The Kingdom also slashed its crude prices for Europe, as oil demand weakens.
The British defence contractor said that it had signed a contract to build 48 Typhoon aircraft for the Saudi Arabian air force.
The opening up of the Kingdom’s stock market to foreigners will be gradual, Saudi Arabia’s capital market regulator has said.
A majority of the Shoura Council members agreed that imposing an income tax on expatriate workers would be “untenable.”
Saudi Electricity Company will use the amount, loaned by a group of international banks, to build a power plant in Rabigh.
The oil supply from the OPEC nations in March this year increased to its highest level since October 2008.
The number of beneficiaries has risen by 170 per cent from December 2011.
The Kingdom is planning to spend more than $100 billion to establish 16 nuclear energy plants in the country.
The hotel group targets to have 100 hotels either operating or under construction in the region by 2015.
Apple tops the global top brands list, which also includes the three entries from the GCC.
The Kingdom’s oil exports rose 143,000 barrels per day in January compared to December, according to the Joint Data Initiative.
The indebted telco has appointed Fraser Curley as chief executive, its third CEO in six months.
The region’s hydrocarbon reserves account for almost a third of the world’s reserves, says QNB Capital.
The bank has reportedly applied for a full commercial banking licence to expand its operations in the kingdom.
The kingdom’s annual inflation rate reached a 14-month high in February mainly because of increasing food and housing costs.
The region’s representatives on Forbes’ annual list of the World’s Billionaires have a combined net worth of $65.4 billion.
The issuance of Islamic bonds in the region could reach over $14 billion this year because of increasing investor demand, according to HSBC.
The Saudi Arabia-based telecoms operator is keen to build a domestic partnership with a mobile virtual network operator.
The kingdom’s foreign trade revenue amounted to SR1300 billion in 2011 and is set to rise by 14 per cent this year.
Saudi Arabia has increased the price of its Arab Light crude oil for customers in Asia by $1.25 a barrel for April.
Hotels in Dubai and Jeddah saw occupancy levels rising in January 2012, according to TRI Hospitality Consulting.
The Saudi company owned by Prince Alwaleed bin Talal plans to tap debt markets through sale of either conventional or Islamic bonds.
The Saudi Industrial Development Fund has reportedly approved 13 loans to start nine new projects in the kingdom.
The Saudi dairy company is currently in talks Pepsico to up its 48 per cent stake in IDJ, their joint venture firm.
The Japanese bank has received approval to offer foreign investors access to Saudi Arabia’s bourse.
The Kingdom is concerned about keeping the global oil market well supplied as demand from Asian countries increases.
Levant Capital and Citi Venture Capital International have acquired a major stake in the Al Raya supermarket chain.
The integrated mining project is expected to contribute around SAR15 billion to the Kingdom’s GDP per year.
Saudi Arabia’s biggest property developer, Dar al-Arkan, plans to repay 3.7 billion riyals of debt this year, said CFO .
The Gulf’s biggest dairy firm by market value, plans to start a roadshow this week.