Kingdom of Saudi Arabia – Al-Riyadh 12 June 2011 – Jadwa Investment has been honored with the Overall Best Islamic Investment Bank Award for 2011 by Global Finance Magazine. The announcement was made at Global Finance’s fourth annual awards for the World’s Best Islamic Financial Institutions. The awards are given to banks and investment houses [...]

Saudi Arabia, Kuwait, Qatar and UAE emerged as four of the top ten countries in the world with the highest density ultrawealthy households. The findings appear in BCG’s eleventh annual Global Wealth report titled Shaping a New Tomorrow: How to Capitalize on the Momentum of Change, which was released recently in the Middle East. According [...]

US conglomerate also plans to make an additional investment of 600m Saudi riyals in a special equipment unit   Riyadh: In a major step to provide quality energy services to its customers in Saudi Arabia and the region, US manufacturer General Electric launched its Energy Manufacturing Technology Centre (Gemtech) in the Eastern province. Prince Mohammad [...]

  Ending speculation that it is about to limit the stay of expatriate workers to six years, Saudi Arabia has clarified that the decision applies to only those private sector firms that do not abide by the country’s job nationalisation quotas. A government official was reacting to statements made by Saudi Labour Minister, Mr Adel Faqih [...]

Nas Air, the first low cost carrier airline based in Saudi Arabia, has launched new flights to three major cities in Turkey: Istanbul, Antakya and Adana. The airline will operate 11 scheduled weekly flights from Riyadh and Jeddah airports, bringing the number of its international destinations to 21 cities. Nas Air is the first airline [...]

Riyadh 4 SPT, 2010: Compared to the same period last year, advertising expenditure in the GCC increased 20%. According to the Pan Arab Research Centre (PARC), advertising expenditure in the region, which includes Pan Arab media which is mainly satellite TV channels, reached $5.05 billion from January to June compared to $4.22 billion in 2009. The increase exceeded [...]

Saudi Arabia 04 September 2010: Real estate prices are on the rise in parts of Riyadh and Jeddah as Saudi Arabia’s growing population drives up demand for residential properties, according to research undertaken by the Consulting Division of Oxford Business Group (OBG). Rakesh Kunhiraman, Dubai-based Director of OBG’s Consulting Division, said the growth witnessed in prime and emerging [...]

JEDDAH, Saudi Arabia — Saudi low-cost private airline Sama, launched in 2007 to serve Gulf and other Arab states, said it is to suspend services from Tuesday due to financial problems. It was Sama’s only choice left “after several months of searching for alternatives to avoid suspending our operations,” the airline?s CEO Bruce Ashby said [...]

RIYADH/NEW YORK, Aug 3 (Reuters) - Saudi Arabia on Tuesday ordered at least one Research In Motion’s BlackBerry smartphone service to be blocked as of Friday, becoming the latest government to threaten to curb the device on security grounds. The issue, which pits governments against BlackBerry’s super-secure encrypted services, has flared at a particularly inopportune time [...]

Group Highlights • Order book remains strong at £58.4bn (2009 year-end £58.3bn). • Group revenues increased to £5,421m (2009 first-half £5,142m). Revenues on an underlying basis * increased by seven per cent to £5,259m. Services revenues increased by eight per cent to £2,615m on an underlying basis. • Profit before financing was £594m (2009 first-half £593m). [...]