Business & Money | Monday 13 July, 2015 2:56 am

GOIC: GCC food industries’ investments bordering on 24 billion USD in 2014

The Gulf Organization for Industrial Consulting (GOIC) announced that the number of factories operating in the GCC food industries sector increased from 1606 in 2010 to 1965 in 2014, a compound annual growth rate (CAGR) of 5.2%. During the same period, investments jumped from 13688 million USD to...

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Business & Money | Sunday 12 July, 2015 6:06 pm

Centrepoint opens its 25th store in the Western Region of Saudi Arabia

Centrepoint has recently opened a new store in KSA located in Ibrahim Al Khalil Street in Shouqia-Makkah along with another store in Obhour- Jeddah as well. This marks the retailer’s 25th store in the Western Region. The 3371 sq.mtr. Shouqia store equipped with its Gender Wise Department...

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Business & Money | Sunday 12 July, 2015 2:46 pm

Deloitte: Luxury brands must navigate technology and consumer forces to remain competitive

Global luxury brands should take advantage of evolving technological and consumer demands to help boost profits and remain competitive, according to the 2nd annual Global Powers of Luxury Goods report issued by Deloitte.   The report provides an outlook on the global economy; an analysis ...

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Business & Money | Sunday 12 July, 2015 1:53 pm

JCDecaux ATA Wins the Advertising Contract at the New Prince Mohammad Bin Abdulaziz International Airport in Madinah

JCDecaux SA (Euronext Paris: DEC), the number one outdoor advertising company worldwide, announces today that its subsidiary JCDecaux ATA (held 60% by JCDecaux, 40% by ATA) has won the advertising contract for the new Prince Mohammad bin Abdulaziz International Airport (PMIA) in the city of Madinah ...

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Business & Money | Sunday 12 July, 2015 1:44 pm

MENA M&A Market Stalls, During 2Q2015, Well Behind Its 3-Year Rebound

The MENA M&A market markedly regressed during 2Q2015, well behind its prolonged 3-year revived activity. The overall 12-month activity now falls short from a sustained and marked rebound mainly due to the regional political turmoil which is cited amongst the major factors weighing on investor...

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Business & Money | Sunday 12 July, 2015 1:32 pm

Qatar Airways Migrates Systems to the Ooredoo Data Centre

Ooredoo and Qatar Airways have expanded their strategic partnership, with the national airline moving both its primary and backup data to Ooredoo’s cloud-hosting platform.   As part of the migration, Qatar Airways has moved its systems and infrastructure to the world-class Ooredoo...

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Business & Money | Sunday 12 July, 2015 4:14 am

Taxi fares spiral in Makkah

Taxi fares in Makkah have significantly increased due to the Ramadan rush, particularly at the time when the holy month is coming to an end. Drivers are overcharging those who have come to Makkah to perform Umrah, particularly on the route to and from the Holy Mosque during rush hours, when they...

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Business & Money | Saturday 11 July, 2015 6:16 am

Nitaqat: MoL analyzing market needs

The Labor Ministry has announced that it is currently studying the needs of the market as part of its review of the delayed Nitaqat 3 proposals that would have raised Saudization requirements for companies in the country. Deputy Labor Minister Ahmad Al-Humaidan was quoted as saying in a local...

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Business & Money | Saturday 11 July, 2015 5:18 am

Property prices drop 30%

There has been a drop in property prices by up to 30 percent in some parts of the country, the Housing Ministry reported recently. From the start of the year until May, deals worth SR278 billion were finalized, down 14 percent from the same period last year, a local publication reported...

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Business & Money | Saturday 11 July, 2015 5:14 am

Kingdom issues SR15bn bonds

The Kingdom’s sale of bonds worth SR15 billion to local banks this year was welcomed by Riyadh-based economists on Friday as a strategic move that could reshape its financial markets. While a few state agencies or state-controlled firms have issued bonds in the past few years, the...

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