The company will supply gas and steam turbines and other equipment for the upcoming Jazan power plant.
Despite a rise in raw material prices, the Kingdom’s non-oil sector has seen slight growth.
As the peak season for hospitality winds down, average occupancy across UAE and Saudi hotels witness a slight decline.
It was not clear whether Bashir was on his way to the inauguration of Iranian President Hassan Rouhani.
Hyundai Heavy Industries will build a power plant with 2,640 megawatts of capacity in Shuqaiq.
Last week the government awarded $22.5 billion in contracts to three foreign-led consortia for the metro system.
BAE has been locked in pricing negotiations with Saudi Arabia over the Gulf state’s order of 72 jets since 2007.
A British court ordered the Prince to pay a $10-million commission to Daad Sharab, who brokered the sale of the jet.
Raif Badawi, who started the ‘Free Social Liberals’ website to discuss the role of religion in Saudi Arabia, was sentenced on Tuesday.
Despite a bullish outlook on sales growth by MENA CEOs, employment levels are expected to remain flat with businesses adopting a cautious approach.
Raif Badawi started the “Free Saudi Liberals” website to discuss the role of religion in Saudi Arabia.
Six rail lines carrying electric, driverless trains and extending 176 kilometres in Riyadh are to be completed by 2019.
The firm’s attributable net income from the deal will equal around 29 per cent of the $4.9 billion estimated for civil works.
In an open letter to Oil Minister Ali al-Naimi, Prince Alwaleed said oil demand from OPEC states was declining.
The project is the world’s largest public transport system currently under development, said Saudi officials.
A growing population and increased consumer spending are expected to drive the Kingdom’s food and agricultural sectors.
Officials attribute the low visitor numbers to lack of adequate tourism promotion.
Survey finds that male salary levels fell by SAR 371, while female salaries dropped by SAR 211.
The death toll from the SARS-like virus in the Kingdom has now reached 39.
The latest developments in fracking technology will not affect GCC oil demand negatively.
The plant is estimated to have a processing capacity of 1 billion standard cubic feet per day of sour gas.
The Kingdom’s private sector may be unable to accommodate all the Saudi nationals who are unemployed.
The offering, which is not imminent, is likely to be denominated in Saudi riyals.
Land Cruiser leads the sales in the SUV category while Prado and Rav4 also has recorded considerable growth in H1 2013.
The funds from the KIngdom were given in the form of a five-year interest-free deposit at Egypt’s central bank.
SABIC’s net income for the three months to June 30 was 6.04 billion Saudi riyals compared with 5.3 billion riyals in the same period last year.
Net profit for the first six months of 2013 was 291.3 million riyals, 4.1 per cent up on the 279.7 million riyals made last year.
Gulf Arab oil producers have promised aid packages worth $12 billion to Egypt since the overthrow of president Mohamed Mursi.
The new legislation protects maids and drivers but also punishes them for breaking their contracts.
The telecoms operator made a second-quarter net profit of 1.61 billion riyals, up from 1.42 billion riyals in the same period a year earlier.