• Singapore Airport Group to Operate Jeddah’s new King Abdulaziz Airport

    May 02, 2017
    Singaporean Changi Airport Group has won a bid to operate Jeddah’s new King Abdulaziz Airport for the next 20 years, announced Sulaiman Al-Hamdan, transport minister and president of the General Authority of Civil Aviation (GACA). “Changi Airport Group is an essential partner in our success and we hope it achieves the sought for goals,” Al-Hamdan
  • KSA, Germany to Set up $200m Fund for Women Empowerment

    May 02, 2017
    German Chancellor Angela Merkel invited King Salman to attend the G20 summit in Germany after holding wide-ranging consultations on the agenda of the summit in Jeddah. Chancellor Merkel also renewed invitation to Crown Prince Mohammed bin Naif, deputy premier and minister of interior, to visit Germany.
  • Positive Investor Sentiment Expected in the Kingdom in the Last Quarter of 2016

    Nov 08, 2016
    Economic data for September showed a downward trend in Saudi Arabia economic activity, according to Jadwa Investment.Growth in cash withdrawals from ATMs and point- of-sale transactions was negative in both year-on-year and monthly terms, Jadwa researchers stated in the November chart book released recently.
  • Hike in Municipal Tax Set to Derail Retail Sector Gains: Report

    Nov 08, 2016
    A slight decline in Saudi interbank money rates and improving liquidity are encouraging investors to return to Saudi stocks which gained nearly 7 percent last month, according to economists
  • Kingdom To Settle Dues with Private Sector Firms

    Nov 08, 2016
    Saudi Arabia will pay by next month the money it owes private companies, according to a committee headed by Deputy Crown Prince Mohammed bin Salman.
  • Saudi Arabia Announces SR840 Billion Budget

    Jan 05, 2016
    Saudi Arabia on Monday unveiled a SR840 billion budget, stressing more on diversify its revenues in an era of low oil prices. “Our economy has the potential to meet challenges,” Custodian of the Two Holy Mosques King Salman said in his speech.
  • GCC summit to Discuss Key Regional Issues

    Dec 10, 2015
    Leaders of the six-nation Gulf Cooperation Council (GCC), gathering in Riyadh on Wednesday, will discuss key regional and international issues, which is expected to include the fight against terrorism, closer economic cooperation and the situation in Syria, Yemen, Palestine and other neighboring states.
  • Shoura Council Terms Nitaqat a Failure

    Jan 29, 2014
    Shoura Council members have criticized the Labor Ministry’s Nitaqat program, saying it has failed to achieve the desired results. “Companies manipulate the system to give the impression that they have helped Saudis get employed,” a member told the Shoura meeting.
  • KSA Banks Reports SR38b Record Profits in 2013

    Jan 21, 2014
    The Saudi commercial banks registered the highest ever growth in profits by the end of 2013 to reach SR37.6 billion compared to SR35.1 billion in 2012, or an increase of 7 percent, according financial report. Profits of the fourth quarter for all listed and unlisted banks grew by 5 percent to SR8.48 billion compared to SR8.1 billion in Q4 of 2012.
  • Health service charges To Go up by 30%

    Jan 21, 2014
    Health service charges at private hospitals and clinics are likely to go up by 30 percent as a result of the recent Labor Ministry decisions, including the two-day weekend and Nitaqat conditions, said members of the National Health Committee at the Council of Saudi Chambers of Commerce and Industry.
  • 50 Percent Subsidy To Continue for Seaport Customs Tariffs

    Jan 21, 2014
    The government will continue to bear 50 percent of customs tariffs levied by seaports for another three years, effective from March 15, Culture and Information Minister Abdul Aziz Khoja said on Monday. The decision was taken by the Council of Ministers, chaired by Crown Prince Salman, deputy premier and minister of defense. The Cabinet first took the decision over five years ago.
  • Experts Criticize Deportation Mechanism to Increase Jobs

    Jan 13, 2014
    An economic expert has criticized the mechanism being followed by the authorities to finance small and medium enterprises, saying deportation of expatriate workers alone will not solve the unemployment crisis in the country. Abdulghani Al-Ansari, a member and financial adviser of the board of directors of Madinah Chamber of Commerce and Industry, demanded the restructuring of financial bodies so that the objective for which they had been established was achieved.
  • Holy Makkah Reprots SR59b Record Real Estate Deals

    Jan 13, 2014
    Real estate index for Makkah region surprised all forecasts that said deals in the sector will point to the downside during 2013. The numbers, values, and scopes of the deals up to the end of last year witnessed a rise of 350 percent compared with a year before. The value of deals during the year stood at SR59.4 billion, against SR16.1 billion in the year before, an increase of 350 percent.
  • Hiring Nationals Must to Win Govt Contracts

    Jan 13, 2014
    The Ministry of Health (MoH) which is the largest spender on public welfare in the Kingdom is tightening the noose on private sector companies involved in the ministry’s operations to hire unemployed Saudi youth. The MoH has been awarding the highest number of contracts to private companies for the maintenance and construction of health facilities across the Kingdom.
  • Ministry Of Civil Services Not to Renew Employment Contracts of Foreign Workers

    Jan 13, 2014
    The Civil Service Ministry rejected applications for contracts of 2,607 foreign workers and refused to renew the contracts of 9,267 foreign workers at government departments across the Kingdom last year, Abdul Rahman Al-Barrak, Civil Service minister, said on Sunday in a statement.
  • Abdulaziz Al-Saghyir Holdings Concludes SR500M Deals

    Jan 06, 2014
    Abdulaziz Alsaghyir Holding, one of the major companies specialized in investment, contracting, building materials and real estate development sectors has announced that the volume of company investments in the real estate sector for 2013 exceeded SR500 million.
  • GE To Invest in Youth Talent To Increase Kingdom's Power Generation

    Jan 06, 2014
    Saudi Arabia’s plans to keep increasing power generation to meet the growing needs of industrial, commercial and domestic consumers have received a further boost with GE reiterating its support to all such projects.
  • Kingdom to Sign Labor Recruitment Agreement With 6 countries

    Jan 01, 2014
    As part of a comprehensive plan to streamline the domestic service sector, the Kingdom has decided to sign agreements with six labor-exporting countries to recruit domestic helpers. Labor Minister Adel Fakeih will travel to New Delhi on Wednesday to ink the new labor pact for the recruitment of domestic workers from India,

 
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