Input your search keywords and press Enter.

Business

K.S.A HOTEL CONSTRUCTION PIPELINE

According to a recent report: “Saudi Arabia Hotel Construction Overview” by TopHotel Projects almost 60 percent of Saudi Arabia’s current construction pipeline of 143 hotels is forecast to open in 2018. Released ahead of the Hotel Show Saudi Arabia last April, the report revealed that 84 hotels comprising 27,281 rooms…

SAUDIA WINS TWO AWARDS AT ATM

Saudi Arabian Airlines (SAUDIA) won two awards at this year’s Arabian Travel Market (ATM), the Middle East’s largest travel trade event, which took place from April 22-25 at the Dubai International Convention Center. An independent panel of judges from the ATM organizers selected SAUDIA for the “Best Stand Personnel” award.…

SAUDI ARABIA’S RECORD $17.5 BILLION BOND ISSUE

Saudi Arabia’s record $17.5 billion bond issue Saudi Arabia conducted the largest-ever emerging market bond sale last month, selling $17.5 billion of debt in the government’s first international offer while attracting investor orders totalling almost four times that amount. Reuters attributed the huge demand, larger than many market participants had…

THE GCC CORPORATE BOND MARKET

According to a report by ratings agency S&P, the GCC’s corporate and infrastructure bond (sukuk) market remained subdued in the first half of 2018 while GCC corporate and infrastructure bond issuers raised over $7.6 billion in 2017, the market was subdued in the first half of 2018. Five issuers raised…

A MILLION PASSENGERS IN TEN MONTHS

On July 23rd, only ten months since Saudi Arabia’s low-fare domestic carrier, Flyadeal, was launched, the airline celebrated a major milestone with its one millionth passenger. Hours before the arrival of the millionth passenger at Riyadh’s King Khalid international airport, airline representatives roamed the terminal carrying a sign that read…

K.S.A. FIRST QUARTER BUDGET STATEMENT

A May 2018 report by Jadwa Investment says the Saudi government’s 2018 first quarter budget statement shows the government’s efforts to raise non-oil revenue are beginning to work. Revenue Total government revenue totaled SAR 166 billion ($44.27 billion) in Q1 2018, an increase of SAR 22 billion ($5.87 billion) or 15 percent year-on-year.…

SAUDI ARAMCO-PETRONAS JOINT VENTURE

Saudi Aramco and Petroliam Nasional Berhad (Petronas), the national oil company of Malaysia have unveiled the names of their two joint ventures in the Pengerang Integrated Complex (PIC) located in Pengerang, Johor, Malaysia.  Subject to regulatory approvals, the joint ventures will be operated under the names Pengerang Refining Company SdnBhd (PRefChem Refining) and Pengerang Petrochemical Company SdnBhd (PRefChem Petrochemical),…