حبيـ M ـبها
06-04-2005, 12:58 AM
تاكيد للخبر اللي انشره احد الاعضاء ..
05 April 2005
JEDDAH -- Citizens of the Gulf Cooperation Council states will be given equal treatment in purchasing and exchanging Saudi stocks, including shares of banks, insurance companies and real estate firms, the Saudi Press Agency said yesterday quoting Culture and Information Minister Iyad Madani.
The weekly Cabinet meeting, chaired by Custodian of the Two Holy Mosques King Fahd, yesterday gave the go-ahead to implement a GCC summit decision that calls for equal treatment to GCC citizens in owning and exchanging stocks and establishing companies.
The Cabinet instructed the Financial Market Authority to coordinate with related departments to execute the Doha summit resolution, which was adopted two years ago. "The Commerce and Industry Ministry will coordinate with Saudi Arabian Monetary Agency in the area of providing equal treatment in establishing companies including insurance firms and banks," the agency said.
The Cabinet decided to implement another GCC summit decision which demands equal treatment of citizens from member countries -- Saudi Arabia, Qatar, Bahrain, Oman, Kuwait and the United Arab Emirates -- in social insurance and pension as well as in jobs in the private sector.
The meeting authorized the minister of commerce and industry to issue regulations for protecting secret information in the light of international agreements. The new bylaw, which must be ready within two years, will include punitive measures against violators.
The Cabinet appointed Abdul Aziz ibn Suleiman Shabeeb as legal adviser at the Presidency of Scientific Research & Religious Edicts, Abdullah ibn Abdul Kareem Al-Eisa, assistant Interior Ministry undersecretary for security affairs, Fahd ibn Abdullah Al-Zuhair director of Haj Ministry's branch office in Madinah, Dr. Abdul Wahab ibn Abdullah Baghdadi director of the Haj minister's office and Muhammad ibn Abdullah Al-Subaie assistant undersecretary at the Health Ministry for laboratory affairs.
Meanwhile, Amr Al-Dabbagh, governor of the Saudi Arabian General Investment Authority (SAGIA), said the new judicial system approved by King Fahd would improve investment climate in the Kingdom. The new law provides for the establishment of a supreme court as well as specialized courts for settling labor and commercial disputes.
"The new law will have a positive impact in terms of attracting investment and ensuring transparency and protection for local as well as foreign investments," he said, adding that the law has removed one of the major obstacles to investments.
P.K. Abdul Ghafour
تحياتي لكم
05 April 2005
JEDDAH -- Citizens of the Gulf Cooperation Council states will be given equal treatment in purchasing and exchanging Saudi stocks, including shares of banks, insurance companies and real estate firms, the Saudi Press Agency said yesterday quoting Culture and Information Minister Iyad Madani.
The weekly Cabinet meeting, chaired by Custodian of the Two Holy Mosques King Fahd, yesterday gave the go-ahead to implement a GCC summit decision that calls for equal treatment to GCC citizens in owning and exchanging stocks and establishing companies.
The Cabinet instructed the Financial Market Authority to coordinate with related departments to execute the Doha summit resolution, which was adopted two years ago. "The Commerce and Industry Ministry will coordinate with Saudi Arabian Monetary Agency in the area of providing equal treatment in establishing companies including insurance firms and banks," the agency said.
The Cabinet decided to implement another GCC summit decision which demands equal treatment of citizens from member countries -- Saudi Arabia, Qatar, Bahrain, Oman, Kuwait and the United Arab Emirates -- in social insurance and pension as well as in jobs in the private sector.
The meeting authorized the minister of commerce and industry to issue regulations for protecting secret information in the light of international agreements. The new bylaw, which must be ready within two years, will include punitive measures against violators.
The Cabinet appointed Abdul Aziz ibn Suleiman Shabeeb as legal adviser at the Presidency of Scientific Research & Religious Edicts, Abdullah ibn Abdul Kareem Al-Eisa, assistant Interior Ministry undersecretary for security affairs, Fahd ibn Abdullah Al-Zuhair director of Haj Ministry's branch office in Madinah, Dr. Abdul Wahab ibn Abdullah Baghdadi director of the Haj minister's office and Muhammad ibn Abdullah Al-Subaie assistant undersecretary at the Health Ministry for laboratory affairs.
Meanwhile, Amr Al-Dabbagh, governor of the Saudi Arabian General Investment Authority (SAGIA), said the new judicial system approved by King Fahd would improve investment climate in the Kingdom. The new law provides for the establishment of a supreme court as well as specialized courts for settling labor and commercial disputes.
"The new law will have a positive impact in terms of attracting investment and ensuring transparency and protection for local as well as foreign investments," he said, adding that the law has removed one of the major obstacles to investments.
P.K. Abdul Ghafour
تحياتي لكم