Monthly Archives: May 2013

Private university on Makkah-Jeddah highway

The Municipality of the Holy Places is proposing to build a 2-million-square-meter educational project by establishing a private university on the Makkah-Jeddah highway. The university will be built over a space of 2 million square meters with a cost of more than SR 20 million. The university comes within the major investment projects of the […]

Total assets of ‘Top 100’ Saudi firms rise 35% to SR 3.1 trillion

Total assets of ‘Top 100’ Saudi companies rose by 35 percent from SR 2.29 trillion in 2009 to SR 3.1 trillion in 2013, Al-Eqtisadiah business daily reported yesterday in its annual supplement on Top 100 Saudi companies. The report showed the turnover of companies rising by 40 percent from SR 484 billion in 2009 to […]

National Water Company to invest SR50bn in new projects

The power and water sectors are experiencing a massive boom in Saudi Arabia, according to Abdulrahman Almutari, head of privatization at the National Water Company . He stated that over SR 50 billion will be invested in water and wastewater projects from 2013-2017. Speaking at the 1stday of the 9th Water, Electricity and Power Generation Conference […]

Bavaria’s 0% drink now in Saudi Arabia

JEDDAH — Dutch brand Bavaria’s 0.00% non-alcoholic malt drink is now available in the Kingdom, with the brand formally launching the drink at a function held at Park Hyatt Hotel recently. The brand has also launched a communication campaign specific to the country, and has begun distributing the drink in local grocery stores. Peer Swinkles, […]

EP Emir to launch major healthcare projects today

RIYADH — Emir of Eastern Province Prince Saud Bin Naif will inaugurate a host of health projects worth SR1 billion in  Hafr Al-Batin and the surrounding regions on Thursday. Minister of Health Dr. Abdullah Al-Rabeeah will join the Emir in the opening ceremony in the city close to the Kuwaiti border. Director of Health Affairs in […]

Real GDP to grow by 4.4% in 2013

Saudi Arabia’s real GDP is estimated to have expanded 6.8 percent in 2012, according to Global Investment House’s review of the Saudi economy. Following the record oil production seen in 2012, the government has resorted to strong fiscal stimulus measures and greater investment in infrastructure projects. However, GDP growth is expected to lower to 4.4 […]

10 mega projects to adorn Dubai

Dubai: In a major drive to further improve the infrastructure of the city, Dubai Municipality has launched 10 major projects to be completed at various dates in the next couple of years. The projects, at a cost of Dh883.5 million, include the Dubai Safari, traditional souqs, a new fish market, birds and animal market as […]

Saudi has world’s third largest financial reserves

Saudi Arabia had the world’s third largest financial reserves after China and Japan at the end of 2012 following a sharp rise in the Gulf kingdom’s assets in 2012 because of higher oil prices and output, according Saudi newspaper.   The country’s cash and gold reserves, controlled by the Saudi Arabian Monetary Agency ( Sama ), central bank, surged […]