Monthly Archives: August 2013

Expats rise as rupee falls: Indians taking loans to send money home

Some Indian expats have started taking personal loans from banks and approached their respective companies for borrowings in a bid to take advantage of a record fall in the value of the Indian rupee against the Saudi riyal. “The Indian rupee touched an all-time low of 16.38 against Saudi riyal and 63.13 against the US dollar on Monday,” said Farid Khan, a local banker.

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SR26bn phosphate plant to shore up KSA exports

SR26bn phosphate plant to shore up KSA exports

The Saudi Arabian Mining Company (Maaden) on Monday announced the signing of a shareholders agreement to jointly develop an SR26 billion fully integrated phosphate production facility in Saudi Arabia with partners — The Mosaic Company and the Saudi Basic Industries Corporation (SABIC).

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