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...
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...
The Bank of London and the Middle East (BLME), Britain's largest standalone Islamic bank, plans to set up an office in Dubai to expand on it's offerings in capital markets and wealth management. The bank is experiencing 15 percent growth...
A new global survey has ranked Saudi Arabia, Qatar and the UAE as top investment destinations in the Middle East and North Africa (MENA) region. These countries have been favored due to a stable business and political climate. Conducted in...
Water desalination capacity in Saudi Arabia will hit 200,000 cubic metres by 2015 as the Gulf kingdom grapples to meet soaring demand, an expert said in Riyadh. "Saudi has emerged as the world’s largest desalination market and is seen a...
With a population of more than 5 million, Riyadh, is both Saudi Arabia’s biggest city and its capital city. Experiencing rapid growth, Riyadh’s population has more than doubled since 1990. City planners announced in July 2012 that Riyadh will build...
According to a British newspaper report, BAE Systems is close to sealing a $808 million deal with Saudi Arabia to sell up to 30 Hawk trainer aircraft. The deal comes as a welcome relief for the defence giant which is...
Saudi Arabia, the world's biggest exporter of crude, said it will more than double its gasoline imports this month, three sources privy to information said. The traders, on condition of anonymity, disclosed to Bloomberg that state-owned oil company Saudi Aramco...
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...
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...
Kingdom Holding's Prince Alwaleed Bin Talal announced on Sunday that Jeddah's Kingdom Tower would become the world’s tallest building when completed in 2017. He insisted that it will take no more than "63 months" to complete the 1,000m high skyscraper...
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...
The Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz of Saudi Arabia passed away before dawn on Friday. UAE President His Highness President Khalifa said, "We mourn the death of one of the most notable leaders of the...
Saudi Arabia has invested more than SR200 billion ($53.33 billion) in the information and communications technology (ICT) sector which created around 60,000 new jobs, a report from STC said adding that the heavy investment has had a positive impact...
Saudi banks urged to shun conservatism to optimize and benefit the long term health of the Saudi economy and its banking sector.  Alkhabeer Capital, a leading asset management and investment firm based in Saudi Arabia, and authorized by the Capital...
The Gulf Cooperation Council (GCC) have given strong indications of doubling customs tariffs on cigarette and other tobacco imports from next month. According to a senior Saudi official, finance ministers from six Gulf states scheduled to meet in May to approve...
Saudi Arabia's agriculture and food sectors are on solid ground, with reports of 18.5% annual growth. The increasing Saudi population, combined with higher consumption levels, are driving record growth rates. A mega agriculture and food event will be held at the...
As many of you know, I've always disagreed with many of the laws set by Saudi Arabia, but in particular with their law prohibiting women from driving. Westerners, as well as some Arabs, see women as oppressed in the...
Defence expenditure forms one of the core fiscal expenditures of countries with millions of dollars being spent by governments to ensure that their defence system is up-to date and bolstered with highly refined arsenal. Defence expenditures aren’t however mindlessly...
Saudi Arabia has decided to set up a ministerial committee to reconsider lifting the ban on physical exercise for women, by allowing women-only sports clubs, the country's Al Watan daily newspaper reported. The development comes amidst opposition from the...
A newly established data center at the Saudi Ministry of Health will promote better health services in the Kingdom by linking 22 regional health directorates, 166 hospitals and more than 40 hospital management centers across the Arab world. The data...
  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...
Saudi billionaire Prince Alwaleed bin Talal said he has no plans of selling his share at News Corp .?No change, my investment is strategic, not thinking of selling anything,? he told Reuters by telephone. ?The crisis does not make...
  Residents of Jeddah have demanded the authorities to ensure that factories are relocated from residential areas at an accelerated pace. The Jeddah Municipality has been working closely with Makkah province, Jeddah governorate, the Jeddah Chamber of Commerce and Industry (JCCI),...
Seoul based Hyundai Engineering & Construction has won the $1.5 billion construction contract for an alumina refinery, part of the multi-billion dollar project to develop a fully integrated aluminium complex in Ras Al Khair, Saudi Arabia. The complex worth $10.8bn...
The Saudi government has given internet messenger application providers an ultimatum of one week to provide a monitoring service or face a ban across the Kingdom. Skype, Viber and Whatsapp will likely face a ban if operators fail to allow authorities in...
According to a Bloomberg report, Research In Motion is preparing to open stores across the Middle East where demand for its BlackBerry phones has been on rise despite gloomy sales in the US. Sandeep Saihgal, managing director of RIM’s Middle...
In the month of June, Saudi Arabia increased crude oil production by 700,000 barrels per day. The monthly oil report released on Wednesday showed Saudi Arabia?s response to OPEC?s failure to reach agreement on raising output quotas during a...
Revealing it's ambitious growth plans, the CEO of Saudi Arabian Oil Company (Saudi Aramco) has stated that the company is chasing the status of becoming the world’s top producer of refined fuels and petrochemicals. Currently the world’s biggest crude-oil exporter,...
Gold – the yellow metal that’s as priceless as the word can imply. Everyone wants to own gold, wants to buy it as an investment for the future. But not many do manage to invest in gold thanks to...