The ratings agency downgraded Saudi Arabia’s long-term issuer rating by one notch
The kingdom’s plan requires tens of billions of dollars of fresh revenue from the private sector
Saudi Arabia is expected to sell up to 5 per cent of Aramco via an IPO
A new approach to the project was outlined in the Vision 2030 package of economic reforms
The committee’s chairman said there were not enough workers for companies to reach the current target
Earlier this month, workers at the company set fire to buses after more than 50,000 were laid off
The new tax would be equivalent to 2.5 per cent of the value of the land
Khalid al-Falih replaced veteran oil minister Ali Al Naimi on Saturday
The kingdom’s bank resolution draft law is unlikely to reduce support for lenders
Ahmed al-Kholifey was appointed SAMA governor on Saturday
Khaled al-Falih has replaced 80-year-old oil minister Ali al-Naimi
No civilians or security forces were killed or wounded
The 31-year-old son of King Salman hopes to modernise the kingdom’s economy
Currency speculators have put pressure on the riyal in recent months due to the country’s projected budget deficit in 2016
The company was suspended from obtaining new government contracts last year
Tadawul announced last month that it planned to open the new exchange next year in a bid to improve access to capital
Hussain Alshammasi details the debate underway in the kingdom as it seeks to rein in water and fuel subsidies
Reforms announced on Tuesday suggested authorities are now courting foreign money more aggressively
On Monday, al-Watan newspaper reported that Binladin had laid off about 77,000 foreign workers
The park is designed to boost the kingdom’s knowledge economy and create jobs
Previously, qualified institutions could only own a maximum of 5 per cent of any listed company
John Brennan says secret parts of the report could be misinterpreted if released for public scrutiny
Between 12,000 and 17,000 Saudi employees are expected to be laid off
In March, the ministry signed memorandums with South Korea to develop 100,000 housing units
A 5 per cent VAT rate will be introduced across the GCC in the coming years
Proposal was made at a Gulf Cooperation Council municipalities conference in Qatar
The Saudi government has recently been driving employment of locals in the private sector
Binladin Group employees also say they have not been paid for six months
The assistance to the families, in the form of land, villas, apartments or financing, will be extended over a year
The company employs 200,000 people, according to its LinkedIn page