Month: March 2016

The Council of the Sons of Mousa. Sheikh Al-Zindani: The military alliance is a real beginning for a unified economy and comprehensive development among member states

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Reading time: < 1 MinuteSheikh Abdulmajeed al-Zindani praised the Kingdom of Saudi Arabia’s firm stance toward Islamic nations, noting its wise leadership of the coalition to restore legitimacy in Yemen. Al-Zindani affirmed the pride of the Islamic and Arab nations in the approach of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz—may God protect him—to support the oppressed, praising his stance in support of the Syrian people and stating that the Kingdom will not accept a solution in Syria in which it is not a party. … Read more

UAE's Aldar Properties pays AED 318 million for Al Jimi Mall expansion“

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Reading time: < 1 MinuteThe Emirati real estate company Aldar plans to expand and renovate the facilities at Al Jimi Mall, one of the most prominent shopping centers in Al Ain, Bifot Engineering has been awarded the expansion contract, valued at 318 million dirhams, as part of a comprehensive investment plan worth 3 billion dirhams. Al Jimi Mall welcomes approximately 8 million visitors annually, and the investment in … Read more

10 Greek companies specializing in construction offer their services at Jeddah Chamber

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Reading time: < 1 MinuteTen Greek companies specializing in construction and reconstruction showcased their services to business owners and entrepreneurs, This took place during a reception hosted by the Jeddah Chamber of Commerce for Greek companies that expressed their desire to strengthen trade cooperation between the two countries and provide investment opportunities that contribute to the establishment of joint projects enhancing the distinguished economic relationship between the two nations, in the presence of Saudi investors in the construction sector. The secretary-general … Read more

Al-Otaishan launches Digiya, a company that specializes in technical support for companies and enterprises

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Reading time: < 1 Minute  Abdulrahman Al-Ateishan, President of the Eastern Province Chamber of Commerce, launched the “Ragmia” company, which specializes in providing information technology solutions and is headquartered in Al-Khobar and Riyadh. The company aims to provide support and assistance to businesses and establish an effective system for communication and the optimal use of various innovative technologies needed by companies. Al-Ateishan expressed his delight at the youthful spirit in the workplace, the drive for self-improvement, and the pursuit of innovation in … Read more

“SABIC raises steel prices, imports dominate the market

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Reading time: < 1 MinuteLast week, SABIC began raising prices on some of its steel products, including 8- and 10-millimeter sizes, by 100 riyals per ton, with the price rising from 1,850 riyals per ton to 1,950 riyals per ton, while other sizes— 12, 14, and 16 mm remained at their previous prices of 1,880 riyals per ton. Observers expect that the quantities of imported steel that … Read more

Workshop identifies issues and themes of the Riyadh Economic Forum at its eighth session

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Reading time: < 1 MinuteThe Riyadh Economic Forum organized its main workshop to select the issues it will address during its eighth session, The workshop, attended by a large gathering of business leaders, economists, academics, and representatives of ministries, agencies, and government institutions—numbering over 170 participants—discussed a range of strategic issues that are ofthe economic arena and are most influential and closely tied to the economy’s key sectors… Read more

The Monetary Authority finalizes the development and review of technical procedures for the Mada system“

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Reading time: < 1 Minute  The Saudi Arabian Monetary Authority (SAMA) has completed a review and enhancement of the technical procedures of the “Mada” system to align with local market needs and global trends, and has established a set of standards designed to elevate service levels in line with the Kingdom’s economic growth. In a statement, SAMA noted that the significant expansion of the “Mada” system’s capacity has enabled banks to increase the number of terminals… Read more

Reports: Saudi Arabia's consumption of imported wood rises to more than one million cubic meters

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Reading time: < 1 MinuteIn recent years, the construction sector in the Kingdom has experienced a steady recovery, leading to an increase in the volume of materials consumed and used in the sector. A recent study by WoodStat, an organization that monitors changes in the global timber and forestry industry, revealed that Saudi Arabia has seen a significant increase in its timber imports. Reports indicated that consumption of softwood imports increased … Read more

“Cityscape Turkey” Encourages Saudi Investors to Explore the Turkish Real Estate Market

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Reading time: < 1 MinuteTurkey is hosting the first edition of Cityscape Turkey from March 24–26, 2016, at the Istanbul Congress Center. The “Cityscape” is one of the most important real estate events organized in the Middle East, and Turkey’s hosting of the event is of utmost importance to real estate professionals and investors due to the significant investment opportunities offered by the Turkish market. Istanbul celebrates … Read more

Middle East Electricity Exhibition crowns Saudi Exports with Best Pavilion Award

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Reading time: < 1 MinuteTwenty-two Saudi companies participated in the pavilion organized by the Saudi Export Development Authority as part of the Middle East Electricity exhibition, which kicked off in Dubai during the first week of March. The Saudi companies showcased the latest domestic products at the exhibition, which serves as an important platform for displaying the latest energy equipment and services from the lighting, renewable energy, and energy sectors, and helps create … Read more

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