Saudi contractor MMG appoints new CEO
Saudi construction company Mohammad Al Mojil Group ( MMG ) has appointed Hafiz Shafei as its new chief executive officer, the company said.
Prior to...
Saudi takes steps out of welfare state under King Salman
Faced with a massive decline in oil revenues, Saudi Arabia's King Salman marked his first year in power by taking steps to end his...
UAE energy minister expects oil prices to recover this year
United Arab Emirates Energy Minister Suhail al-Mazrouei said Tuesday he expects a recovery in plummeting oil prices before the end of the year.
“I am...
UAE backs oil producers' output freeze plan
The United Arab Emirates has thrown its support behind a plan involving oil powerhouses Russia and Saudi Arabia to freeze oil production levels in...
Saudi offers $1.5 billion to fund Egypt's Sinai projects
Egypt said on Sunday that Saudi Arabia has offered $1.5 billion to help finance economic projects in the Sinai Peninsula, as Riyadh continues to...
Bad Saudi PR fuels riyal devaluation talk
Speculation that Saudi Arabia could devalue its currency may owe more to a poor public relations effort by Saudi authorities than to the economic...
OPEC fails to agree policy but Saudis pledge no shocks
Saudi Arabia promised on Thursday not to flood the oil market with extra barrels even as OPEC failed to agree on output policy, with...
Kuwait to launch free economic zone on islands
Kuwait has said it will establish a free economic zone on five islands close to the shorelines of regional heavyweights Iraq and Iran with...
SABIC chief expects decision on $30 bln Saudi project in Q2
Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups, expects to make a decision in the second quarter of 2016 on...
Salam app reports over half a million downloads
DUBAI — Salam – Haj & Umrah Guide has surpassed half a million unique installs from 155 countries around the world. During the last...
