Month: March 2016

IMF warns of global economic collapse, calls for strong alliances

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Reading time: < 1 MinuteThe International Monetary Fund (IMF) warned of a global economic collapse as a result of wrong policies, and called on the leaders of countries to increase their efforts, including providing fiscal and monetary stimulus, and implementing the necessary structural reforms to support growth. During a conference held by the National Association for Business Economics, IMF Deputy Director David Lipton stressed the need to rationalize government spending and cut taxes, pointing out that ... Read more

Turkish tourism attracts more than 450,000 Saudi visitors in 2015

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Reading time: < 1 MinuteTourism in Turkey has recently flourished significantly, benefiting from the security instability in many neighboring countries, which prompted Arab and Gulf tourists in particular to choose Turkey as a favorite tourist destination. According to unofficial data, the number of Saudi tourists who visited Turkey during the previous year was more than 450,000 visitors, while their number in ... Read more

Rising real estate prices raise economic concerns in China

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Reading time: < 1 Minute  The beginning of 2016 witnessed a high wave of rising real estate prices in China, as figures released by the Chinese State Administration of Statistics indicated that real estate prices in the southern Chinese city of Shenzhen rose by 52.7% in January compared to last year, while real estate prices in Shanghai and Beijing rose by 21.4% during the same month... Read more

Family businesses are contributing to national economies and are evolving to compete

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Reading time: 2 MinutesA seminar titled “Key long-term success factors for Saudi family businesses” revealed the economic strength of family businesses in the Kingdom, and the figures showed that their wealth amounts to about 22.5 billion riyals, and the size of their investments in the Saudi market equivalent to 10 percent of GDP and 40% of non-oil GDP. 62% of the wealth of family businesses ... Read more

“Wathrah Real Estate Development leads Saudi-American consortium to build 20,000 housing units

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Reading time: < 1 MinuteWith the aim of building 20,000 housing units, Wathra Real Estate Development Company signed an alliance agreement with Techni Structura, an American company specialized in housing development and housing construction, and the alliance includes an integrated system of real estate development companies, national contracting companies, in addition to a number of American companies. The alliance comes as part of the government's strategic directions to promote partnership between national and foreign companies, with the aim of bridging ... Read more

Khalid Al-Faisal honors Riyad Bank for sponsoring the Jeddah Economic Forum

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Reading time: < 1 Minute  Riyad Bank confirmed its keenness to participate and sponsor national economic events in order to achieve its goals and strategy in serving the community in support of the wheel of development. This came on the occasion of being honored by His Royal Highness Prince Khalid Al-Faisal, Advisor to the Custodian of the Two Holy Mosques and Governor of Makkah, and sponsoring the Jeddah Economic Forum, held recently in Jeddah, under the title: “Private Sector Partnerships ... Read more

Completed 17 kilometers. Riyadh train tunnel boring machines complete 50% of the project

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Reading time: < 1 Minute The Riyadh train drilling machines have come a long way in digging tunnels, as the Riyadh train Twitter account announced that the seven drilling machines (TBMs) have traveled more than 17 kilometers, with the completion rate of deep tunnels reaching 50%. It is noteworthy that the Riyadh train project includes 7 giant tunnel boring machines, each of which is between 90 and 120 meters long, ... Read more

Abdulaziz Muhammad Al-Ajlan writes : To solve the housing issue, the ministry must activate the real estate marshal!!!

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Reading time: 8 Minutes  I hesitated more than once before writing about the topic of land fees, especially since I received more than one piece of advice saying that you are stirring up pens that will not be merciful to you, and you are considered real estate, although your professional roots are commercial, industrial, and then real estate. Read more

Saudi Cargo wins Fastest Growing Carrier Award in 2015

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Reading time: < 1 Minute Saudi Cargo was crowned the fastest growing carrier in 2015 during its participation in the India Air Cargo Expo 2016, which was held recently in Mumbai, through a survey conducted by STAT Times, a publication specialized in the air cargo industry. Reiner Muller, Vice President of Commercial, said the honor is a result of the practical steps Saudi Arabia has taken to ... Read more

DEWA awards Grundfos with the Sustainability High Performance Award  

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Reading time: 2 MinutesGrundfos, the world's leading pump manufacturer, has been recognized by Dubai Electricity and Water Authority (DEWA) with a High Performance Award and Certificate during the 2015 Annual Supplier Evaluation, which evaluates the transparency of DEWA's relationships with its partners in terms of effectiveness and efficiency. Grundfos was recognized for its commitment to sustainability and energy-efficient practices in ... Read more

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