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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
According to industry sources familiar with the Rabigh II petrochemical expansion project, a deal is in the pipeline and will be concluded before the end of the month between the Saudian-based Oil Company, Aramco, and Sumitomo Chemical from Japan. The Read more
Synergics-MENA, a joint venture between Synergics Corporation and business groups in the United States and Saudi Arabia, has released a statement announcing that the host of corporate, public and private institutions which are part of its customers in the Middle Read more
Another encouraging step has been taken by King Abdullah University of Science and Technology (KAUST) in its research work to find better performing alternative energy known as the New Energy Oasis (NEO) program. The university will now collaborate with First Read more
Saudi Arabia economy is expected grow by 6 pc in 2012 from 7.1 pc increase posted last year, says the International Monetary Fund in its latest annual review of the world major oil exporter and producer. The private sector will Read more
After signing two different contracts with a US firm and SMS Siemag AC, granting them various roles with different agreements necessary for the accomplishment of an aluminum plant, the Saudi Arabian Mining Company Ma’aden has concluded a third signing with Read more
The Kingdom has signed another contract with the British defense giant BAE to acquire jets. The deal includes a supply of jets to reinforce the Royal Saudi Air force capacities with modern gadgets. The concluded jet deal includes 22 BAE Read more
Saudi Arabia, the world’s major oil exporter & producer, is planning to build a new metro transit system in the capital Riyadh. An international tender has been launched by the Saudi authorities inviting “global consortia” to bid to provide “rolling Read more
Iran is urging citizens to protest against what the members of the Gulf Cooperation Council (GCC) discussed in Riyadh about forming a regional union to enhance economic, political and military coordination. The proposed union is tagged by Iran as a Read more
The high profile summit between member states of the Gulf Co-operation Council (GCC) ended without any agreements being signed. Instead, another summit has been arranged and it will be held in Bahrain in December. The Riyadh summit chaired by the Read more