Economy

IDB increases its capital from $ 45 bn to $ 150 bn
The Islamic Development Bank Group has decided to increase its authorized capital from $ 45 billion (30 billion Islamic dinars) to $ 150 billion (100 billion dinars) on the recommendation of the two...
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Saudi firm to delay Sudan farm project

Tuesday 21 May 2013
KHARTOUM: A Saudi firm will hold off its planned project in Sudan to produce wheat and other basic food items until the government eases a ban to repatriate profits, its
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Bids sought for Jazan plant

Tuesday 21 May 2013
ALKHOBAR: Saudi Aramco has invited bids for the construction of a 2,400 megawatt (MW) power plant in Jazan, near a 400,000 barrel-per-day oil refinery which it is currently building, two industry sour
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Kuwait bourse extends rally; UAE markets slip off multi-year highs

Monday 20 May 2013
DUBAI: Kuwait's bourse extended sharp year-to-date gains in heavy trading, while profit-taking weighed on bourses in the UAE and other markets were mixed.
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Qatar sets up $1bn energy infrastructure fund

Monday 20 May 2013
DOHA: Three Qatari state-backed entities, including the nation’s acquisitive sovereign wealth fund, are setting up a $1 billion fund to invest in overseas energy infrastructure assets.
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Gulf Capital to raise $360 m partly for dividend payout

Monday 20 May 2013
DUBAI: Abu Dhabi private equity firm Gulf Capital is close to signing a AED 1.32 billion ($359.38 million) Islamic loan for its company Gulf Marine Services, some of which will be paid out to investor
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Saudi banks deposits grow to SR 1.1 trillion

Monday 20 May 2013
A study conducted by the economic unit at the newspaper on the volume of call deposits and saving in Saudi banks listed in stock markets found out that the first categor
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Al-Abdulkarim: Bright prospects for graduates of local universities

Monday 20 May 2013
Modern Products Company, a joint venture with Procter & Gamble, has been ranked in the top three of the “Best Saudi Company to Work” for 2011 listing for
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Food, hospitality show draws 400 companies from 17 countries

Monday 20 May 2013
The 18th edition of Saudi Food & Hotel and Hospitality 2013 opened yesterday, highlighting the importance of the region’s annual food and hospitality trade eve
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Boeing marks Saudi milestone with delivery of new plane

Monday 20 May 2013
Boeing has delivered a 777-300ER (Extended Range) plane to Saudia, marking the latest milestone in its longstanding relationship with the airline and the Kingdom.
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Bab Rizq Jameel showcases successful Saudi projects

Monday 20 May 2013
Bab Rizq Jameel (BRJ), an initiative of Abdul Latif Jameel Community Initiatives (ALJCI), took part in the Exhibition and Conference of Small and Medium Enterprises &mda
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