Alarmed by a predominantly expatriate workforce in Saudi Arabia sending large money transfers outside of the country, the Saudi Labor Ministry has said it will introduce a “salary protection” program to boost its domestic economy. The new program will dictate the amount an expat working in Saudi Arabia can send back home, the Saudi labor [...]

Saudi Arabia is the top ranked country in the Middle East for the ease of doing business through regulatory reforms, a World Bank report has said. Out of 183 economies around the world, the Gulf kingdom was ranked 12th in the Doing Business in a More Transparent World report. It ranks the economies in 10 [...]

Salaries in Saudi Arabia’s private sector are set to increase by five percent over the next 12 amid an increase in demand for Saudi nationals in the private sector, a new survey said on Tuesday. A total of 30 percent of 250 companies surveyed in the kingdom said they had difficultly retaining their staff, up [...]

JEDDAH: Saudi Arabia has broken into the top 20 most competitive economies of the world for the first time, which also saw other Gulf countries continue their upward trend of recent years.   The Global Competitiveness Report 2011-12, released Wednesday by the World Economic Forum (WEF), put Saudi Arabia at No. 17 from No. 21 [...]

Dubai, Aug 18 (PTI) Saudi Arabia is the cheapest place to build in the Middle East, while construction in Bahrain costs more than anywhere else in the Gulf region, a new report has revealed. The study by international built asset consultancy EC Harris indicated that it was almost half as expensive to build in Saudi [...]

Private schools in Saudi Arabia have been forced to raise their fees by up to 30 percent following the introduction of a minimum wage for teachers, it was reported Tuesday. The move to enforce a base salary of SR5,000 ($1,333) for teachers has raised fears some schools may close as they struggle to cover the [...]

Riyadh 12 June 2011 – Jones Lang LaSalle, the world’s leading real estate investment and advisory firm, today released its latest “Riyadh Real Estate Market Overview – Q1 2011” covering the Riyadh office, residential, retail and hospitality market segments. According to the report, the Riyadh real estate market is expected to experience strong demand on [...]

Riyadh, 20 April 2011: The National TriGeneration CHP Company (“NTCC”), which specializes in cooling, heating, and power systems, announced the signing of a joint venture (JV) with UGL Limited (ASX: UGL) (“UGL”), an Australia-based international property and facilities management company. The JV entity, to be named, UGL Services, will initially focus on providing facilities management [...]

The Jeddah Economic Forum (JIF 2011), titled Transformations in the Twenty-First Century, will have well-known, high profile participants, such as heads of states and eminent economic decision-makers from all around the world. The Forum offers the opportunity to benefit from the experiences of others in the world of industry, economics, finance, and business. JEF is [...]

Bloomberg, the New York-based financial data giant, saw Middle East revenues rise by 15.6 percent in 2010 its chairman said Thursday. The firm, which provides financial news to some 300,000 subscribers worldwide, expects sales in emerging markets to grow at 15 to 20 percent annually, Peter Grauer said. “Last year we were up 15.6 percent [...]