Economy

Riyadh Gov. Prince Khaled bin Bandar has stated that the private sector (PS) is an effective partner in development as a key pillar of the national economy, representing 95 percent of the size of the...
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Sony cuts 5,000 jobs, exits PC business

TOKYO: Sony warned that it would book a $1.08 billion annual loss as it cuts 5,000 jobs and exits the stagnant PC market this year, as the once-mighty electronics giant struggles to reinvent itself in



Top Saudi date producers join Berlin fair

The German-Saudi Arabian Liaison Office for Economic Affairs (AHK Saudi Arabia) organized the trip of high-ranking Saudi-Arabian businessmen to this years’ Fruit Logistica trade fair in Berlin.



Twitter takes hit as user growth disappoints

SAN FRANCISCO: Twitter has got a reality check as the high-flying messaging company reported modest user growth during a quarter in which it lost $511 million.



Tim Cook: Apple keen to bring its passion to Saudi Arabia

In his first trip in the region, Tim Cook, CEO of Apple, made a historic stop to the UAE and held a meeting with Ahmad Julfar, CEO of Etisalat Group, to discuss how the presence of Apple can be elevat



China considers manufacturing cars in Saudi Arabia

China is considering manufacturing cars in Saudi Arabia to meet rising local demand, the country's Ambassador Li Chengwen said recently.



Alleith port plans construction on 43 million square meters

Work is under way in Alleith in the southern coastal area to relieve port congestions of the Western Province, according to an official at Jeddah Islamic Port (JIP).



Drake & Scull wins SR328m contract for Riyadh university project

Drake & Scull International (DSI) has been awarded a contract worth SR328 million to execute complete mechanical, electrical and plumbing works at King Saud University in Riyadh.



Saudia to purchase 50 aircraft; IPO for cargo unit this year

Saudi Arabian Airlines (Saudia) intends to purchase 50 new aircraft to beef up its domestic and international fleet network and is in talks with manufacturers Boeing and Airbus, a top Saudia executive



Madinah governor to open two port projects in Yanbu

Madinah Governor Faisal bin Salman will sponsor an event in Yanbu on Thursday, celebrating the inauguration of a number of development projects for the King Fahd Industrial Port and Yanbu Commercia



DED issues 12% more business licenses in 3 months

Business licenses issued by the Department of Economic Development (DED) over the final three months of 2013 were 12 percent higher than those issued during the same period of 2012 as economic activit

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