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Many experts, including Al-Bloushi, believe there is a real need to educate people about the nature of work in the currency market and its outcome on investors and dealers.
09:19 GMT
It’s estimated that around 40 percent of Saudi dealers in the forex market are incurring losses due to their ignorance in currency market tools.
Saudi Arabia’s market, on the other hand, lacked clear direction and was nearly flat as oil edged down towards $62 per barrel.
08:10 GMT
Egypt’s stock market rebounded on Monday after bullish comments from government officials and executives and signs that the planned parliamentary election will go ahead soon.

March 2, 2015

Abdul Latif Jameel League logo
17:25 GMT
Football players born in Saudi Arabia have been given the green light to play for club teams after the Saudi Arabian Football Federation relaxed its rule on expatriates looking for playing opportunities in the local league.
Saudi consul to Aden, Abdullah al-Khalidi (Photo: Screenshot)
12:42 GMT
A Saudi diplomat was released after spending three years as an al-Qaeda hostage in Yemen.
Ah, that middle finger. Maybe not used everywhere, but most understand its meaning. It can get you deported from the UAE, where it violates decency codes. This version comes on a Jordanian eyeglass case, useful when your optician wants to convey that your vision is f*cked.
08:43 GMT
Here in the modern, multilingual Middle East, where many people in the major cities have a tenuous (or better) command of English, the opportunities for skewed communication go far beyond comic cab conversations.

March 1, 2015

The general reserve of the government accounts for 60 percent of the total government reserves and deposits, allocations for government projects is 32 percent and government’s current account 8 percent.


17:50 GMT
The government’s reserves and deposits with the Saudi Arabian Monetary Agency (SAMA) dropped at the end of January to SR1.39 trillion ($ 37 billion), the lowest level in 21 months.


Egypt's president is expected to meet with Saudi's new king. (Al Bawaba/File)
13:59 GMT
Egypt's President Abdel-Fattah El-Sisi will meet with Saudi Arabia's new king in Riyadh on a scheduled visit.
However, withstanding a long period of oil prices below $60 per barrel might be problematic even for cash-rich Saudi Arabia
07:44 GMT
OPEC kingpin Saudi Arabia is feeling vindicated after a strategy of allowing oil to flood the market has begun to achieve what it was aiming for.

February 27, 2015

The countries relocated their embassies to Aden, a port city on the southern coast of Yemen. (AFP/File)
05:55 GMT
Saudi and Qatari ambassadors resumed their work in the southern Yemeni city of Aden, reported a Hadi-aid on Thursday. The embassies in Sana'a were evacuated in mid-February due to security concerns.

February 26, 2015

US shale oil output growth is not expected to start slowing before the second part of 2015.
21:46 GMT
Opec kingpin Saudi Arabia is feeling vindicated after a strategy of allowing oil to flood the market has begun to achieve what it was aiming for.
Global oil prices have sat above $100 a barrel for the best part of the past five years, partly due to soaring demand from China.
20:36 GMT
Following last year’s surprise move by Opec (Organisation of Petroleum Exporting Countries) to counter the growing US shale oil industry, crude prices have plunged to below $55 a barrel.
The Saudi government said Thursday it is committed to fighting drug smuggling, one of many crimes punishable by death in the country. (AFP/File)
15:00 GMT
The Saudi government said Thursday it is committed to fighting drug smuggling, one of many crimes punishable by death in the country.
Officials identified four of the five victims of a fire in Saudi Arabia as Bangladeshi, a labor counselor said Thursday. (Screenshot: Twitter)
13:00 GMT
Officials identified four of the five victims of a fire in Saudi Arabia as Bangladeshi, a labor counselor said Thursday.

February 25, 2015

In our view, it is intended to mean the party engaged to build the works (i.e. the constructing contractor) and not a designer or supervisor.
19:11 GMT
As Saudi Arabia has this key difference, it is important to understand the essential principles guiding construction contracts in the kingdom.
The timing is sensitive as Riyadh is preparing to open its stock market, the largest Arab bourse, to direct investment by foreigners this year.
14:10 GMT
Mobily’s rise was remarkable. It turned profitable in 2006, a year after launching operations, and annual profits soared 854 per cent between then and 2013.
King Abdullah II (L) met with the late Saudi King Abdullah bin Abdul Aziz al-Saud in the Red Sea port of Jeddah on August 14, 2014. (AFP/File)
13:30 GMT
King Abdullah will meet with King Salman on Wednesday to discuss the strengthening of ties between Saudi Arabia and the Hashemite Kingdom of Jordan,
It would mean that international buyers would have access to new sellers of energy that could be purchased at competitive prices and in turn drive down the price of Saudi Arabian oil.
09:47 GMT
US politicians are pushing to lift the country’s ban on crude oil exports, a move that if successful would challenge Saudi Arabia’s long held dominance over the global oil market.
Al-Naimi was the driving force behind Opec's recent shift in policy choosing not to cut output at its last meeting in November to support oil prices.
09:35 GMT
"Markets are calm now ... demand is growing," Al-Naimi told reporters on the sidelines of a conference in the port city of Jizan, southwest Saudi Arabia.
The convicted belonged to a 36-member terrorist cell. (Shutterstock)
09:30 GMT
Two men belonging to a terrorist organization were sentenced to death on Tuesday by Saudi's Special Criminal Court for plotting to hijack an airplane.

February 24, 2015

At least 13 men were found guilty Tuesday of recruiting al-Qaeda members and helping Osama bin Laden find shelter. (AFP/File)
17:51 GMT
At least 13 men were found guilty Tuesday of recruiting al-Qaeda members and helping Osama bin Laden find shelter.

February 23, 2015

A very small percentage of expatriates, working in managerial positions, are paid huge salaries but the vast majority is not.
19:44 GMT
The Labor Ministry has forced the minimum wage on the private sector to make sure that Saudis will not be exploited, the same should be done for expats.
In 2002, Saudi Arabia opened its telecoms market to competition.
17:02 GMT
Mobile and landline calls between telecom service providers will now be cheaper after the Board of Directors of the Communications and Information Technology Commission (CITC) approved a reduction in rates.
The weapons are currently in route to Lebanon, after having been delayed for over a year. (AFP/File)
08:30 GMT
After a one year delay, $1 billion worth of weapons purchased through a Saudi Grant agreement with France will soon arrive in Lebanon.
Turkey already has a law that permits Saudis to own real estate in the country.
07:42 GMT
Turkey is planning to offer citizenship to Saudi investors, Turkish Deputy Prime Minister Ali Babacan said here on Sunday.
The kingdom has made appraisals of unconventional gas potential in its northwest, Eastern Province and Empty Quarter.
07:33 GMT
"Saudi Arabia will be the next frontier after the US, where shale and unconventional will make a significant contribution to our energy mix, especially gas."

February 21, 2015

SYRIA (177/180): Daesh is in Syria, but the Syrian regime is just as deadly. While Daesh is estimated to have murdered at least 20 reporters — dozens of Arabs don’t make headlines — the regime has killed nearly as many. Warring factions in the country have made it impossible to cover the conflict without being targeted. (AFP/File)
15:15 GMT
More journalists have been targeted and killed than ever before. The deadliest region? The Middle East.
Saudi film festival opens despite cinema ban in the ultra conservative country! (Image: Arab News)
13:47 GMT
Saudi film festival opens despite cinema ban in the ultra conservative country!

February 19, 2015

Aramco has been seeking to make inroads into more advanced chemicals to diversify away from its oil and basic petrochemicals businesses.
23:07 GMT
State oil giant Saudi Aramco is talking to banks about taking a $10 billion loan for general business purposes.
Two-day meetings in Saudi's capital Thursday sought to bolster the Iraqi army against Daesh. (AFP/File)
15:25 GMT
Two-day meetings in Saudi's capital Thursday sought to bolster the Iraqi army against Daesh.
There have been 897 confirmed MERS cases in Saudi Arabia since the coronavirus was first detected in June 2012. (AFP/File)
14:22 GMT
There have been 897 confirmed MERS cases in Saudi Arabia since the coronavirus was first detected in June 2012.
Maisa is in love and celebrating her recent nuptials. (Image: Albawaba file)
12:27 GMT
Maisa Moghrabi's secret is out: Moroccan starlet married in secret TWO months ago!

February 18, 2015

Saudi Arabia's terrorism tribunal confirmed Sunday the latest verdict against the human rights lawyer. (Screenshot: Twitter)
16:09 GMT
Saudi Arabia's terrorism tribunal confirmed Sunday the latest verdict against the human rights lawyer.