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 beverage market experiencing 8% annual growth ·       Eleven beverage categories purchased per household ·       Average of 11 beverage categories per household The Saudi beverage market is growing at an annual rate of over eight percent according to Ranjitha Subash, Consumer Insights Director at...
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...
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...
There seems to be an overheating going on in the Saudi economy as the country is primarily depending on a limited sources of income. The dependence on oil primarily does mean that the rising commodity prices can lead to...
Standard Chartered Private Equity (SCPE) announced the acquisition of a minority stake in Construction Products Holding Company (CPC) through an equity investment of $75m. CPC is Saudi Arabia's largest manufacturer and provider of building materials and a subsidiary of...
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...
An Egyptian minister said on Thursday Riyadh has transferred much-needed $1bn to Cairo's central bank, seen by many as a move to help unrest-hit country secure a $3.2bn loan from the IMF. Egypt has been asking the International Monetary Fund...
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...
State-run Saudi Press Agency (SPA) announced its finance minister held successful talks with Chinese vice trade minister over possible joint ventures in petrochemicals and banking on Tuesday. The moves are being seen as part of a wider Chinese push into...
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%...
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...
Etihad Etisalat Mobily, the Saudi telecommunications company, yesterday signed a contract to establish a ?strategic partnership? with the global Internet giant Google. The deal marks the first-of-its-kind initiative to be launched in the Middle East, and shall oversee the...
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...
The Saudisation jobs policy, Nitaqat, is giving private sector employers in Saudi Arabia a tough time as they grapple with the implementation of reform introduced in the wake of Arab Spring uprisings, a new report revealed. Global recruitment giant, Hay...
Saudi Arabian Fertilizers Co (Safco) said its quarterly net profit fell 13 percent, missing analysts expectations for the second straight quarter. Safco made 790 million riyals ($210.7 million) in the second quarter, compared with 907.2 million riyals in the prior-year...
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...
Middle East Electricity shines spotlight on booming energy sector; UAE forges ahead with power, water, energy projects worth US$34.2 billion Dubai, UAE, 2 February 2012: New power, water, and energy projects valued at US$180 billion are underway or at the...
Reports released by the International Energy Agency (IEA) last week show Saudi Arabia boosted its crude oil production to 9.8m barrels a day last month. This is the highest amount produced by the Kingdom in the last 30 years. OPEC...
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...
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 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...
Saudi contracting firm Abdullah A M Al Khodari Sons Company said on Saturday it has been awarded a SR120.7m ($32.1m) contract by the Ministry of Interior. It said in a statement posted on the Saudi Stock Exchange website that it...
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%...
A report by ratings agency Standard & Poor's (S&P) revealed that banks in Saudi Arabia are among the most profitable and efficient in the gulf region. High?oil prices?and vast spending plans under the aegis of the Saudi government have driven...
IOC President Jacques Rogge expressed his optimism that Saudi Arabia will send female athletes to the Olympics for the first time at this summer's London Games. He said the move will be seen as a major towards fulfilling the...
International exhibitor participation up sevenfold at Decofair 2013 Decofair 2013, Saudi Arabia’s only premium international furniture and interior design show, has seen a sevenfold increase in international exhibitor participation as global interior brands look to tap into the Gulf region’s...
Small- and medium-sized enterprises (SMEs) in Saudi Arabia are gearing up for ambitious, technology-fuelled expansion drives across the region, according to a new worldwide survey. In the next Three Years, No Saudi SME Expects to Operate Solely in the Kingdom; Cloud,...
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...
Riyadh's announcement of opening up its skies to foreign airlines has attracted the interest of fourteen companies to obtain a licence, including Saudi-owned companies, Gulf-Arab firms and consortiums of Saudi-Gulf and Saudi-Chinese companies, the General Authority of Civil Aviation (GACA)...