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Saudi Arabia

Saudi businessman Amr Dabbagh, two consultants released from detention

Princes, top officials and businessmen were detained in a corruption crackdown in November 2017

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Brazilian poultry firm BRF aims to restore Saudi exports in three months

One of BRF’s plants lost its certification to export to the kingdom

US officials say Saudi sisters found dead in New York river ‘committed suicide’

Rotana Farea, 23, and Tala Farea, 16 were found dead in October last year

Saudi billionaire Prince Alwaleed’s firm supports Uber-Careem merger

Kingdom Holding holds a stake in Dubai-based car hailing app Careem

Saudi aims to rank among world’s top 10 entertainment destinations

The kingdom plans to host auto races, magic shows and theatrical performances this year

Saudi Aramco eyes multi-billion-dollar US gas acquisitions – CEO

Aramco already owns Motiva, the biggest U.S. oil refinery

Saudi’s Red Sea project masterplan gets board approval, eyes 2030 completion

The approved master plan will see 22 islands developed offering over 10,000 hotel rooms

Saudi’s largest lender NCB posts 3.5% rise in Q4 profit

The bank, which is in merger talks with Riyad Bank, made a net profit of SAR2.65bn in Q4

Saudi sells over SAR7bn sukuk in monthly issue

The kingdom’s finance ministry issued SAR5.37bn ($1.43bn) in domestic sukuk

Saudi sacks head of civil aviation authority GACA

Abdulhakim bin Mohammed bin Suleiman Al-Tamimi was appointed to the post in June 2017

Saudi government says 99% of private sector contractors paid within 60 days

The kingdom’s finance ministry says it remains committed to making payments on time

Saudi Alhokair’s mall unit plans IPO launch in Q2

Arabian Centres Company has applied for an IPO with the Capital Market Authority

Saudi landlords go to court after several expats ‘shut shop’ and leave

The shops were leased by Saudi nationals and illegally run by expatriates on a profit sharing basis, according to reports

Over one million expected to visit Saudi’s first ‘global village’ in Jeddah

The festival will run for a month at Jeddah’s waterfront with pavilions from roughly 50 countries

Lower VAT threshold to increase taxpayer base by 150,000 in Saudi – KPMG

From January 1, 2019 those with revenues of between SAR375,000 and SAR1m will also be subject to the tax

Saudi police arrest expat who made $3.7m through ‘sorcery’ scam

The man reportedly duped people by telling them that he would double their money using sorcery

Cryptocurrency, SME platform among initiatives launched by Saudi-UAE alliance

The seven new measures cover integration in the fields of financial markets, tourism, aviation, entrepreneurship, customs and security

Saudi plans oil refinery, petrochemicals plant in South Africa

The kingdom already supplies 40 per cent of the crude oil consumed in South Africa

Saudi pumps money into once-restive Awamiya district

The kingdom has spent over $60m to rebuild al-Musawara and another $230m to compensate residents for hundreds of razed homes

Saudi Aramco hires Japan’s SMBC, Riyad Bank for Amiral project financing

Amiral is a petrochemical project that Aramco plans to develop with France’s Total

Two Saudis executed on murder charges

Saudi uses the death penalty for several offences including murder, drug-related crimes and terrorism

Saudi’s NCB set to pick JPMorgan to advise on bank merger talks

Saudi’s biggest lender is holding merger talks with smaller rival Riyad Bank

Saudi’s Samba bank 2018 profit up 10%, meets forecasts

The bank attributed its increase in profit to a rise in net special commission income

Saudi to begin construction at $500bn NEOM development in 2019

The work on the first phase of NEOM Bay, an urban project, will be completed in 2020

Saudi to provide cash incentives to private sector employers to hire locals

The government will offer support for Saudi employees earning between SAR4,000 and SAR10,000 per month

Saudi sees domestic energy use falling due to hike in gas, power prices

The kingdom is also investing heavily in its renewable energy sector

US’s Pompeo: Saudis assured me of accountability for Khashoggi murder

During meetings lasting 80 minutes total, Pompeo said he had raised human rights issues and discussed Yemen

Saudi foreign ministry denies reopening Damascus embassy

The UAE re-opened its embassy in Damascus last month

Drone users in Saudi now require permits to operate them

Drones need to be registered for commercial as well as personal usage

Saudi’s Riyad Bank selects Goldman to advise on merger talks with NCB

A merger between the banks would create a combined bank holding $183bn in assets