Over SR2 billion is going to be invested in the creation of two private medical cities by the Doctor Sulaiman Al-Habib Medical Group. The first city will be situated in north Riyadh and will have 500 beds and will cost SR1.5 billion. The second medical city will cost SR 800 million and will be equipped…
Category Archives: Saudi Arabia
Safari Land Development Under Way in Riyadh
An agreement was signed last week between the real estate development company Dar Al Arkan and the investment and real estate development company Al Othaim. The agreement is a 15 year lease for a 10,963 square meter space in the Alqasr Mall which was developed by Dar Al Arkan in Riyadh City, Saudi Arabia. Al…
Profits Increase by 22 Percent at the Arab National Bank
The Arab National Bank of Saudi Arabia announced net profits for the fourth quarter of 2011 and the entire year, posting overall growth of 22 percent and 13.6 percent, respectively. The net profits for the fourth quarter of 2011 were SR 368 million. In 2010 profits totaled SR 301, which represents an increase of…
Indian and Saudi Business Leaders Meet
In an effort to improve the trade relationship between India and Saudi Arabia, a thirteen-member delegation of Indian business leaders met a group of influential executives from Saudi Arabia on Saturday. Great Chance For Investment The Secretary-General of the Asharqia Chamber of Commerce, Abdulrahman A. Al-Wabel, was among the Saudi business leadership at the summit….
Accenture Acquires Major Saudi IT Firm
Two major Middle East players have joined forces with the aim to strengthen their IT effectiveness in the fast-growing region in which they inhabit. Accenture, which specializes in management consulting, technology and outsourcing, acquired a majority of one of Saudi Arabia’s leading information technology companies, Al Faisaliah Business & Technology Company (FBTC.) FBTC is a…
Oil Prices Predicted to Rise as Saudis Indicate They Will Not Increase Supply
No Extra Oil to Asia Data supplied by Bloomberg points to rising prices of crude oil from the Middle East to Asia as Saudi Arabia sends hints that it will refrain from selling extra supplies to refineries there. Two grades of crude, Murban and Qatar Marine posted rises in their prices for September loading of…
Egypt to Borrow $4 Billion from Saudi Arabia
Tantawi Announces Loan from Saudi Allies Field Marshal Mohamed Hussein Tantawi of Egypt told the official Egyptian press agency, MENA on Saturday that Saudi Arabia will lend Egypt emergency monies in the amount of $4 billion. Tantawi, who is the head of Egypt’s ruling military council said, “The $4bn will be distributed in the form…
Gulf State Markets Continue to Rise
Regardless of the news or violence and tension coming out of the greater Middle East region, trading on the Gulf State Arab markets seem to be doing just fine, if the new highs reached last week can be any indication. Saudi Arabia companies posted positive first quarter earnings pushing the markets up, while the petrochemical…
News from Libya, Egypt and Saudi Arabia
Libyan Rebels Retake Brega With air support from the United States and its allies Libyan rebels have made major progress across Libya—taking the centrally located city of Ajdabiya, recapturing the eastern city of Brega and making steady advances towards the important oil depot of Ras Lanuf. Warplanes from the west have been bombarding the strongholds…
Six Dead in Bahrain as Soldiers Evict Protesters from Pearl Square
Six are reported dead as troops and riot police used tear gas and other force to evict hundreds of demonstrators from their vigil in Pearl Square in the capital city of Manama, Bahrain. This action came after just one day of emergency rule which had been imposed on the violent-stricken kingdom. Assault Began at Daylight…
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Independent Middle East News
- Ankara Fears Increased Kurdish Resistance February 18, 2012by Mahmoud Abu Ghosh According to an intelligence report released Friday, Turkey’s military fears Kurdish resistance will increase in 2012, following months of the Turkish Arned Forces (TSK) brutally suppressing Kurdish rebels and their supporters. According to the report, the Kurdistan Workers’ Party (PKK) announced it will start conducting raids from the a […]
- Kurds Mark 13 Years Since Öcalan’s Capture February 16, 2012by Mahmoud Abu Ghosh People throughout Turkish-occupied northern Kurdistan marked 13 years since the imprisonment of Abdullah Öcalan, founding leader of the outlawed Kurdistan Workers’ Party (PKK). The anniversary was observed Wednesday with protests and business closures. Some PKK sympathizers in the Kurdish city of Hakkari were also reported to have thrown […]
- Turkish Jets Pound Kurdish Region February 12, 2012by Mahmoud Abu Ghosh Turkish warplanes have bombed several targets in the semi-autonomous Kurdish region in northern Iraq, Ankara’s military revealed Sunday.In the second cross-border airstrike in just over a week, the jets hit caves and other suspected rebel shelters in the Zap and Hakurk regions in an operation that began late Saturday, an army […]
- Turkey Kills 13 Kurds in Overnight Clashes February 9, 2012by Mahmoud Abu Ghosh Turkish forces killed 13 Kurdish rebels in occupied northern Kurdistan overnight, marking an escalation in violence at a time when winter weather generally limits clashes. Resistance fighters from the Kurdistan Workers’ Party (PKK) attacked some 10 different Turkish military targets at roughly 2:30am in Hakkari province, Turkish sources […]
- Egypt Defies US Demands February 8, 2012by Naama Ben-Yaakov Cairo announced Wednesday that it would not be swayed by American threats to cut off the aid Egypt receives from the United States when investigating foreign-funded organizations promoting Western interests, a case that has prompted Washington to warn that US military support worth an annual $1.3 billion may be in jeopardy. The US wants [ […]
- Ankara Fears Increased Kurdish Resistance February 18, 2012