The Royal Commission for Riyadh City announced a partnership agreement with the King's College Taunton to open its first branch in Riyadh this year, the Saudi Press Agency reported.
King's College Riyadh will be located in the Diriyah district of the capital and will open admissions in August 2021 for pupils aged 3 to 18.
The institute will have mixed classes for boys and girls and will initially open for preschool and eventually up to Year 13.
Arabic, Islamic studies and social studies will be central components of the institute’s curriculum.
The announcement came a day after Saudi Crown Prince Mohammed bin Salman's interview with state television marking the fifth anniversary of Vision 2030.
As part of the programme, Prince Mohammed said: “Our objective is to have three universities ranked among the best 200 universities worldwide.”
Fahd bin Abdulmohsen Al Rasheed, president of the royal commission, said that the opening of the school aims to strengthen the educational sector and reflects the commitment of the commission to its partners in providing educational opportunities for Saudi and non-Saudi pupils and students.
"For those of us who studied abroad, we have spent so much money that we could have spent in our own country," Mansour Gabel, a Saudi resident, told The National.
“Parents dream of giving their children a world-class education. Universities in the kingdom have been doing really well in recent years, with two of our universities ranking in the top 200 across the world. However, [Prince Mohammed's] vision raises the bar as he is planning to create and bring the best educational institutes for the youth and future of this country. It’s really simple: this way, we spend within our country,” Mr Gabel added.
“We lacked such great opportunities growing up but I am glad my children and future generations of Saudi Arabia will be given top-tier education institutes in the country itself,” said Zainab Alwan, a Saudi resident.
Neil Crompton, the UK ambassador to Saudi Arabia, said the opening of King's College School in Riyadh was an example of strengthening relations between the countries.
"This project is an example of our firm commitment to strengthening the educational aspect between our two countries,” Mr Crompton said.
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
India squads
Test squad against Afghanistan: Rahane (c), Dhawan, Vijay, Rahul, Pujara, Karun, Saha, Ashwin, Jadeja, Kuldeep, Umesh, Shami, Pandya, Ishant, Thakur.
T20 squad against Ireland and England: Kohli (c), Dhawan, Rohit, Rahul, Raina, Pandey, Dhoni, Karthik, Chahal, Kuldeep, Sundar, Bhuvneshwar, Bumrah, Pandya, Kaul, Umesh.
ODI squad against England: Kohli (c), Dhawan, Rohit, Rahul, Shreyas, Rayudu, Dhoni, Karthik, Chahal, Kuldeep, Sundar, Bhuvneshwar, Bumrah, Pandya, Kaul, Umesh
The specs: 2019 GMC Yukon Denali
Price, base: Dh306,500
Engine: 6.2-litre V8
Transmission: 10-speed automatic
Power: 420hp @ 5,600rpm
Torque: 621Nm @ 4,100rpm
Fuel economy, combined: 12.9L / 100km
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
US households add $601bn of debt in 2019
American households borrowed another $601 billion (Dh2.2bn) in 2019, the largest yearly gain since 2007, just before the global financial crisis, according to February data from the New York Federal Reserve Bank.
Fuelled by rising mortgage debt as homebuyers continued to take advantage of low interest rates, the increase last year brought total household debt to a record high, surpassing the previous peak reached in 2008 just before the market crash, according to the report.
Following the 22nd straight quarter of growth, American household debt swelled to $14.15 trillion by the end of 2019, the New York Fed said in its quarterly report.
In the final three months of the year, new home loans jumped to their highest volume since the fourth quarter of 2005, while credit cards and auto loans also added to the increase.
The bad debt load is taking its toll on some households, and the New York Fed warned that more and more credit card borrowers — particularly young people — were falling behind on their payments.
"Younger borrowers, who are disproportionately likely to have credit cards and student loans as their primary form of debt, struggle more than others with on-time repayment," New York Fed researchers said.
COMPANY PROFILE
Name: Grubtech
Founders: Mohamed Al Fayed and Mohammed Hammedi
Launched: October 2019
Employees: 50
Financing stage: Seed round (raised $2 million)
Five personal finance podcasts from The National
To help you get started, tune into these Pocketful of Dirham episodes
·
Balance is essential to happiness, health and wealth
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What is a portfolio stress test?
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What are NFTs and why are auction houses interested?
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How gamers are getting rich by earning cryptocurrencies
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Should you buy or rent a home in the UAE?
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More from Aya Iskandarani
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Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
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Federer's 11 Wimbledon finals
2003 Beat Mark Philippoussis
2004 Beat Andy Roddick
2005 Beat Andy Roddick
2006 Beat Rafael Nadal
2007 Beat Rafael Nadal
2008 Lost to Rafael Nadal
2009 Beat Andy Roddick
2012 Beat Andy Murray
2014 Lost to Novak Djokovic
2015 Lost to Novak Djokovic
2017 Beat Marin Cilic
