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Gulf Business gears up for debut Saudi summit on 3 September

The discussions will cover key themes relevant to any business aiming to operate or expand within Saudi Arabia

How Did Saudi Real Estate Perform in 2013?

Massive government spending is driving Saudi Arabian real estate growth, says Dr. Tobias Plate, senior partner at Roland Berger Strategy Consultants Middle East.

Prince Alwaleed’s Twitter Stake Value Jumps To $1.2bn

Alwaleed’s Kingdom Holding bought a $300 million stake in Twitter in December 2011.

Saudi Ma’aden Restarts Aluminium Plant Production Line

The $10.8-billion aluminium plant at Ras al-Khair shut one of its smelting lines in mid October.

Saudi Reports 4 New Cases Of MERS Virus, 1 Fatal

The new infections bring the worldwide total of confirmed cases to 170 with 72 deaths, the WHO said.

Saudi Ma’aden Secures $4.2bn For Phosphate Project

The $7 billion project in city of Waad al-Shimal is a joint venture between Ma’aden, Saudi Basic Industries Corp and Mosaic.

Saudi Arabia Needs $85 Brent To Balance 2014 Budget

Brent is forecast to average $104 next year, down from about $110 in 2013, Jadwa said.

Saudi Firm Ma’aden Awards $2.25bn Of Work On Phosphate Project

The contracts were awarded to Canadian and Asian companies concerning its new phosphate mining and production project.

Saudi Arabia Sets Modest Spending Rise In 2014 Budget Plan

Next year’s 4.3 per cent rise in planned spending is far smaller than the 19 per cent leap envisaged by the 2013 budget plan.

Saudi King Appoints Son To Head Mecca Province

Prince Mishaal replaces Prince Khaled al-Faisal, who has been made education minister.

Saudi Oil Minister Says Market Fears Oil Shortages

Al- Naimi played down any suggestion the Kingdom was ready to cut production to accommodate increased supply.

Saudi Deportations Leave Broken Dreams In Africa, Asia

More than a million immigrants from across the world have left Saudi Arabia since March.

US Burger Chain Steak ‘n Shake To Launch In Saudi

The company plans to open 50 restaurants across the Kingdom in the coming years.

Houston Exhibit Shows Antiquities From Saudi Arabia

Roads of Arabia, which runs through March 9, features tools, steles, incense burners, statues and other pieces from the Kingdom.

Saudi’s SEC Signs $366m Japanese-Backed Loan For Jeddah Power Plant

The facility, funded by Bank of Tokyo-Mitsubishi UFJ and Mizuho Financial Group, is part of a wider $2 billion finance package for the Jeddah South project.

Saudi British Bank Prices SAR1.5bn Capital-Boosting Sukuk

The Islamic bond has a lifespan of seven years, with a clause allowing the bank to redeem the paper after five years.

Saudi Minister Says Nitaqat Hiked Nationalisation By 15%

Around 723,000 Saudi nationals have been employed through the Nitaqat system.

Two Saudis Back From Guantanamo Face ‘Rehab’ For Militants

Muhammad Husayn Qahtani and Hamood Abdulla Hamood were repatriated after spending 11 years in Guantanamo.

Surging Saudi Fuel Use A Bigger Threat Than US Shale Oil

The growing domestic demand for hydrocarbons, exacerbated by low prices, is the key long-term challenge faced by the Kingdom, said Jadwa Bank.

Saudi Hollandi Bank Plans Bonus Share Issue

The lender plans to boost its share capital to SAR4.76 billion to help support its growth and capital base.

Saudi Developer ACWA Signs $472m Bridge-To-Sukuk Financing

The loan will act as a bridge financing until the company launches a sukuk issue in 2014.

Saudi Activist Sentenced To Lashes And Prison – Rights Group

Omar al-Saeed is reportedly the fourth member of the Saudi Civil and Political Rights Association (ACPRA) to be jailed this year.

Saudi PetroRabigh Says Marketing Fee Deal To Boost Revenue

The petrochemical company is a joint venture between oil giant Saudi Aramco and Sumitomo Chemical.

ADCB, Emaar Among UAE’s Favourite Stocks

MubasherTrade report forecasts low-to-mid-single digit economic growth rates in the Middle East in 2014.

Ethiopian Workers Return From Saudi Arabia Telling of Abuse

Over 100,000 Ethiopians repatriated from Saudi Arabia since the Kingdom began deporting illegal migrants in November.

Saudi Religious Leader Condemns Suicide Attacks

Saudi Arabia’s Grand Mufti condemned suicide bombings as grave crimes.

Saudi Online Consumer Habits Increase Risks For Banks

Despite experiencing cyber attacks, the majority of Saudi Arabian consumers have not installed anti-virus software on their systems.

Saudi Aramco Said to Supply Full January Crude Volume to Europe

Aramco has the option to reduce monthly sales volumes to term buyers.

Saudi Group Eyes Stake Sale In Petromin After Partner Buyout

Dabbagh Group is planning to sell a 19 per cent stake in its lubricant business, say sources.

Saudi’s Alkhabeer Buys Majority Stake In UAE Packaging Firm

Jeddah-based Alkhabeer Capital did not disclose financial details of its purchase into Dubai’s Express Group.

Iran, Saudi Strategists Spar, Swap Ideas, Over Gulf Security

A meeting of military officers, diplomats and analysts took place during a security conference in Bahrain last weekend.