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Top Saudi Arabia Business News

سجل أسم نطاقك باللغة العربية
Free services in Saudia-Online RATES OF ARAB CURRENCIES

STC New Financial Guarantee System for expatriates ...

The STC will introduce shortly financial guarantee system for fixed and mobile telephone subscribers. The director general of sales and customer services of the STC, Abdullah Al-Sayer, told the Al-Watan that the new system which would replace the Saudi guarantor system would be applied to a number of categories including expatriates and foreign companies and establishments.

According to him the financial guarantee will be as follows:
1. For fixed telephone services, the guarantee will be SR500 for local calls, SR1,000 for national calls and SR2,500 for international calls.
2. For mobile telephone the guarantee amount will be SR1,000, SR2,500 and SR5,000.

STC urged to launch free Internet service

DAMMAM — The Saudi Telecom Company (STC), who monopolizes the Internet service in the Kingdom, gets SR540 million from this service every month, according to the Internet expert. Internet users in the Kingdom are 600,000 while subscribers are only 300,000. The expert, who requested anonymity, told the Abha-based Al-Watan Arabic newspaper that the number of Internet dial-up users stands as 400,000 with an average use of two hours per one subscriber daily. He urged STC to launch free Internet service as a number of countries started offering this service.

GITEX Saudia 2002 exhibition In April

RIYADH —— Prince Saud Al-Abdullah Al-Faisal, chairman, board of administration of the Riyadh Exhibition Co. Ltd (REC) will hold a press conference on November 26 at hotel Intercontinental to announce the holding of GITEX Saudia 2002 exhibition in Riyadh. The exhibition will be held on April 21-25, 2002. This is the first time that such an exhibition on GITEX computers and related subject will be held in the Kingdom.

The press conference will also be attended by deputy minister of commerce for technical affairs Dr. Fawaz bin Abdul Sattar Al Alami, Riyadh Chamber of Commerce and Industry chairman Abdul Rahman Al-Jeraisy and Dubai World Trade Center director general Waheed Ata Allah.

New member named to SAMBA board

RIYADH, 26 November — The Saudi American Bank has announced that Eisa ibn Mohammed Al-Eisa has been appointed as a member of the board of directors of SAMBA. He replaces Dr. Khalil Kurdi, who resigned from the board recently after a 16-year tenure. Al-Eisa, a prominent banker with vast expertise, is currently the deputy managing director at SAMBA, where he has been working for the last 20 years.
 

Plan for dry port in Madinah

MADINAH, 26 November — Madinah Governor Prince Muqrin on Saturday underscored the importance of the proposed railway expansion project linking various parts of the Kingdom and said it would facilitate transportation of pilgrims and goods. Opening the 44th meeting of the Council of Saudi Chambers of Commerce and Industry here, the governor also revealed the plan to establish a dry port in Madinah. Referring to domestic tourism, he said there are about 4,000 religious, historical and tourist places in the Kingdom, of which nearly 1,000 are in Madinah. (SPA)

Saudia to transport 830,000 pilgrims

JEDDAH, 26 November — Saudi Arabian Airlines signed an agreement in Jakarta on Saturday for the transportation of 151,000 Indonesian pilgrims. The agreement was signed by Dr. Khaled Bakr, director general of the airline, and Dr. Saeed Oqail, Indonesian minister of religious affairs. Saudia has signed another accord with Kuala Lumpur to transport 50,000 Malaysian pilgrims. A press statement said the airline will transport about 830,000 pilgrims from 57 stations around the world this year. (SPA)
 

Saudis to sue for damages

RIYADH, 26 November — A Saudi attorney is currently studying the legal options to sue for damages and defend the Saudi citizens charged with making terrorist attacks in the United States on Sept. 11 and listed among the suspected terrorists while they were outside the United States at that time. He said he received a brief from a Saudi to take legal action against listing his name among the terrorists.
 

Tihama posts SR18.4m profits

JEDDAH, 22 November — Tihama Advertising and Public Relations Company said it has posted profits of SR18.4 million for the financial year ending March 31 and that it will distribute SR9 million in dividends among its shareholders at the rate of SR3 per share. Prince Abdul Aziz ibn Ahmad ibn Abdul Aziz told a shareholders’ meeting in Jeddah that Tihama will undertake important activities over the coming year to generate more profits. He said the advertising market is faced with a lot of challenges as a result of the Sept. 11 attacks on the United States and this requires more effort from the part of the company for its business activities to under the prevailing circumstances. The prince said negotiations are continuing with a number of parties engaged in satellite television in order to pave the way for Tihama to enter into this sector.

Non-oil exports drop 18 percent

RIYADH, 20 November — Non-oil exports from the Kingdom dropped 18.2 percent in September compared to the previous month, according to a report released yesterday.

Official statistics showed that the value of exports, including agricultural, animal, industrial and petrochemical products, dropped to $720 million in September from $880 million in August.

No reason was given for the decline, but it is believed that the Sept. 11 terror attacks in the United States has adversely affected Saudi exports, especially of petrochemical products. The value of oil exports, estimated at $50 billion for 2001, does not figure in the statistics.

Saudi Arabia is the world’s largest oil producer and exporter with a daily output of eight million barrels.

The statistics also showed that Saudi Arabia imported goods worth $1.2 billion in September, taking to $10.9 billion total imports for the first nine months of the year.
 

Domestic tourism set to grow 20%

JEDDAH, 20 November — Hasan Saqr, director general of the Tourism Resorts and Real Estate Company Ltd., says he anticipates that domestic tourism will grow by 20 percent next year thanks largely to the expanding infrastructure in the sector and the difficulties experienced by Saudi tourists following the Sept. 11 attacks. He added that his own company has also been undertaking marketing research with Sheraton hotels in Jeddah, Makkah, and Madinah, and various tourist resorts and villages, during the past three years, and it aims to open new tourist projects in the Kingdom soon.
 

News Headlines.....

SABIC to export 45,000 MT of MTBE to Egypt
28th Nov, 2001
Riyadh  Gears up for the biggest IT event
28th Nov, 2001
Petroleum prices Market watch
28th Nov, 2001
SAMA highlights Saudi economic growth
27th Nov, 2001
King Fahd receives SAMA Annual Report
27th Nov, 2001

Crude oil fell more than 3 percent
26th Nov, 2001
The Italian ambassador has reverted to Islam
26th Nov, 2001
FBI smells anthrax in biryani
26th Nov, 2001

OPEC Chief Calls on Oil Producers to Avert Price `Catastrophe'
24th Nov, 2001
Saudi Arabia Closes Bank Accounts as Part of Inquiry
24th Nov, 2001
Umrah firms closed down for reneging on promises
22nd Nov, 2001
Saudi Sees No bin Laden-Iraq Link
22nd Nov, 2001
U.S. Police chiefs Are Split on Questioning of Mideast Men
22nd Nov, 2001
Oil, gas field discovered near Ghawar
21st Nov, 2001
GIF to sell stakes in seven  joint venture companies to the private sector.
21st Nov, 2001

Move on to bring all expats under social security system
20th Nov, 2001
Saudi Telecom yet to decide share floating
20th Nov, 2001
Saudi Arabia's economy may slip into recession
20th Nov, 2001
Companies Compete to Provide Saudi Internet Veil
19th Nov, 2001
The inaugural ceremony of a seminar on the future of cities
11th Nov, 2001
Saudi flight makes emergency landing in Cairo
8th Nov, 2001
Investment Conference in London
7th Nov, 2001
Minister inaugurates oil conference in Riyadh
6th Nov, 2001
Saudi, Syrian and  Jordanian Ministers signs on Railway project
5th Nov, 2001
Financing institutions provide more than SR274 Billion to help finance citizens' projects
5th Nov, 2001
Saudi Arabia Freeze Funds of 66 individuals on U.S. List
3rd Nov, 2001
SR 285 Billion the total Saudi assistance to the Developing countries from 1973 to 2000
3rd Nov, 2001
300,000 Palestinians jobless, More than 1 million Palestinians are now living under the poverty line of $2.10 a day.
1st Nov, 2001


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05 January 2003 06:20:15 PM