Saudi King and Crown Prince Condole Kuwait
In a heartfelt gesture of solidarity, Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salman expressed their deepest condolences to the Emir of Kuwait on Monday following the passing of Sheikh More »
Putin and Abbas Discuss Gaza Crisis
Russian President Vladimir Putin is set to meet with Palestinian President Mahmoud Abbas on Tuesday during Abbas’ visit to Russia. Arriving on Monday, Abbas aims to discuss the ongoing Gaza conflict with More »
Saudi Arabia Voices Strong Support for Gaza Peace Initiatives
Saudi Arabia has firmly aligned itself with the recent joint statement made by President Joe Biden of the United States, President Abdel Fattah El-Sisi of Egypt, and Sheikh Tamim bin Hamad Al-Thani, More »
Saudi Crown Prince, US Secretary of Defense discuss troop deployment
:: Saudi Arabia’s Crown Prince Mohammed bin Salman received a phone call on Wednesday from the US Secretary of Defense during which they discussed ongoing arrangements to send US troops of a More »
Saudi Energy Minister confirms restoration of Kingdom’s gas production capacity
:: Saudi Arabia’s Minister of Energy confirmed on Wednesday the restoration of production capacity, affirming the Kingdom’s position as a reliable energy supplier in the global market. The energy minister, Prince Abdulaziz More »
Category Archives: Economy
Erring centers issuing fitness certificates to expats punished
JEDDAH — Medical centers licensed to examine expatriate workers for new iqamas (residence permits) or their renewal have been found to have committed several serious violations for which they will be penalized, a senior official has said. “Serious violations were
Saudi Arabia planning to build largest desalination plant in world
JEDDAH – An international water summit closed in Singapore with agreements on 14.5 billion Singapore dollars (US$11.6 billion) of projects, tenders, and other investments, organizers said Monday. The agreements at Singapore International Water Week included the opening by Beijing Enterprises
OPEC expected to maintain current production: Kuwait
KUWAIT CITY: Kuwait expects the Organization of Petroleum Exporting Countries to keep the oil production ceiling unchanged so as not to alter prices, the wealthy Gulf country’s oil minister said. Asked if he believes the OPEC cartel will decide to
Saudi petrochemical sector to remain volatile due to lack of catalysts: Al Rajhi
JEDDAH – The Saudi petrochemical sector is currently trading at a discount due to near-term headwinds, Al Rajhi Capital said in its recent report on “Saudi Petrochemical Sector.” It expects the performance of the petrochemical sector to remain volatile over
Economic diversification to stir Dubai real estate sector
DUBAI – Dubai’s drive to diversify its economy is key to the growth of the real estate sector in the emirate, according to Khatija Haque, head of MENA research at local bank Emirates NBD. Speaking at MEED’s Dubai Real Estate
Rotten food items confiscated
Inspection teams from the Ministry of Commerce and Industry confiscated over 5,000 rotten food items that were on their way to be distributed in Madinah City markets. Some of the items were so rotten that they started to have bacteria
E-system may not be fully in place for Haj
The chances that the Haj Ministry will be able to launch online system for Haj operations this year look grim. “We are working to launch the electronic system for Haj operations from this year but are not certain if we
Retailers of baby milk flout govt price cap
A number of pharmacies in the Kingdom are continuing to sell infant milk formula at inflated prices as a two-week deadline announced by the Saudi Ministry of Commerce and Industry to cut down prices is set to expire. At the
Part-time govt jobs permitted
Public sector employees have been allowed to work in other government departments after normal working hours to improve coordination and service delivery. Civil Service Minister Abdul Rahman Al-Barrak, who is a member of the Civil Services Council that issued the
Gas developers struggle with high costs and low margins
LONDON: Only a fraction of the natural gas export projects being developed around the globe will become reality as high costs and weakening gas prices torpedo those that until recently promised huge returns on investment. Large natural gas field discoveries
Sipchem, Sahara blame regulatory framework for merger collapse
JEDDAH: Saudi International Petrochemical Co. (Sipchem) and Sahara Petrochemical have called off their proposed merger, citing an inadequate regulatory framework in the Kingdom for the collapse. The tie-up, which would have created a firm with a market capitalization of $5.7
More Saudization to yield more work visas
The Labor Ministry announced Sunday that it would allow firms in the high and medium green categories of Nitaqat to recruit foreign workers required for the expansion of their business activities. However, the same privilege will not be available for
Summer festivals to generate 5,000 jobs
There will be 45 summer festivals this year, opening up more than 5,000 temporary jobs for Saudis. The festivals are expected to attract more than 10 million visitors, with an estimated return of SR10 billion. Domestic tourism is expected to
Experts seek level-playing field for women
With only 2 percent of Saudi women employed in the industrial sector, business forums are encouraging women to work in industries that require specific skills. According to officials, women can effectively contribute to the industrial sector, such as in the
Riyadh kicks off shopping festivities
Riyadh Gov. Prince Turki bin Abdullah bin Abdul Aziz officially launched the 10th Riyadh Festival for Shopping and Entertainment at Qasr Mall last Thursday marking the beginning of the summer vacation which witnessed many Saudi families doing shopping rounds at
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