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Saudi Arabia

Saudi’s economy grows at its fastest rate since early 2016 in Q3

Gross domestic product grew 2.5 per cent from a year earlier

Saudi Real Estate Refinance Co sets up $2.9bn sukuk programme

SRC aims to accelerate housing construction by injecting liquidity into the real estate market

Saudi Aramco creates fuel retail subsidiary

Saudi Aramco Retail Co will create a network of filling stations within Saudi Arabia to sell automotive fuel

New allegations against Ghosn concern payments to Saudi businessman, say sources

Japanese prosecutors arrested Ghosn for a third time last week, in a case that has rocked the auto industry

Electronic visa for Umrah available now

Saudi Arabia set to attract 30 million pilgrims by 2030

The Hajj Ministry and the General Authority of Civil Aviation have agreed to partner to provide better air transport services to pilgrims

Saudi Ports Authority to reduce charges at Jubail Port

The authority will cut charges on import empty containers and increase amount of storage free days

Saudi’s SAFCO seeks banks for acquisition of SABIC stakes in agri businesses

Saudi Arabia Fertilizers wants to buy SABIC stakes in five agri-nutrients businesses

Saudi Riyad bank shares rally after it begins merger talks with NCB

Analysts said Riyad could benefit from NCB’s strong balance sheet

Saudi to appoint new private-sector operator for Jeddah airport in 2019

Saudi’s aviation authority GACA terminated an agreement with a consortium led by Singapore’s Changi Airport in February

Saudi Arabia’s biggest bank NCB in merger talks with rival Riyad

Both banks have a common shareholder in sovereign fund Public Investment Fund

Saudi overtakes Russia as China’s largest crude oil supplier in Nov

Saudi, the world’s biggest oil exporter, is trying to expand its market share in China this year

Saudi’s flyadeal signs $5.9bn deal for up to 50 Boeing 737 MAX jets

The airline committed to ordering 30 airplanes with options for 20 more

Saudi bank stocks plunge on tax payments, Wall Street’s decline weighs on GCC markets

Saudi banks said they had reached a deal with tax authorities to resolve a dispute that would still result in big one-off payments

Two Saudis become kingdom’s first certified female firefighters

The kingdom is seeking to increase female participation in the workforce

Saudi prince Talal bin Abdulaziz dies

The 87-year-old, father of billionaire investor Alwaleed bin Talal, had been ill for several years

Saudi to issue SAR120bn of bonds in 2019

The government unveiled a SAR1.11 trillion ($295bn) budget on Tuesday, the kingdom’s largest ever

Saudi says ‘comfortable’ with oil prices as it reveals its largest ever budget

The kingdom expects cash settlements from its anti-corruption purge to generate roughly SAR50bn in 2019

UAE, Bahrain follow US move to raise interest rates

The US Federal Reserve Board decided to hike rates by 25 basis points

Riyadh Metro to boost real estate activity in Saudi capital

The metro project is slated to begin operations next year

Foreign investment in Saudi more than doubled in 2018

Five sectors of the Saudi economy are prepared for privatisation in the first quarter of 2019

Saudi minister: No plan to change expat fee policy

The private sector has lobbied for the fee rises to be delayed

Saudi warns of fines, suspension for firms that fail to provide health insurance

All private sector companies are required to provide health insurance to their Saudi and expat employees as well as their dependants

Saudi social media users call for boycott of Turkish products

A number of hashtags call for Saudi consumers to reject Turkish products

Saudi boosts spending in 2019 budget to spur sluggish economy

Spending is projected to rise to SAR1.106 trillion ($295bn) next year

Saudi to open e-visa service to tourists

The system was successfully tested during last weekend’s Formula E event outside Riyadh

Saudi King orders extension of ‘cost of living allowance’ for another year

The allowance is given to state employees, military personnel, retirees and students to offset rising costs

Over 900 ex-govt staff still have official power after being fired – Saudi anti-corruption body

Serious violations were discovered by Nazaha in a number of government departments

Saudi officials warn of thunderstorms, rainfall in Hail

Residents have been urged to stay away from valleys and streams

Saudi limits 41 job roles to its citizens in Madinah

The ruling covers NGOs, as well as jobs in the retail, hospitality and tourism sectors

‘World’s first’ women-only trampoline park opens in Saudi

For safety reasons, traditional Islamic headdress the abaya cannot be worn while jumping