Hospitality Management Holdings (HMH), a fully-integrated hotel management company, has signed a new partnership agreement with Saudi Arabian Airlines’ (Saudia) frequent flyer programme, Alfursan.
As part of the agreement, A
Banque Saudi Fransi, a lender part-owned by Credit Agricole, posted a 10.2 per cent rise in third-quarter net profit on Wednesday as total operating income increased.
The kingdom's sixth-largest bank by assets made a profit of
Riyad Bank, Saudi Arabia's fourth-largest lender by assets, posted a 16.5 per cent fall in third-quarter net profit on Wednesday that it blamed on declining operating income.
The bank made a net profit of SR899 million ($239.7
Rotana, a leading hotel management company operating hotels across the Middle East, Africa, South Asia and Eastern Europe, plans to open six new hotels in Saudi Arabia by 2017.
The new hotels will come up in Riyadh, Jeddah,
Stronger challenges facing Saudi Arabian banks are likely to be reflected in third-quarter results as earnings are hit by weak stocks, more delayed payments in the building industry and slacker loan growth.
The kingdom's 24 ba
Societe Generale, a global financial services company, has announced the appointment of Antoine Toussaint as chief country officer and CEO of Societe Generale SAR, its CMA licensed subsidiary in Saudi Arabia.
Based in Riyadh, Tous
Saudi Arabia's decision to lower prices for oil loading in November shows that the battle for market share in an over-supplied Asian crude market is far from over.
Saudi Aramco, the kingdom's state-owne
Net foreign assets at Saudi Arabia's central bank fell by $6.6 billion in August as the kingdom liquidated assets to cover a budget gap caused by cheap oil, official data showed on Monday.
The central bank, which serves as the
Flynas, a leading low-cost airline of Saudi Arabia, has launched flights to Bahrain, its third destination within the GCC.
The service will consist of three flights per week from Jeddah to Bahrain and three flights per week from R
Saudi Arabia plans to convert a state-owned housing fund into a bank, the latest in a string of reforms to the economic policy apparatus announced since King Salman took the throne in January, as it struggles to address a shortage of affordable