Saudi Arabia

August 27, 2014

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

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.

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

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.