Economy

The Kingdom’s Western Region is experiencing an unprecedented real estate boom, with billions of riyals earmarked for mega projects. Among the most important are the SR15 billion, mixed-use Prince...
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Kuwait to award $4.3bn contract for heavy oil project

KUWAIT CITY: Kuwait plans to award a 1.2 billion dinar ($4.3 billion) contract later this year for the first phase of a project to produce heavy oil at its northern Ratqa field, the head of Kuwait Oil



Chinese gold demand may rise 20% by 2017

LONDON: China’s annual demand for gold could jump around 20 percent by 2017 as more of its increasingly wealthy population seek new ways to make money, the World Gold Council has predicted.




India inflation accelerates, rate cut hopes dashed

NEW DELHI: India’s inflation accelerated in March to a three-month high, data showed, dashing hopes of an interest rate cut to boost the struggling economy.




Saudi firm moves toward 100% use of imported animal feeds

The Almarai Company has decided to stop the cultivation of fodder for animals and import it from abroad instead owing to the scarcity of water sources in the Kingdom.



Innovative solutions for power generation analyzed

The water, energy, technology, and environment exhibition (Wetex 2014) in Dubai is focusing on green solutions and green economy and the rapid developments and challenges in different sectors.



NBK net profit rises to $298m

National Bank of Kuwait (NBK), the largest Kuwaiti bank, reported net profits of $298 million (KD 83.9 million) in Q1, 2014 compared with $289 million (KD81.3 million) in Q1, 2013, up 3.2 percent year



Five IPOs in MENA raise $1.3bn in Q1

According to EY’s MENA IPO update, five IPOs (initial public offerings) from MENA raised $1. 3 billion in Q1, 2014, a decrease of 21 percent in terms of value compared to Q1, 2013.



TADAWUL: Industrial investment index up 2.72 percent, rises past 8,000-mark

Saudi Arabia’s benchmark Tadawul All-Share Index (TASI) dug in at 9,445.69 and ended its Monday's trading up over 20 points.

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