Saudi Arabia IPO subscriptions decline 53 in 6 months

albawaba - Wednesday 19th June, 2013

Only Saudi citizens are allowed to subscribe for IPOs The subscriptions to IPOs (initial public offerings) in the Saudi stock market dropped drastically during the year, according to a recent economic study."The total amount of IPO subscriptions since the beginning of the year till June fell to SR 1.2 billion, accounting for 53 percent compared to SR 2.5 billion in the same period last ...

Saudi Tycoon Eyes Moscow as Site for Worlds Tallest Building

Congoo - Wednesday 19th June, 2013

MOSCOW, June 19 (RIA Novosti) may build a mile-high skyscraper in Moscow, which would be the worlds tallest building by far, Russian Vesti FM radio reported, quoting UAE media. The prince is also considering Shanghai, London and New York as possible locations for the 1600-meter (5,280 feet) ...

Saudi- Contractors delay 400 projects in Makkah

Congoo - Wednesday 19th June, 2013

(MENAFN - Arab News) Around 400 infrastructure and service projects in Makkah are delayed, said an official at the Makkah Mayoralty. Several road construction projects, flood projects, works in public parks and gardens and the municipality's utilities are running behind schedule. "The mayoralty ...

Saudi tragedy 5-year old went out to play came back dead

Congoo - Wednesday 19th June, 2013

A five-year old Saudi boy was found dead on the roof of a deserted house and police said they believe he was murdered by more than one man. Abdul Mohsen Hamoud had stepped out of his house in the southern village of Malkouta to play with his friends but he never returned home. His father, ...

UK denies role in Bahrains security action

Congoo - Wednesday 19th June, 2013

A senior British government official has categorically denied that the UK could be held responsible for the actions of Bahrain's security forces in February 2011, a report said. British Foreign Office Minister for Mena Alistair Burt was giving evidence during the sixth and final session of a ...

Saudi- ISPAF calls for democratic IISJ elections

Congoo - Wednesday 19th June, 2013

(MENAFN - Arab News) Some parents at the International Indian School in Jeddah (IISJ) appealed to school authorities to move the June 20 management committee elections to another date after the summer holidays and to first address issues that had been raised. "The election process has been totally ...

Saudi- Guy Fawkes mask defies the ban

Congoo - Wednesday 19th June, 2013

(MENAFN - Arab News) Guy Fawkes masks popularized in the movie 'V for Vendetta' are still sold on Jeddah's streets near traffic lights and on sidewalks despite the ban of the Ministry of Commerce on selling and importing the masks. Last month local newspaper Al-Madina reported that the Ministry of ...

Saudi- Haia chairman in Taif survives murder attempts

Congoo - Wednesday 19th June, 2013

(MENAFN - Arab News) The chairman of the Commission for the Promotion of Virtue and Prevention of Vice in Asheera Center in northern Taif, Sheikh Mohammad bin Mizil, survived two attempts on his life. The attacker tried to hit Bin Mizil with his car while he was carrying out his daily duties. Bin ...

Saudi- Relaxed working hours for Ramadan

Congoo - Wednesday 19th June, 2013

(MENAFN - Arab News) Ramadan working hours will be six for the private sector and five for the public sector. The Labor Ministry said the hours for the holy month were fixed on the basis of Article 98 of the Labor Law. A source said the government took the decision to help employees fast without ...

Saudi- Pakistan Embassy to host job fair

Congoo - Wednesday 19th June, 2013

(MENAFN - Arab News) The Embassy of Pakistan is organizing a job fair at the Pakistan International School in Nasiriya, Riyadh tommorrow from 9 a.m. to 5 p.m. to assist community members seeking to find jobs and normalize their work status. Speaking to Arab news, Syed Hammad Abid, community ...

Saudi- JIP corruption 3 officials jailed fined

Congoo - Wednesday 19th June, 2013

(MENAFN - Arab News) Three Jeddah Islamic Port (JIP) officials were sentenced to jail terms and fines for falsely recording that malfunctioning containers at the port were in good working order. They had done so to benefit a company that leased these containers. The Third Circuit of the Jeddah ...

Dubais Depa upbeat on Saudi after contract wins

Arabian Business - Wednesday 19th June, 2013

Depa Limited, the interior contracting firm which fitted out the Burj Khalifa, on Tuesday announced that its business in Saudi Arabia has topped the AED1bn ($272m) ...

Prince Alwaleed receives prince Philippe of Liechtenstein

AME Info - Wednesday 19th June, 2013

Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) received Prince Philipp of Liechtenstein, Chairman of the board of trustees LGT Bank and Financial Group and an accompanying ...

Jeddah sewage crisis prompts $14.7m of projects

Construction Week Online - Wednesday 19th June, 2013

A sewage problem in Jeddah which has seen wastewater running and pooling in various residential districts and streets has prompted local authorities to announce several drainage projects to address the issue - including two in Al-Haramain and Al-Jaweed worth a total of $14.7m (SAR 55m). Jeddah’s mayoralty and National Water Company (NWC) sources told ...

Saudi prisoners stage hunger strike

Arabian Business - Wednesday 19th June, 2013

Political prisoners have taken action in protest of their incarceration without charge or trial, as well as the conditions in which they are being ...

Aruba Networks acquires Meridian Apps

AME Info - Wednesday 19th June, 2013

Aruba Networks, Inc, a leading provider of next-generation network access solutions for the mobile enterprise, announced the acquisition of privately-held Meridian Apps, Inc. ...

3M inaugurates new state of the art office facility in Riyadh

AME Info - Wednesday 19th June, 2013

In line with its long standing commitment to the Kingdom of Saudi Arabia (KSA), 3M, a recognized leader in research and development has announced the opening of a new and expansive office facility in ...

Fate of 40000 workers from State in Gulf countries hangs in balance

Congoo - Wednesday 19th June, 2013

Family members of Gulf victims staging a protest at Indira Park in Hyderabad on Tuesday demanding ex gratia for those who committed suicide in Gulf countries. |EPS A family of daily wage workers from Malkapur village in Nizamabad district sold their ancestral land in 2012 to make arrangements for ...

Two new Babyshop stores opened in Jeddah

AME Info - Wednesday 19th June, 2013

Landmark Group has announced the opening of two new Babyshop stores in the Saudi city of Jeddah, Saudi Gazette has reported. The company's 31st and 32nd outlets in the kingdom's Western Region are located at Al Emmam Al Bukhari Road and Flamingo ...

Saudia told to enhance services

AME Info - Wednesday 19th June, 2013

The Saudi cabinet has urged Saudi Arabian Airlines (Saudia) to boost the number of its domestic flights, raise the number of seats to all destinations to meet passenger demand and improve the quality of its services, Arab News has reported. "Saudia should continue its efforts to develop its technical and service capabilities so as to provide distinguished services to win passenger ...

Saudi Arabia spends 5.6 of GDP on education

General Sources - Tuesday 18th June, 2013

Kuwait Financial Centre (Markaz) recently published the executive summary of its report on GCC education sector. In this research note, Markaz analyzes status of the GCC education sector and highlights its current and expected enrollment trends and market size. The report also discusses challenges and investment opportunities in the GCC education sector. Based on the report's estimates, in ...

Saudi women jailed for trying to help a Canadian

General Sources - Tuesday 18th June, 2013

Two Saudi women who attempted to help Canadian Nathalie Morin, shown here, were sentenced to 10 months in prison for incitement of a wife to defy the authority of her ...