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Recovering Saudi Economy Sees Unemployment Among Saudi Nationals Lowest Since 2009
Saudi Arabia’s booming economy is translating to a strong job market in the Kingdom both for expats and citizens alike, according to a report in Bloomberg, which cited latest data from the kingdom’s General Authority for Statistics.
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US to Ban Russian Oil Imports over Ukraine Invasion; Report Says Biden Team Considering Saudi Visit
President Joe Biden will announce a ban on the U.S. import of Russian energy, in the latest effort to ratchet up sanctions over Russia’s invasion of Ukraine, according to reports.
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NEOM Emerges as Most Desired Real Estate Destination for Saudis — Report
Saudi Arabia’s forthcoming new megacity NEOM on the Red Sea coast has been named as the most preferred location to buy a home by the kingdom’s homeowners, first-time buyers and high-net-worth-individuals (HNWI), according to Knight Frank’s annual 2022 Saudi Residential Survey.
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President Biden, King Salman Speak by Phone; Biden Emphasizes U.S. Support for Saudi Security
President Joseph R. Biden, Jr. spoke with Saudi Arabia’s King Salman to discuss “regional developments and issues of mutual concern, including Iranian-enabled attacks by the Houthis against civilian targets in Saudi Arabia,” the White House said in a statement.
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Top Biden Officials Meet with Saudi Ambassador Reema bint Bandar to Discuss Response to Houthi Attacks on Civilians
The United States has discussed with Gulf allies including Saudi Arabia and the United Arab Emirates to hold Yemen’s Houthi group accountable after the Iranian-backed fighters attacked the UAE for the second time in a week, the White House said.
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Saudi-backed Coalition Ramps Up Fighting in Yemen; Forces Re-Take Shabwa Province
Forces of Yemen’s Saudi-backed, internationally recognized government in Yemen have reclaimed the entire southern province of Shabwa from Iran-backed Houthi rebels, the AP reports, citing officials. Government forces and Houthi rebels have been locked for months in a fierce battle in northern Yemen, with heavy fighting in the oil and gas rich Marib and Shabwa provinces.
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Saudi Arabia Plans PIF Takeover of Airport Operators with Eyes Toward Privatization
Saudi Arabia plans to convert its airport operators into holding companies and transfer them to the Public Investment Fund (PIF), according to a Reuters report, citing Abdulaziz Al-Duailej, the head of Saudi Arabia’s General Authority of Civil Aviation. Some of the new companies may eventually be privatized, according to Al-Duailej. Per Reuters: “The kingdom’s 22 airports […]
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MBS’s GCC Tour, PIF’s Latest Telecom Moves, and Saudi Arabia’s ‘Ever More Ambitious Investment Strategy’ with Guest Co-Host Robert Mogielnicki from AGSIW
This week, The 966 welcomes guest co-host Robert Mogielnicki from the Arab Gulf States Institute in Washington (AGSIW) and Adjunct Assistant Professor at Georgetown University. The hosts discuss the changed working week in the UAE and discuss why visiting Saudi Arabia is the best way to understand what’s going on in the country. Then, the hosts […]
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After Hosting France’s Macron for Talks, Crown Prince MBS Attends First Ever Saudi Grand Prix
It was a busy weekend for Saudi Arabia’s Crown Prince Mohammed bin Salman ahead of a planned regional trip to neighboring Gulf countries. The crown prince hosted France’s President Emmanuel Macron in Jeddah for diplomatic and trade talks at the Al-Salam palace in Jeddah on Saturday. Macron landed in Jeddah after visits to the United Arab Emirates and […]
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966 E. 11: Saudi Arabia at COP 26, Seven Years of King Salman, and Saudi Arabia’s First Film Festival
Episode 11 of The 966 has the hosts talking about the Red Sea International Film Festival, King Salman in his 7th year on the throne, and Saudi Arabia at COP 26.
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Saudi Arabia’s building and construction exports grow by six per cent annually
The domestic export of construction and building materials and products grew at a constant rate of six per cent per year, reveals a senior official.
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Saudi construction sector faces tough times ahead, says builder
Saudi Arabia's construction industry faces difficult times ahead as the prospect of state budget cuts adds to painful labour reforms, according to major builder Al-Khodari, in a sign of the strain on an economy squeezed by lower oil prices.
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Middle East set to create more construction jobs
Employers (60%) also believe the talent crunch in the market has eased over the last six months, with 52% of the employers confident about not facing any skills shortages in the next six months.
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Saudi Arabia leads ME’s construction market with projects worth more than US$ 1 trillion
One of the key projects in focus in Saudi Arabia is the rail and road programme that includes Riyadh Metro, Dammam Rail, Haramain Rail, Makkah Railway, and Saudi-Bahrain Causeway. Airport construction and upgrades, including work on Riyadh’s King Khaled International Airport and Jeddah’s King Abdul Aziz International Airport as well as construction of new airports in Madinah and Abha Governorates, is another vital segment.
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Skill shortage major challenge in construction
A shortage in labour is currently one of the biggest challenges facing the Middle East construction industry, according to a report commissioned by the organisers of The Big 5.
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UN envoy says Gaza reconstruction speeding up
The United Nations' Mideast envoy on Thursday gave a rare upbeat assessment in the Gaza Strip, saying that reconstruction from last year's war between Israel and Hamas militants is speeding up.
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New Saudi construction body aims to reduce red tape
Asharq al-Awsat newspaper said on Tuesday board members would be named within 60 days and the Association would constitute the official umbrella of the contractors sector in the kingdom. The board would be made up of businessmen, engineers and a representative from the trade ministry, the paper said.
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KSA launches ‘Workforce’ to provide solution to labour challenges in construction
‘Workforce’ takes charge of securing work permits and government related documentation, paying salaries, accommodations, dress and food.
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GCC airport construction 2015-19 to grow by 7.86%
The GCC's airport construction market will grow at a compound annual growth rate (CAGR) of 7.86% between 2014 and 2019, a report has found.
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Analysis: Is the end of Saudi construction’s good days here?
“There has been a relaxation on foreign investment companies coming into the market, which is helping to attract more foreign investors and contractors to Saudi Arabia. What we’ve seen, especially for the mega projects that are underway, is a collaborative approach between local Saudi contractors and international names,” he tells Construction Week.
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