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Saudi Housing Minister Says Aiming To Tax Undeveloped Land

The minister’s comments suggested increasing political momentum for the tax, which could provide the government with additional revenues.

Saudi Arabia Mulls Privatisation Of Major Airports

The official, however, did not specify the total number of airports in the Kingdom that will be privatised.

Saudi Oil Minister Holds Talks With US Energy Deputy

They discussed global oil markets and cooperation on energy and environmental issues, climate change and solar energy use.

Saudi’s Yansab Q4 Net Profit Rises 39.7%, Beats Forecasts

The firm made a net profit of SAR617.8 million ($164.6 million) in the fourth quarter of 2014.

Saudi Arabia, Tajikistan To Join Beijing-Backed Development Bank

The entry brings the total number of founder nations intending to join the $50-billion bank to 26, officials said.

Saudi Arabia Increases Jail Sentence For Human Rights Lawyer

Walid Abu al-Khair, founder and director of watchdog group Monitor of Human Rights in Saudi Arabia (MHRSA), was sentenced last year to 10 years in jail.

Cayan Group Launches Projects Worth Dhs1.2bn In Dubai, Riyadh

The company has purchased plots in Dubai’s Umm Suqeim area and Riyadh’s King Fahed Road to develop its latest projects.

Saudi Bank Samba Q4 Net Profit Up 22.5%, Beats Forecasts

The bank attributed its increase in net profit to a rise in total operating income, which gained 13.4 per cent.

Banque Saudi Fransi Q4 Profit Jumps After Drop In Provisions

Banque Saudi Fransi made a net profit of SAR851 million ($226.8 million) in Q4 2014, up from SAR274 million in the same period a year earlier.

Saudi’s SAFCO Q4 Net Profit Falls 3%, Misses Forecasts

SAFCO did not provide a reason for the profit drop in the Enlgish results statement.

Saudi Cleric Condemns Snowmen As Anti-Islamic

Quoting from Muslim scholars, Sheikh Munajjid argued that to build a snowman was to create an image of a human being, an action considered sinful under Islam.

Saudi Government Studying Saline Water Conversion Corp Privatisation

Local media reported that the corporation is ready for the privatisation process and for listing on the Saudi stock exchange.

Stock News: Gulf Markets May Extend Gain On Strong Q4 Results

Several regional companies published positive fourth-quarter earnings.

Venezuela’s Maduro Seeks Support From Saudi Arabia On Oil Prices

Venezuela’s international reserves have deteriorated sharply due to the tumbling oil prices which hit new lows last week below $50 per barrel.

Saudi Kayan Appoints Sabic Senior Staff Member As Chairman

Omar al-Amoudi, executive vice president of shared services at Sabic and an existing Kayan board member, took over from Mutlaq al-Morished.

Saudi’s Riyad Bank Q4 Net Profit Rises 2.9%

Operating income in the fourth quarter stood at SAR1.995 billion.

Saudi Hollandi Bank Q4 Net Profit Up 33%, Beats Forecasts

The bank cited an increase in operating income, which rose 20 per cent year-on-year, for the profit hike.

GCC Rail Projects To See Investments Worth $200bn

Rail projects across the GCC are expected to fuel intra-regional trade while helping reduce fuel consumption.

Bureaucracy Delaying Qatar Airways Launch In Saudi – CEO

The airline is expecting to begin operations in the Kingdom in the next six to 18 months.

Gulf lender GIB Launches region’s first online-only retail bank

Called “Meem” – the letter M in Arabic – the new retail banking platform will offer personal finance products and credit cards in Saudi Arabia.

Saudi Arabia Flogs Liberal Activist In Public – Amnesty

Raif Badawi, who set up the “Free Saudi Liberals” website, was arrested in June 2012 and prosecuted for offences including cyber crime and disobeying his father.

Saudi Says Arrests Seven Saudis, Syrians Over Suicide Border Attack

The government confirmed last week that three of the four attackers, who carried out a gun attack on the country’s border, were Saudi nationals.

Saudi Arabia Condemns Deadly Attack On Paris Satirical Magazine

Saudi Arabia said in a statement via its official news agency that it denounces this “cowardly terrorist act”.

Banque Saudi Fransi Says Recommends Cash Dividend For H2 2014

The bank said that it recommended a cash dividend of SAR0.5 per share ($0.13) for the second half of 2014.

Saudi British Bank Gets Nod For 50% Bonus Share Issue

The Capital Market Authority said that Saudi British Bank could issue one bonus share for every two shares held.

Saudi Retailer Jarir Posts 25.5% Q4 Net Profit Jump

The company made a net profit of SAR200.8 million($53.5 million) in the fourth quarter.

King Says Saudi Arabia To Deal With Weak Oil Challenge With ‘Firm Will’

King Abdullah said that lower prices were primarily caused by weakness in the global economy.

Saudi’s Jabal Omar Signs SAR4bn Loan Refinancing For Mecca Project

It did not give the details of the previous loan but said it was signed with six banks in June 2012.

Saudi December Non-Oil Business Growth Accelerates Slightly

The seasonally adjusted SABB HSBC Saudi Arabia Purchasing Managers’ Index rose to 57.9 points in December from 57.6 in the previous month.

UAE’s Al Jaber Group Wins Contract To Build New Airport in Saudi Arabia

The project will include a new passenger terminal covering an area of 86,000 square metres and will be built to accommodate around five million passengers annually.