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Saudi Arabia

Saudi government to spend $27bn on industry plan

The kingdom’s industrial development programme covers the mining, industry, logistics and energy sectors

Saudi expat workforce shrinks in Q3 as local unemployment rate drops

The number of expats working in the kingdom reduced from 10.18 million in Q1 to 9.5 million in Q3

Four Yemeni nationals executed in Saudi for killing Pakistani guard

The accused also allegedly stole from the company where the victim was serving as a guard

Several people rescued after being stranded by heavy rains in Saudi’s Tabuk

Severe weather conditions have been forecast across the kingdom

Saudi’s Misk Innovation launches accelerator programme with 500 Startups

The partnership will aim to boost entrepreneurship in the kingdom

Saudi Aramco to invest $1.6bn in South Korean refiner Hyundai Oilbank

Saudi Arabia is the top crude oil supplier to South Korea, the world’s fifth-biggest importer

Over 2.5 million illegal workers, residents arrested in Saudi crackdown

The latest update indicates that roughly 200,000 people have been arrested in the last three weeks

Mariah Carey to perform in Saudi this week

The American singer will perform at the King Abdullah Economic City, north of Jeddah

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Saudi’s SABIC posts 12.4% drop in Q4 net profit

The company cited lower average selling prices and a decrease in the share of results of associates

Russia holds off Saudi to remain top crude oil supplier to China in 2018

Russia’s lead over Saudi in supplying China almost doubled to 295,000 bpd in 2018 from 150,000 bpd a year earlier

Saudi seeks to attract SAR1.6 trillion with industrial development programme

The programme will cover project in industry, mining, energy, logistics, military, chemicals and small businesses industries

Saudi will support Lebanon “all the way” – finance minister

Lebanon has one of the world’s highest levels of public debt as a proportion of national output

Saudi Aramco seeks advisers for SABIC debt financing

The Saudi oil giant could borrow as much as $50bn from international investors to fund the acquisition

Saudi businessman Amr Dabbagh, two consultants released from detention

Princes, top officials and businessmen were detained in a corruption crackdown in November 2017

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Brazilian poultry firm BRF aims to restore Saudi exports in three months

One of BRF’s plants lost its certification to export to the kingdom

US officials say Saudi sisters found dead in New York river ‘committed suicide’

Rotana Farea, 23, and Tala Farea, 16 were found dead in October last year

Saudi billionaire Prince Alwaleed’s firm supports Uber-Careem merger

Kingdom Holding holds a stake in Dubai-based car hailing app Careem

Saudi aims to rank among world’s top 10 entertainment destinations

The kingdom plans to host auto races, magic shows and theatrical performances this year

Saudi Aramco eyes multi-billion-dollar US gas acquisitions – CEO

Aramco already owns Motiva, the biggest U.S. oil refinery

Saudi’s Red Sea project masterplan gets board approval, eyes 2030 completion

The approved master plan will see 22 islands developed offering over 10,000 hotel rooms

Saudi’s largest lender NCB posts 3.5% rise in Q4 profit

The bank, which is in merger talks with Riyad Bank, made a net profit of SAR2.65bn in Q4

Saudi sells over SAR7bn sukuk in monthly issue

The kingdom’s finance ministry issued SAR5.37bn ($1.43bn) in domestic sukuk

Saudi sacks head of civil aviation authority GACA

Abdulhakim bin Mohammed bin Suleiman Al-Tamimi was appointed to the post in June 2017

Saudi government says 99% of private sector contractors paid within 60 days

The kingdom’s finance ministry says it remains committed to making payments on time

Saudi Alhokair’s mall unit plans IPO launch in Q2

Arabian Centres Company has applied for an IPO with the Capital Market Authority

Saudi landlords go to court after several expats ‘shut shop’ and leave

The shops were leased by Saudi nationals and illegally run by expatriates on a profit sharing basis, according to reports

Over one million expected to visit Saudi’s first ‘global village’ in Jeddah

The festival will run for a month at Jeddah’s waterfront with pavilions from roughly 50 countries

Lower VAT threshold to increase taxpayer base by 150,000 in Saudi – KPMG

From January 1, 2019 those with revenues of between SAR375,000 and SAR1m will also be subject to the tax

Saudi police arrest expat who made $3.7m through ‘sorcery’ scam

The man reportedly duped people by telling them that he would double their money using sorcery

Cryptocurrency, SME platform among initiatives launched by Saudi-UAE alliance

The seven new measures cover integration in the fields of financial markets, tourism, aviation, entrepreneurship, customs and security