Saturday 25 June 2016
 
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Saudi

Oil's supply-demand balance improving: Al Falih

Oil markets are improving as supply and demand are almost balancing, Saudi Arabia's energy minister said in comments aired on Thursday.   "We see that the market has returned into balance. Supply and dem

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Al Zamil, Swiss International in Saudi hotel deal

Al Zamil real estate group, one of the arms of the Zamil Group, has signed an agreement with hospitality chain Swiss International for a new hotel at Al Qassim Touristic City project in Saudi Arabia. Al Zamil real estate group dev

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Swiss International inks new Saudi hotel deal

Hospitality group Swiss International has signed a management agreement with Al Zamil real estate group to develop a new hotel at Al Qassim Touristic city project in Saudi Arabia. Al Zamil real estate group is one of the arms of t

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Saudi white land tax 'to cut property prices by 40pc'

The introduction of the 2.5 per cent annual tax on unused land by the Saudi government is likely to bring down the property prices by up to 40 per cent in areas outside the main cities, said a report. The new 'white land tax&#

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MMG board quits after 3 sentenced

An effort to restructure debt-burdened Saudi builder Mohammad Al Mojil Group (MMG) was thrown into doubt on Monday when the firm said its board had resigned after three people involved with the company were sentenced to jail. Last

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Six Flags Entertainment seeks to open Saudi theme parks

US theme park company Six Flags Entertainment Corp plans to expand to Saudi Arabia, its chief executive told Saudi-owned Arabiya TV on Monday, bringing roller coasters and bumper cars to the kingdom. "We're very honoured

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Rezidor announces two new Dammam hotels

Rezidor, one of the most dynamic hotel companies worldwide, is expanding its global portfolio with plans for two new hotels in Dammam, Saudi Arabia. The mid-scale Park Inn by Radisson Hotel & Residence Dammam Industrial City w

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Saudi bars Deloitte from audit over MMG case

Saudi Arabia's market regulator said it had barred the local unit of New York-based accountancy firm Deloitte & Touche from providing accounting services in the kingdom for two years for breaching rules on accumulated losses.

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Chinese HVAC giant eyes GCC market for growth

Gree Appliances, a Chinese giant in the heating, ventilation and air-conditioning (HVAC) industry, has registered a solid growth in its annual sales which hit 40,000 units in the first year of operation, mainly driven by demand from Saudi Arabia

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JLL welcomes Saudi 'white land tax' move

Leading real estate investment and advisory firm JLL has welcomed the Saudi cabinet's approval for a number of regulations for the introduction of the "white land tax" in the kingdom. The important features of these

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