Category Archives: Saudi Arabia

Jadwa Investment Picks New CFO

Jadwa Investment Picks New CFO

Abdulaziz Al-Arifi was appointed to be the new chief financial officer of Riyadh-based Jadwa Investment. The appointment is part of the major investment firm’s expansion, with Al-Arifi being given the responsibility of leading the company’s new business strategy. Al-Arifi has more than ten years of experience working in the financial services sector. He is coming… Continue Reading

WHO Declares MERS Not a PHEIC

WHO Declares MERS Not a PHEIC

After meeting for five hours in an emergency meeting the World Health Organization announced that the new deadly MERS (Middle East Respiratory Syndrome) virus is causing a “significant increase” in concern but does not yet qualify as a global public health emergency- Public Health Emergency of International Concern (PHEIC.) “The committee concluded that the conditions… Continue Reading

Saudi Economy Booming According to SED and Outlook Report

The Saudi Economic Developments and Outlook Report sponsored by the National Commercial Bank states that the economy of Saudi Arabia has continued to grow apace, with a real GDP climbing to 6.8 percent annual growth. The expansion was due both to the oil and non-oil sectors. Per capita income rose to record levels, reaching SR… Continue Reading

Saudis Will Launch Two New Satellites in Next Three Years

Speaking at the Second Annual Saudi International Space and Aeronautics Technology Conference, Prince Turki bin Saud bin Mohammed, the KACST vice president for Research Institutes said that Saudi Arabia is planning on launching two satellites in 2013 and 2015 as part of the country’s space science development strategy. Prince Mohammed said that the SAUDISAT4 and… Continue Reading

World’s Tallest Tower to be Built in Jeddah

In a bit more than five years from now the world’s largest building will be completed in Jeddah, Saudi Arabia. Known as the Kingdom Tower, the plans for the building’s construction by the Kingdom Holding Company were announced in mid-April, 2012 by the KHC’s Chairman Prince Alwaleed bin Talal. Also announced was the increase in… Continue Reading

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… Continue Reading

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… Continue Reading