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Top Saudi Arabia Business News

RATES OF ARAB CURRENCIES Free services in Saudia-Online
King Faisal Hospital to organize Electronic Health Conference
30th April 2001
The Kingdom’s economic policies
30th April 2001

KACST to block 200,000 new Internet sites
29th April 2001
US consortium wins license to build 3,000 schools

29th April 2001
THE CONFERENCE OF THE ARAB BANKING FEDERATION BEGAN HERE ON SUNDAY ITS DELIBERATIONS
29th April 2001
CROWN PRINCE EXEMPTS FEES AND FINES FOR CARS WITH
OLD NUMBER PLATES
29th April 2001
TOURISM IN THE KINGDOM HIGHLIGHTED
29th April 2001
Kingdom’s efforts to combat economic crime
26th April 2001

Aramco renews foreign investment

Saudi Aramco president Abdallah Jum'ah told a gas conference at Yanbu that Aramco's refining assets can be viewed as significant pre-investment platforms supporting appropriate refinery based petrochemicals and fuels facilities. Reuters reported that he said many of Aramco's refineries and gas plants will be building power and steam co-generation facilities to optimize fuel consumption, thus offering further investment opportunities.
April 22nd, 2001


Saudi master gas system update

Saudi Arabia's master gas system is on schedule with the Hawiyah facility due to come on stream in December, Saudi Aramco officials told Reuters yesterday. Site preparation has also started on the Haradh plant scheduled to begin production in December 2003. The MGS has three large processing plants which produce 4bn cfd, and that production will rise to 7bn cfd by 2003.
April 19th, 2001


 Prince Al Waleed avoids stocks

Saudi Arabia's most famous investor, multi-billionaire Prince Al Waleed bin Abdulaziz bin Talal Al Saud is staying out of the stock market. He told Bloomberg the market was too turbulent, and that he will wait until things have stabilised. His portfolio is now worth USD20bn against a peak of USD23bn, and the Prince has lost a fortune on Internet shares in the past year.
April 19th, 2001

Saudi British Q1 profits up

The Saudi British Bank reported an 11.3 per cent rise in first quarter profit to USD52.27m. MD David Hodgkinson said that preliminary indicators of a slowdown in the global economy had not affected the local economy as business transactions remained stable.
April 19th, 2001

Saudi sees WTO bid progress

Saudi Arabian commerce minister Osama bin Jaafar Faqih said the Kingdom was making progress in its bid to join the World Trade Organization, but blamed delay on a lack of clear rules, reported Reuters. He added that intensive negotiations were taking place to arrive at a package of rights and obligations which is balanced and beneficial for the current and future economic needs of Saudi Arabia. The Kingdom has been negotiating to join since 1993.

April 19th, 2001

UK approves Samba Islamic products

UK regulators have approved the distribution of Samba Islamic Investments in a move which will allow the largest Saudi Arabian bank to bring its products to the market more quickly, reported arabia.com. Samba's Islamic Global Equity Fund was launched in December 1999, and aims for long term growth by investment in Shariah compliant stocks around the world. In its first year the Fund outperformed the Dow Jones Islamic Market Index by 1.5 per cent.
April 16th, 2001

Exxon may take two Saudi deals

ExxonMobil appears to have secured a lead role in two of the Saudi Arabian gas mega projects for foreign investment, reported Reuters. Considerable speculation now surrounds the awards expected to be announced within the next few weeks, and last week it was BP Amoco that was
rumored to have secured a pole position.
April 16th, 2001

SABIC declares USD355m dividend

The largest non-oil company in the Middle East, Saudi Arabian Basic Industries Corporation, has agreed to distribute a USD355m dividend for the year 2000, up from USD143m in 1999, reported Reuters. Sabic is also making a 1:8 bonus share issue. In February Sabic announced a USD1bn profit for 2000, up 112 per cent on 1999.
April 16th, 2001

Expatriate workers  pump out SR70b annually

Expatriate workers in the Kingdom repatriate more than SR70 billion annually, according to Ahmad Al-Mansour, undersecretary at the Ministry of Labor and Social Affairs.

He urged government and private sectors to take measures to prevent this heavy drain of capital by increasing the level of Saudization, Al-Jazira newspaper reported yesterday. 
14th April 2001


International Day for Protection of Intellectual Property Rights
25th April 2001
Health Ministry statement on meningitis cases during Hajj season
25th April 2001
Al-Naimi delivers speech at the Oil Summit Conference
25th April 2001
Symposium on investment in the Kingdom opens in Brussels
25th April 2001
Foot and Mouth Disease weekly report
24th April 2001
Proposal for Energy Forum permanent secretariat welcomed
23rd April 2001
PRINCE ABDULLAH BIN FAISAL ARRIVES IN BRUSSELS
23rd April 2001
AGRICULTURAL DEVELOPMENT
23rd April 2001
Chrysler Mid East first quarter sales up 34 per cent
22nd April 2001
Kingdom can’t open market to banned goods
22nd April 2001
Seven million Expats send out SR70b a year
22nd April 2001

FedEx Appoints New Managing Director of Sales for the Middle East, Indian Sub-Continent And Sub-Sahara Africa Region

22nd April 2001
Largest Education Show in the region opens in Dubai this week

22nd April 2001
Xerox DocuCruise launches today in Dammam
21st April 2001

PLANNING MINISTER RECEIVES SOUTH KOREAN AMBASSADOR AND EUROPEAN COMMISSIONER
21st April 2001
MINISTER OF COMMERCE MEETS EU OFFICIAL
21st April 2001
GCC MONETARY AGENCIES AND BANKS' GOVERNORS HOLD MEETING

21st April 2001
Saudi-Jordanian electricity project
19th April 2001
MEETING OF THE COMMITTEE OF THE GOVERNORS OF MONETARY AGENCIES AND CENTRAL BANKS IN THE GCC ON SATURDAY.

19th April 2001
Local Press Comments
19th April 2001
PRINCE NAIF ADDRESSES PRESS CONFERENCE IN TEHRAN
18th April 2001
KING FAHD APPOINTS AL-BARAHIM TO CABINET POST
18th April 2001
"Partnerships with oil giants to trigger growth" Naimi
18th April 2001
Kingdom allows first leasing firm
18th April 2001

SAUDI ARABIA AND IRAN SIGN SECURITY PACT
18th April 2001
GCC POSTAL SYMPOSIUM TO BE HELD IN DUBAI
18th April 2001
ARAB FINANCIAL BODIES START JOINT MEETING
18th April 2001
PRINCE SULTAN HAS SIGNED TWO CONTRACTS FOR SETTING UP AND DEVELOPMENT OF AIRPORTS

18th April 2001
PRINCE SALMAN BIN ABDULAZIZ PATRONIZED THE ANNUAL MEETING OF BUSINESSMEN

18th April 2001
New package of incentives for mobile phone users

17th April 2001
IDB LENDS $50 MILLION TO MOROCCO
17th April 2001
Al-Muallemi named new Jeddah mayor
17th April 2001
JORDANIAN DELEGATION LEAVES FOR RIYADH
17th April 2001
Ministry steps up drive against copyright violations
17th April 2001
OPEC OIL PRICE INCREASES TO24.65 U.S. DOLLARS A BARREL
17th April 2001
Saudi investment accounted for 30 percent of all Arab investments in Egypt
17th April 2001

PRINCE SALMAN OPENS JOINT MEETING OF ARAB FINANCIAL BODIES

17th April 2001
The Kingdom’s imports rose eight percent in 2000
17th April 2001
ExxonMobil tipped to secure top role in gas deals

16th April 2001
SABIC to disburse SR1.33b in dividends
16th April 2001
MoU signed to promote Saudi-Indian cooperation
16th April 2001
Hundreds flock to IT show
16th April 2001
PRINCE SULTAN BIN SALMAN OPENS THE EXHIBITION OF ENVIRONMENTAL AWARENESS
14th April 2001
PRINCE ABDEL-RAHMAN LEADS THE SAUDI DELEGATION
14th April 2001
THE FOURTH CONFERENCE ON THE DEVELOPMENT AND INTEGRATION OF THE PETROCHEMICAL INDUSTRIES IN THE ARAB COUNTRIES
14th April 2001
SYMPOSIUM ON THE HEALTH ECONOMIES

14th April 2001
Local Press Review
14th April 2001


Arab Economic Unity Council close to financial collapse

The Arab Economic Unity Council, the driving force behind the Arab Common Market, may collapse because of a financial crunch caused by a reduction in its budget, non-payment of dues by some members and the pullout of Kuwait and the UAE.
9th April 2001


Saudi Arabia aim to cut software piracy by 20pc this year
12th April 2001
MWL reconsidering partnership deal with construction company
12th April 2001
Al-Massaiya daily to close down

12th April 2001
UAE institutes take part in Gulf Education and Training Exhibition

12th April 2001
TEKLA Establishes Regional Operations
12th April 2001
Meat importing regulations
11th April 2001
Natural gas is quietly stealing the spotlight in the multi-billion dollar race for cash

11th April 2001
Intel campaigns for elimination of import duties

11th April 2001
Crude ends sharply up on U.S. gasoline fears

11th April 2001
Security accord to strengthen Saudi-Iran ties

11th April 2001
Indian trade mission to visit the Kingdom

11th April 2001
SR175.79 million net profit posted by Saudi Cement Company

11th April 2001
Acquisition of land for the proposed railway expansion project

11th April 2001
Aramco renews contract with Chinese company
10th April 2001

SABIC RECEIVES PRIZE OF BEST ENVIRONMENTAL RESEARCH NEXT WEEK

10th April 2001
CAIRO ECONOMIC CONFERENCE POSTPONED
10th April 2001
MINISTRY OF COMMERCE HOLD MEETING ON E-TRADE

10th April 2001
FOOT AND MOUTH DISEASE WEEKLY REPORT ISSUED

10th April 2001


Aramco closes Ras Tanura unit

Aramco is shutting down its 44,000 bpd hydro cracking unit at the Ras Tanura refinery until June or July for essential maintenance, reported Reuters. The loss of supply may affect prices in Asia, said traders. The hydro cracker is part of a USD1.5bn upgrade and has been shut down several times before.

8th April 2001


49,320 export certificates issued by Ministry of Commerce
9th April 2001
$750 million to create Cornell University branch campus in Qatar that  "would accept Jews — and even Israelis — as faculty members and students."
9th April 2001
Dubai scholars declare Pokemon unislamic
9th April 2001
Arab Economic Unity Council close to financial collapse
9th April 2001

GCC's Car sales begin to revive after two difficult years
9th April 2001
DaimlerChrysler Vehicle sales are forecast to hit 25,000 units

8th April 2001
Al-Hokair Group will implement Tourism projects in Saudi Arabia
8th April 2001
Arab trade 'hinges on higher regional production'
8th April 2001


Banque Libanaise, USD82.6m loss

Banque Libanaise pour le Commerce recorded a USD82.6m loss in the year 2000, and provided no comparable figure for 1999. The Bank said it would break even this year. Chairman Michael Rouaihab told Reuters the priority was to liquidate USD100m in real estate assets and raise the Bank's capital form USD27m to meet regulatory requirements. Last year a group of Arab investors acquired control of the Bank, and uncovered a worse financial situation than they had thought.
April 8th, 2001



Apicorp posts USD30m dividend

The Arab Petroleum Investment Corporation has announced a total USD30m dividend for the year 2000, against USD25m in 1999. The Saudi based group posted a 16 per cent rise in profit to USD40.4m, and an increase in project and trade finance loans from USD680m to USD851m. Apicorp is jointly owned by Saudi Arabia, Iraq, UAE, Qatar, Bahrain, Syria, Egypt, Libya, Algeria and Kuwait.
April 8th, 2001

SAUDI COMPANY TO ORGANIZE EXHIBITION ON TOURISM   
7th April 2001
Two policemen sentenced to five months’ in jail 
7th April 2001
ARAB LABOR MINISTERS RESUME MEETING
7th April 2001
 
Forum in Riyadh to bring together Saudi inventors 
7th April 2001
  
 “Over the next few years, a total of 560 Arab banks will upgrade their IT systems with online banking and e-security high on the agenda."
7th April 2001
ASSEMBLY OF ARAB TRADE PROGRAM TO HOLD 12THSESSION
7th April 2001
GCC SEMINAR ON PRIVATE SECTOR
7th April 2001

FINANCIAL BODIES START CONFERENCE IN DOHA
7th April 2001
Exporters vie for supremacy in Saudi rice market
5th April 2001
$986 million contract for marking border signed
5th April 2001
Platts faces challenge from online traders
5th April 2001
BP may clinch surprise deal in Saudi gas venture
5th April 2001
Rules for formation of Kingdom's Labour Committees welcomed
5th April 2001

SR73m water contracts to be signed
4th April 2001
Saudi Cable and Lucent settle row
4th April 2001
Arabian Gulf clean tanker rates plumb new depths

4th April 2001
Recent blasts blown out of proportion, Naif says
4th April 2001

Asian oil markets little to offer any upside potential

4th April 2001
New cases of FMD detected at 67 sites
4th April 2001

Saudi cleric issues fatwa against Kuwaiti singer

4th
April 2001
Contract awarded for SR26m Qassim poultry project
4th April 2001
King Fahd makes new appointments
3rd April 2001
SFD delegation holds talks with Moroccan Minister
3rd April 2001
Saudis confirm missing Canadian is held
3rd April 2001
Online Islamic brokerage firm went live yesterday
3rd April 2001
SFD DELEGATION HOLDS TALKS WITH MOROCCAN MINISTER

3rd April 2001
SAUDI-SENEGALESE COMMITTEE STARTS SECOND SESSION

3rd April 2001
APICORP HOLDS MEETING

3rd April 2001
ARAB MINISTERS OF ELECTRICITY MEETING

3rd April 2001
Increase in home ownership in Riyadh
2ed April 2001
Water and sewage projects in Riyadh
2ed April 2001
Saudi antiquities returned to the Kingdom
2ed April 2001

Saudi aid to Palestinians

1st April 2001
Saudi Government education and manpower training Budget for 2001 to reach US$14.21 billion 

1st April 2001

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