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...
The oil rich Gulf nation, Saudi Arabia, topped the list of financial donors in the Gulf Cooperation Council (GCC) countries, representing 55.6 percent of the total donations, the International Center of Research and Studies (MEDAD) report titled ?Charitable Works...
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...
Place London Story Saudi prince Nayef wins libel damages over alleged publication Objective Analysis of the story Saudi Arabia?s interior minister, Prince Nayef, wins damages at London's High Court for fake charges libeled against him by a newspaper ?The Independent? accusing him of ordering police...
A leading mobile services provider in Saudi Arabia, Etihad Etisalat (Mobily) is providing its subscribers with free internet access over Ramadan. Connect Laptop The package is called ?Connect Laptop?, and it offers the subscribers with free internet access over the holy...
Place: Saudi Arabia Story: New methods to determine cost of living Since its inception in 1987, Saudi Arabia?s Department of Prices and Index Numbers Statistics (DPINS) has improved markedly. It shifted from providing a mere indication of price movements to generating...
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...
Place Saudi Arabia Story Female teacher candidates exempted from residence criteria. Objective Impact of the relaxed conditions. King Abdullah, Custodian of the Two Holy Mosques, approved recommendations by Prince Faisal Bin Abdullah Bin Muhammad, Minister of Education, to cancel the requisite that demand proof of...
Place:?Saudi Arabia Story: Retail sales in Saudi to cross $37b by 2015 New data from Business Monitor International noted that retail sales in Saudi Arabia are expected to grow from just under $27bn this year to more than $37bn in 2015...
Place:?Saudi Arabia Story:?Jordan receives $1billion grant from Saudi Objective: To help reduce Jordan's budget deficit Jordan, like other countries in the region, has seen a number of demonstrations across the country against high commodity prices and government policies. This caused an increase...
Saudi Arabia?s investments in the industrial sector rose to SR$37.70 billion in 2010. The country is heavily investing and importing industrial machineries to the tune of $15 billion annually. The consistency in the investment initiatives Saudi Arabia?s industrial sector...
Petrodollars! What a word! It is a term coined by Prof. Ibrahim Oweiss professor of economics at Georgetown University in 1973. Oweiss felt there was a need for a word to describe the situation then occurring in oil producing,...
Saudi Arabia's oil exports look to decline sharply over the long term as the Middle Eastern country?s own domestic demand is expected to consume more of its production. ?The country's domestic consumption of energy, especially oil, at very cheap prices,...
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...
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...
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...
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...
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...
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...