Business & Money | Saturday 9 January, 2016 3:57 am

Taqat brings 47,737 Saudis into labor market

The extensive efforts exerted by the Human Resource Development Funds (HADAF) in cooperation and partnership with the private sector has resulted in the direction of a total of 47,737 young male and female Saudis into certain fields and specialties required by the national labor market. The...

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Business & Money | Saturday 9 January, 2016 3:40 am

Saudi Aramco confirms share listing deliberations

Saudi Aramco has confirmed it is considering a stock market flotation in what would probably create the most valuable listed company in the world. The company says it has been studying various options to allow broad public participation in its equity through the listing in the capital markets of ...

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Business & Money | Friday 8 January, 2016 2:59 pm

Aramco stops bus service

Saudi Aramco has decided to stop transporting its staff to work from Qatif after one of its busses was attacked by four armed men and set alight on Tuesday in Qatif. A letter was sent to the staff by the company stating the following: "This is to inform you the company will stop providing the ...

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Business & Money | Friday 8 January, 2016 2:08 pm

833 Saudi engineers working on Riyadh Metro

A total of 833 Saudi engineers have joined the $22 billion Riyadh Metro project since construction started more than a year ago. They are in charge of various engineering, technical and administrative work on Riyadh Metro and its components across the Saudi capital. Riyadh metro, which is also...

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Business & Money | Friday 8 January, 2016 2:05 pm

Riyadh governor opens new AOU campus

Riyadh Gov. Prince Faisal bin Bandar inaugurated here Wednesday night the Kingdom’s new campus of Arab Open University, a project of the Arab Gulf Program for United Nations Development Organizations (AGFUND).  He inaugurated the campus on behalf of Prince Talal bin Abdulaziz,...

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Business & Money | Thursday 7 January, 2016 12:56 pm

Emirates NBD Saudi PMI™ for December 2015

 Saudi Arabia’s non-oil private sector suffered a loss of growth momentum at the end of 2015, with business conditions improving at the weakest pace in the survey’s history. Weighing on the sector were slower expansions in output, new orders and employment. Staffing levels, in...

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Business & Money | Thursday 7 January, 2016 12:38 pm

520 exhibitors Participate in the 2016 Saudi Plastics and Petrochem Show

The increasing petrochemical and plastics projects has positioned this sector as the largest non-oil sector in the Kingdom, with a recorded growth of 5.3% for the current year. Saudi Arabia alone produces nearly 7 per cent of the global petrochemical output, on the List the largest exporter in the...

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Business & Money | Thursday 7 January, 2016 5:24 am

Saudi Aramco signs deal to build employee homes

Saudi Aramco has signed a second contract to build homes for its employees, the state-owned oil company said in its weekly magazine The Arabian Sun. The contract to build 791 homes is part of plans to build more than 8,000 homes in total, as well as schools and community facilities. The new...

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Business & Money | Thursday 7 January, 2016 2:45 am

Deloitte: Tax reform in the GCC approaching

Tax reform in the Gulf Cooperation Council (GCC) region is a matter of when, not if, and Saudi Arabia is not immune. The Kingdom, one of the leading economies in the region, and a member of the G20, is committed to the Base Erosion and Profit Shifting (BEPS) initiative and Organization for Economic ...

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Business & Money | Wednesday 6 January, 2016 5:22 pm

SWIFT announces 10% rebate on 2015 messaging

SWIFT announces a 10 percent rebate on 2015 messaging fees, returning approximately EUR32 million to SWIFT users around the world. The rebate will be paid in March 2016. “This year’s rebate is a reflection of SWIFT’s continued commitment to the global banking community,”...

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