عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi-British Cooperation to Develop Innovation

General view in Riyadh, Saudi Arabia, June 21 2020. REUTERS/Ahmed Yosri
General view in Riyadh, Saudi Arabia, June 21 2020. REUTERS/Ahmed Yosri
TT
TT

Saudi-British Cooperation to Develop Innovation

General view in Riyadh, Saudi Arabia, June 21 2020. REUTERS/Ahmed Yosri
General view in Riyadh, Saudi Arabia, June 21 2020. REUTERS/Ahmed Yosri

A Saudi-British meeting held in London concluded on Thursday by agreeing on strengthening cooperation between the two countries in the fields of research, development, and innovation.

The meeting was held between the Chairman of the Board of Directors of King Abdulaziz City for Science and Technology (KACST), the Chairman of the Board of Directors of the Research, Development, and Innovation Development Authority, Eng. Abdullah bin Amer Al-Sawaha, and the Chairman of the Board of Directors of the United Kingdom Research and Innovation Corporation (UKRI), Andrew Stewart McKenzie, and some of the research institution’s officials.

The Saudi delegation’s visit to London comes as part of the Kingdom’s efforts to build international partnerships on research, development and innovation.

The Kingdom seeks to turn the research, development, and innovation sector into a driver for meeting the objectives of Vision 2030.

Most Viewed

 
 
Business

Egypt's Net Foreign Assets Slid in October

A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)
A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)
TT
TT

Egypt's Net Foreign Assets Slid in October

A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)
A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)

Egypt's net foreign assets (NFAs) dropped by $1.12 billion in October after a rise in September, central bank data shows.

NFAs declined to the equivalent of $9.21 billion at the end of October from $10.33 billion at the end of September, according to Reuters calculations based on the official central bank currency rates. The decline followed a $591 million gain in September.

Egypt had been using NFAs, which include foreign assets at both the central bank and commercial banks, to help to prop up its currency since as long ago as September 2021.

NFAs turned negative in February 2022 and only returned to positive territory in May this year.

Foreign assets rose at the central bank in October but dipped at commercial banks while foreign liabilities climbed at both commercial banks and the central bank.