The original contract had to be renegotiated after Saudi requested more advanced weaponry and equipment for the Typhoon fleet.
The new entity, called Emaar Jameel, will focus on developing integrated real estate projects in the Kingdom.
Power production at Ras Al Khair was expected to start in late 2012 but was delayed by construction issues.
The Kingdom will also provide Pakistan a credit facility of $125 million for the import of urea.
The latest casualty to succumb to MERS virus in Saudi Arabia was a 22-year old man, according to health authorities.
The firm will list 30 per cent of its shares on the Kingdom’s stock exchange.
Saudi Arabia’s Kingdom Tower, which is 173 metres taller than Dubai’s Burj Khalifa, is slated for completion in 2018.
Somayya Jabarti has been appointed editor in chief of the English daily Saudi Gazette.
Waad al-Shimal, a joint venture between Maaden, SABIC and US phosphate and potash producer Mosaic, is a massive new project coming up in the far north of Saudi.
Aziza Al Yousef, the female driving ban opponent, makes the top five most powerful Saudi Arabs.
The Yemeni defence ministry website quoted sources as saying the militants had Saudi nationality.
A stake in the maintenance subsidiary is expected to be sold to the public before June 2015.
Aramco has re-tendered three of the four construction packages.
Amena Bawazir, a student at the King Saud University in Riyadh, died of heart problems last week.
All 15 were Egyptians and the blaze was started by an electrical short circuit, said reports.
Changes in Saudi’s mortgage law in 2013 are expected to boost banks in the GCC’s largest domestic market.
The report estimated Saudi Arabia was spending $59.6 billion, a rise of 8.6 per cent.
The brokerage is seeing increased interest in the three markets among Qatari investors.
The $450 million Islamic bond is due to mature in February 2015.
One-time short-haul carrier is embarking on international expansion
Saudi Arabia’s intelligence chief has said the kingdom is looking at a “major shift” in relations with the United States.
The degree underscored concern about Saudis hardened by battle in Syria coming home to target the ruling royal family.
Saudi Arabia’s advisory body will rethink its decision about reducing working hours in the private sector following an appeal by some of its members.
SEC said at the beginning of January that it had chosen banks to arrange the riyal-denominated transaction.
While flights to both cities are being axed, Bahrain is to be expanded and double-daily Dubai is unaffected
Obama will hold a summit with Saudi King Abdullah to ease tensions between the two countries, according to a report.
GCC states have given Egypt billions of dollars since the army toppled President Mohamed Mursi.
Shoura Council members said that the Nitaqat system has been ineffective in creating jobs for Saudis.
The telecom operator is expected to start the service via its partner, London’s Lebara Group.
King Abdullah Economic City is a special economic zone up Saudi Arabia’s Red Sea coast from Jeddah.