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.
The Saudi-based property developer said that Sukuk account holders will receive the funds on Monday.
The loans, extended by the Saudi Fund for Development, are repayable over 20 years at two per cent interest.
Saudi Arabia will include two female competitors in its London 2012 Olympic team for the first time.
Egypt’s new President will make his first official visit to the Kingdom this week to meet King Abdullah.
Saudi Arabia’s dairy producer and property developer both reveal an increase in net profit for the second quarter.
The global technology firm plans to increase regional hiring and open more offices in a major expansion drive.
Analysts are not revising share price forecasts following a surge in banking shares after mortgage law approval.
Qatar Airways is keen to launch an airline in the Kingdom, but is worried about excessive fuel charges.
The long-awaited mortgage law is expected to help solve the Kingdom’s critical housing problem, say experts.
Four IPOs, valued at over $1.1 billion were issued in the GCC during the second quarter of 2012.
The airline will fly 73 extra flights to Jeddah and Medinah Al Munawarrah from July 20 to September 1.
The oil giant signs agreement to sell its Vela marine unit to Saudi National Shipping Company.
Women athletes from the Kingdom will be allowed for the first time to compete in the London Olympics.
Residential rents rose between four to 13 per cent in the two Saudi Arabian cities, says a new study.
Although the stock market is down 14 per cent from this year’s high, investors are positive on earnings.