Economy

AHSA, 25 August 2005 — Ahsa Province is in the process of establishing 19 new factories, with an investment cost of SR195 million, for producing different industrial products.

TAIF, 25 August 2005 — Ministry of Commerce and Industry has sent a proposal to Custodian of the Two Holy Mosques King Abdullah requesting clearance for establishing the first industrial city in Ta

MANAMA, 25 August 2005 — Bahrain-based Taib Bank posted a net income of $9.4 million in the first six months of 2005, up 22 percent from the same period last year.

An interesting cat-and-mouse game is on! Washington is using all its might to thwart Iran’s effort to optimise returns from its considerable energy resources.

RIYADH, 25 August 2005 — Saudi and Gulf investment groups are to hold talks with top level contacts with the companies short listed for the block sale of 51 percent of Tupras shares, the state owne

LONDON, 25 August 2005 — Anglo-Australian miner BHP Billiton yesterday posted annual net profits of $6.5 billion, the highest result in Australian corporate history, attributable to soaring Asian d

VIENNA, Austria, 24 August 2005 — Oil futures held above $65 a barrel yesterday amid lingering global supply concerns.

JEDDAH, 24 August 2005 — The 1,124.29 points plunge in the Industrial sector index sent Saudi stock market down 155.79 points yesterday as the Tadawul All Share Index (TASI) closed at 14,587.91 poi

JEDDAH — Kanoo Travel has become the new general sales agent (GSA) for Singapore Airlines (SIA) in the Western Province.

ABUJA, 24 August 2005 — Oil-rich Nigeria will this week put 78 oil blocs on offer to interested local and foreign investors, Oil Minister Edmund Daukoru said yesterday.