Saudi Arabia will push ahead this year with exploratory drilling of shale and other unconventional gas reserves which could be twice the size of its conventional gas reserves, which total 286 trillion cubic feet, Saudi Minister of Petroleum and Mineral Resources Ali Al-Naimi said Monday during a Credit Suisse conference here. The Kingdom intends to […]
In opening remarks at the first session of the Jeddah Economic Forum (JEF), Abdullah Sadiq Dahlan, member of the JEF’s organizing committee and chairman of the board of trustees at the University of Business and Technology, warned of an imminent threat of a housing crisis exploding in the Kingdom over the coming years in the […]
Maaden hopes its $6bn phosphates city at Waad al-Shamal will emulate the success of Ras al-Khair As Saudi Arabian Mining Company (Maaden) prepares to tender four more packages for its proposed $6bn phosphates city at Waad al-Shamal, its reputation as a company that fast-tracks world-scale projects grows stronger. Maaden hopes the city in the north of […]
DOHA: Qatar’s high government capital spending on huge multi-year projects will continue to stimulate the country’s non-hydrocarbon sector, said the ratings agency Fitch in its latest “GCC Sovereign Credit Review”. With a projected 7.6 percent, Qatar has been forecast to have the highest growth rate in the real non-oil growth in the region. Qatar is […]
RIYADH – Consumer confidence in the Kingdom of Saudi Arabia is steadily rising, the latest MasterCard Index of Consumer Confidence revealed Wednesday, with a score of 95.2 as compared to 90.9 in the previous edition of the Index released six months ago. Consumers in Saudi Arabia are ‘extremely optimistic’ in their overall consumer confidence score, […]
Maaden has concluded a contract with Azmeel Contracting & Construction Company for the engineering, procurement and construction of a new housing project for Maaden employees. The SR 1 billion contract is for the first phase of the Mutrafiah Housing Project at Jubail Industrial City, which includes the construction of 800 villas, the first of which […]
KUWAIT: Kuwait faces the risk of being unable to meet its energy requirements during the summer of 2014 and 2015 if a planned mega power plant project was to be delayed, a senior Ministry of Electricity and Water official said in a recent press statement. Undersecretary Assistant for Planning and Training Dr. Meshan Al-Otaibi indicated […]
The ICT (information and communication technology) is all set for a very positive growth, both in Saudi Arabia and elsewhere in the Middle East & North Africa (MENA) region. “We see a very positive growth, thanks to new technologies,” Audai Altaie, regional head of enterprise business, Enterprise Business Group, MENA HQ of Samsung Electronics, told […]
RIYADH – Prince Khaled Bin Bandar, Emir of Riyadh region, has said that studies and preparations for introducing public transport system for the capital city are in full swing. “The system, which consists of networks of trains and buses, will ease traffic flow and put an end to congestion,” he said. The Emir was speaking […]
Qatar has lined up a total of 21 new hotels for the next five years as part of adding up 45,000 additional hotel rooms to its existing capacity. This would be Qatar’s major efforts to meet FIFA’s projected capacity requirement of 60,000 rooms. Of the list of planned hotels scheduled to open by 2017, 11 […]