MCI

Saudi government issues guidelines for licensing businesses

Riyadh - Arabs Today

The Saudi Ministry of Commerce and Investment (MCI) on Tuesday issued new guidelines for licensing businesses, including procedures required for licensing 274 commercial activities under the supervision of 26 government authorities, in a step that would develop the business environment in the kingdom. There are confirmations that this guide will be regularly updated for the purpose of assimilating all activitiesRead more

Saudi female inspectors hired

Riyadh - Muslimchronicle

For the first time in its annals, the Ministry of Commerce (MCI) and Investment successfully conducted field inspections carried out by Saudi women in women-only shops in Makkah and Madinah during the Hajj. According to an official from the ministry, the women were deployed to inspect the markets and monitor violations, if any. The women carried out the functions andRead more

Violators in gold, jewelry shops face two years jail

Riyadh - Muslimchronicle

The Ministry of Commerce and Investment (MCI) announced that it has detected 128 violations among gold and jewelry shops, and some of the violators will face a two-year jail term and a fine of SR400,000 ($106,658). Last week, the ministry carried out 2,670 inspections on gold and jewelry shops in different regions of the Kingdom. According to a ministry official,Read more

Saudi commerce minister seeks elimination of commercial cover-up schemes

RIYADH - Arab Today

Commerce and Investment Minister Majid Al-Qassabi urged delegates at a workshop to help eliminate commercial cover-up to improve national economy and create new jobs for Saudis. Al-Qassabi was speaking at a brainstorming workshop held here on Tuesday to discuss the commercial cover-up issue and solutions to eliminate the phenomenon. The workshop, sponsored by the Ministry of Commerce and Investment (MCI),Read more

19,100 counterfeit printer cartridges worth SR1.3 million seized

RIYADH - Arab Today

A total of 19,100 counterfeit printer toner cartridges worth SR1.3 million ($346,000) were this week seized from a warehouse in Riyadh, and the owner of a shop arrested, authorities have said. The field inspection team of the Ministry of Commerce and Investment (MCI) found the fake items, which were ready for sale, during a raid on the large warehouse, whichRead more

KSA discusses changes to bankruptcy laws

Jeddah - Arab Today

A series of workshops are being held in Saudi Arabia seeking public opinion on proposed changes in its bankruptcy laws. The workshops coincide with the Ministry of Commerce and Investment’s (MCI) plans to overhaul the bankruptcy laws. In one such workshop organized by the MCI and attended by specialists and representatives of government agencies on Thursday, there were presentations explainingRead more

182,000 products seized during pilgrimage

Riyadh - Arab Today

Authorities have seized more than 182,000 expired and counterfeit food and consumer goods from Makkah, Madinah, Muzdalifah, Mina and Arafat during the Haj season. An official from the Ministry of Commerce and Investment (MCI) said that the seized goods were not in conformity to the standard specifications. The ministry launched an inspection campaign before the Haj season to ensure adequateRead more

Orange in tie-up talks with Iranian telecom titan

San Francisco - AFP

French telecom giant Orange SA is in early talks about buying into Iran's biggest cellular network operator, the Wall Street Journal reported. Such a deal could make history as the first time a Western firm has acquired a significant holding in a major Iranian company since Tehran agreed to curb its nuclear program last year in exchange for the liftingRead more

Deadline for 50% Saudization in mobile phone sector ends

Riyadh - Arab Today

The Ministry of Commerce and Investment (MCI) was gearing up Monday for inspection as the deadline for 50 percent Saudization in the telecom sector ended on the 1st of Ramadan. By Sept. 3, the sector should be fully nationalized. The MCI said joint operations would be conducted in coordination with the ministries of labor and social development, municipal and ruralRead more