Most Popular

August 28, 2014

Petrochemicals supported the uptrend of the kingdom's stock market (File/AFP)
11:33 GMT
The Tadawul All-Share Index breached 11,000-mark with a six-year high. Strong global demand for petrochemicals supported the increase.
Saudi Arabia's unemployment rate is believed to be around 11.4 percent (File/AFP)
10:46 GMT
Saudi authorities denied reports that a proposal to reduce public sector working hours to 40 a week was being scrapped.
The economic outlook for Saudi Arabia remains favorable, with GDP growth expectations to stay above 4 percent in 2014 and 2015
09:26 GMT
Dun & Bradstreet South Asia Middle East Ltd (D&B) in association with the National Commercial Bank released the D&B Business Optimism Index (BOI) survey for Saudi Arabia for Q3, 2014. The BOI survey highlights the weakening of optimism levels of both the hydrocarbon and non-hydrocarbon sectors.

August 27, 2014

Picture distributed by the Islamic State, showing militants including a commander known as Abu Waheeb. [Mashable]
16:57 GMT
ISIL militants have reportedly threatened to attack Saudi Arabia during Eid-Adha (the Feast of Sacrifice) that marks the culmination of the annual Hajj pilgrimage, a report says.
A draft of the new labour law initially stipulated a 40-hour working week, down from 48
10:26 GMT
A plan by Saudi Arabia’s labour ministry to give two days off a week in the private sector is being shelved following tremendous pressure from investors and the business community.
Prince Faisal bin Salman praised the holy city for its efforts to encourage young people into business (File/AFP)
09:54 GMT
Prince Faisal bin Salman said Medina is an investment-friendly province and called for young people to put their ideas into viable projects.
The new guide also includes information on small-business growth
08:41 GMT
Research and consultancy firm Oxford Business Group published a new guide to Saudi Arabia's economy and finance.
Hossein Amir Abdollahian was in Jeddah for talks with Saudi government officials. (AFP/File)
07:12 GMT
Saudi and Iranian officials met for talks for first time since Hassan Rouhani was elected president in an effort to thaw relations between the two countries.
That occupancy rates have dropped by 50 percent over the past week
06:57 GMT
Children’s new bedtimes for school are keeping families away from entertainment venues, leading to a sharp dip in revenues following an extravagant 100-percent occupancy rate during Ramadan and Eid.

August 26, 2014

Up to 70 percent of Saudi Arabia's produce is imported, making it ideal for global markets (File/AFP)
11:08 GMT
Food imports have a key role to play in Saudi Arabia's booming agriculture industry. While the Kingdom emerges as a key player for food trade, it is because almost 70 percent of it is imported.
The program is intended to cut down unemployment among less educated Saudis
09:46 GMT
The Jeddah Chamber of Commerce and Industry is hosting a program for training Saudis with high school education or less in coordination with public and private sector agencies.
Saudi Arabia is a strategic partner with the Sudan in investments
06:56 GMT
Saudi investments in the Sudan are expected to cross $13 billion (SR48.75 billion) in the next few months, particularly following a decision on canceling entry visas for Saudi investors.

August 25, 2014

Iran's Deputy Foreign Minister Hossein Amir-Abdollahian [AP]
12:28 GMT
Shi'ite Muslim Iran and Sunni Saudi Arabia are enmeshed in a struggle for influence across the Middle East and back opposing sides in conflicts across the region.
Saudi Arabia's coffee industry is worth $267 million annually (File/AFP)
12:20 GMT
They say it's a sign of good hospitality when you offer visitors a cup of coffee! Saudi Arabia is the largest coffee consuming country in the world with an industry worth $267 million.
Dubai’s top 10 tourism source markets remained for the most part unchanged compared to the previous year
06:48 GMT
Saudi Arabia continued to be Dubai’s primary source market as more than 5.8 million tourists stayed in Dubai hotels during the first half of 2014.

August 21, 2014

“During the past Ramadan and Eid seasons, economic revenues increased as passenger and transportation activity flourished by 50 percent due to the large number of individuals traveling to and from the holy cities.”
04:55 GMT
Saeed Al-Bassami,has revealed that Saudization is one of the main challenges facing the surface transportation sector in the Kingdom.

August 20, 2014

Under the scheme, stranded workers can seek a job with employers whose job opportunities match their profession.
04:55 GMT
Labor Ministry spokesman Tayseer Al-Mufarrej said that the new arrangement was aimed at protecting the interests of both sponsors and workers during their contractual period of employmen

August 19, 2014

Local lenders in Saudi Arabia are dominating the market, prompting overseas banks to surrender their licenses as they struggle to compete.
21:13 GMT
Some international banks have started shrinking in Saudi Arabia even as the kingdom plans to open its $577 billion stock exchange to direct international investment
Militants from the Islamic State have been terrorizing Iraqi citizens and taking control of major Iraqi cities since June. (AFP/File)
17:07 GMT
Saudi Arabia's Grand Mufti Sheikh Abdul Aziz al-Sheikh has strongly condemned ISIS in recent statements.
The new arrests came as security authorities weigh options to issue tickets to both illegal workers and their employers instead of arresting them, sabq.org reported.
04:55 GMT
The Interior and Labor ministries have stepped up their campaign to drive out residency and labor rule violators across the Kingdom after arresting nearly 8,500 foreigners in the Makkah region over the past two months.

“Petrochemicals stocks are very promising - SABIC is probably the cheapest global petrochemical producer and I expect it will be one of the first stocks to be allowed direct foreign ownership,” said Chawdhry.
01:04 GMT
The Saudi Tadawul All Share Index rose 0.48 percent to close at 10,639.04 points, its highest finish since January 2008 and its 13th gain in the 15 sessions since authorities announced plans to allow direct foreign ownership of shares early next year.

August 18, 2014

Saudi Foreign Minister Prince Saud Al-Faisal (AFP/ File Archive).
16:00 GMT
Saudi Foreign Minister Prince Saud Al-Faisal met Sri Lankan Ambassador Mohamed Hussein Mohamed in Jeddah on Sunday to discuss strengthening bilateral relations.
King Abdullah's donation was in response to a proposal made by the World Food Program (File/AFP)
13:20 GMT
King Abdullah donated an additional $1 million for Palestinian families in the West Bank, which would benefit up to 81,000 people.
Police have yet to identify the attackers. (AFP/File)
10:03 GMT
Armed men attacked the motorcade of a Saudi prince Monday.
The Saudi woman should be the sole breadwinner for the family and not her husband. In the second case,
04:55 GMT
The housing crisis in Saudi Arabia is considered to be one of the biggest problems in society as over 70 percent of Saudi nationals do not own their own homes.

August 17, 2014

Fuad Masoum made the comments in his first major interview since becoming Iraq's head of state on July 24 (File/AFP)
14:04 GMT
Iraq's President Fuad Masoum said his government would make a "series of communications and initiatives" with Saudi Arabia to ensure strong ties with the kingdom.
Activity is dominated by about 4.3 million retail investors who buy stocks straight from the market rather than going through professional fund managers.
10:44 GMT
Saudi Arabia is one of the last major markets in the world to open up, so the reform is attracting massive interest among international fund managers