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Saudi IMI signs rig deals with ARO and Lamprell
International Maritime Industries, located in The King Salman Complex for International Maritime Industries & Services at Ras Al-Khair, Saudi Arabia, will be the largest, full service maritime facility in MENA. International Maritime Industries is a joint venture between Saudi Aramco, Lamprell, Bahri and Hyundai Heavy Industries.
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Inaugural Saudi Cup coming up a blockbuster – and so could the undercard
A clash of Eclipse Award finalists Maximum Security, McKinzie, and Midnight Bisou ramps up anticipation for the inaugural $20 million Saudi Cup. Moreover, Riyadh’s Feb. 29 program as a whole could turn out to be a blockbuster, if the nominations for the supporting prizes are any indication.
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Saudi Religious Scholars Debate if Shops Should be Closed at Pray Time
Saudi Arabia has recently announced allowing commercial activities to function for 24 hours, in a new string of promised boosts of business and provide services for all. While the change solves many problems, such as congestion and loss of potential income, many Saudis still debate whether or not it will include the custom of shops closing during prayer time, five times a day.
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Saudi’s United Electronics to Evolve Online Platform, CEO Mohammed Galal Fahmi Says
Mohammed Galal Fahmi, chief executive officer of United Electronics Co., a consumer electronics retailer in Saudi Arabia, talks about its business strategy and outlook. United Electronics reported profit for the full year that beat the average analyst estimate.
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Saudi Arabia’s 2020 growth forecast cut by IMF on OPEC+ cuts
Saudi Arabia's 2020 GDP will be 1.9%, down from 2.2% projected in October, the IMF said. The fund kept its 2021 forecast at 2.2%, compared with 0.2% for 2019.
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Saudi Arabia records a 51 per cent increase in FDI in 2019, Invest Saudi
In a report, Invest Saudi, the state entity in charge of promoting foreign investment, said that a total of 1,131 of foreign companies were created in 2019, a 54 per cent increase from 2018, adding that this was the biggest rise in 10 years. Of the 1,131 investor licences issued in 2019, 69 per cent were full foreign ownership and 31 per cent accounted for joint venture partnerships with local investors.
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Saudi Arabia reiterates its commitment as top Sudan Donor
Saudi Arabia, the biggest aid provider to Sudan, has pledge continued commitment to the beleaguered state. The pledge was made a high-level roundtable on Humanitarian Aid in Sudan co-hosted by the UK, Sweden and the UN's Office for the Coordination of Humanitarian Affairs (OCHA) in London.
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Car bomb attack wounds Turkish contractors, police near Somali capital
Somali insurgents linked to al Qaeda claimed responsibility for a car bombing on Saturday that wounded at least 15 people in Afgoye, northwest of the capital Mogadishu.
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Saudi courts to handle copyrights, patents cases
Saudi commercial courts and departments will handle copyrights and patents-related cases from February. The cases will be heard in commercial courts and in commercial departments inside general courts across the Kingdom.
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Gulf carriers fly over Iraq, Iran after military action deters others
Qatar Airways, Emirates and several other Gulf airlines still fly in Iraqi and Iranian airspace and to cities in both countries, even as other international carriers have rerouted planes since the United States and Iran traded military strikes.
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