Business & Money | Saturday 5 March, 2016 7:59 am

Gold holds steady after 20% surge in 2016

Gold held onto the previous session’s 2 percent gains on Friday as strong underlying investment demand helped prices rebound from a sharp drop in the wake of forecast-beating US payrolls data. Earlier gold hit its highest in 13 months, having been driven up nearly 20 percent this year by...

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Business & Money | Saturday 5 March, 2016 5:11 am

Boeing: 71 years of partnership

The Boeing Company enjoys a strong and long-standing relationship with the Kingdom of Saudi Arabia. It is a partnership that began on Feb. 14, 1945, when US President Franklin D. Roosevelt presented a DC-3 Dakota airplane to King Abdulaziz Al-Saud. This event marked both the beginning of the...

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Business & Money | Saturday 5 March, 2016 5:04 am

ARGAS lays foundations for a successful future

ARGAS, the Arabian Geophysical and Surveying Company, recently celebrated its first 50 years of success with an eye firmly on the future, as it laid the cornerstone of its new Center for Research and Development in the Dhahran Techno Valley, in the Eastern Province of Saudi Arabia. The ceremony...

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Business & Money | Friday 4 March, 2016 10:28 am

Saudi housing sector in transitional phase

Saudi Arabia’s housing sector is currently in a transitional phase due to changes in the mortgage law and taxes, industry experts said at Jeddah Economic Forum (JEF) 2016 on Thursday.  Speakers at a panel discussion on housing at the forum said they are anticipating the market dynamics...

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Business & Money | Friday 4 March, 2016 10:19 am

Housing Ministry, GACA sign cooperative pact

The Ministry of Housing and the General Authority of Civil Aviation (GACA) have signed a Memorandum of Understanding (MOU) for increasing cooperation between the two entities. The agreement for joint cooperation was signed on Thursday between Housing Minister Majed Al-Hogail and GACA President...

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Business & Money | Friday 4 March, 2016 10:00 am

KSA marks World Wildlife Day

Saudi Arabia joined the rest of world in observing the United Nation’s World Wildlife Day on Thursday to foster awareness among citizens and residents to protect and conserve biodiversity. World Wildlife Day is observed every year on March 3 to celebrate and raise awareness of the...

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Business & Money | Friday 4 March, 2016 9:53 am

AUB Acquires 40% shares of MEFIC Capital

Ahli United Bank Group (AUB), a pan GCC Banking group, has obtained the necessary regulatory clearances to acquire 40% shares of Middle East Financial Capital (MEFIC Capital) a leading investment company operating under the Capital Market Authority of Saudi Arabia. With this acquisition, AUB...

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Business & Money | Thursday 3 March, 2016 1:24 pm

Innovation during low oil price environment has huge potential

While there are challenges associated with a low oil price environment, companies in the GCC’s petrochemical industry must use the current headwinds as an opportunity to evolve, advised experts at the Research & Innovation Conference in Dubai, hosted by the Gulf Petrochemicals and...

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Business & Money | Thursday 3 March, 2016 11:42 am

Top GCC Brands Recognized at the 2016 Food and Travel GCC Awards

The inaugural ‘2016 Food and Travel GCC Awards’ was held on Monday February 29, 2016 in the Kingdom of Bahrain in the presence of internationally acclaimed chefs and restaurateurs.    The glittery ceremony, held at the Ritz Carlton Hotel Bahrain, was organized by the...

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Business & Money | Thursday 3 March, 2016 7:34 am

Turkey open to further investments from Saudi Arabia, says ŞimŞek

Saudis are now investing $15 billion in Turkey, said Turkish Deputy Prime Minister Mehmet Şimşek, adding that they are seeking to double this amount in the near future. The major investment sectors are power, telecommunications and real estate, with the former adding up to $6 billion investment....

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