Putting up 25% of the capital shares of these companies for public subscription during 30 days of the date of publishing the royal decrees that license their establishment. 3- Authorizing the Ministry of Commerce and Industry and the Capital Market Authority to implement these decisions after coordinating with the Communication and Information Technology Commission. The Cabinet also approved licensing the three companies mentioned above to establish and operate a public fixed communication networks as well as to provide all of their services at local, regional, and international levels through their own networks. The Cabinet approved a Memorandum of Understanding in the field of Higher Education between the Ministry of Higher Education of the Kingdom of Saudi Arabia and the Ministry of Education and Human Resources Development in the Republic of Korea signed in Riyadh on 24/03/2007. The Cabinet approved two agreements on the avoidance of double taxation on income and capital and on the prevention of tax evasion between the Government of the Kingdom of Saudi Arabia and the Governments of the Republic of Italy and the Republic of South Africa signed in Riyadh on 13/03/2007 and 13/01/2007 respectively. --More
