Hussain Alshammasi details the debate underway in the kingdom as it seeks to rein in water and fuel subsidies
Reforms announced on Tuesday suggested authorities are now courting foreign money more aggressively
On Monday, al-Watan newspaper reported that Binladin had laid off about 77,000 foreign workers
The park is designed to boost the kingdom’s knowledge economy and create jobs
Previously, qualified institutions could only own a maximum of 5 per cent of any listed company
John Brennan says secret parts of the report could be misinterpreted if released for public scrutiny
Between 12,000 and 17,000 Saudi employees are expected to be laid off
In March, the ministry signed memorandums with South Korea to develop 100,000 housing units
A 5 per cent VAT rate will be introduced across the GCC in the coming years
Proposal was made at a Gulf Cooperation Council municipalities conference in Qatar
The Saudi government has recently been driving employment of locals in the private sector
Binladin Group employees also say they have not been paid for six months
The assistance to the families, in the form of land, villas, apartments or financing, will be extended over a year
The company employs 200,000 people, according to its LinkedIn page
True diversification requires developing industries which have nothing to do with the extraction of oil and spending of oil-related revenue
Net foreign assets held by the central bank dropped by 1.0 per cent from the previous month
A joint coordination council is being set up to target the investment
Investors say that devaluation pressures have not gone away, even though Saudi Arabia has unveiled a sweeping reform package.
Reforms envisage Aramco transforming itself from an oil and gas firm into a “global industrial conglomerate”
Saudi capital sees year-to-year sales prices and rental rates fall
Deputy Crown Prince Mohammed bin Salman announced plans to turn the kingdom into a global investment power
King Salman announced that the kingdom’s cabinet had agreed to the reform plan, with details coming later
Six months ago the IMF warned that budget reforms being considered by most of the Middle East’s oil exporters were likely to be inadequate
Women in the country have faced restrictions as to where they can work
The US President arrived in Riyadh yesterday
The US president will meet with the King of Saudi Arabia as well as other leaders from GCC countries
The bill would hold the Saudi government accountable for any role in the 9/11 attacks
The fire at a United Petchem plant on Saturday killed 12 workers and injured 11
The Saudi Arabian government has threatened to sell of hundreds of billions of dollars’ worth…