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...
The Internet is revolutionising the way the Saudi society interacts and distributes news. A county with a young and dynamic population of which 70% are below the age of 30, coupled with steep Internet penetration of 40%, this shows...
Saudi Arabia announced it has plans to invest SAR200bn ($53.33bn) in aviation sector over the next five years, country's English daily reported. According to Arab News, the spending will be made to meet future demands of the Kingdom's ever-increasing air traffic...
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...
Saudi Arabia’s top religious cleric believes that the government’s decision to significantly increase fees for companies that employ expats could harm the national economy. In November last year, the government had decided to impose an annual fee of USD 640...
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,...
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...
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...
Saudi Arabia is working on plans to pump more money into its tourism industry and improve infrastructure such as hotels and airports. A recent report said the Kingdom plans to invest more than SAR300bn ($80bn) into tourism related facilities. According to...
  Saudi Arabia’s labor reforms appear to be working as more than 600,000 locals have landed jobs with private companies in the kingdom. While economists are wary of drawing conclusions regarding the kingdom’s job market and private sector hiring, these reforms...
Saudi American Bank Group (SAMBA) projected a rise of 6.9 percent this year in Saudi Arabia?s GDP, recording its highest growth rate in eight years. SAMBA predicted a rise in fiscal surplus despite a surge in public spending by a...
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...
Saudi Arabia is emerging as one of the fastest growing Information Technology markets in the Middle East and is expected to account for up to 50% of the total Information and Communication Technology (ICT) investments in the GCC during...
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...
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...
A Saudi newspaper reported that Dubai's carrier may no longer be interested in Saudi market because of the tough terms imposed by the Gulf Kingdom, the largest Arab economy and most lucrative regional market. According to a report published by Saudi...
Saudi Shura Council members have rejected a proposal to tax expatriates on any financial gains made in the kingdom, terming it detrimental to country's economic interests. The proposal suggested expatriates, both in the public and private sectors, should be made...
  The Kingdom of Saudi Arabia’s Capital Market Authority is in the final stages of developing a regulatory framework to allow foreigners to own stocks directly. The move is being viewed as a way to promote greater foreign investment in the...
A top Saudi representative to the international labour body has suggested that expat workers who have been living in Gulf countries for 25 years or more should be granted free iqamas (work/residency permits) or permanent resident status outside the...
Deputy Labour Minister for workers affairs Ahmad Al-Humaidan announced on Thursday the government is taking practical steps aimed at scrapping the individual sponsorship (kafala) system. “We have already begun changing some technical terms related with the sponsorship system, like changing...
Leading Saudi newspaper Arab News cited an unidentified report on Sunday which said the Gulf Kingdom has put on hold public work projects worth more than SAR500bn ($133bn) across the country, including 166 in major cities. According to Citigroup’s MENA Construction Projects...
  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),...
Saudi Arabia's labor ministry issued new laws affecting women at the workplace, on Sunday. According to the new rules, only women may work in lingerie and cosmetic stores. Men will be forbidden from entering these type of shops. Such...
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 Obama administration is pressing Saudi Arabia to boost its oil output in order to fill a supply gap arising from economic sanctions on Iran, a Reuters report revealed quoting Gulf sources, adding that Riyadh is not in a...
As the projects of Phase 1 in the development of King Abdulla Economic City (KAEC) proceed, Emaar, The Economic City (Emaar E.C,) has called off a contract with Al-Radwan Contracting to build 134 villas. The houses were planned to be...
Investment in infrastructure projects could provide a significant opportunity for investors in Saudi Arabia, as Government spending is set to touch SR1 trillion ($266.6bn) in 2013, according to Emirates NBD Wealth Management. Speaking at an investor road show in Riyadh,...
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%...
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...
National Commercial Bank said Saudi economy will expand 3.9% this year and will hit 4.4% during next year. The Jeddah-based bank said in a report that the government will have a fiscal surplus of 317.4 billion riyals ($84.63bn), or 14%...