Saudi Arabia’s sovereign wealth fund PIF (Public Investment Fund) has transferred 4% of its issued shares in state oil giant Aramco—valued at around $80 billion—to one of its key subsidiaries, Sanabil Investments. HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, the Crown Prince and Prime Minister and PIF Chairman, said the transfer of part […]
Saudi Arabia
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Saudi Crown Prince’s ‘special economic’ gateways to create thousands of jobs in the kingdom
Saudi Arabia’s Crown Prince and Prime Minister Mohammed bin Salman, has launched four new Special Economic Zones in the kingdom, which are expected to create “tens of thousands of jobs, and contribute billions of riyals” to GDP. The new Saudi zones will be focused on key growth sectors, which includes advanced manufacturing, cloud computing, medical […]
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Saudi Arabia reveals temporary work visa system
Saudi Arabia has announced a temporary work visa service, which enables enterprises to issue a temporary work visa for 3 months from entry date and can be extended for a similar period. Eligibility to apply for temporary work visa • The enterprise must be active• A valid commercial registration except for the activities that do […]
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UAE, Saudi Arabia confirm 4-day Eid weekend for private sector
The UAE and Saudi Arabia have announced a holiday for the private sector and non-profits for Eid Al-Fitr 2023. The Eid Al-Fitr holiday will begin at the end of the working day on Thursday, April 20, for four days. The announcement of the holiday was made by the kingdom’s Ministry of Human Resources and Social Development […]
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Saudi Arabia launches 200 projects across 17 industries
Saudi Arabia’s National Center for Privatisation (NCP) has announced the launch of 200 development projects across 17 sectors. The initiative will provide local and international investors with an opportunity for advanced preparation to ensure their readiness to participate in the projects tendered to the market. Schemes include four airports, seven desalination plants, six wastewater treatment […]
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Potential 3-day weekend? Official Eid Al-Fitr 2023 dates revealed
UAE residents can expect a three-day weekend after the International Astronomy Centre revealed its expected date for the sighting of the Shawaal crescent. According to a Twitter post by UAEBARQ, the International Astronomy Centre said: “Islamic Countries are expected to sight the crescent of Shawwal on Thursday, April 20. Sighting the crescent on that day might not […]
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Report: Saudi Arabia makes major changes to work visas
Saudi Arabia has introduced new rules for skill-based recruitment, according to a report in the Saudi Gazette. The Ministry of Human Resources and Social Development (MHRSD) has brought in three skill levels for new recruits in certain sectors in the Kingdom. The changes come alongside efforts to improve the professional competence of skilled workers in the Saudi […]
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Saudi jobs: Aramco ‘significantly’ increasing hiring, job opportunities, says HR boss
In an exclusive interview with Oil & Gas Middle East, Aramco’s SVP of human resources Faisal A. Al-Hajji, discusses job opportunities for engineers, attracting Saudi talent, and more. Oil & Gas Middle East: As the company ramps up projects, will you have more job opportunities for engineers? Al-Hajji: As the company is guided by engineers, […]
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L&T secures major oil and gas contracts in Saudi Arabia
The hydrocarbon unit of Indian EPC contractor Larsen & Toubro (L&T) has recently secured multiple offshore packages from Saudi Aramco. The contracts includes work on the further development of Aramco’s giant Zuluf oilfield with a project scope that involves both new infrastructure and the upgrading of multiple production deck modules, sources said. The scope of […]
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SCA Future Projects Forum to showcase over SAR1 trillion in project value
The Saudi Contractors Authority(SCA) will be hosting its annual Future Projects Forum (FPF) on May 22-23 in Riyadh at the Four Seasons Hotel. This forum is a major event for the contracting industry in Saudi Arabia as it serves as a platform for the announcement of major government and private sector projects, as well as a […]
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