Saudi Arabia

October 5, 2014

IMF Managing Director Christine Lagarde speaks at Georgetown University in Washington on Oct. 2, 2014 ahead of the annual IMF/WB meetings. (AFP/Nicholas Kamm)
08:38 GMT

IMF managing director Christine Lagarde warned of the fragile recovery of the global economy and the effects of the turmoil in the Middle East, especially the war against ISIS and the instability of Iraq and Syria, which could trigger higher global oil prices.

October 3, 2014

A pilgrim feeds the birds while worshippers arrive at the Grand Mosque, home to the Kaaba, September 29th, 2014 (File/AFP)
09:52 GMT

Fifteen Egyptian pilgrims died in Mecca from various reasons, including a 56-year-old man who died as a result of severe hypertension, officials reported.

October 2, 2014

The Saudi government had requested the purchase of 202 Patriot Advanced Capability (PAC)-3 missiles -- the most sophisticated version of the Patriot anti-missile weapons.
16:30 GMT

"The proposed sale will help replenish Saudi's current Patriot missiles which are becoming obsolete and difficult to sustain due to age and the limited availability of repair parts," the agency said.

With oil prices continuing to slide, the pressure is building on the Organization of the Petroleum Exporting Countries (Opec) to reduce output at its meeting next month.
14:43 GMT

"Opec appears to be gearing up for a price war."...."I think Brent will fall below $88 before we see the bottom of the market."

Horiya and Hassan were amongst the celebs performing Hajj this year. (Image: Facebook)
10:34 GMT

Actors Hassan Al Raddad & Horiya Farghaly make their way to the Holy Muslim pilgrimage of Hajj in Mecca.

October 1, 2014

Saudi Arabia is the second-largest petroleum exporter to the US, but as domestic production increases in America, less is needed from abroad.Saudi Arabia is the largest exporter of petroleum liquids in the world and is home to the world’s largest proven crude oil reserves, 16 percent of the world’s total.
12:52 GMT

The shale oil boom in the US began in 2008 and has increased US crude output by 60 percent

The two brands being launched by VMMEA are Virgin Mobile, aimed at the youth market, and Friendi Mobile, targeting Saudi's expatriate workers.
04:55 GMT

The launch, days before the annual haj pilgrimage, is timely. An estimated 1.4 million Muslim pilgrims are expected to arrive in the kingdom this year.

September 30, 2014

 Global supply of crude oil and liquid fuel reached all-time highs of 92.6 million barrels per day in August. Stable oil producers.
11:46 GMT

A key differential factor in this period in that ‎volatile producers in Africa and the Middle East experienced a spike in production.

September 29, 2014

The key driver of Mohamed Yousuf Naghi Motors’ solid performance in the first half of the year was the recently launched Rolls-Royce Wraith.
17:33 GMT

Mohammed Yousuf Naghi Motors confirmed a 51 percent surge in sales over the same six-month period in 2013

What is really alarming is the fact that currently 63 percent of Saudi students are enrolled in majors unsuitable for the needs of the labor market.
04:55 GMT

Only nine percent of high school graduates have taken up technical and vocational programs in the Kingdom compared with 41 percent in OECD member countries and 37 percent in Turkey

September 28, 2014

As per the deal, these companies will manufacture, supply and implement a feeder line project in the capital from the water tanks to three different locations within the city.
19:09 GMT

The Saudi government has awarded a contract worth more than SR1.4 billion ($373 million) to three local companies for a major water project in the capital Riyadh.

Hajj is one of the Five Pillars, the five core acts in Islam that serve as the foundation of Muslim life. All Muslims must perform the mandatory pilgrimage to Mecca at, so lo least one time, if they are physically and financially able to do so. A tall order, as the experience isn’t cheap.
12:38 GMT

Hajj 2014: Countdown to the Islamic Pilgrimage

September 25, 2014

Saudi Arabia sent Egypt $3 billion worth of refined oil products from April up to the first week of this month, an official from Egypt’s state oil company told Reuters on Thursday.
23:51 GMT

The petroleum aid has not, however, managed to noticeably ease Egypt’s energy frequent power cuts, even in upscale areas.

September 24, 2014

DAMAS, the Middle East's leading jewelry and watch retailer, has bolstered its presence in the region with the launch of its first luxury boutique in Riyadh, Saudi Arabia.
12:51 GMT

As part of Damas’s redefined global strategy, the brand has divided its retail stores into two formats - ‘Damas’ and ‘Damas Collections’.

Iran's Foreign Minister Mohammad Javad Zariff (left), met with his Saudi counterpart Prince Saud al-Faisal to discuss regional affairs with little outcome (File/AFP)
09:30 GMT

A meeting between foreign ministers from Saudi Arabia and Iran to tackle regional developments had no positive outcome, sources said.