Top Saudi Arabia News

ME Hotel Occupancy Highest In World

The Middle East has the highest occupancy and average room rates in the world at 75.3 percent and US$180 respectively. Press Release - 21Aug 11:26GMT
$562 Billion GCC Earnings In 2008

Gulf oil producers are expected to earn a record $562 billion in 2008 as crude prices are projected to remain above $100 and they are pumping at one of their highest levels. WAM (Emirates News Agency) - 21Aug 10:41GMT
Fake-degree mill in US leads to Saudi inquest

A long list of people who had purchased or attempted to purchase fake university diplomas in the United States has spurred the Saudi education authorities to launch an investigation into the issue of Saudis and expatriates who may be working in the Kingdom on counterfeit certificates. Arab News - 21Aug 08:35GMT
Municipality allays concerns over Jeddah's 'Musk Lake'

The Jeddah Municipality gave assurances yesterday that urgent projects under way at the sewage lake east of Jeddah are based on scientific planning and are being carried out by specialized companies. Arab News - 21Aug 08:32GMT
Societies condemn Iran decision

Two political societies have condemned Iran's decision to open two administrative offices on the UAE island of Abu Mousa, saying that it consecrated the occupation of the UAE territory and called for a common Arab stance against the move. Bahrain Tribune - 21Aug 07:19GMT
WSP Middle East launches a Transportation department in the region

Leading engineering consultancy, WSP Middle East, recently launched a Vertical Transportation department specialising in the movement of people and materials in a buildings environment. Press Release - 21Aug 07:15GMT
Saudi CMA allows stocks swaps with foreign investors

The Capital Market Authority (CMA), the Saudi stock market regulator, has decided to allow authorized persons to enter into swap agreements with non-resident foreign investors, whether institutions or individuals, to transfer the economic benefits of the Saudi companies' shares listed on the Tadawul. Arab News - 21Aug 06:48GMT
SRMG announces members of its board of trustees

The Saudi Research and Marketing Group (SRMG) has announced the names of the members of the newly constituted board of trustees. Arab News - 21Aug 06:47GMT
Investment, banking sectors put up decent show

Renewed selling binges in key stocks tugged a majority of the GCC bourses below the unchanged line yesterday. Clouded by intense sell-offs across sectors, Dubai surrendered over 1%, while Qatar andÂ Bahrain saw substantial percentages being wiped-out. Nonetheless, Oman and Saudi continued their up-ticks logging in handsome gains.Â BahrainEntering the fourth day of dismal show, the Ba Bahrain Tribune - 21Aug 06:32GMT
Saudi Arabia top exporter to Abu Dhabi

The General Administration of Customs - Abu Dhabi announced that external trade in July 2008 increased by 36.6 percent over the same period in 2007, highlighting the high-growth trade environment of Abu Dhabi. The Saudi Gazette - 21Aug 06:18GMT

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Saudi Arabia is not a country that stands out as a trendsetter. But it has been turning heads throughout the investment banking world.

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Concerned about food security, the kingdom is scouring the globe for fertile lands in a search that has taken Saudi officials to Sudan, Pakistan and Thailand.

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Inflation is the biggest threat to the planned Gulf Co-operation Council monetary union, the chief economist at Dubai International Financial Centre (DIFC), warned.

Company Ranking

Ranked by Market Cap | No. of Employees | Total revenue

	Company	Country	Market Capital ($mil)
1	Saudi Basic Industries Corporation	Saudi Arabia	100,134
2	Saudi Telecom	Saudi Arabia	34,980
3	Al Rajhi Bank	Saudi Arabia	32,644
4	Samba Financial Group	Saudi Arabia	15,861
5	Kingdom Holding Company	Saudi Arabia	14,299
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