Saudi Arabia

December 2, 2013

Saudi Arabia will open the new shipping line between Jeddah and Casablanca in an effort to boost commercial ties between the two countries (Courtesy of Wikimedia)
11:00 GMT

Trade exchange between Saudi Arabia and Morocco will jump to $7 billion by early 2014.

Iran's FM Zarif is meeting with top GCC officials as part of a regional tour to assure Gulf States that Tehran's nuclear deal is in the interest of the region (Yasser Al Zayyat/AFP)
08:28 GMT

Iranian Foreign Minister Mohammad Javad Zarif called on Saudi Arabia Monday to cooperate with Tehran on "[achieving regional] stability."

Saudi aid will help boost Egyptian construction, tourism and investment sectors. (Image credit: Shutterstock)
07:46 GMT

A senior official at the Ministry of Finance said Saudi Arabia would offer a new aid package to Egypt worth US$5 billion.

Saudi Arabia is planning to allocate more funding to develop renewable energy sources in the Kingdom (Shutterstock)
07:31 GMT

Saudi's Minister of Water and Electricity told reporters Sunday that the government will spend $29 billion (SR 110 billion) on new projects to improve water and power infrastructure

Sanbar is leaving to spend more time with his family, a second Saudi-based banking source said, adding deputy chief financial officer Mohammed Fahmy Soliman was seen as the most likely candidate to replace him.
03:55 GMT

The chief financial officer of Prince Alwaleed bin Talal’s investment vehicle, Kingdom Holding, is to leave the firm, two banking sources aware of the matter said.

December 1, 2013

KSA's foreign assets reached a record high of SR2.66 trillion ($708.8 billion) (Shutterstock)
08:13 GMT

Saudi Arabia's Monetary Agency released data this week that KSA's foreign assets hit a record high in 2013 as money supply growth reached a 14-month low.

Saudi has established the new SABIC R&D center in Bangalore as part of their strategy to reach "the important market of Asia" (Courtesy of Arabian Business)
07:27 GMT

Saudi Prince Saud Bin Abdullah opened a $100 million technology center in Bangalore, India this weekend. The new center, which is part of Saudi Basic Industries Corporation (SABIC), will be used for R&D in sectors ranging from construction and clean energy to electronics and transportation.

November 27, 2013

Nuclear may be the way of Saudi's energy future as industry leaders project a growth of job opportunities in this controversial sector (File Archive)
09:16 GMT

Leaders of Saudi industrial companies are meeting with French counterparts this week to discuss nuclear supply chain development and collaboration.

November 26, 2013

KSA will use solar power energy to operate its proposed seawater desalination plant (Shutterstock)
09:29 GMT

Saudi Arabia is planning to build the world's largest solar-powered seawater desalination plant in Ras Al Khaimah

KSA hopes the new port in Al-Lith will ease pressure on the overcrowded Jeddah port (Courtesy of Arabian Business)
08:39 GMT

Saudi Arabia announced Tuesday that it will build a massive, 43 million square port on its west coast to "lure investment" and "ease pressure on Jeddah."

November 25, 2013

Saudi newspapers headlining the deal made with major powers over Iran's disputed nuclear deal are seen on November 25, 2013 in the capital Riyadh. [AFP]
17:36 GMT

Saudi Arabia cautiously welcome a nuclear deal reached between Iran and world powers, saying "good intentions" could lead to a comprehensive solution".

Khalid Barashid, a property dealer, said the raids have pushed down land prices by 30 percent in suburban areas and wiped out illegal dealers.
09:51 GMT

The government’s correction campaign has pushed land prices down by 30 percent and closed more than 80 percent of unlicensed real estate offices, local media said quoting property experts.

Smoke billows outside the US Consulate in Jeddah in 2004. One man has been sentenced to death over his involvement in attacks, in which nine people died. (Image courtesy of worldonline.com)
08:54 GMT

A Saudi Arabian court has sentenced one man to death and 19 to long prison terms over their involvement in a 2004 attack on the US Consulate in Jeddah that killed five employees.

November 24, 2013

KSA will focus its infrastructure spending over the next twenty years on electricity and water facilities' upgrades (Courtesy of Arabian Business)
09:22 GMT

Saudi Arabia announced Sunday that it will spend $187 billion over the next 20 years in infrastructure projects.

November 21, 2013

Mukhtar Army militia commander Wathiq al-Batat. [alarabyah.net]
12:10 GMT

Iraqi Shiite militia commander says his group fired mortar bombs into Saudi Arabia as a "warning message".