said that the Saudi market is witnessing a strong presence of Japanese companies operating in various sectors, most notably in the energy, water and petrochemical fields.
He added that the exhibition, which was organized in collaboration with the Japan External Trade Organization (JETRO) aims at setting joint business relations between Saudi businessmen and their Japanese counterparts.
16:04 LOCAL TIME 13:04 GMT

President of Saudi Chambers Council Meets British Trade Envoy

Riyadh, Safar 27, 1437,December 09, 2015,SPA — President of Saudi Chambers Council Dr. Abdulrahman bin Abdullah Al-Zamil met yesterday at the headquarters of the Council in Riyadh with Trade Envoy of British Prime Minister in the Kingdom Lord Thomas King and his accompanying delegation.
The meeting discussed aspects of economic cooperation between the two countries and promotion of joint investments in the two kingdoms.
16:01 LOCAL TIME 13:01 GMT

Saudi-Algerian Committee Concludes session in Riyadh

Riyadh, Safar 27, 1437,December 09, 2015,SPA –Saudi-Algerian Committee concluded its 11th session at the Conference Palace in Riyadh today.
The Saudi side was headed by Minister of Commerce and Industry Dr. Tawfiq bin Fawzan Al-Rabiah and the Algerian side by Minister of Finance Abdulrahman bin Khalfah, with the participation of a number of government representatives from the two sides.
During the session, they signed an agreement, a memorandum of understanding and a programme of action in the field of maritime transport, stock exchanges and planning and statistics.
14:57 LOCAL TIME 11:57 GMT

Saudi Arabian General Investment Authority to launch Global Competitiveness in January 2 Riyadh

SAGIA’s Governor Engineer Abdullatif A. Al-Othman, said of the upcoming Forum: “In 2016, the GCF will continue the discussion on competitiveness with the theme of ‘Competitive Sectors’ that play a significant part in fostering and enhancing sustainable growth. Topics in the GCF 2016 will include human capital development, innovation, and integration of sectors that act as building blocks for sustainable economic development.”

This is the 9th edition of the GCF, with the first edition in 2007 featuring a memorable keynote speech by Microsoft Chairman Bill Gates on ICT as an enabler for competitiveness. Subsequent GCFs focused on themes such as responsible competitiveness, innovation, entrepreneurship and competitive governments, attracting leading personalities such as Tony Blair, Bill Clinton and F.W de Klerk.

Prominent media including CNN, BBC World News, the Financial Times, Time and Bloomberg have also covered the GCF over the years.
14:40 LOCAL TIME 11:40 GMT

Saudi Arabian General Investment Authority to launch Global Competitiveness in January

Riyadh, Safar 27, 1437, December 09, 2015, SPA — Business leaders, policy makers and academics are being urged to take part in the Global Competitiveness Forum 2016, the most important economic event in the Kingdom of Saudi Arabia and the wider Gulf region that takes place in Riyadh on January 24-26.

The GCF 2016, which is organized by the Saudi Arabian General Investment Authority (SAGIA) will focus on the theme of “Competitive Sectors”, shedding light on the ingredients that are essential in driving the competitiveness of sectors, the strategies that governments should follow to accelerate competitiveness, and, most importantly, the role of competitive sectors in maintaining sustainable economic growth, said a press release issued by SAGIA.

The GCF will also focus on priority sectors that have been identified to have a direct impact on economic and human development, such as healthcare and life sciences, transport, education, ICT, and the services sectors. Global and local perspectives on issues such as the importance of innovation and ensuring high levels of productivity towards achieving competitiveness in sectors will also be a significant part of panel discussions. In addition, discussions will highlight the achievements of economic diversification and the creation of jobs for a growing youthful population in the Kingdom of Saudi Arabia.
14:40 LOCAL TIME 11:40 GMT

Riyadh Economic Forum recommends the formation of a knowledge economy and IT development entity

Riyadh, Safar 27, 1437, December 09, 2015, SPA — Following deliberations while studying a working paper titled “IT Promotion as a Stimulant of Development and Transfer to Knowledge Economy”, the Riyadh Economic Forum, running into its second day at Riyadh International Center for Conferences and Exhibitions, has underscored the importance of forming a constitutional entity for knowledge economy to be able to draw a clear applicable road map to mobilize the performance of diversified agencies relating to knowledge economy.
The study, reviewed in-depth by a host of specialists and those interested in information technology sector and knowledge economy at the session, presided over by Dr. Mohammed bin Suleiman Al-Jasser, the Advisor at the Royal Court, in the attendance of the Minister of Communications and Information Technology Dr. Mohammed Al-Suwayel, urged work to develop the legal and legislative frameworks for IT activities in a way that enhances the competitiveness of the sector and provides active performance of small and medium companies amid appropriate climates of this sector.
The study, reviewed by a team led by Dr. Abdulrahman Al-Eraini, and membership of Dr. Najah Al-Qablan, a teaching female staff of Princess Nura University, also called for forming the industrialized component of IT and rectifying the imbalance resulting from the presence of overwhelming distribution and trade agents activities as part of an endeavor to transfer the society to a knowledge economy before completely settling at home the IT industry.
It also called for matching the requirements of highly professional IT industry with the current educational human output, citing the need to apply the cloud computing system in the under-graduation level and activating e-transactions in retail shops.
13:52 LOCAL TIME 10:52 GMT

Wholesale prices index in Kingdom declines 0.2 % in November

Riyadh, Safar 27, 1437, December 09, 2015, SPA –The general index of wholesale prices in the Kingdom dropped monthly about 0.2 % in November compared to the previous month of October and an annual decline of 2.1% in November 2014.
The monthly report issued by the Statistics department said that the general index of wholesale prices in the Kingdom amounted to (157.1) in the month of November 2015 compared to (157.4) in the previous month (October 2015), and compared to (160.5) in November 2014.
The report attributed the decline in the index of the wholesale prices for the month of November 2015 compared to October 2015 to decline in four of the key component parts of the index.
13:15 LOCAL TIME 10:15 GMT