LATEST ARTICLES

Saudi Arabia kick-starts $50bn renewable energy plan

Saudi Arabia has invited investors to submit requests to qualify for the first round of its $30-$50 billion National Renewable Energy Programme by March 20, it said on Monday. Saudi Arabia is targetting 9.5 GW...

Foster’s showcases Mecca hotel proposals

Practice says luxury development inspired by traditional Arab architecture Foster & Partners has revealed images of its competition-winning proposals for a luxury hotel and serviced-apartment development in Mecca. Senior executive partner Luke Fox said the project,...

Saudi Binladin seeks extension on SAR10 billion Grand Mosque financing

Saudi Binladin Group (SBG) is negotiating with banks an extension of up to two years on a 10 billion riyal ($2.7 billion) Islamic credit facility used to pay for building work at the kingdom’s...

Can Saudi Arabia Survive With Oil Below $60?

With the OPEC production deal holding, at least for the moment, questions have now arisen over how prospects look for the cartel’s biggest producer. It’s been a strange few years for the Kingdom of...

Hyundai offers soft financing for Cairo metro line

South Korea's Hyundai Rotem has entered into a soft financing agreement with the Egyptian Transport Ministry for the development of the Cairo Metro network, said a report. Part of the Hyundai Motor Group, the company...

Some banks baulk at pricing of Dubai’s metro loan

Some banks are baulking at participating in funding an extension of Dubai's metro because the proposed pricing, they say, does not reflect banks' higher costs and the impact of lower oil prices on liquidity,...

Stalled flyover project cuts off residents of Makkah district

MAKKAH – The construction of a flyover in Makkah has cut off Nawariya residents, who now have to travel four kilometers to get across and meet close relatives and friends who live just opposite...

HyperPanda opens its second store in Makkah

PANDA Retail Company has enhanced its presence in Makkah City with the opening of its second HyperPanda store last Jan. 16 at Ibrahim Al-Khalil Street, Kakiya District, bringing the total number of HyperPanda stores...

Haj Metro was on track last season, report finds

MAKKAH: Some 311,000 pilgrims used the Haj Metro last season, with zero technical malfunctions and a high level of satisfaction with the system, an official report has said. Makkah Gov. Prince Khaled Al-Faisal received a...

Saudi govt could shelve $13.3bln in projects in 2017- report

DUBAI, Jan 17 (TRPN) - At least $13.3 billion of government projects are at risk of being cancelled in Saudi Arabia this year due to fiscal pressure and a realignment of government priorities, consultants...