The metro system, the third one planned in the Kingdom, is estimated to cost around $9.3 billion.
Strong government regulation and hefty public spending have buoyed the Kingdom’s banking sector.
Prince Al Waleed Bin Talal, CEO of Kingdom Holding, escaped harm as his car was written off in Saudi Arabia this weekend.
The Kingdom’s Foreign Minister Prince Saud al-Faisal had a minor operation to relieve an intestinal obstruction, the royal court has said.
Banking is one of the only sectors in KSA to see a dip in compensation in 2012 Salary Survey
The Kingdom reportedly reduced oil output by 300,000 barrels per day from June.
The Kingdom boosted spending to a record SAR804 billion in 2011, 23 per cent higher than in 2010.
The Kingdom’s cabinet has given a licence to the Industrial and Commercial Bank of China (ICBC) to open one branch in Saudi.
The Saudi team, which included royal family member Prince Abdullah al Saud, lost out to Britain and Netherlands in the team show jumping final.
The Kingdom is in gold medal position as it enters the last round of the team show jumping final on Monday.
Saudi’s transport system may be overhauled with 30,000 monitored taxis.
Sports committees at the Olympic Games have started removing restrictions on women wearing headscarfs during competitions.
The ban, which extends to restaurants and shopping malls, will be strictly implemented, the Kingdom’s interior minister has warned.
Supply from OPEC members fell by 450,000 barrels per day (bpd) in July to 31.2 million bpd, a survey has found.
Wojdan Shaherkani had refused to take part in the judo competition if she was not permitted to wear the hijab.
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.
This is the first time that the Kingdom is allowing female athletes to compete in the Olympic Games.
The Kuwaiti telecoms operator now owns 37 per cent of Zain Saudi following a weak response from other shareholders.
Mohammad Al Mojil Group failed to announce its second quarter results, forcing the CMA to suspend trading.
The telecoms firm’s $1.69 billion rights issue was subscribed by more than 632 million shares.
Seven consortia including Qatar Airways and Bahrain’s airlines are hoping to qualify for a new licence in the Kingdom.
Savola Group also posts a rise for the second quarter making $90.9 million profit, up 48 per cent.
Higher revenues from international operations boosted the telecoms operator’s profits.
Saudi Basic Industries Corp saw its quarterly profit drop due to lower prices and production.
Facebook has 45.2 million users in the region while four million Arabs use LinkedIn, says new report.
The Kingdom plans to allow foreign firms to list on its stock exchange within a year, an official has said.
Zain’s share hold in the Saudi operator could rise to above 50 per cent forcing the Kuwaiti firm to consolidate losses.
The telecoms company said that it made a net profit of $379 million in the second quarter of the year.
Saudi Arabia’s announcement of five new laws will affect homeowners and businesses when they come into effect.
Foreign direct investments into the Middle East dropped 16 per cent to $49 billion in 2011, says UN report.
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