Saturday 23 August 2014
 
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Saudi

Saudis spent $17bn on family tourism in 2013

Saudi Arabians spent a record SR64 billion ($17.1 billion) on family tourism last year thus topping the list of GCC countries, which contribute about 31 per cent of the total expenditures on tourism activities, said a report. Seco

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33 killed in Egypt bus crash

At least 33 people died and dozens were injured when two buses collided before dawn on Friday in Egypt's Sinai Peninsula, the state news agency and security sources reported. The Middle East News Agency (MENA) quoted local hea

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Saudi firms to face action for delayed projects

Punitive action will be take against companies that do not stick to schedule in implementing contract-based projects in Saudi Arabia, said a report. Makkah’s Governor Prince Mishaal bin Abdullah has formed a projects committ

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Saudi proposes 10pc foreign ownership cap for bourse

Saudi Arabia's stock market regulator proposed rules on Thursday for opening the $580 billion market to direct investment by foreign institutions, including a 10 per cent cap on foreign ownership of the market's value. Amo

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Saudi imports $200m worth of cement

Saudi Arabia has imported 3.1 million tonnes of cement worth SR750 million ($200 million) in the past nine months, said a report. Data released by the Customs Department said that the rise in cement imports is due to the increased

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Saudi reforms to boost foreign investment in focus

Saudi Arabia’s reforms being rolled out in a bid to boost foreign investment, including a landmark decision to liberalise the kingdom’s capital markets, will be the focus of a study. ‘The Report: Saudi Arabia 201

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Saudi likely to impose 20pc foreign ownership limit

Overseas investors in the Saudi Arabian stock market will face restrictions including a 20 per cent ceiling on combined foreign ownership of any listed stock, a major Saudi newspaper reported on Tuesday. The Capital Market Authori

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Blue chips lift Saudi index to six-year peak

Blue-chip stocks lifted Saudi Arabia's bourse to a new six-and-a-half year peak on Sunday, while other Middle East markets were mixed as low volumes led to choppy trading and a lack of clear direction. The Saudi index rose 0.5

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Saudi, Kuwait to abide by UN move on militant funds

Saudi Arabia and Kuwait agreed to comply with a United Nations resolution aimed at stopping financing for Islamist militant groups in Syria and Iraq after four of their nationals were named among a group blacklisted by the international body.

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IKEA annnounces plans for first store in Bahrain

IKEA Saudi Arabia, a leading home furnishings company, has announced plans to open its first store in Bahrain in a premium destination mall in the kingdom's capital Manama. The 30,000 sq m store will be part of the expansion plan by

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