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Alwaleed’s Kingdom To Book Gain From Land Sale In Q3

Kingdom Holding sold the plot in Riyadh for $66.6 million.

Saudi Almarai Q3 Profit Up 4.7%

The dairy producer’s third quarter revenue rose 27 per cent to SAR2.7 billion.

Alwaleed’s Kingdom Holding Plans Up To $500m Loan

The proceeds will be used to refinance existing debts, said sources.

Saudi Says IMF’s 2016 Deficit Forecast Is ‘Doomsday Scenario’

The IMF said its base scenario envisaged a fiscal deficit of 0.6 per cent of GDP by 2016.

GE Announces $1bn Saudi Investment

The global corporate is pumping funds into energy, healthcare and innovation in the Kingdom.

Saudi Downplays Virus Impact On Haj

Although no new cases of the virus have been detected so far, Saudi officials and the WHO are monitoring the situation.

Morocco Selects Saudi-Led Group For $1bn Solar Deal

A consortium led by Saudi International Company for Water and Power (ACWA) won the major contract.

Over 1.3m Saudis On Unemployment Benefit

The Kingdom introduced the Hafiz programme last year, which pays unemployed nationals up to SAR2,000 a month.

Saudi’s Mojil Group Eyes Disbandment As Losses Build

The Mohammed al-Mojil Group say its losses exceed three-quarters of its capital and its liabilities exceed its assets.

Saudi Arabia May Run Small Budget Deficit In 2016-IMF

The IMF also cut its forecast for Saudi’s budget surplus this year from 16.5 per cent to 12 per cent, citing oil price movements.

Saudi Aramco To Choose Refinery Contracts From Pack Of 20

The Saudi-based oil giant will see its domestic output increase to 3.5 million bpd when new refineries come online.

US Lauds Saudi Commitment To Help Moderate Oil Price

Saudi Arabia’s Oil Minister Ali al-Naimi said earlier this month that the Kingdom was prepared to meet any additional demand for oil.

Saudi Airlines Unit Picks HSBC For IPO

Saudi Ground Services has hired the bank to advise as it plans to list 30 per cent of its shares.

High Oil Price Worries Saudi, Pledges To Meet Demand

Brent crude oil prices have largely traded in a range of $112-117 a barrel since mid August.

Gulf OPEC Big Three Raise Aug Oil Output By 400,000 bpd

Combined oil output from Saudi Arabia, Kuwait and the UAE rose sharply in August.

Saudi Arabia Forces Private Firms To Up Pay

The Kingdom will no longer count workers under a mandated quota if they are paid less than the minimum wage.

Tata Motors Looks At Saudi Plant For Jaguar Land Rover

The plant may come up next to a new aluminum smelter in the Kingdom, says Tata Motors chairman.

Yemen Says Saudi To Donate $1bn To Support Currency

The money will be placed in the Yemeni central bank and will support the country’s economic recovery, a Yemeni minister said.

ENOC Announces 40 New Petrol Stations For KSA

The Kingdom’s own oil company responds to worsening revenue in the Gulf with new stations.

Saudi Deals Boosted US Arms Sales To $66.3bn In 2011

The Kingdom bought weapons worth $33.4 billion from the US last year, says new report.

Saudi Aramco Says Virus Damage Fixed; Oil Output Unaffected

A virus infected about 30,000 of the oil producer’s workstations in mid-August, forcing the company to cut off external communications.

Saudi Arabia Plans Metro System In Jeddah

The metro system, the third one planned in the Kingdom, is estimated to cost around $9.3 billion.

Biggest Banks In Saudi Arabia

Strong government regulation and hefty public spending have buoyed the Kingdom’s banking sector.

Kingdom Holding’s Prince Al Waleed Survives Car Crash

Prince Al Waleed Bin Talal, CEO of Kingdom Holding, escaped harm as his car was written off in Saudi Arabia this weekend.

Saudi Foreign Minister Undergoes Minor Surgery

The Kingdom’s Foreign Minister Prince Saud al-Faisal had a minor operation to relieve an intestinal obstruction, the royal court has said.

Top Ten Salaries in Saudi Arabia

Banking is one of the only sectors in KSA to see a dip in compensation in 2012 Salary Survey

Saudi Cuts July Oil Output To 9.8m bpd- Source

The Kingdom reportedly reduced oil output by 300,000 barrels per day from June.

Saudi Is Spending More Than It Should – IMF

The Kingdom boosted spending to a record SAR804 billion in 2011, 23 per cent higher than in 2010.

Saudi Grants Licence To Chinese Bank ICBC

The Kingdom’s cabinet has given a licence to the Industrial and Commercial Bank of China (ICBC) to open one branch in Saudi.

Olympics: Saudi Wins Bronze In Equestrian Event

The Saudi team, which included royal family member Prince Abdullah al Saud, lost out to Britain and Netherlands in the team show jumping final.