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Soaring Assets, Record Spending
Saudi assets up SR49 billi0n in March
Strong oil prices along with high production boosted Saudi Arabia’s foreign assets by 49SR12 billion in March although the world’s dominant crude exporter has projected record spending for this year, according to of ...
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Growing Saudi Electricity Demand
SR 300 bn needed for power generation
The Kingdom will need SR 300 billion in investments to expand the country’s electricity generation to meet the country’s growing demand, thereby necessitating the Saudi Electricity Company (SEC) to produce 30,000 MW ...
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High Speed Rail in Saudi Arabia
Work on Haramain rail project in full swing
More than 27 percent of the Haramain rail station in Jeddah and 13 percent in Makkah have been completed and the project will be completed on time, according to Muhammad Al-Suwaiket, head of the Saudi Railways Organ ...
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32 Contracts Worth SR 824 million
Saudi Arabia Approves $220 Million of Water, Sewage Works
Water and Electricity Minister Abdullah Al-Hussayen has signed 32 contracts worth SR 824 million for water and sanitation projects in different part of the country. The projects cover water supply, sewage water, dig ...
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Saudi Oil
Exports jump to 7.45m bpd in Feb, Brent Climbs
Saudi crude exports rose to over 7.45 million barrels per day (bpd) in February, a rise of 363,000 from January, official figures from the Joint Oil Data Initiative (JODI) showed. The world’s largest oil exporter sh ...
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Consulting in the GCC
GCC to spend $2bn this year on consultants
The GCC’s consulting market is set to be worth more than $2bn by the end of 2013, according to a new report. The analysis, by Source Informantion Services (Source), shows that the market grew by 18% last year and is ...
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Housing and Real Estate
Real estate experts expect the housing bubble to burst soon
The royal order related to land grants and construction loans will lead to a reduction in the Kingdom’s current exorbitant rents and property prices, a spokesman for the Ministry of Housing was quoted as saying in l ...
SAGIA draws Switzerland to invest in water
The Saudi Arabian General Investment Authority (SAGIA) hosted a workshop on Sunday, inviting investors from Switzerland, under the banner of sustainable water management. The event was attended by the National…
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Rabigh port to operate by the end of this year
Abdullatif Al-Othman, governor and chairman of the Board of Directors of the Saudi Arabian General Investment Authority (SAGIA), has announced that King Abdullah Economic City’s port in Rabiagh will commence…
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Saudi assets up SR49 billi0n in March
Strong oil prices along with high production boosted Saudi Arabia’s foreign assets by 49SR12 billion in March although the world’s dominant crude exporter has projected record spending for this year,…
Read more...Latest Updates
The Saudi Electricity Company (SEC) has awarded ABB Ltd. (ABB), a leading power and automation technology company, a $120 million (SR450 million) contract to supply transformers in order to enhance…
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Kenana, Sudan’s biggest sugar producer, plans to raise around $ 200 million in an initial public offering in Johannesburg next year, its managing director said. Mohamed El-Mardi El-Tegani said Kenana…
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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…
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The total value of shares traded in the Saudi stock market reached SR 144.26 billion last month, increasing by 18.2 percent from April, according to a Tadawul report. It said…
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The Kingdom will need SR 300 billion in investments to expand the country’s electricity generation to meet the country’s growing demand, thereby necessitating the Saudi Electricity Company (SEC) to produce…
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Etihad Etisalat (Mobily) has signed a strategic agreement with Al-Hayat Real Estate Investments Company in which Mobily becomes the main provider of advanced communications services to Al- Nakhlah Residential City….
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The National Water Company agreed to an SR 2.2 billion supply deal with Jeddah Economic Co. Waled Abdul Jalil Batterjee, CEO of the Jeddah-based developer, and Loay Al-Musallam, CEO of…
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Maaden Phosphate Company (MPC) has shut its Diammonium phosphate plant (DAP) at Ras Al Khair in Saudi Arabia after being unable to restart the ammonia plant that feeds it, the…
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Property developers and investors need more solid information on available opportunities in the Kingdom and ways and means of securing them, a major real estate show in Riyadh was told…
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Saudi Kayan Petrochemical Co (Saudi Kayan) has brought its ethylene oxide/ethylene glycol plant back into operation after scheduled maintenance and will soon restart other shuttered plants, it said on Saturday….
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More than 27 percent of the Haramain rail station in Jeddah and 13 percent in Makkah have been completed and the project will be completed on time, according to Muhammad…
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In line with the directives of Custodian of the Two Holy Mosques King Abdullah to provide plots of land and loans for homes to citizens, the Ministry of Housing signed…
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A second industrial park will be connected to an existing project in Dammam. A SR 31 million contract has been signed with a Saudi company by Tawfiq Al-Rabiah, minister of…
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Water and Electricity Minister Abdullah Al-Hussayen has signed 32 contracts worth SR 824 million for water and sanitation projects in different part of the country. The projects cover water supply,…
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Brent crude rebounded above $100 per barrel on Wednesday as a steep drop over the past five sessions attracted bargain hunters, while hopes the US Federal Reserve will maintain its…
Read more...Saudi crude exports rose to over 7.45 million barrels per day (bpd) in February, a rise of 363,000 from January, official figures from the Joint Oil Data Initiative (JODI) showed….
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