Despite oil prices falling below $100 a barrel, Saudi Arabia will not cut supplies anytime soon, say experts.
Gulf Business rounds up the top IPOs issued in the region in terms of capital raised, as revealed by Ernst and Young.
The Kingdom has warned its citizens not to travel to Yemen due to increasing insecurity in the country.
The five-year plan will fund the expansion of the Saudi Arabian dairy company and boost its product innovation.
Freeing up spectrum for Saudi’s telecoms operators may add $95.5 billion to the economy by 2025, said GSMA.
Saudi Arabian Airlines has got approval to list 30 per cent of its catering unit on the Kingdom’s stock exchange.
Prince Alwaleed’s Kingdom Holding Company will retain its stake in the Fairmont San Francisco Hotel.
The country is ranked 19th in the World Economic Forum’s Global Enabling Trade Report this year.
The Kingdom’s defence ministry will be buying military aircraft from UK defence company BAE.
The OECD has warned that a worsening of the crisis could have “serious consequences” for the global economy.
Saudi Arabia’s spending is on track as the Kingdom has seen limited impact from the Eurozone fallout.
Journalists in the Kingdom have to be accredited by the Saudi Journalists Association, the Cabinet has said.
Saudi bourse and oil drops to a three month low as fears of the Eurozone crisis affect the Gulf.
Saudi Aramco’s new refinery in Jizan will have a capacity of 400,000 barrels per day when ready.
The Kingdom’s Tadawul index has dropped on global economic fears and political instability in the Eurozone.
A fall below that level will lead to a cut in Saudi’s oil output and force high-cost oil projects to shut down.
Islamic Development Bank plans to issue the Islamic bond in June this year, its chairman has said.
The Gulf States, which met in Riyadh on Monday, have postponed talks of a possible integration.
Saudi’s GACA says new international airline licences will be operational by April next year.
The Kingdom’s oil minister Ali al-Naimi said that an oil price of $100 per barrel would be “great.”
Prince Alwaleed’s upcoming news channel, Al Arab will also be headquartered in Manama.
The Saudi billionaire is looking for returns of 20 to 25 per cent from the investments, he told a German paper.
Saudi also has 80 million oil barrels in storage for sudden need, the Kingdom’s oil minister Ali al-Naimi said.
Hotels in the Saudi Arabian city saw average occupancy rates of 81 per cent during the month.
The Gulf states have assured South Korea that they will make-up for any shortfall of oil supply from Iran.
Cosmetics and perfume shops in the Kingdom will only be allowed to employ women staff from June 30.
UK defence firm BAE is close to signing a deal to sell up to 30 Hawk aircraft to Saudi Arabia, according to reports.
The capital raised in Q1 2012 was almost four times higher than Q1 2011, but 63 per cent lower than Q4 2011.
Compared to the rest of the world, GCC nationals on average spend 260 per cent more on airfares.
Saudi Arabia expects the project to be completed in 2015, the General Authority for Civil Aviation has said.