Wednesday 27 May 2015
 
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Saudi Arabia

Saudi's summer oil demand for power generation to climb

Saudi Arabia's demand for oil products could increase by up to 20 per cent this summer from last year as soaring temperatures stoke demand for power generation, but new refineries will limit the need for imports, traders and analysts said.

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Saudi-Kuwait joint Wafra oilfield to remain shut: Chevron

A jointly-operated onshore oilfield between Saudi Arabia and Kuwait will remain shut until difficulties to operate are resolved, a spokeswoman for US oil major Chevron said.   “Current difficulties in secur

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Nissan records its highest sales growth in Saudi

Nissan sold a total of 61,806 vehicles in Saudi Arabia last year with a market share of 7.2 per cent reflecting a 141.7 per cent growth year-on-year compared to 2013, which also marked the company’s highest growth rate in the kingdom.

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Saudi women ‘spend $3,800 a year on cosmetics’

Saudi Arabia’s many affluent and beauty-conscious women are spending on average SR14,256 ($3,800) a year on cosmetics, a report said, forecasting that the kingdom’s $16 billion market is set for an 11 per cent growth rate.

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Jeddah company to invest $399m in new Fairmont hotel

Jeddah-based Sisban Holding plans to invest SR1.5 billion ($399.8 million) in the development and management of the first Fairmont hotel in the Saudi Arabian city. The signing ceremony was attended by Ali Al Sharif, president and

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Almarai eyes $5.6bn capital expenditure

The board of Saudi Arabia's Almarai has approved a capital investment plan which will reach SR21 billion ($5.6 billion) in the next five years, it said on Tuesday. The Gulf's largest dairy firm said the 2016-2020 programme

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Two new trade shows for Saudi construction sector

Leading international exhibition and publishing company dmg events has launched two dedicated trade shows for Saudi Arabia's construction market. The HVACR Expo Saudi and Stone and Surface Saudi Expo will address the growing d

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KAEC eyes 50 new corporate tenants this year

King Abdullah Economic City (KAEC), a special economic zone on Saudi Arabia's Red Sea coast, expects to attract about 50 new companies to establish operations this year, versus 35 last year, KAEC's managing director said.

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KAEC expects tenant inflow to accelerate this year

King Abdullah Economic City (KAEC), a special economic zone on Saudi Arabia's Red Sea coast near Jeddah, expects its inflow of new corporate tenants to speed up this year as the economy proves resilient to low oil prices, KAEC's managing

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Shangri-La to open first property in Saudi Arabia

Assila Investments, a diversified holding company based in Saudi Arabia, has reached an agreement with Shangri-La International Hotel Management to open its first property at Jeddah in Saudi Arabia. The duo has signed a deal for t

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