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  • Saudi Arabia’s ‘Longest Railway’ to Come Online in December
     

    Saudi Arabia’s “longest railway” running over 1700 miles between capital Riyadh and the northern city of Gurayat will kick-start operations on December 24, 2017. Considered to be one of the world’s longest railway lines, the line will pass through Majmaa, Qassim, Hail, and the Al-Jouf regions of the Kingdom. Six railway stations are in the pipeline along the […]

     
  • Looking East, Saudi Arabia Plans $20b Investment Fund with China, Al-Falih Says
     

    Saudi Energy Minister Khalid al-Falih said that the Kingdom and China plan to establish and operate jointly a $20 billion investment fund, sharing costs and profits on a 50:50 basis, according to a Reuters report based on comments from the minister. H.E. Al-Falih, who is Saudi Arabia’s Minister of Energy, Industry, and Mineral Resources, was […]

     
  • Vision 2030 Opportunities ‘Unprecedented in the Region’, HSBC Exec Says as Bank Plans Saudi Expansion
     

    HSBC is planning to add staff to its Saudi Arabian operations as the kingdom embarks “on one of the biggest economic transformations attempted by any country,” the bank’s regional chief Georges Elhedery told Reuters, via the New York Times. HSBC, which started as the Hong Kong and Shanghai Bank and is now based in London, is a […]

     
  • Report: Saudi Oil Minister Khalid Al-Falih Met With Top Commodity Hedge Funds
     

    Saudi Arabia’s Minister of Energy, Industry and Mineral Resources Khalid Al-Falih met in private with some of the world’s top commodity hedge funds in July, a break from tradition in order to gather investor views on the state of the market, Bloomberg reports. In the past Saudi Arabian officials have criticized the role of speculators and hedge funds in […]

     
  • Recent Economic Data for July 2017 Points to Mixed Picture for Saudi Economy
     

    Growth in Saudi Arabia’s non-oil private sector accelerated in July, albeit at a moderate pace, while the expansion in employment slowed, according to a Reuters report citing a Emirates NBD survey. “The seasonally-adjusted Emirates NBD Saudi Arabia Purchasing Managers’ Index (PMI) rose to 55.7 last month from 54.3 in June. A level above 50 means business is […]

     
  • With Riyadh Metro Progressing, Bechtel Eyes Mining Sector Growth as Saudi Arabia Diversifies
     

    Bechtel, the construction company behind some of the world’s largest and most impressive megaprojects, is eyeing growth in Saudi Arabia’s mining and minerals sector, according to reports and quotes by the company’s Saudi Arabia country manager. “Mining and metals is something that is of extreme interest to us,” said Abdulrahman Al Ghabban, who was appointed […]

     
  • Plans to Tap Massive Tourism Potential for Saudi Arabia’s Red Sea Unveiled
     

    Saudi Arabia wants to turn hundreds of miles of its Red Sea coastline into a global tourism destination, according to an announcement by the government’s Public Investment Fund (PIF) and reports. The development will include “50 islands and 34,000 square kilometers — an area bigger than Belgium — between the cities of Umluj and Al Wajh […]

     
  • Rumors Abound Regarding Location(s) of Saudi Aramco IPO Listing
     

    Saudi Aramco’s advisers have recommended London for the historic listing of the oil company, sources familiar with the matter told Reuters in an exclusive report. The report said U.S. disclosure rules were a concern for Saudi authorities. London’s Financial Conduct Authority (FCA) has proposed a rule change that would allow state-owned companies, such as Saudi Aramco, to […]

     
  • New Saudi City Aims for Nearly 1m New Housing Units Near Mecca and Jeddah
     

    Details have emerged on plans for a “giant extension” to the holy city of Mecca in Saudi Arabia that could add up to one million housing units by 2050, according to reports. Prince Khalid Al-Faisal bin Abdulaziz is governor of the Mecca Region. In a press conference, the Prince told reporters that the Al-Faisaliah project […]

     
  • Saudi Female Private Sector Employment Grew 10% in 2016, Ministry of Labor Says
     

    The employment of Saudi women in the private sector increased 10 percent in 2016 over the previous year, according to the Saudi Ministry of Labor and Social Development as reported in the Saudi Gazette. The latest figures show a continuation of a dramatic increase in the last four years for female participation in the workplace. Based on figures provided […]

     

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