Wednesday 23 July 2014
 
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Saudi Arabia

Tech Mahindra, Midad form Saudi JV

Tech Mahindra, a specialist provider of connected solutions, has signed a joint venture agreement with Midad Holding, which is a subsidiary of Al Fozan, a leading Saudi group with diversified business interests.   Tech Mahindr

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Saudi boosts security on Iraq frontier

The group now calling itself the Islamic State rampaged across the border between Syria and Iraq a month ago and has since declared a caliphate across a swathe of the Middle East from Aleppo to the outskirts of Baghdad. But if its

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Saudi inflation stays unchanged

Saudi Arabia’s inflation rate remained unchanged at 2.7 percent, year-on-year, for the third consecutive month in June, a report said.   Foodstuffs and housing and related services remain the main sources of inflation d

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Coca-Cola venture buys into Lebanon firm

Aujan Coca-Cola Beverages Company (ACCBC), a venture between Coca-Cola Co and Saudi Arabia's Aujan Industries, said it had acquired a majority stake in National Beverage Co, a maker and distributor of Coca-Cola and other drinks in Lebanon.

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NCB posts 22pc Q2 net profit jump

National Commercial Bank, which later this year is expected to list its shares in one of Saudi Arabia's largest initial public offers, posted a 22 per cent jump in second-quarter net profit on Sunday. The kingdom's biggest

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Saudi private sector expansion continues

The Saudi Arabian non-oil private sector continued expansion during June, with output growth quickening to a 26-month high, a report said. New business from abroad also improved, albeit at a slower pace than total new orders, said

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Al Rajhi Bank Q2 profit slips 8.2pc

Al Rajhi Bank, Saudi Arabia's largest listed lender, posted a 8.2 percent decrease in its second-quarter net profit, it said in a bourse statement on Sunday, in line with analyst forecasts. The bank said it made 1.95 billion r

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First driverless car launched in Saudi

BYD Auto, a Chinese automobile manufacturer based in Shenzhen, recently launched its first car in Saudi Arabia that can be driven without a driver through a remote control, a report said. Ibrahim Qahtan, general manager of BYD Ara

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Housing programmes ‘driving Saudi property sector’

Housing programmes launched by Saudi Arabia’s Ministry of Housing and the positive outlook for real estate financing remain key drivers of the kingdom’s real estate market, said an industry expert. “The sector co

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Al Falak wins VAR Arabia distributor award

Al Falak Electronic Equipment & Supplies Company, a leading ICT solutions provider, has been named ‘Best Retail Distributor’ at the VAR Arabia Awards, which recognises Saudi Arabia’s top performing IT channel.

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