The booming real estate and construction industry in Saudi Arabia will continue to fuel tremendous growth for steel and cement in the coming years. The demand for cement will climb by an estimated 9.4 percent every year to over 80...
  The U.S. will surpass Saudi Arabia and Russia this year to become the largest producer of liquid fuels (oil, natural gas and biofuels), according to the latest report by the British oil major BP. In November 2012, the International Energy...
 "A multinational firm from UK has plans of  expanding its operations in the Middle East. Because of the cultural differences and marked business practices in the Middle East and GCC countries, they need guidance and legal representation in setting...
We live in a corporate age which is in constant dynamics,always paving way to innovation and excellence. The old ways give rise to the new, belief systems change and opportunities are constantly throwing up greater challenges and growth prospects...
Saudi Arabia's state media has reported that Saudi King Abdullah in a historic move has appointed women to a fifth of the seats in the country's powerful Shura Council. In the two royal decrees issued today, King Abdullah reconstituted the...
A new report by computer security software corporation Symantec has revealed that Saudi firms are poorly equipped to deal with cyber attacks because of "lack of data backup operations on daily basis". As information technology assumes greater importance in today’s...
Saudi Aramco, the Saudi oil giant, is making active efforts to explore and develop new gas reserves to meet the growing demand for electricity in the kingdom. According to Petroleum and Mineral Resources Minister Ali Al-Naimi, "King Abdullah has given...
Saudi Arabia earned an estimated USD 16.5 billion from pilgrimage rituals of Hajj and Umrah in 2012, a 10 percent increase compared to the previous year. A record number of over 7 million pilgrims flocked the kingdom to perform holy...
Saudi based Social Media Agency 'The Social Clinic' in its latest report “The State of Social Media in Saudi Arabia 2012″ has revealed that the country is one of the fastest growing in social media usage in the GCC. The...
The five-day Saudi International Motor Show 2012 concluded with an overwhelming response from all participants. The show was able to attract over 100,000 trade visitors, auto enthusiasts and car lovers. According to Zahoor Siddique, Vice President of Al-Harithy Company for...
The Saudi IT market is geared up to attract investment of up to USD 8 billion by the end of 2012. This investment would further increase to about USD 12.3 billion by 2015. The growth has been witnessed due to...
Arab stocks investors ended 2012 richer by nearly $60 billion with the recovery of most regional bourses and those of the UAE and Saudi Arabia accounted for more than 80 per cent of the increase. Official data showed the combined...
General Motors Middle East and its dealer partners have reaffirmed their commitment to the Saudi market by outlining investment plans of up to USD 750 million by 2015. General Motors Middle East and dealers Aljomaih Automotive Company (AAC) and Universal Motors Agencies...
Qatar Airways and Gulf Air have become the first foreign carriers to win licences to operate domestic flights within Saudi Arabia. A statement by the General Authority of Civil Aviation said that, "the best bids came from Gulf Air and...
With the budget 2013 set to be announced in a few days, all eyes are set on the real estate market in Saudi Arabia. The real estate market in the Kingdom has shown an impressive jump in recent times due...
The Saudi government plans to launch 15 smart schools in each of the country’s region by February 2013. The Smart Schools Project is an initiative of the government to modernize the country’s education system. According to Ahmad Al-Dandani, Ministry of...
RIYADH, KINGDOM OF SAUDI ARABIA – The American Express World Luxury Expo will take place at the palatial Ritz-Carlton, Riyadh, in the Kingdom of Saudi Arabia between 10 and 12 February 2013. The Expo is the result of a...
Thanks to hectic reform efforts by respective governments, the UAE and Saudi Arabia have made noticeable improvements in a newly published country branding list. These results were acknowledged in the “Country Brand Ranking 2012” list released by Bloom Consulting,...
Saudi Arabia is planning to invest heavily in its railway  infrastructure, with about SR 365 billion ($99.4 billion), by the year 2040. In the coming years, the government plans to launch a number of initiatives in this sector, according...
Saudi state news agency reported on Tuesday King Abdullah has ordered the launch of a huge expansion project for the Prophet Muhammad's mosque in the holy city of Medina. The Saudi Press Agency (SPA) said the expansion project, expected to...
The Saudi government is developing new industrial parks for plastics conversion to stimulate investments and create jobs, a report said on Thursday. The new parks are part of the government's plans to create new industrial parks for mixed-use light industry...
The aggressive adoption of medical devices is dramatically influencing the demand for more advanced IT solutions Healthcare expenditures in KSA are expected to increase by 16 percent, from SAR 78.63 billion in 2011 to SAR 91.23 billion in 2012, driven...
Saudi Arabia is set to lead growth in Middle East's infrastructure and construction spending over the next 15 years, a report compiled by BofA Merrill Lynch said on Tuesday. The study noted that the construction sector across the Middle East...
A Saudi catering company has announced it will hire 1000 young people to work at McDonald's restaurants in the central, eastern and northern regions of the Kingdom. Prince Mishal bin Khaled Al-Saud, president of the Riyadh International Catering Company (RICC), also owns McDonald's...
Car sales in Saudi Arabia will hit SR94 billion ($25 billion) in 2013 amid plans of manufacturing automobile parts and assembling cars, organisers of an upcoming motor show in Riyadh said on Sunday. The Riyadh Motor Show 2012, the 29th international...
Palestinian prime minister's office announced on Sunday his government will receive $100 million from Saudi Arabia to help alleviate Ramallah's stinging budget crunch. Palestinian officials in Occupied West Bank welcomed the news as salaries for public sector employees have yet to be...
The National Water Company plans new projects worth SR4 billion ($1.07bn) in Jeddah's historical regions, northern and southern parts. The projects include replacement with high-pressure pipes that can pump larger quantities of water, construction of main pipeline networks and setting...
Saudi Arabia raised its oil production to 10.1 million barrels per day in June, from 9.8 million barrels per day a month earlier, Dowjones quoted an anonymous source as saying on Wednesday. The Kingdom is currently producing around 10 million...
Gulf nations, particularly Saudi Arabia and the UAE, are home to the world’s highest consumption rates of cosmetics, according to a study conducted by Epoc Messe Frankfurt and published by the London-based newspaper Asharq al-Awsat. Saudi Arabia ranks first among Gulf...
Saudi Aramco announced on Monday the launch of an investment arm to acquire tech companies that are of strategic importance to Saudi Arabia and facilitate their deployment in the kingdom. The company said Saudi Aramco Energy Ventures plans to invest...
The Saudi cabinet gave its nod to the country’s mortgage law on Monday for the infrastructure industry on which it is spending around $500 billion to build and develop. The mortgage law stipulates the regulations to establish mortgage companies and...
Venezuela's proposal to set an oil price band of $80 to $120 a barrel came under immediate scrutiny from a Middle East OPEC official who dismissed the idea as a non-starter on Wednesday. Earlier, Energy Minister Rafael Ramirez urged the oil...
About 3 million pilgrims will arrive in Makkah for the annual Hajj pilgrimage in October, many of them coming from a wealthy background. To cater to their need for luxury accommodation, hotel investment companies, including InterContinental Hotels Group Plc, Hyatt Hotels Corp. and Starwood...
Saudi Arabia, the oil-rich kingdom home to millions of foreign workers, is finding it hard to enrol tens of thousands of its mostly young population who graduate each year, a report said. Despite being the largest Arab economy, and the...
Hundreds of Saudis have petitioned King Abdullah to allow women to drive vehicles on the first anniversary of the Women2Drive campaign launched in June last year. The signatories, who numbered nearly 600 on Wednesday, asked the king to "encourage women...
Saudi Grain Silos & Flour Mills Organisation (GSFMO) said on Thursday it may import soft wheat, in addition to the current hard wheat imports, to meet local food demand. The desert kingdom has piled up imports sharply since abandoning plans for...
A Saudi bank reported the country's current account surplus was set to rise around 33% of gross domestic product (GDP) in 2012 from 27.8% of GDP in 2011. The Saudi American Bank Group (SAMBA) said in its quarterly report on...
Prince Mitaab Bin Abdullah, head of the Saudi National Guard, announced on Tuesday he will create a department within the force that will be tasked with recruiting female soldiers. According to a newspaper report published in Okaz, a leading Saudi newspaper, Prince Abdullah said...
Saudi local media reported private sector workers are set to get a minimum wage within the next four months as part of a government drive to make jobs more appealing to nationals and curb unemployment. The gulf kingdom has a jobless...
Strong oil prices have led to a massive increase in Saudi gross domestic product (GDP) per capita income but growing inflation threatens the progress, a report said. The International Monetary Fund (IMF) predicted that per capita income would rise by 27.6%...