Iran: Culprits behind Saudi Embassy attack imprisoned

This Jan. 3, 2016 photo shows Iranian protesters set fire to the Saudi embassy in Tehran, Iran. (AP)
Updated 01 May 2016
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Iran: Culprits behind Saudi Embassy attack imprisoned

TEHRAN: Iran has jailed those who stormed the Saudi Embassy in Tehran in early January. According Ali Jannati, Iran’s culture minister, the “perpetrators who stormed the embassy… were arrested and are now in prison.” The Fars, news agency did not name the identities or number of people detained. He said: “Tehran wants to find reasonable and balanced relations based on multilateral cooperation with the countries of the region.”


No delays in private sector’s payments, says Saudi ministry

Updated 26 min 48 sec ago
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No delays in private sector’s payments, says Saudi ministry

  • Foreign investment in Saudi Arabia more than doubled in 2018 to reach $3.5 billion

JEDDAH: Saudi Arabia’s Finance Ministry has confirmed that 97 percent of its payments for private sector contracts are paid within 30 days of issue, with 99 percent paid within 60.

The remaining 1 percent of payments, the ministry said, were not made due to court orders, or as a result of disputes between the government and the client, and were subject to contractual dispute resolution mechanisms. 

Foreign investment in Saudi Arabia more than doubled in 2018 to reach $3.5 billion.

Attracting foreign investment is a key part of the Vision 2030 plan to diversify the economy away from oil revenues. 

The Kingdom is also taking all steps to make small and medium enterprises the main engine for economic development.