Home GCC Saudi Arabia

Saudi Arabia

Saudi Arabia Plans Metro System In Jeddah

The metro system, the third one planned in the Kingdom, is estimated to cost around $9.3 billion.

Biggest Banks In Saudi Arabia

Strong government regulation and hefty public spending have buoyed the Kingdom’s banking sector.

Kingdom Holding’s Prince Al Waleed Survives Car Crash

Prince Al Waleed Bin Talal, CEO of Kingdom Holding, escaped harm as his car was written off in Saudi Arabia this weekend.

Saudi Foreign Minister Undergoes Minor Surgery

The Kingdom’s Foreign Minister Prince Saud al-Faisal had a minor operation to relieve an intestinal obstruction, the royal court has said.

Top Ten Salaries in Saudi Arabia

Banking is one of the only sectors in KSA to see a dip in compensation in 2012 Salary Survey

Saudi Cuts July Oil Output To 9.8m bpd- Source

The Kingdom reportedly reduced oil output by 300,000 barrels per day from June.

Saudi Is Spending More Than It Should – IMF

The Kingdom boosted spending to a record SAR804 billion in 2011, 23 per cent higher than in 2010.

Saudi Grants Licence To Chinese Bank ICBC

The Kingdom’s cabinet has given a licence to the Industrial and Commercial Bank of China (ICBC) to open one branch in Saudi.

Olympics: Saudi Wins Bronze In Equestrian Event

The Saudi team, which included royal family member Prince Abdullah al Saud, lost out to Britain and Netherlands in the team show jumping final.

Olympics: Saudi Team Leads Equestrian Competition

The Kingdom is in gold medal position as it enters the last round of the team show jumping final on Monday.

Saudi Plans Giant New Taxi Company

Saudi’s transport system may be overhauled with 30,000 monitored taxis.

Olympics: Hijab No Hurdle For Muslim Sportswomen

Sports committees at the Olympic Games have started removing restrictions on women wearing headscarfs during competitions.

Saudi Bans Smoking In Public Places

The ban, which extends to restaurants and shopping malls, will be strictly implemented, the Kingdom’s interior minister has warned.

OPEC Oil Output Drops In July On Iran

Supply from OPEC members fell by 450,000 barrels per day (bpd) in July to 31.2 million bpd, a survey has found.

Olympics: Saudi Judo Athlete Allowed To Wear Hijab

Wojdan Shaherkani had refused to take part in the judo competition if she was not permitted to wear the hijab.

Olympics: Saudi Judo Player To Quit If Hijab Banned

Wojdan Shaherkani, one of Saudi’s two female athletes at the Olympics, will withdraw from the games over the hijab ban, her father has said.

Saudi Women’s Olympic March Draws Praise, Blame

This is the first time that the Kingdom is allowing female athletes to compete in the Olympic Games.

Zain Buys Further Stake In Saudi Unit

The Kuwaiti telecoms operator now owns 37 per cent of Zain Saudi following a weak response from other shareholders.

Saudi Regulator Suspends MMG Shares

Mohammad Al Mojil Group failed to announce its second quarter results, forcing the CMA to suspend trading.

Zain Saudi’s Issue Oversubscribed

The telecoms firm’s $1.69 billion rights issue was subscribed by more than 632 million shares.

Gulf Carriers Bid For Saudi Licence

Seven consortia including Qatar Airways and Bahrain’s airlines are hoping to qualify for a new licence in the Kingdom.

Prince Alwaleed's Kingdom Holding has minority stakes in some of the world's top companies.

Kingdom Holding Q2 Profit Up 9.4%

Savola Group also posts a rise for the second quarter making $90.9 million profit, up 48 per cent.

Saudi Telecom Q2 Profit Up 6.7%

Higher revenues from international operations boosted the telecoms operator’s profits.

SABIC Q2 Profit Falls 35%

Saudi Basic Industries Corp saw its quarterly profit drop due to lower prices and production.

Twitter Has 2m Arab Users

Facebook has 45.2 million users in the region while four million Arabs use LinkedIn, says new report.

Saudi Plans Foreign Firms Listing Soon

The Kingdom plans to allow foreign firms to list on its stock exchange within a year, an official has said.

Zain Saudi’s Rights Issue Struggling

Zain’s share hold in the Saudi operator could rise to above 50 per cent forcing the Kuwaiti firm to consolidate losses.

Saudi’s Mobily Q2 net profit up 22%

The telecoms company said that it made a net profit of $379 million in the second quarter of the year.

New KSA Mortgage Laws Significant

Saudi Arabia’s announcement of five new laws will affect homeowners and businesses when they come into effect.

FDI Inflows To GCC Fall 35%

Foreign direct investments into the Middle East dropped 16 per cent to $49 billion in 2011, says UN report.