Friday 6 May 2016
 
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Saudi Arabia

Dur to build new Marriott hotel in Saudi Arabia

Dur Hospitality will be developing the first Courtyard by Marriott and Residence Inn by Marriott properties in Yanbu, Saudi Arabia, following the signing of a franchise agreement with Marriott International during the Arabian Hotel Investment Co

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Saudi firms cope with austerity; more pain may lie ahead

Saudi Arabian companies are faring better in an era of austerity than many investors feared, but they face more pain in the coming months as gains from cost-cutting and efforts to improve efficiency become more difficult. The worl

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Bahri signs $186m loan for oil tankers buy

The National Shipping Company of Saudi Arabia has signed a SR700 million ($186.7 million) loan to partly-finance the purchase of three very large crude carriers (VLCCs), the company known as Bahri said in a bourse filing on Thursday.

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Bahri signs $186m loan for oil tankers buy

The National Shipping Company of Saudi Arabia has signed a SR700 million ($186.7 million) loan to partly-finance the purchase of three very large crude carriers (VLCCs), the company known as Bahri said in a bourse filing on Thursday.

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Saudi Arabia lifts project ban on Binladin: report

The government is allowing major builder Saudi Binladin Group (SBG) to resume bidding for state projects, Al-Watan newspaper reported on Thursday, in a decision that may ease the financial pressure on the troubled firm and banks which l

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Riyadh transport project work on track

The $22.5-billion Riyadh Public Transport Project (RPTP) is on track and moving ahead well, the  city's governor has been quoted as saying. The project includes construction of a metro, a bus system and other transport se

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Saudi Arabia, Sudan to explore for Red Sea minerals

Sudan and Saudi Arabia have agreed to start exploring for mineral resources, including silver and gold, in the Red Sea by 2020, Sudanese Minister of Minerals Ahmed Sadiq Al-Karouri said on Wednesday. The two Arab countries, which

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Saudi's Tadawul to select IPO advisers soon

The banks to advise the Saudi Stock Exchange on its initial public offering (IPO) will be selected in the coming days, the bourse's CEO said on Tuesday, suggesting that it could opt for both local and international banks to provide broader e

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Saudi eyes new quotas, incentives to cut unemployment

Saudi Arabia's government plans a new set of labour quotas and incentives to reduce unemployment as it tries to wean its economy off oil exports, Labour Minister Mufrej Al-Haqbani said. The changes are part of a wider reform p

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Strong fundamentals drive Saudi retail market

The sheer size of the Saudi Arabia market driven by a growing, young population with a high disposable income represent good long-term potential for brands entering the market, said an industry expert. “The Saudi retail mark

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