Having effortlessly transitioned into acting, Fouzia's debut film swiftly captured global acclaim, earning accolades at the prestigious Cannes Film Festival
The South Korean concern is investing $500 million in the project.
Abdullah Al Othman president of King Saud University says the first car, a five-passenger model, is expected to roll out within two years. The kingdom plans to export it to the Gulf nations and north Africa.
He said in a statement on Sunday that the Wadi Al Riyadh Technology Firm, affiliated with the university, will have a 10 per cent share, while the South Korean company will put some 30 per cent. The rest will be offered to investors.
Earlier this month King Abdul Aziz City for Science and Technology also unveiled plans for launching a domestically designed and manufactured automobile.
Saudi Arabia’s economy is forecast to grow 4.2 per cent in 2011 after a 3.8 per cent expansion in 2010, driven by heavy government spending, the respected Jadwa Investment bank said on Sunday.
With buoyant crude prices and strong demand, the world’s largest supplier of oil will easily fund its budget and turn in a surplus, despite a planned seven per cent hike in spending from 2010’s original budget, the Riyadh investment bank said in a report.
And while both the state and private sectors will grow, state spending will remain the most powerful driver of the economy. —
Having effortlessly transitioned into acting, Fouzia's debut film swiftly captured global acclaim, earning accolades at the prestigious Cannes Film Festival
Parag, who reached his 50 off 34 balls, cracked 25 runs with three fours and two sixes off the final over bowled by star South Africa paceman Anrich Nortje
Fans were left scratching their heads when Mumbai opted to take Bumrah out of the attack after he bowled the fourth over
With the help of modern equipment, manicured golf courses and elite athletes the scores are getting lower and the game becoming even more captivating
With 10 matches remaining Arsenal lead a three-way title race having won eight successive games
Three separate Israeli strikes on Wednesday, including on a health centre in the border village of Habariyeh, killed 11 civilians
Netanyahu tries to soothe a rift with Biden as he plans to send a government delegation to Washington after earlier cancelling the trip
Among the 24 horses Japan has sent to Dubai is impressive Riyadh Dirt Sprint winner Remake who eyes a Middle East double