The value of Saudi Arabia exports of nonoil commodities for the first quarter (Q1) of the current year 2013, reached SR 46.84 billion, compared to SR 47.84 billion, or a decrease of 2.1 percent, according to the Central Department of Statistics and Information (CDSI). The CDSI report stated that petrochemicals topped the list of Saudi […]
Saudi Arabia on Sunday said it was switching its official weekend to Friday and Saturday, bringing the kingdom’s working week in line with other members of the six-nation Gulf Cooperation Council. Saudi Arabia, the biggest Arab economy, had been the only Gulf Arab state to have a Thursday-Friday weekend after Oman shifted to a Friday-Saturday […]
Saudi banking experts here say that the Kingdom has the safest banking system in the Arab world. This comes in response to CNBC Arabia reporting earlier this week that the Kingdom recorded 5,000 fraud cases out of 1.3 million ATM cash withdrawals recently. The experts say that the security of the Saudi banking system and […]
Saudi Ports Authority (SPA) and King Abdul Aziz Port plan to invest SR3.43bn ($914m) in port development to meet the growing demand on the kingdom’s major seaports, Arab News has reported. Among the proposed developments is a new container terminal at a cost of SR172.5m ($46m) to be built in Dheba Port, with two others […]
JEDDAH – The GCC (Gulf Cooperation Council) countries will continue to invest heavily in infrastructure and diversify their economies, thus boosting non-oil GDP growth, QNB said in a report. The study also noted that MENA (Middle East and North Africa) region is expected to grow between 3.5 percent and 4 percent this year and 4.5 […]
An expert here believes that the Kingdom is likely to spend all its oil on electricity in the country by 2031 if current consumption continues, and has called for an urgent program to harness solar energy. “There must be real work done to benefit from this alternative energy in the Kingdom in light of climat […]
JEDDAH – Governor Prince Mishal Bin Majed claimed that Jeddah will become one of the finest cities in the world in terms of performance and efficiency. “One day will come when all the citizens will get municipal services online without approaching the mayoralty in person. All officials are directly responsible with regard to serving the citizens […]
Emaar Properties has unveiled its newest residential development in the city. The Hills, envisaged as part of Emirates Living, the pioneering master-planned communities by Emaar, will stand out for its spectacular Golf-course views and a focus on a greener lifestyle through several energy and water efficiency initiatives. Overlooking the Emirates Golf Club, with easy access […]
Qatar has the world’s highest density of millionaires, with 143 out of every 1,000 households holding private wealth of at least $1mn, much higher than the global average, according to a report. Qatar also ranks fourth in the world by ultra-high-net-worth (UHNW) households, defined as households with more than $100mn in private wealth, with eight […]
JEDDAH – Investment in environmentally friendly building projects in Saudi Arabia is set is to reach SR100 billion (over $26 billion) across 76 projects, Faisal Al-Fadl, Secretary General of the Saudi Green Building Forum, told a Saudi Arabic newspaper. “Out of 76 projects, 43 are based in Riyadh,” he said. Green building is the practice […]