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Delay in implementing Saudization plan urgedSaudi Arabia’s Labour Ministry has been asked by the Council of Saudi Chambers (CSC) to delay by three years the implementation of a programme to increase the percentage of Saudis working in private firms, a report said. &ld More… |
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Saudis 'don't see oil demand destruction'Saudi Aramco's decision to increase crude prices for Asia while trimming them for Europe, although reflecting movements in the regional benchmarks, also shows that higher prices have yet to bring demand destruction, says a Reuters analyst. More… |
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GIB board trimmed in shake-upGulf International Bank (GIB) had a major shake-up of its boardroom yesterday as it trimmed the number of directors from 10 to seven. The board has historically had one director from each of the GCC states but at the ordinary general meet More… |
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24pc of Saudis late on re-paymentsA quarter of Saudi borrowers have fallen behind on loan repayments, affecting some 200 financial institutions, the head of a credit bureau said. Consumers who have fallen behind make up 24 percent of borrowers in the kingdom, Nabil Al-Mub More… |
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Pakistan bomb attack toll 45; 6 Saudis missingThe death toll in the truck bomb attack on the Marriott Hotel in Islamabad on Saturday rose to 45 and the police said nearly 250 were wounded. Two charred bodies were found lying in the burnt ruins of the hotel on Sunday morning, and a sea More… |
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Low-income Saudis get $306mSaudi Arabia is to pay low-income Saudis an extra 1.15 billion riyals ($306 million) in aid during the fasting month of Ramadan, state media said. The grant ordered by King Abdullah will be distributed to families covered by social welfare More… |
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Saudis set no limits on foreign stock ownershipSaudi Arabia has set no limit on the number of shares which non-resident investors can own in listed firms under groundbreaking new guidelines it issued last week that opened the door to foreign buyers. The Capital Market Authority (CMA) l More… |
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US senators pressure Saudis to boost oil outputDemocrats, trying to pressure Saudi Arabia to boost oil output, introduced a legislation in the Senate on Tuesday that would stop a $1.4 billion US arms sale to the kingdom. "We are saying that we need real relief and we need it quickly. Y More… |
Saudis 'bring back funds to invest in realty'Saudi businessmen have brought back a large part of their funds abroad to invest in the highly profitable construction and real estate sector which is going through a boom period, according to a regional study. The upsurge in the kingdom’s More… |
Saudis urged to benefits from WTOThe economy of Saudi Arabia is booming and it needs more market access to realise its full potential, according to officials of two international trade bodies. Addressing a meeting at the Jeddah Chamber of Commerce and Industry (JCCI), Val More… |
