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Lebanese firm to invest $800m in SudanLebanese farmland investor GLB Invest plans to invest up to $800 million in Sudan to produce animal feed to be sold to Saudi Arabia, its president said on Tuesday. Arab investors have launched farmland and livestock projects in th More… |
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Inflation a risk for strong Saudi economy: IMFSaudi Arabia faces a possible inflation risk due to buoyant growth that may warrant policy action to prevent the economy from over-heating, the International Monetary Fund said. More… |
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Marriott opens first Courtyard hotel in SaudiUS-based Marriott International, a leading hospitality company, opened its first Courtyard brand of hotel in Saudi Arabia at a prime location close to the Diplomatic Quarter in Riyadh. Abdullah bin Abdul Rahman Al-Meqbel, Mayor of More… |
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UAE tops region for tourism receipts in 2012The United Arab Emirates has topped the Middle East region for international tourism receipts in 2012, a report said. Globally, the UAE was ranked 31st with receipts of about $10 billion, while Saudi Arabia claimed the 35th positi More… |
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Saudi firm delays Sudan deal over dollar curbsA Saudi firm will hold off its planned project in Sudan to produce wheat and other basic food items until the government eases a ban to repatriate profits, its head said on Monday. Sudan, prized for its fertile land and easy acces More… |
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MMG appoints advisor for debt restructuringSaudi contractor Mohammad Al Mojil Group (MMG) said on Monday it had appointed the investment banking arm of Gulf International Bank to advise it on a restructuring of its debts. No value of the amount of debt being restructured w More… |
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Dar Al Arkan to sell benchmark-sized sukukSaudi Arabia's Dar Al Arkan Real Estate Development Company is aiming to sell a benchmark-sized Islamic bond, or sukuk, this week after announcing initial price thoughts for the dollar-denomin More… |
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Kerzner signs Jeddah One&Only dealAl Khozama Management Company, a top Saudi developer, has signed an agreement with Kerzner International Holdings, a major operator of luxury hotels, in partnership with Saudi Oger, to develop and operate a new One&Only resort in Jeddah. More… |
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Saudi diesel import set to hit record levelsSaudi Arabia will import near record high diesel volumes this summer, as it gears up to beat the sweltering heat and meet rising travel needs during the fasting month of Ramadan, trade sources sai More… |
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Bahrain, Saudi hospitals in transplant tie-upBahrain’s Salmaniya Medical Complex (SMC) is tying up with the King Fahad Hospital in Saudi Arabia to create a cross-border transplant programme for patients needing a new kidney, liver or pancreas. Organs donated in Bahrain More… |
