Commercial arbitration center to settle disputes

Updated 16 April 2014

Commercial arbitration center to settle disputes

The Cabinet has set up a high-level committee to establish a commercial arbitration center for local and international commercial and civil disputes, under the Council of Saudi Chambers (CSC).
“Its jurisdiction will not cover disputes concerning administrative, personal and criminal cases and where reconciliation is not permissible,” Culture and Information Minister Abdul Aziz Khoja said Monday after the weekly Cabinet meeting.
The CSC would form a board of directors in agreement with the Ministers of Justice and Commerce and Industry, and in coordination with the governor of the Saudi Arabian General Investment Authority.
The chairman of the board must have at least 10 years experience in the private sector, with members to have five years, and they should not have occupied any government post or job. The board will approve the center’s regulations and prepare a list of arbitrators. The center will have branches inside and outside the Kingdom.
The center would represent the Kingdom in the field of commercial arbitration domestically and internationally in coordination with the Ministry of Justice. It would have a fund to provide arbitration aid, he said.
Referring to the new law allowing transfer of information, Khoja said the Ministry of Interior would launch technical measures to ensure the privacy of private enterprises and the confidentiality of information.

The law will be applied to private enterprises engaged in tourist accommodation facilities, leasing lounges, car rentals, buying gold and jewelry from traders, transport of passengers in the Kingdom and abroad, property rentals, sports centers, and the sale of vehicles with canceled registrations.
Khoja said the Cabinet also urged the United States to restart the Middle East peace process. It praised the decisions taken by Arab League foreign ministers on the Palestinian issue, and urged the US to pressure Israeli to abide by its peace commitments.
The Cabinet expressed concern over the deterioration of human rights in Syria, Myanmar and the Central African Republic, and urged the international community to stop all crimes against humanity. It stressed the importance of concerted international efforts to deliver humanitarian aid to needy people.
The Cabinet authorized the foreign minister to hold discussions with the Arab Tourism Organization to set up its headquarters in the Kingdom. It endorsed an agreement with Hungary for cooperation in science and education, and another agreement with Egypt for electricity interconnection.
The Cabinet appointed Abdul Aziz bin Abdullah Al-Mashaali director general of administration for financial and budget affairs at the department of general staff; Abdul Aziz bin Ali Al-Thuwaini undersecretary for rights affairs at the Ministry of Interior; Abdul Kareem bin Abdul Aziz Al-Aidan administrative advisor at Riyadh mayoralty; Mohammed bin Falah Al-Darran as minister plenipotentiary at the Ministry of Foreign Affairs; and Safar bin Mushabab Abu Madini assistant undersecretary at the Ministry of Transport.


Putin thanks Saudi King Salman over Russia OPEC+ role

Updated 25 November 2020

Putin thanks Saudi King Salman over Russia OPEC+ role

RIYADH: Russian President Vladimir Putin has thanked Saudi Arabia's King Salman for the "active and joint cooperation" in OPEC+.
Putin said Russia and Saudi Arabia are actively cooperating in the alliance of the world's largest oil exporters to ensure the stability of global energy markets, Saudi Press Agency reported on Wednesday.  
Putin’s remarks were made during a ceremony to receive the credentials of foreign ambassadors.
Putin also said that Russia's relations with the Kingdom are developing increasingly due to the agreements that came after his visit to Riyadh in October 2019.