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Crown Prince Mohammed Bin Salman signs deals with Pakistan

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Saudi Arabia has signed investment deals with Pakistan worth $20bn, as an attempt to boost Pakistan’s fragile economy.

The deal also includes funding for an oil refinery in Gwadar city, with an investment worth $8bn.

All this falls under the Crown Prince Mohammed Bin Salman’s high-profile Asian tour.

These investments are just what the country needs at the moment; as they suffer from a financial crisis, and has been looking for international backers to support them.

Pakistan’s Prime Minister, Imran Khan has been on the lookout for friendly countries to help him cut down the size of the bailout package that Pakistan is going to need from the International Monetary Fund.

The kingdom has already offered its help with a  loan worth of $6bn.

“It’s big for phase one, and definitely [our commercial relationship] will grow every month and every year, and it will be beneficial to both countries.” Crown Prince Mohammed Bin Salman commented regarding the latest deal.

Pakistan is the first country on the Asian tour, and the Crown Prince is scheduled to visit India on Tuesday, and China on the following Thursday and Friday.

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G-20 Leaders Close Riyadh Summit and World Leaders Discuss Efforts in Facing the Pandemic

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The G20 Leaders’ Summit was presented virtually this year due to the pandemic and was hosted by Saudi Arabia with the participation of the world’s leaders.

The two-day conference ended on Sunday, its organizers hailed it as a success. Following this success, the Kingdom handed over G20 presidency to Italy as Riyadh summit concluded.

The two-day summit, the 15th meeting of the forum, has allowed leaders of economies to come together and discuss the most challenging socioeconomic issues, including finding a response to the pandemic and its challenges.

“We underscore the urgent need to bring the spread of the virus under control,” the leaders of the G-20 nations said in the communique.

“We have seen very clear signs but also actions by the G-20 supporting multilateralism,” Mohammed al-Jadaan, Saudi Arabia’s finance minister, said during a news conference at the summit’s conclusion.

“We hope that Italy will crystallize this idea with the aim of supporting joint international coordination and intensifying the role, to come up with policies and initiatives to meet any challenges and determine the economic and well-being of our peoples,” the crown prince said.

The crown prince stressed on the importance of cooperation in standing against the outbreak of COVID-19, and its health, economic, and social repercussions.

The G20 leaders also promised to “spare no effort” to ensure the fair distribution of COVID-19 vaccines and medicines worldwide.

“We are taking immediate and exceptional measures to address the COVID-19 pandemic and its intertwined health, social and economic impacts, including through the implementation of unprecedented fiscal, monetary and financial stability actions,” the statement said.

 

 

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The Kingdom Approves 48-hour and 96-hour Transit Visit Visas

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In another attempt to introduce the beauty of the Kingdom to the world, Saudi Arabia has approved the issuance of transit visas for a validity period of 48 hours (two day) and 96 hours (4-day), at the cost of SR100 and SR300 respectively.

The Council of Ministers has decided to amend a paragraph of the Schedule of Visit, Hajj and Transit Visas by land, sea or air in this regard, according to a report published by the official Umm Al-Qura newspaper on its website.

This decision comes in light of the Kingdom’s efforts in improving the regulations of entry visas to Saudi Arabia and allowing more foreign visitors to the Kingdom.

The Council of Ministers has approved the amendment of Paragraph 3 of the Schedule for the Structure of Visit, Hajj and Transit Visas in the following manner.

• Transit visa for visit by air, sea, or land, with a validity of 96 hours, and the duration of stay is 96 hours for a fee of SR300.

• Transit visa for visit by air, sea, or land, with a validity of 48 hours, and the period of stay is 48 hours, with a fee of SR100.

 

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Saudi Arabia Will Be Among the First Countries to Receive Covid-19 Vaccine

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As Pfizer announced the promising results of its Covid-19 vaccine, hope rose and countries are now eager more than ever to receive a share from the vaccine.

According to Abdullah Al-Assiri, assistant deputy minister for preventive health, the Kingdom will be among the first countries to receive an early supply of two or three different vaccines that are now at the last stages of clinical trials.

“Saudi Arabia will be one of the first countries to receive the vaccines,” he said during an interview on Saudia TV on Wednesday.

The minister also added that the vaccines won’t be as effective, if it doesn’t reach a great number of people.

The news follows reports that came out this week stating that another vaccine, developed by Pfizer and BioNTech has been found to be 90% effective. The vaccines are still waiting for approval from the FDA before the massive distribution to the world, but it still comes as a great glimmer of hope for this pandemic to be over.

Saudi Arabia has witnessed a great decline in coronavirus cases, as the daily number of cases dropped below 394. The Saudi Ministry of Health is urging all citizens who suffer from any COVID-19 symptoms to visit nearby clinics and test for the virus.

There up to 235 clinics across the country, and appointments for tests can be booked online.

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