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 […]
A number of cities in the kingdom of Saudi Arabia are pushing forward with plans to develop metro networks. The number of pilgrims visiting Saudi Arabia for hajj or umrah pilgrimages is set to boom in the coming years and will place unique pressures on the country’s transport infrastructure. More than 3 million pilgrims visited the kingdom […]
Commerce and Industry Minister Tawfiq Al-Rabiah has approved the establishment of a new East Asia Agricultural Development and Investment Company with a capital of SR 100 million. The new company is based in Riyadh as a closed joint stock entity and 70 percent of its capital has already been paid up by its founding members. […]
RIYADH – Custodian of the Two Holy Mosques King Abdullah has approved allocation of more than SR15 billion to establish 22 medical projects in various regions of the Kingdom. These projects include 19 medical complexes and hospitals with a total of 7,400 beds as well as three centers for child behavioral and growth disorders. […]
Energy consumption in Saudi Arabia is witnessing an unprecedented growth, prompting a wave of investments expected to reach $133 billion (SR502.5 billion) for various power generation and water projects in the next decade, organizers of an industry event in the capital said. Being the third largest water consuming country in the world with an average […]
JEDDAH – The nine ports in Saudi Arabia remain robust, recording a 9 percent growth in container traffic 2004 and 2011, increasing to 6 million twenty foot equivalent units (TEU) from 3 million TEU. Kuwait Financial Centre (Markaz) said recently in the executive summary of its infrastructure series covering power, airports, seaports, roads & railways, […]
The Ministry of Water and Electricity has decided to strictly enforce thermal insulation for all new buildings in the Western region beginning from the third quarter of 2013 as defaulters would not receive power. “Electricity connections will not be given to new buildings licensed after this date except after making sure they applied thermal insulation,” […]
Vast stretches of desert once tracked by camel trains will soon be spanned by one of the world’s most modern and sophisticated transport systems, with Saudi Arabia now developing a countrywide rail network that underpins the government’s programme to diversify the economy. Data compiled by the Dubai-based news agency Zawya in late 2012 showed there […]
Custodian of the Two Holy Mosques King Abdullah has urged Saudi Aramco to complete the first phase of infrastructure projects for Jazan Economic City in order to woo investment and boost the region’s development. Jazan Gov. Prince Muhammad bin Nasser thanked King Abdullah for his efforts to develop the region and strengthen its economic position […]
After the completion of a SR 35 million refurbishment project, the Mubarak Hospital, described as one of the most modern health care facilities in the capital city, has officially reopened its doors for patients, following the permission given by the Ministry of Health (MOH). This new state-of-the-art private hospital located in the city center of […]