Cabinet approves Saudi joint-stock company

King Salman. (SPA)
Updated 06 November 2019

Cabinet approves Saudi joint-stock company

  • The ministers also reviewed important initiatives and programs to be implemented in 2020 within the framework of the Vision 2030 plan

RIYADH: King Salman on Tuesday briefed the Cabinet about the recent visits of Brazilian President Jair Bolsonaro, Kenyan President Uhuru Kenyatta, Nigerian President Muhammadu Buhari and the former British Prime Minister David Cameron.
In a statement issued to the Saudi Press Agency, Media Minister Turki Al-Shabanah said the Cabinet reviewed local, regional and international developments.
He said the Cabinet also reviewed the preliminary statement of the state budget for the upcoming fiscal year.
The ministers also reviewed important initiatives and programs to be implemented in 2020 within the framework of the Vision 2030 plan.
The Cabinet also approved the request of the Saudi Arabian Monetary Authority to establish a Saudi joint-stock company. The company will own all national payment systems. It will be responsible for operations and the development of infrastructure of national payment systems.


King Salman urges Iran to junk its expansionist ideology

Updated 21 November 2019

King Salman urges Iran to junk its expansionist ideology

  • Saudi Arabia has suffered from the policies and practices of the Iranian regime and its proxies, king says
  • Kingdom also welcomed US decision to return Iran's Fordow nuclear facility to its sanctions list

RIYADH: Iran should abandon its expansionist ideology that has only “harmed” its own people, Saudi Arabia's King Salman said on Wednesday, following violent street protests in the Islamic republic.

A wave of demonstrations erupted in the sanctions-hit country on Friday after an announcement that petrol prices would be raised by as much as 200 percent with immediate effect.

“We hope the Iranian regime chooses the side of wisdom and realizes there is no way to overcome the international position that rejects its practices, without abandoning its expansionist and destructive thinking that has harmed its own people,” the king told the consultative Shoura Council.

“The kingdom has suffered from the policies and practices of the Iranian regime and its proxies,” King Salman said, quoted by the foreign ministry, reiterating that Riyadh does not seek war but is “ready to defend its people.”

A satellite image from Sept. 15, 2017, of the Fordow nuclear facility in Iran. (Google Earth)

Saudi Arabia has welcomed Washington's decision to return the Fordow nuclear facility in Iran to the sanctions list. 

Washington said on Monday that it will no longer waive sanctions related to Iran’s Fordow nuclear plant after Tehran resumed uranium enrichment at the underground site. 

“The right amount of uranium enrichment for the world’s largest state sponsor of terror is zero ... There is no legitimate reason for Iran to resume enrichment at this previously clandestine site,” US Secretary of State Mike Pompeo told reporters earlier this week.