Call for authority to regulate Saudi real estate market

MENAFN - Tuesday 21st May, 2013

(MENAFN - Arab News) The two-day Saudi International Real Estate Conference (SIRC 3), organized by the National Real Estate Commission of Council of Saudi Chambers (CSC) in collaboration with a group of economists and businessmen, ended in Riyadh yesterday. Undersecretary for Foreign Trade Mohammed bin Hamad Al-Kathiri opened the event on Sunday. The third edition of the conference, which builds ...

Saudi- KACST Saudi Aramco to discuss model incubator in Eastern Province

MENAFN - Tuesday 21st May, 2013

(MENAFN - Arab News) The King Abdulaziz City for Science and Technology (KACST) and Saudi Aramco will jointly hold a workshop in Dhahran June 6 to discuss development of a specialized incubator for advanced manufacturing in the Eastern Province. The decision to hold a workshop was taken at a recent meeting, held between Jamal Samih Al-Nabulsi, executive director of Wa'ed of Saudi Aramco, ...

Nael Fayez SR 2400 expat fee will weed out unskilled labor

MENAFN - Tuesday 21st May, 2013

(MENAFN - Arab News) The robust Saudi economy is passing through a unique phase providing innumerable opportunities for the first time in history."So we need a number of qualified executives and skilled manpower to drive the economy and make the best of the current economic boom in the Kingdom," says Nael Fayez, CEO of INJAZ-Saudi Arabia."The ongoing development projects need both ...

Saudi- National Water Company to invest SR 50 bn in new projects

MENAFN - Tuesday 21st May, 2013

(MENAFN - Arab News) The power and water sectors are experiencing a massive boom in Saudi Arabia, according to Abdulrahman Almutari, head of privatization at the National Water Company (NWC). He stated that over SR 50 billion will be invested in water and wastewater projects from 2013-2017. Speaking at the 1stday of the 9th Water, Electricity and Power Generation Conference (WEPower 2013) in ...

Claim Saudi princes laundered Hezbollah money fanciful-lawyer

Congoo - Tuesday 21st May, 2013

* Saudi princes accused of laundering money for Hezbollah * Lawyer tells High Court the allegation is "fanciful" * Business dispute to go to trial in January By Estelle Shirbon LONDON, May 21 (Reuters) - Two Saudi princes on Tuesday sought to extricate themselves from a London legal battle with a ...

Passport issue resolved with Saudi Arabia India

Congoo - Tuesday 21st May, 2013

RIYADH: India and Saudi Arabia today resolved the issue of refusal of new Indian passports by immigration authorities in Jeddah which had caused concern among the Indian expatriates in the Kingdom. Indian Ambassador to Saudi Arabia met Saudi Deputy Minister of Interior Dr Ahmed Al-Saleh in the wake ...

Secretary of Eastern Chamber Meets with Director of Saudi-Japanese Trade Cooperation

Congoo - Tuesday 21st May, 2013

SPA -- Secretary General of the Chamber of Commerce and Industry of the Eastern Region Abdulrahman Al-Wabel has met here with Director of Saudi-Japanese trade cooperation Center (JETRO), Yasuyuki Morhasha, on the occasion of the end of his tenure in the Kingdom. During the meeting, which took place ...

Saudi Interior Ministry says 10 more members of alleged Iranian spy ring arrested

Canada.com - Tuesday 21st May, 2013

RIYADH, Saudi Arabia - A Saudi official says police have detained 10 more members of an alleged Iranian spy ring -- eight Saudis, one Lebanese and one Turkish national. Interior Ministry spokesman Maj. Gen. Mansour al-Turki said in a statement Tuesday that investigations in the March arrest of 18 alleged spies had led to the new arrests. The ministry said on March 19 that security authorities ...

Saudi Arabia arrests more ‘Iran spy ring’ suspects

Ya Libnan - Tuesday 21st May, 2013

Saudi Arabia has arrested 10 more suspects in what it says is a spy ring linked to Iran, state media report. Those detained include eight Saudis, a Turk, and a Lebanese citizen. Eighteen people were arrested in the same case in ...

Drake Scull wins contract to build towers in Jeddah

The National - Tuesday 21st May, 2013

Drake & Scull has been awarded a 1.725 billion Saudi riyals (Dh1.689bn) contract by the Saudi developer Lamar Investment and Real Estate Development to build one of the tallest buildings in Saudi Arabia. The long-delayed Lamar Towers project in Jeddah will comprise twin towers stretching 57 and 49 storeys above the Jeddah Corniche. Drake & Scull Saudi Arabia will oversee and undertake ...

Saudi princes accused of laundering for Hezbollah

Jerusalem Post - Tuesday 21st May, 2013

LONDON - Two Saudi princes on Tuesday sought to extricate themselves from a London legal battle with a Jordanian businessman who accuses them of laundering money for Hezbollah, an allegation their lawyer called "fanciful".Prince Mishal bin Abdulaziz al Saud, a brother of Saudi Arabia's King Abdullah, and his son Prince Abdulaziz bin Mishal, had previously argued they had ...

IMF says Saudi outlook positive for 2013

Congoo - Tuesday 21st May, 2013

IMF says Saudi outlook 'positive' for 2013 Predicted continued growth, but said reforms to energy prices, employment policy and public spending should continue Attendees speak to each other during the Euromoney Conference in Riyadh May 8, 2013. (REUTERS/Faisal Al Nasser) London, Asharq Al-Awsat--The ...

Saudi Arabian princes await decision on UK court battle. Allegations include laundering

Congoo - Tuesday 21st May, 2013

(National, The (United Arab Emirates) Via Acquire Media NewsEdge) LONDON // Two Saudi princes will hear this week if they have been successful in extricating themselves, and companies in which they are shareholders, from answering to accusations in a UK court case about money laundering for ...

Tunisia announces three cases of coronavirus one death

Congoo - Tuesday 21st May, 2013

A 66-year-old Tunisian man has died from the new coronavirus following a visit to Saudi Arabia and two of his adult children were infected with it, the Tunisian Health Ministry reported. His sons were treated and have since recovered but the rest of the family remains under medical observation, the ...

Saudi Aramco Invites Bids for IGCC Power Plant

Congoo - Tuesday 21st May, 2013

Saudi Aramco has invited bids for the construction of a 2,400 megawatt (MW) power plant in Jazan, near the 400,000 barrel-per-day Jazan Oil Refinery which it is currently building, two industry sources said on Monday. The plant will use integrated gasification combined cycle (IGCC) technology to ...

Saudi Arabia eases restrictions on visiting Islamic historical sites

Congoo - Tuesday 21st May, 2013

SAUDI ARABIA this year will begin allowing Muslim pilgrims to visit other Islamic and historical sites through its new 'Umrah-Plus' visa, in a bid to strengthen its tourism industry. The new, month-long visa allows those on religious pilgrimages to participate in supervised tours of cultural sites ...

Ascott ventures into Saudi Arabia with serviced residence

Congoo - Tuesday 21st May, 2013

ASCOTT has bagged a management contract to operate its first serviced residence, Ascott Olaya Riyadh, which is set to debut in 2015. Rafal Real Estate Development will develop the 230-unit property, located near the King Abdullah Financial District. Chong Kee Hiong, CEO, Ascott, said: "Saudi Arabia ...

Green Motion franchise for Jordans Sadeen Rent a Car

Congoo - Tuesday 21st May, 2013

Green Motion Car Rental Continues its Worldwide Expansion with the Sale of its Master Franchise for the Middle East Environmentally friendly Rent a Car company, Green Motion, has announced today sale of its regional master franchise territory to a Jordan based company, Sadeen Rent a Car. Sadeen ...

Lebanese farmland firm to invest up to $800m in Sudan

Arabian Business - Tuesday 21st May, 2013

Lebanese farmland investor GLB Invest plans to invest up to $800 million in Sudan to produce animal feed to be sold to Saudi Arabia, its president said on ...

Dar Al Arkan slips as developer kicks off sukuk roadshow

AME Info - Tuesday 21st May, 2013

The Tadawul All-Share Index ended up 0.66% at 7,355.27 Tuesday. While market heavyweight Sabic gained 1.62% to hit SR94.25, Dar Alarkan Real Estate Development Company fell 0.56% to SR8.90, after hitting an 8-month high last Saturday. Dar Alarkan started a roadshow to raise $500m through a greenback bond. The firms said yesterday it will laucnh the Islamic bond through several tranches within ...

Saudi Arabia Approves $1.6 Billion for Water Projects

General Sources - Tuesday 21st May, 2013

Saudi Arabia 's Water and Electricity Ministry approved more than 5.9 billion riyals ($1.6 billion) in spending for water and sanitation projects in Jazan on the Red Sea ...

New Saudi Force in America

General Sources - Tuesday 21st May, 2013

It is not true that Saudi Arabia only looks at the present moment that is overflowing with oil, without keeping an eye on the future of the economy and the development of the Saudi citizens. And the fact that the state has not established a sovereign fund like other Gulf countries, does not mean that the Kingdom is uninterested in the purpose for which these massive financial funds are ...