Economy
MENA growth ‘stronger’ in 2012: IMF
Growth in the Middle East and North Africa (MENA) will be stronger, as key oil exporters continue to boost oil production and drive up domestic demand, while activity in Libya rebounds after the 2011 unrest
Tuesday, 17 - July 2012
Saudi economy is expected to expand at a median rate of 5.2 percent this year, instead of the 4.5 percent forecast in the March poll, a Reuters poll of analysts showed.
Tuesday, 17 - July 2012
GCC developers’ bond sales are on the rise, benefiting from investors’ confidence that Dubai will refinance financial obligations of its related entities, and as a refuge for assets amid Europe’s financial crisis.
Tuesday, 17 - July 2012
The Elaf Group of Companies has announced the re-opening of its "Elaf Kinda Hotel," a 240 rooms and suites property, after the completion of a SR58 million renovation project.
Tuesday, 17 - July 2012
ABB, the leading power and automation technology group, will invest around $40 million, to construct a new manufacturing plant for high-voltage gas-insulated switchgear (GIS) and a transformer service workshop in Saudi Arabia, to serve the growing power infrastructure needs in the region.
Tuesday, 17 - July 2012
Saudi Arabia retained its status as the most competitive Arab cellular market with a 74.56 percent mark, the 2012 Cellular Competition Intensity Index revealed Monday.
Tuesday, 17 - July 2012
Bank lending in Saudi Arabia is continuing at a generally brisk pace, the National Commercial Bank said in its “GCC Financial Market Quarterly” released Monday.
Tuesday, 17 - July 2012
The state company behind the United Arab Emirates’ first nuclear power plant said Monday it has received a green light for the project from an environmental regulator in the country.
Tuesday, 17 - July 2012
Alstom Thermal Power, Alstom’s division in charge of thermal power generation equipment and services, has recently signed a contract worth over €100 million with Arabian Bemco Contracting Co. and GS E&C to provide the steam tail for the Riyadh PP12 gas-fired power plant being constructed by them for the Saudi Electric Company (SEC).
Tuesday, 17 - July 2012
The number of Twitter users in Saudi Arabia increased by 3,000 percent in June, making the Kingdom the biggest growth market for the social network, the site’s CEO Dick Costolo said in an interview with the Los Angeles Times.
Tuesday, 17 - July 2012
In the wake of increasing scam and fraudulent activities, Saudi Telecom Company (STC) reminds its customers to beware of unsolicited suspicious calls.
