DSI had reported worsening earnings in eight of the preceding nine quarters
The contractor made a net loss of Dhs186.4m in the second quarter
The troubled firm has been the subject of thousands of complaints by workers
Oger has been hit hard by a slowdown in the Saudi construction sector
Facing a severe cash squeeze, it has been forced to halt work at a string of projects and lay off thousands of staff
Drake and Scull will construct a water injection network project at the Zubair oil field
The company has been hit by government spending cuts and its suspension from receiving new state contracts
The new rule will be applicable from 2017 on companies with a 500 plus workforce
The loan comes after the firm posted a $12.63m net loss for the first three months of the year
Police forces attended the scene but no arrests were made
MMG’s board quit last week when the CMA sentenced three of its executives to jail
Major construction on the site is expected to be complete by October 2019
Khodari has been pressured by a severe slowdown in the construction sector
Last week, Saudi’s stock market regulator fined MMG SAR 1.6bn and sentenced three people to jail
The contract is for work on a sewage treatment plant at the Deira Islands development
Ports developer wins 50-year concession for multi-purpose project
The stadium is the fifth to be launched by Qatar so far
Workers reportedly protested outside Saudi Binladin’s offices again this week following non-payment of their dues
The contract covers phases four and five of the project, set for completion by end-September
Called the ‘Office of the Future’, the building is located in the Emirates Towers premises
ACC has won the deal to build the three-tower Emaar Residences project, which includes 283 units
The amount will reportedly be used to cover redundancy costs for workers it is laying off, back salaries and severance costs
Emaar said it was exploring potential partnership opportunities with the company on its mega developments
In April, its chairman said Arabtec could break even this year and should return to profit in 2017
DSI has reported worsening earnings in seven of the preceding eight quarters
Earlier this month, workers at the company set fire to buses after more than 50,000 were laid off
On Monday, al-Watan newspaper reported that Binladin had laid off about 77,000 foreign workers
Between 12,000 and 17,000 Saudi employees are expected to be laid off
Binladin Group employees also say they have not been paid for six months
The company employs 200,000 people, according to its LinkedIn page