Business & Money | Sunday 20 December, 2015 11:49 am

GE Oil & Gas signs contracts with Petroleum Development Oman (PDO)

GE Oil & Gas (NYSE: GE) has won two contracts from Petroleum Development Oman (PDO) for the supply, testing, installation and commissioning of a fleet of electric motor driven centrifugal compressors to be deployed across PDO’s Saih Nihayda Depletion Compression Phase II, Kawther...

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Business & Money | Sunday 20 December, 2015 4:52 am

Schweitzer opens 3rd office in Saudi Arabia

SCHWEITZER Engineering Laboratories is expanding its presence in Saudi Arabia with the opening of an office in Jeddah. The new location will serve customers in the western region of the country. SEL also has offices in Al-Khobar and Riyadh. “As Saudi Arabia diversifies its economy beyond...

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Business & Money | Sunday 20 December, 2015 4:27 am

King Abdullah Economic City signs SR42 Million contract with Salim Al Harth to develop Beach Community 3

King Abdullah Economic City (KAEC) has contracted Salim Al Harth Establishment to develop the infrastructure for the Beach Community 3 development at the city. The contract is worth SR42 million.   Under the terms of the contract Al Harth will develop all the underlying infrastructure...

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Business & Money | Sunday 20 December, 2015 2:54 am

Unite on labor issues: KSA to GCC nations

Deputy Minister of Labor Ahmad Al-Humaidan has emphasized the need for consensus and a unified vision regarding labor issues between Saudi Arabia and other GCC countries.  The Saudi Ministry of Labor (MoL) has launched major efforts to adjust the labor market by building mechanisms to ensure...

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Business & Money | Saturday 19 December, 2015 12:21 pm

Aramco announces three new veeps

The Board of Directors of the Saudi Arabian Oil Company (Saudi Aramco) has made the following appointments, effective Jan. 1, 2016: Mohammed Y. Al Qahtani, senior vice president, upstream; Ahmad A. Al Sa’adi, senior vice president, technical services; and, Muhammad M. Al Saggaf, senior vice...

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Business & Money | Saturday 19 December, 2015 12:14 pm

Low oil prices won’t hit assistance to Egypt

 Saudi Ambassador to Egypt Ahmad Al-Qattan said Thursday that low oil prices will not prevent the Kingdom from supporting the Egyptian economy. He said the Saudi support would help ease an acute dollar shortage and reduce pressure on the Egyptian government's budget. "The...

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Business & Money | Saturday 19 December, 2015 12:12 pm

Riyadh Metro 26% complete

Seventy-four percent of the main stations of Riyadh Metro are complete. Riyadh Gov. Prince Faisal bin Bander said that the difficult stages in the project have been overcome and work done can now be seen on the surface. He was speaking 30 meters below ground during a fact-finding visit to the...

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Business & Money | Saturday 19 December, 2015 12:29 am

Deloitte: Growth potential for Islamic Sukuk financing in Europe

The gap between the spending needs of developing countries and the pressure on financial institutions to carefully monitor their credit exposure in order to optimize their capital management driven by regulatory constraints on solvency, is creating opportunities for more diversified products of...

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Business & Money | Friday 18 December, 2015 5:16 am

Amana Capital Announces the Addition of Variable Spreads to Its Trading Products

Amana Capital, the leading Middle Eastern financial services group specialized in online trading and consultancy services, announced today the addition of Variable Spreads to the group's trading products on the MetaTrader 4 Platform.     ...

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Business & Money | Friday 18 December, 2015 4:43 am

Colors of Saudi Arabia stun VIP visitor

The Saudi Colors Forum 2015 greatly impressed South African Tourism Minister Derek Hanekom who, after touring the pavilions at the ongoing fourth edition at the Riyadh International Convention and Exhibition Center, expressed his deep admiration, saying: "I am amazed to see the Kingdom’s ...

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