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In its efforts to curb inflation, the Saudi Arabian monetary agency, Sama, has bought SR5.2bn of foreign currency in the second quarter of 2008 to absorb liquidity in the Saudi Riyal and ease inflation which …Read full article » Saudi Arabia: Tuesday, September 09 - 2008 @ 09:43
In March, Defence and Aviation Minister Crown Prince Sultan laid the foundation stone at King Abdulaziz Air Base in Eastern Province for a new centre to update and assemble systems for Saudi military aircraft.
The …Read full article » Saudi Arabia: Tuesday, September 02 - 2008 @ 11:27
A robust economic performance, oil revenue windfalls and strengthened government finances as well as the government’s commitment to diversification have been accompanied by the announcement of infrastructure projects valued in excess of $350bn.
However, the …Read full article » Saudi Arabia: Thursday, August 28 - 2008 @ 11:57
Saudi banks’ foreign investments abroad reached its lowest standard in March 2008 at SR2.6bn.
The money supply (N3) reached 21.3% by the end of June compared to 21.64% in May to hit SR860.69bn, from SR709.30bn a …Read full article » Saudi Arabia: Monday, August 11 - 2008 @ 15:28
Petrochemicals continued to be the country’s most important commodities exported during the month of May.
This was followed by plastics, plastic products, base-metals and re-exported commodities.
During the same month, the total value of Saudi imports also …Read full article » Saudi Arabia: Sunday, August 03 - 2008 @ 14:34
It will invest $90bn to expand and enhance its power network.
The Saudi Electricity & Cogeneration Regulatory Authority (ECRA) has already embarked upon a comprehensive plan to develop the industry to move to a competitive …Read full article » Saudi Arabia: Tuesday, July 29 - 2008 @ 13:21
But that should change, perhaps as soon as by the end of this year, with the introduction of a mortgage law, which is going through its final stages of approval.
That will see Saudis able …Read full article » Saudi Arabia: Tuesday, July 22 - 2008 @ 11:56
Airbus announced that a “firm order” had been announced for eight A330-300 twin-aisle aircraft.
The A330-300 can carry 300 passengers on distance up to 10,500 kilometres.
According to the airline’s director-general, Engineer Khalid al Molhem, …Read full article » Saudi Arabia: Sunday, July 20 - 2008 @ 12:18
By Medhat Shahidi
According to Water and Electricity Minister Abdullah Al Hussayen, the strategic plan for water treatment plants has been completed as part of a wider national water …Read full article » Saudi Arabia: Wednesday, July 16 - 2008 @ 12:32
And unlike the UAE, which is building as much (if not more) for the majority expat community living and working in the country, Saudi Arabia is interested mainly in one target group – Saudis.
Riyadh …Read full article » Saudi Arabia: Monday, July 14 - 2008 @ 10:35