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Saudi Arabia

Saudi energy minister still expects Aramco IPO in 2018

Saudi plans to sell up to 5 per cent of the company in what could be the world’s largest IPO

E-commerce site Noon to focus on fashion, will launch large private label

The online shopping platform is set to launch this month

Saudi to cut up to $20bn of projects

The Saudi government has hired PwC to find cost savings, according to reports

Inbreeding costing Saudi millions of riyals – official

Marriage between relatives are still common in the kingdom

India’s Haj pilgrim quota increased by 25%

The new quota follows the lifting of limits imposed due to construction work at Saudi’s holy sites

Saudi’s flynas to buy Airbus aircraft worth $8.6bn

The first batch of aircraft will be received early in 2018

Saudi bourse aims to extend trading settlement time before MSCI review

MSCI will decide in June whether to review Saudi for inclusion in its emerging market index

OPEC+meeting

Saudi Arabia officially names new OPEC governor

Adeeb al-Aama replaces Mohammed al-Madi

Removal of Saudi pilgrim limits to compensate for $16bn of losses – official

Limits were placed on domestic and international pilgrims to undertake expansion work at the kingdom’s holy mosques

Saudi introduces one-day business visa processing

The new electronic system is designed to boost investment in the kingdom

Airbus finalises deal to sell more than 60 jets to Saudi’s flynas

An order for 60 A320neos would be worth $6.4bn at list prices

HSBC to advise Saudi on privatising management of school buildings

Tatweer Buildings aims to begin offering public-private partnerships for school buildings this year

Etihad to launch third daily flight to Riyadh

The new service will be operated with an Airbus A320 aircraft

Lebanon’s Aoun begins two-day Saudi visit

The two-day visit is deemed crucial for enhancing bilateral ties between the two countries

Saudi pushes ahead with plans to turn Taif into summer resort

Makkah governor Prince Khaled Al-Faisal has pushed for work to go ahead

Saudi housemaid recruitment fees to drop by a fifth

Sourcing deals with African countries are expected to lead to a slide in recruitment prices

Saudi telecom operator Mobily appoints new CEO

Ahmed Abdelsalam Abdelrahman will replace Ahmad Farroukh

Saudi bourse to start T+2 settlement in Q2

The move is part of a drive to attract more foreign investment

Iran receives Saudi invitation to discuss haj arrangements

Iran boycotted the haj last year after hundreds died in a crush at the 2015 pilgrimage

Saudia Airlines appoints new chairman in management shake-up

Ghassan bin Abdulrahman al-Shabal will replace Sulaiman al-Hamdan

Saudi retailer Jarir Marketing posts 3.5% rise in Q4 profit

The improvement was due to rising demand for electronic items, mainly smart phones

New fees for Saudi expats’ dependents payable from July

The fees will start at SAR100 for each individual per month

Citizens fund open to Saudis earning less than $5,599 a month from Feb

The new social assistance scheme is designed to reduce the impact of subsidy reductions on citizens.

Saudi ATMs refusing to accept new currency

The new currency to mark the era of King Salman was unveiled by the Saudi Arabian Monetary Authority on December 14

Saudi security forces say two ‘terrorists’ killed in Riyadh

The men were traced to a house in Riyadh’s Yasmeen neighbourhood

Saudi prince Mohammed readies strategy if clerics oppose reforms

Saudi Vision 2030’s goals to empower women, promote sports and invest in entertainment are controversial

Saudi body rules on insider trading in Mobily shares

Those found guilty face potential jail terms of between one and two years

Saudi Aramco mulls oil supply cuts of 3-7% in Feb to meet OPEC target

Saudi has agreed to cut output by 486,000 barrels per day

Saudi central bank lifts home buyers’ bank loan-to-value ratio to 85%

The move will apply to purchases of first homes by Saudi citizens

Saudi says soft drink, tobacco tax yet to be implemented

The new taxes are at least three months from being implemented