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January 29, 2015

King Salman has announced several major cabinet moves. (File photo)
20:32 GMT
Oil Minister Ali al-Naimi is staying in place, Reuters reported.

January 28, 2015

When looking for a real estate agent you can trust, the first thing to take note of is their license and other credentials.
15:43 GMT
Overestimating the selling price for a property is one of the oldest tricks in the real estate agent’s book.
Saudi Arabia, as the world’s largest exporter of oil and the largest economy in the Arab world, has systemic importance to the world economy and the international financial markets.
14:02 GMT
Late King Abdullah bin Abdulaziz, the sixth king of Saudi Arabia, had a profound impact on the Saudi economy and oil policy.
The kingdom's reserves are estimated at $750 billion.
12:58 GMT
Saudi Arabia's new leadership will push forward efforts to diversify the growing but oil-dependent economy, while easing procedures for investors.
The U.S. shale revolution showed that forecasts of dwindling world oil supply were premature.
09:47 GMT
As the world’s oil producers wring their hands over a global glut that’s pushing down prices, evidence is mounting that Saudi Arabia is more concerned about shrinking demand.
Saudi Aramco will renegotiate some contracts and postpone some projects due to falling oil prices, the head of Saudi Arabia's state oil company said on Tuesday.
04:55 GMT
Saudi Aramco will renegotiate some contracts and postpone some projects due to falling oil prices, the head of Saudi Arabia's state oil company.

January 27, 2015

Mohammed bin Nayef bin Abdulaziz was born on August 30, 1959. He is one of the sons of the late Crown Prince Nayef bin Abdulaziz from his wife, Princess Jawhara bint Abdulaziz bin Musaid bin Jalawi al-Saud.(AFP/Fayez Nureldine)
13:22 GMT
The new Saudi King Salman declared the name of the deputy crown prince: Mohammed bin Nayef, the first grandson of the founder King Abdulaziz to assume the post. But who is the man that will carry the banner of the House of Saud in ruling Saudi Arabia in the future?

January 26, 2015

A still from the video, which shows Abdo crying over the king's passing. (Image: Albawaba Arabic)
14:04 GMT
Saudi Arabian singer Mohammad Abdo broke down in tears over Saudi King Abdallah's death this week.
Over 1,000 Saudi businessmen and companies in various sectors are expected to attend the March Economic Summit.
04:55 GMT
Egypt’s government has sent invitations to more than 6,000 businessmen and 120 countries to participate in the summit.

January 25, 2015


Also with the new King continuing to back the veteran Oil Minister Ali Al-Naimi, any possibility of Naimi finally hanging his boots also disappeared
13:12 GMT
The passing of King Abdullah in the early hours of Friday led to speculation that a leadership transition could result in a change to the country’s oil policy and strategy.
In October, a document showed Germany’s national security council approved the export of arms to Saudi Arabia, Qatar and other countries in the Middle East.
12:52 GMT
Germany has decided to stop exporting arms to Saudi Arabia, the German newspaper Bild am Sonntag said on Sunday, citing government sources as saying the kingdom was “too unstable”
The Gulf powerhouse now finds itself locked in a battle for market share against unconventional producers
12:11 GMT
King Abdullah's death could not have come at a worse time for Saudi Arabia's vital oil sector as the absolute monarchy seeks to reassert its leadership in a fast-changing industry.
“The recent fall in the oil price is also a warning that the region cannot be over-reliant on energy resources for GDP growth."
04:55 GMT
The proposed Arab Stabilisation Plan, ASP, would build a regional framework to promote infrastructure investment and create jobs.

January 24, 2015

His Childhood:  Abdullah was born in 1924 in Riyadh, the fifth (or tenth!) son of Saudi Arabia's founder, Abdulaziz bin Abdulrahman Al Saud, better known as Ibn Saud. His mother was from the Al Rashid dynasty, Bedouin rivals of the Al Saud. As a boy, he suffered from a speech impediment.
19:30 GMT
Reformist or stagnating ruler? Turns out the late King Abdullah of Saudi Arabia was a lot of things. Here's the decade-long King in twelve slides.
Iranian Foreign Minister Mohammad Javad Zarif, who arrived in Riyadh Saturday, previously declined an invitation to visit Saudi Arabia. (AFP/File)
18:32 GMT
Iranian Foreign Minister Mohammad Javad Zarif arrived in Riyadh. He will offer his condolences after the death of Saudi King Abdullah.
Lindsay paid a tribute to the late King Abdullah on her Instagram account. (Image: Mytopfbcover.com)
16:53 GMT
Seriously, why did Lindsay Lohan post an Instagram about Saudi Arabia's King Abdullah's death?
King Abdullah bin Abdulaziz died early on Friday and his brother Salman became king of the world's top oil exporter.
15:28 GMT
Oil prices rose on Friday after the death of Saudi Arabia's King Abdullah added more uncertainty to an oil market that has more than halved over the last six months.
A tantalizing possibility is that King Salman could now accelerate some economic reforms that have been proceeding only slowly.
15:10 GMT
Saudi Arabia’s new king is expected to focus economic policy on creating jobs and multibillion dollar infrastructure projects to prevent tumbling oil prices from causing social tensions or undermining business confidence.
Among other leaders to offer condolences in Beirut were U.S. Ambassador David Hale and Progressive Socialist Party leader Walid Jumblatt. (AFP/File)
14:30 GMT
Following the early Friday death of Saudi King Abdullah, Lebanese officials joined international voices when Saudi Ambassador to Lebanon Ali Awad Asiri was consoled by hundreds in downtown Beirut.
U.S. President Obama and Saudi King Abdullah are pictured during a meeting in the White House in 2010. (AFP/File)
11:14 GMT
In the wake of the death of Saudi King Abdullah, U.S. President Barack Obama plans to cut his visit to India short and fly to Saudi Arabia on Tuesday.
"What is happening now is Kingdom policy, not just the King's policy," said analyst Yasser Elguindi of Medley Global Advisors
10:59 GMT
Saudi Arabia's new King Salman was quick to keep veteran oil minister Ali al-Naimi on Friday in a message aimed at calming a jittery energy market mindful of Naimi's powerful role.
King Salman, although rumored to be in poor health himself, has asserted that a Saudi Arabia under his rule will not differ much from his predecessor and half-brother, King Abdullah. (AFP/File)
08:05 GMT
With impending social issues and a tense economic environment at home, and regional and international interests looming outside his country's borders, newly appointed Saudi King Salman has moved quickly to appoint younger heirs, reassuring of a path not far from the late King Abdullah's, and a successor plan for years to come.

January 23, 2015

King Abdullah was heavily criticized for Saudi Arabia's human rights record, but has been praised for advancing women's rights in the country. (Photo: AFP)
22:20 GMT
Tributes, condolences and kind words have continued to pour in for King Abdullah following his death early on Friday.
Daesh and other Islamic fundamentalists have taken to social media to celebrate the death of the king. (Photo: AFP)
18:16 GMT
Islamic fundamentalists and those who support them took to social media to celebrate the death of the late Saudi King Abdullah on Friday, the Associated Press has reported.
Israel's former president Shimos Peres said King Abdullah was "an experienced leader and a wise king."(Photo: AFP/Gali Tibbon)
16:51 GMT
Israel's former president Shimon Peres Friday said the death of Saudi Arabia's King Abdullah was "a real loss for the peace of the Middle East."
World leaders took part in a funeral prayer at the Imam Turki Abdullah mosque in Riyadh. (Photo: AFP Photo/Ho/Saudi TV)
15:23 GMT
Leaders from around the world gathered in Riyadh on Friday for the funeral of King Abdullah who passed away aged 90, after being admitted to hospital in December.
Saudi Arabia has come under widespread criticism for its approach to human rights. (Photo: AFP/Jiji)
14:25 GMT
Amnesty International has lashed out at the Western leaders for turning a blind eye to human rights violations in Saudi Arabia, voicing concern over the fate of the jailed Saudi activist, Raif Badawi.
Saudi Arabia's new King Salman has given the post of defense minister to his son. (Photo: Fayez Nurdeline/AFP File)
11:26 GMT
The new Saudi king has appointed his son as the country's new defense minister, Saudi state television has reported.
Concerns have been raised over the health of the new king. (Photo: AFP)
10:31 GMT
The death of Saudi Arabia’s King Abdullah earlier this morning has placed the crown in the hands of his younger half-brother King Salman. But who is this veteran ruler?
Saudi Arabia's new king had served as defense minister since 2011. (Photo: AFP)
09:59 GMT
Saudi Arabia's new king promised Friday to continue the policies of his predecessors in a nationally televised speech, taking control of the kingdom after the death of its 90-year-old ruler.
Many countries in the region have declared periods of mourning following Saudi King Abdullah's death. (Photo: AFP/Awad Awad)
09:36 GMT
Leaders from across the Middle East have paid tribute to the late King Abdullah bin Abdulaziz, who died on Friday morning.
King Abdullah had ruled Saudi Arabia since 2006. (Photo: AFP)
08:08 GMT
President Obama has released a statement in response to King Abdullah's death, Reuters has reported.
King Abdullah was admitted to hospital in December. (Photo: Fayez Nureldine/AFP/Getty Images)
06:39 GMT
Saudi Arabia's King Abdullah has died aged 90, after being admitted to hospital in December. He will be succeeded by his brother, Crown Prince Salman.

January 22, 2015

Oil prices are unlikely to fall further after a plunge of nearly 60 percent since June,
17:43 GMT
“Our estimate is that the prices have reached the bottom. It is very difficult to drop lower than this,” Abdul Mahdi told a conference in Kuwait.
He blamed the private sector for employing unskilled expatriates just because they are cheap hands.
17:40 GMT
About 2.5 million expatriates are either illiterate or have little or no education at all, Makkah Arabic daily reported on Wednesday.
Saudi Film Festival is coming up next month. (Image: riyadhconnect.com)
10:46 GMT
Dozens of films are coming to the screen next month for the Second Saudi Film Festival.

January 21, 2015

The deal was awarded by the Hanwha Engineering and Construction
21:24 GMT
Alderley, a leading engineering company operating in the oil, gas, petrochemical and water industry, has won a contract to supply nine oil metering systems and small volume provers for a project in Saudi Arabia
The ambition was to save more crude oil for export.
15:00 GMT
Saudi Arabia is delaying by eight years its target of completing a clean-energy program that includes a $109 billion solar power project.

January 20, 2015

In early afternoon London deals, Brent North Sea crude for delivery in March fell 48 cents to trade at $49.69 per barrel.
12:50 GMT
Saudi Arabia can cope with low oil prices for "at least eight years", Saudi Arabia's minister of petroleum's former senior adviser has told the BBC.

January 19, 2015

NADEC registered SR 20 million in fourth-quarter net profit.
13:44 GMT
The National Agricultural Development Company (NADEC) achieved net profits amounting to SR 107 million net profits in 2014.
The Gulf’s largest listed company earned SAR4.36 billion ($1.16 billion) in the three months to Dec. 31 compared to SAR6.16 billion a year earlier,
04:55 GMT
Saudi Basic Industries Corp (SABIC), one of the world’s largest petrochemicals groups, reported a 29 per cent plunge in fourth-quarter net income on Sunday.

January 18, 2015

But Saudi Arabia is seemingly focusing more on institutional investors, a move that could be destabilising.
21:58 GMT
Stock markets in the GCC have had a rough few weeks, following the recent drop in oil prices.
Security in the kingdom was increased after a Daesh attack, which killed a senior Saudi general last week. (AFP/File)
08:22 GMT
Saudi security forces have begun building a security wall along the border with Iraq in a bid to prevent potential attack from Daesh.

January 17, 2015

Riyadh is at the top of the list of Saudi cities suffering a shortage of land supply, Al Duwaihi said.
04:55 GMT
Saudi Arabia's housing ministry is moving to tax undeveloped land, official media quoted the housing minister as saying, in a policy that could help to end a shortage of homes and spur economic growth.