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One of Saudi Arabia’s largest construction companies has issued an Islamic bond widely known as Sukuk in a move to enlarge its operations. The bond which is issued by the Saudi Binladin Group Sukuk limited in the Kingdom is $266.6 Read more
Saudi Arabia is planning mega-housing projects in the Holy city of Mekkah to boost its accommodation capacity as the city hosts every year increasing number of pilgrims. The Saudi firm “Jabal Omar Development Company, which has been entrusted with the Read more
Spanish oil engineering company Tecnicas Reunidas has won an $800m deal to build part of a petrochemical complex in Saudi Arabia. The deal for the Chem-III project, in the Jubail Industrial City II, was awarded to the Spanish company by Read more
News is circulating that Qatar is thinking of purchasing up to 200 tanks from Germany at an estimated price tag of almost 2 billion Euros. German Chancellor, Angela Merkel, has already given a green light to the deal according to Read more
The Qatari government has purchased 24 Swiss-made PC-21 military training planes for its newly created air force academy looking forward to provide world-class training for young pilots. The deal worth over $600 million includes advanced ground-based training tools, logistical support Read more
The infrastructure and construction market in the Middle East-North African region is among the world’s most attractive owing to its size, and forecasting figures predict a total of $ 4.3 trillion will be invested in construction projects across the MENA Read more
The World Bank has released a report claiming that Palestine’s economy is not matured enough to support an independent state any time soon. The report acknowledges the efforts of the political authority but warned of risks. In a statement accompanying Read more
Saudi Arabia, one of the oil-rich Gulf Arabian monarchies, mulls building a landmark mangrove eco-park, first of its kind in the region. This environment friendly project, spearheaded by Saudi Aramco Company, the world wealthiest firm, will serve as a breeding Read more
Saudi Arabia has seen the largest demonstration after the shooting and arresting of Sheikh Nimr al-Nimr, a prominent Shia cleric and anti-government activist, since the November and December ones. The event happened in the eastern city of Qatif during the Read more
The ratings agency Standard & Poor’s predicted that the Gulf Cooperation Council banks will be shielded from the Euro zone turmoil and will continue recovering steadily from the 2008 credit crisis, despite the persistence of some pockets of risk. Since Read more