The Gulf Monetary Council has dismissed media reports of four GCC countries launching a common currency.
The Kremlin said Putin and Prince Bandar discussed plans for a long-delayed international peace conference on Syria.
Currently, more than one million Saudis work in the private sector.
Upset with the US, senior Saudis are considering strategic relations with other world powers.
Iran’s foreign minister said that the nuclear deal reached in Geneva on Nov. 24 should not be seen as a threat.
Shadi Sadeek Sanbar has worked with the firm for over eight years and is seen as a close aide of the Saudi billionaire.
The project will deliver 2060 megawatts of electricity to SEC under a 20-year agreement
In Kuwait the authorities have resumed the monitoring of sermons.
Property ownership remains a distant dream for many Saudi nationals, writes Syed Hussain.
The index climbed 1.6 per cent to finish at 2,946 points, its highest close since October 2008.
Iran signed an interim deal with six world powers to curb its nuclear programme.
In August 2012 Aramco suffered an attack on 30,000 computers.
The entertainment and hospitality firm could be valued at about $680-$690 million, sources said.
Another 19 people were convicted on Monday of plotting to hijack a Western airliner.
Staybridge Suites Al Andalus Mall will target shop-loving Saudis
The deal will cover maintenance work on 12 gas units at new power plants in Riyadh.
The GCC’s oil and gas producers need to have innovative strategic plans as competition intensifies.
Nearly a million foreigners have left Saudi Arabia since March, when authorities began a crackdown on illegal workers.
The mortar shells fell in an uninhabited area and caused no damage, Saudi officials have confirmed.
Saudi is evaluating options for its naval modernisation programme, including purchases of up to 12 of Lockheed’s steel monohull Littoral Combat Ship
Saudi’s deputy foreign minister said that protectionist policies in the petrochemicals sector can drastically impact the global economy.
With a population of 28.3 million, Saudi Arabia is now the biggest user of YouTube per capita in the world.
The North American shale oil surge has helped arrest the rise in crude prices over the last year.
Middle East accounts for the majority of thought leadership produced globally on emerging markets.
Under the new rules, trading in companies with losses of more than 75 per cent will be suspended for one day.
Airline CEO Akbar Al Baker said the Saudi domestic services carrier will be called Al Maha Airways.
The volume of oil burned for power production in the Kingdom fell to 689,750 bpd from June to September 2013, from 763,250 bpd during the same period in 2012.
Clashes in the Manfouha district of southern Riyadh left 17 others injured.
The cash will be used to fund the Umm Wual development at Waad Al-Shimal City
Saudi carrier to roll out new premium product as it seeks a fresh start in 2014.