Economy
Saudi stock market remains ‘positive’ in H2
The outlook for GCC stock markets in the second half of 2012 remains bullish "due to comeback of market liquidity and robust government sector growth," Kuwait Financial Centre (Markaz) said recently in its semi-annual review titled "What to expect in 2012".
Tuesday, 24 - July 2012
Gulf Marine Services Saudi Arabia (GMSSA), a leading provider of floating or self-elevating offshore platforms for oil companies, said it has won a three-year contract to support rig-less well intervention for a major offshore project in Saudi Arabia.
Tuesday, 24 - July 2012
Saudi banks are lending the most in at least five years as the government’s plan to invest $500 billion in new housing, infrastructure and industry boosts confidence in the Kingdom’s economy.
Tuesday, 24 - July 2012
The Saudi insurance market is projected to grow by 15 percent per annum in total volume of gross premiums written (GPW) across the sector, driven primarily by demand from the Kingdom’s young population, especially for motor and medical insurance, Standard & Poor’s Rating Services said in its recent report titled "Cooperative & Takaful Insurance in Saudi Arabia in 2012".
Tuesday, 24 - July 2012
Qatar Holding LLC, the investment arm of the Middle East country’s sovereign-wealth fund, raised its stake in Xstrata (XTA) Plc as it seeks a higher offer for the largest thermal-coal exporter from Glencore International Plc.
Tuesday, 24 - July 2012
The UAE has no immediate need to issue bonds to cover a small budget deficit this year as it can plug the shortfall from its own resources, the Gulf country’s finance minister was quoted as saying Monday.
Tuesday, 24 - July 2012
Qatar Petroleum (QP) has joined the global oil and gas technology facilitator ITF to collaborate on finding new solutions to boost oil and gas production in the Middle East.
Tuesday, 24 - July 2012
Pharmaceutical sales in the six Gulf Cooperation Council (GCC) member states - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE) - are set to grow by an average of 7 percent a year to 2020, reaching a value of $10.8 billion from $5.6 billion in 2010, Frost & Sullivan said Monday in a new research.
Tuesday, 24 - July 2012
State-controlled CNOOC Ltd launched one of China’s richest takeover bids yet Monday by agreeing to buy Canadian oil producer Nexen Inc. for $15.1 billion, forcing Ottawa to decide whether national security concerns outweigh its desire for foreign investment in its energy resources.
Tuesday, 24 - July 2012
Kingdom Holding Company (KHC), chaired by Prince Alwaleed Bin Talal, announced that the Four Seasons Hotel Riyadh was awarded "Best Five Star Hotel" in Saudi Arabia during the Saudi Excellence in Tourism Awards 2012.
Tuesday, 24 - July 2012
Emirates NBD, the UAE’s largest bank by assets, posted a 40 percent drop in its first-half net profits for the year 2012.
Tuesday, 24 - July 2012
Saudi Telecom Company (STC) has recently organized a three-day regular international conference for the submarine project (IMEWE).
Tuesday, 24 - July 2012
Arab National Bank has launched a new marketing campaign packed with a unique offering for holders of Al Arabi Visa and MasterCard credit cards enabling customers to get 10 percent cash back on the value of their purchases in stores and restaurant throughout Saudi Arabia and globally.
