The joint venture, operated by France’s Total and Saudi Aramco, began a gradual startup of operations last year.
Prince Muqrin bin Abdulaziz, a former intelligence chief in the Kingdom, has been appointed deputy crown prince.
Could a lack of investment in long-term care facilities create a chronic problem for GCC nations focused on large-scale hospital projects?
Washington’s preliminary nuclear deal with Iran last year caused tensions between the US and Saudi.
Labour shortage has led to a surge in wages, making it unsustainable for small and medium firms to survive in the market.
Saudi Arabia’s Hanco and Bahrain’s Venture Capital Bank bought Byrne for around Dhs600 million.
Reports claimed that a Saudi religious body issued a fatwa banning the popular cartoon series.
The new Saudi Arabian Company for Industrial Investment will have capital of SAR2 billion.
The country imported 10.65 million tonnes of barley in 2013.
The hotel chain is focussing on Saudi Arabia and the UAE with four hotels apiece.
The Saudi index, which includes several large petrochemical companies, eased throughout last week as oil prices retreated.
The Kingdom’s tourism sector provided around 751,000 new jobs in 2013, including around 27 per cent of them for Saudis.
The sukuk will enhance the bank’s Tier 2 – or supplementary – capital.
The offering is likely to take place before the end of the year or in the early part of 2015, sources say.
The 13 sentenced to between three and 14 years in prison were nine Saudi citizens, two Jordanians, an Egyptian and a Syrian.
Microsoft announced that its new gaming console will be made available in 26 additional countries.
Saudi, the UAE and Bahrain recalled their ambassadors from Qatar on March 5, citing policy differences.
The acquisition of General Lighting Company will create a new joint venture, Philips Lighting Saudi Arabia.
Saudi Arabia’s food inflation rate in February was the lowest since November 2012.
Saudi Arabia’s central bank reserves, the vast majority of which are believed to be in U.S. dollars, grew to a record $718 billion in January.
Virgin Mobile Middle East and Africa was one of the winning bidders for three mobile virtual network operator (MVNO) licences in the kingdom.
Saudi Arabia, which pegs its riyal currency to the U.S. dollar, has kept its repo rate at 2.0 per cent since January 2009.
Saudi Arabia’s central bank governor said that he expected the private sector to drive growth in the Kingdom.
Last month, Yemen said it had handed Saudi Arabia 29 of its nationals wanted as al Qaeda militants.
Despite the brotherhood’s taste for populist electoral politics, no other GCC member, apart from Saudi Arabia, has declared it a terrorist organisation.
Eligible citizens who submit requests through the new programme, ESKAN, are expected to be allocated homes within seven months.
The arrests are the first reported cases of Egypt’s Gulf allies detaining members of the Islamist group on its behalf.
The Shoura Council has also asked the Kingdom’s anti-corruption agency to provide a report on the graft situation in the country.
The move follows the withdrawal of the Saudi, UAE and Bahraini ambassadors from Doha last week over foreign policy disagreements.
Saudi Arabia aims to develop shale gas for power generation in order to save more of its crude oil for export.