Firms violating the midday work ban will be fined SAR 10,000 ($2,665) while some could be forced to shut down, the ministry said
The government sold $5.3bn of riyal bonds to banks last week to help to cover a huge deficit caused by low oil prices
It increased its 2013 revolving credit facility by SAR400m, with National Commercial Bank and Samba Financial Group contributing equally to the extra amount
Khalid Alsweilem argues that the current arrangement is dangerous because the finance ministry can draw freely on the reserves when it wants to cover budget deficits
Many Saudis take bank loans to consolidate existing debts, according to a new report
About 30 of those detained are Saudi nationals while the other suspects hailed from Syria, Bahrain, Yemen and Pakistan
The firm said that its board approved the acquisition of a 35 per cent stake in Sukoon
Iconic developments like the under construction Kingdom Tower, set to be the world’s tallest building, are leading the trend, Colliers said
Oil prices are already under pressure, in part from an oversupply of fuels produced by refiners enjoying healthy margins from cheap crude
The seasonally adjusted Emirates NBD Saudi Arabia Purchasing Managers’ Index climbed to 57.7 points last month from 56.1 in June
Rising spending and falling oil revenues have created a state budget deficit which the International Monetary Fund projects at 20 per cent of GDP this year
Previously, customers could obtain cash advances equivalent to as much as 50 per cent of their monthly credit card spending limits
A shell reportedly fell on a house around dawn in Najran province
Private equity investments in the Middle East and North Africa rose 118 per cent last year, a new report shows
The Saudi telecom operator slashed 27 months of profits last week
The firm attributed the profit rise to higher income from its associates and joint ventures and lower costs
Lavrov is visiting Qatar to discuss about Syria, Yemen and Libya, stability in the GCC and bilateral relations
Senior members of Yemen’s exiled administration flew into Aden on July 16 to make preparations for the government’s return
Media reports said the victims included bin Laden’s half-sister along with her husband and mother
The shelling took place in Dhahran Aljanoub, a governorate in the Saudi border region of Aseer
Only 13 per cent of investment firms expect to raise their equity allocations to the Middle East in the next three months, a survey shows
The new plant is to have a processing capacity of 2.5 billion standard cubic feet per day
Authorities have reportedly arrested two people suspected of being linked to the incident
The coalition may have committed a war crime when it bombed two residential compounds, killing 65 people including 10 children, HRW said
The kingdom’s foreign minister said Tehran was intervening in its neighbours’ internal affairs
The Arab coalition fighting the Houthis had announced a five-day truce from 11:59 pm on Sunday to allow in emergency aid
The al-Anad base, 50 km from Aden, has been held by the Iranian-allied Houthi movement
Section of public beach closed off as King Salman vacations at his villa in southern France
News of the ceasefire came after 80 people were killed in an air strike on the central Yemeni city of Taiz
The kingdom has emphasised that Hamas delegation’s visit to Saudi Arabia was religious rather than political