IMF cuts Saudi Arabia’s growth forecast on lower oil output

The International Monetary Fund (IMF) on Monday lowered its growth outlook for Saudi Arabia on back of lower oil production and capital spending. In its World Economic Outlook report update, the IMF said gross domestic...

Saudi Arabia’s strict religious rules cost its economy tens of billions every year

When I lived and worked in Saudi Arabia as a lawyer from 2010 to 2012, I spent a lot of time waiting outside restaurants. Not because I really like food, or had a fetish for...

ASELSAN to operate in Saudi Arabia

In partnership with Saudi Technology Development and Investment Company (TAQNIA DST), Turkey's ASELSAN (Military Electronics Industries) have established SADEC LLC (Saudi Defense Electronics Company), a company with a total equity of nearly $6 million. A...

South Korea’s Hyundai Rotem offers soft financing for Cairo metro line

South Korean Hyundai Rotem, part of the Hyundai Motor Group, is offering the Egyptian government a soft financing designated to purchase 64 new trains for Cairo Metro’s third line. Egyptian Minister of Transport Galal al-Saeed...

Saudi Arabian Airlines budget unit Flyadeal to fly leased Airbus A320s

Saudi Arabian Airlines’ budget carrier Flyadeal will lease six Airbus A320s, an Airbus executive said on Monday, a sign that the European planemaker might again have pipped Boeing in the race to win a...

General (retd) Raheel Sharif arrives in Makkah

MAKKAH: Former army chief General (retd) Raheel Sharif was due to arrive in Makkah to perform Umrah on Monday, according to reports. Gen Sharif, who passed the baton of command to General Bajwa on November...

Makkah governor inaugurates SR1.2bn worth of development projects

EDDAH: Prince Khaled Al-Fasial, governor of Makkah and adviser to King Salman, inaugurated development projects worth almost SR1.2 billion ($320 million) during his visit on Thursday to Al-Kamel and Khulais provinces. Four of the projects...

Makkah crane crash operators lacked basic skills

Human error was allegedly to blame for the crane that fell and killed more than 100 people in Saudi Arabia ahead of the hajj pilgrimage in the holy city of Makkah in 2015, the...

Greenville artist among mecca of culture ‘hidden’ in Greenville

Michael Del Priore is known around the country for his portrait paintings of prominent people – members of Congress, Supreme Court justices, physicians, educators and such like. He’s an award-winning artist who has been featured...

Mecca metro contract awards expected in 2016

Contracting bids for the first phase of the Mecca metro project have been technically and financially evaluated, Abdullah al-Marshad, deputy CEO of the Makkah Mass Rail Transit Company (MMRTC) said during the MENA Rail...