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Eurozone Crisis Is Worst Global Risk

The OECD has warned that a worsening of the crisis could have “serious consequences” for the global economy.

KSA Shielded From Eurozone Crisis

Saudi Arabia’s spending is on track as the Kingdom has seen limited impact from the Eurozone fallout.

New Guidelines For Saudi Journalists

Journalists in the Kingdom have to be accredited by the Saudi Journalists Association, the Cabinet has said.

Saudi Shares Drop 2% On Global Fears

Saudi bourse and oil drops to a three month low as fears of the Eurozone crisis affect the Gulf.

Aramco Invites Bids For New Refinery

Saudi Aramco’s new refinery in Jizan will have a capacity of 400,000 barrels per day when ready.

Saudi Index Falls 10% Since April

The Kingdom’s Tadawul index has dropped on global economic fears and political instability in the Eurozone.

Oil Prices To Stay Over $100: Experts

A fall below that level will lead to a cut in Saudi’s oil output and force high-cost oil projects to shut down.

Saudi’s IDB Plans Up To $1bn Sukuk

Islamic Development Bank plans to issue the Islamic bond in June this year, its chairman has said.

GCC Union Talks Delayed

The Gulf States, which met in Riyadh on Monday, have postponed talks of a possible integration.

New Saudi Airlines Launch By Q1 2013

Saudi’s GACA says new international airline licences will be operational by April next year.

Saudi Eyes $100 Per Barrel Oil Price

The Kingdom’s oil minister Ali al-Naimi said that an oil price of $100 per barrel would be “great.”

Alwaleed’s Rotana To Shift To Bahrain

Prince Alwaleed’s upcoming news channel, Al Arab will also be headquartered in Manama.

Alwaleed Eyes New Investments

The Saudi billionaire is looking for returns of 20 to 25 per cent from the investments, he told a German paper.

Saudi Pumps 10 Million bpd Of Oil In April

Saudi also has 80 million oil barrels in storage for sudden need, the Kingdom’s oil minister Ali al-Naimi said.

Jeddah Hotels Post 30% Profit Rise In March

Hotels in the Saudi Arabian city saw average occupancy rates of 81 per cent during the month.

UAE, Saudi Pledge More Oil To South Korea

The Gulf states have assured South Korea that they will make-up for any shortfall of oil supply from Iran.

Salesmen Banned From Saudi Perfumeries

Cosmetics and perfume shops in the Kingdom will only be allowed to employ women staff from June 30.

BAE Nears Signing $800m Saudi Hawk Deal

UK defence firm BAE is close to signing a deal to sell up to 30 Hawk aircraft to Saudi Arabia, according to reports.

MENA IPOs Raise $82.8 Million In Q1 2012

The capital raised in Q1 2012 was almost four times higher than Q1 2011, but 63 per cent lower than Q4 2011.

Qataris Spend $4,100 Per Day On Travel

Compared to the rest of the world, GCC nationals on average spend 260 per cent more on airfares.

Riyadh Airport Expansion To Start In Q4 2012

Saudi Arabia expects the project to be completed in 2015, the General Authority for Civil Aviation has said.

World’s Richest Arabs Revealed

Two Arabs made it onto the Sunday Times Global 50 rich list, with a combined fortune of $39 billion.

Saudi Firms Face Fines For Excess Expats

Private companies in Saudi who hire expatriates in excess over the number of Saudi employees will have to start paying penalties.

Saudi To Award New Airline Licences

The Kingdom will grant new airlines licences in September to operate both locally and internationally.

Top Arab Spenders At Heathrow

London’s Heathrow Airport found that Saudi visitors were the Middle East’s biggest spenders in 2011.

Saudi To Build 85,000 New Homes By 2015

The new units are being developed by Saudi’s housing ministry as part of a larger affordable housing strategy.

Kingdom Holding Records 11.3% Q1 Profit Rise

Prince Alwaleed’s Kingdom Holding Company said that net income during the first quarter of the year reached SR100.8 million.

Saudi Booms But Closing Deals Is Challenging

While experts say the Kingdom is the best performing market in the region, they also warn investors to be patient while doing deals.

Banque Saudi Fransi sets up $2bn Sukuk

The bank reported a ten per cent year-on-year rise in first quarter profit earlier this year.

SABIC Sees Drop In Q1 Profit

Saudi Basic Industries Corp recorded a five per cent year-on-year fall in net profit during the first quarter of the year.