Saudi Arabia will require more than four million foreign workers during the next 10 years to carry out gigantic industrial and infrastructure projects including the Riyadh-Jeddah railway and build economic cities, a prominent Alkhobar-based Indian businessman said. “Saudi Arabia is a virgin market with many business and investment opportunities. Many giant projects are under construction […]
King Abdullah City for Atomic and Renewable Energy (KACARE) recently embarked on the establishment of 70 stations and centers aimed to determine renewable energy sources in all parts of the Kingdom, local media said. The centers will assess all renewable sources, including solar, wind, waste-conversion, and geothermal energies and collect ground readings from different parts […]
Residential performs best among Saudi Arabia real estate sectors, while the Kingdom’s retail and hotel developments also show strength, according to a new report by Jones Lang LaSelle (JLL). The real estate investment and advisory firm last week released its Q1, 2013 Market Overviews of the Riyadh and Jeddah real estate market report, which examines […]
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 […]