Saudi Arabia is implementing mega infrastructure projects, including roads, bridges and rail projects worth $77 billion (SR288.75 billion), local media said quoting a report. The projects currently implemented to develop roads and bridges in the GCC countries are estimated at $109 billion (SR408.75 billion), the report released by Ventures Middle East said. Saudi Arabia captured […]
DUBAI: According to EY’s most recent Rapid-Growth Markets (RGMs) Forecast, the GCC can expect to see robust economic growth over the medium term and successful diversification of its local economies. Qatar’s economy is expected to grow by six percent, the UAE by 3.9 percent and Saudi Arabia by 4.3 percent in the medium-term. Bassam Hage, […]
Saudi Arabia is implementing mega infrastructure projects, including roads, bridges and rail projects worth $77 billion (SR288.75 billion), local media said quoting a report. The projects currently implemented to develop roads and bridges in the GCC countries are estimated at $109 billion (SR408.75 billion), the report released by Ventures Middle East said. Saudi Arabia captured […]
The Kingdom spends SR220 billion a year to subsidize gasoline and diesel, a Shoura Council member said here recently. Fahad bin Juma’, deputy chairman of the committee for energy and economic affairs, said the country uses an estimated 2.8 million barrels of petrol and gas a day during the summer season to desalinate water and […]
Two international firms will conduct feasibility studies for the proposed multibillion-riyal railway project that would link the six-member countries of the Gulf Cooperation Council (GCC), it was revealed at a recent meeting here of the GCC transport ministers. Bahraini Minister of Transport Kamal bin Ahmad said the two companies would conduct technical, consultative and engineering […]
The first day of Eid Al Adha is expected be on Tuesday, October 15, in most Islamic countries, according to a statement on Sunday from the Islamic Crescents’ Observation Project (Icop). The statement says, “The sighting of the crescent should be possible in most regions of the world with naked eyes on Sunday October 6, […]
Saudi Arabia’s inclusion in the G20 reflects its growing stature as a leading global hydrocarbons producer as well as a heavyweight in the strategically important Middle East-North Africa economy. The dual underpinnings of the Kingdom’s stature are likely to remain in place for a long time. At the same time, rapid population growth and massive […]
DUBAI – Ongoing roads and bridges developments across the GCC are currently valued at $109 billion according to the most recent figures from business advisory and research firm, Ventures Middle East. The UAE, second worldwide for roads quality in the latest Travel and Tourism Competitiveness Report, has investments worth $58 billion in the pipeline for […]
JEDDAH – Saudi Arabia plans to invest more than SR300 billion in electric power sector by the end of 2020, with the aim of increasing production capacity, development of transport networks and stations, and all associated systems, Sawary Energy Vice President Sami Akeel said in a press statement Monday. Noting the great challenges faced by […]
Profits for the General Organization for Ports in the past fiscal year 1433/1434H exceeded SR4 billion, representing an increase of SR800 million from the previous fiscal year. Meanwhile, the container sector has witnessed an increase in the capacity of ports, from 5 million TEUs in 2008 to 12 million TEUs in 2012. A report of […]