Beyond The Time News

Saudi Arabia opens real estate ownership applications to non-Saudis

RIYADH: Saudi Arabia has begun accepting applications for real estate ownership by non-Saudis following the implementation of the Regulation, the Saudi Press Agency reported on Friday. The Saudi Real Estate General Authority announced the move, confirming that the regulation has officially entered into force within the Kingdom’s legislative framework. Applications will be accepted exclusively through…

Govt set to replace net metering system with net billing policy

Govt set to replace net metering system with net billing policy Solar electricity exported to grid to be credited at lower rate. Previously units imported and exported were balanced one-for-one. Got, Discos term it necessary to cover grid infrastructure costs.  LAHORE: Marking a major policy shift with wide-ranging implications, the federal government has initiated the…

Gulf investors launch $2bn arbitration case against Pakistan over KE dispute

Dispute traces back to Oct 2016, when investors agreed to sell 66.4% of K-Electric to Shanghai Electric Power Company Saudi, Kuwaiti investors file $2bn arbitration against Pakistan. K-Electric investors launch $2bn case under UNCITRAL rules. Pakistan gets 60 days to appoint arbitrator in K-Electric dispute. In a shocking development, Saudi and Kuwaiti investors in K-Electric…