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أدوات الموضوع | التقييم: | انواع عرض الموضوع |
#701
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Samsung Engineering wins $4bn Saudi projects
Samsung Engineering has won three new projects in Saudi Arabia worth about $4bn, Arab News has reported. The recent projects include Shaybah NGL (Natural Gas Liquid) and Wasit power plant from Saudi Aramco, and an aluminum complex from Maaden. H. P. Kong, Samsung Engineering's executive vice president and chief marketing officer has said that these contracts mark the diversification of its traditional hydrocarbon business into the upstream, industrial and infrastructure sectors. Source: Ame Info
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#702
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Saudi Arabia's bourse falls for a fourth straight session
Saudi Arabia's bourse fell for a fourth consecutive session, weighed mainly by petrochemicals and banking stocks, following drops in oil prices and global stocks. The petrochemicals sector index lost 0.8 percent as heavyweight Saudi Basic Industries Corp (SABIC) closed 0.8 percent lower. The banking sector index ended 0.8 percent lower. Samba Financial Group dropped 1.7 percent and Al Rajhi Bank slipped 0.7 percent. The general index closeds 0.3 percent lower at 6,199 points. Oil fell on Friday as a bout of profit-taking following big moves in spreads this week overtook early euro zone optimism. World stocks fell on Friday as many investors continued to fear a spread of the region's debt crisis into core European economies. Wall Street indexes ended mixed, capping the worst week for U.S. stocks in two months. Saudi Arabian Refineries Co (Masafi) surged the maximum 10 percent allowed after saying in a bourse statement on Wednesday that a court would hear on December 18 its SR1.2bn ($320m) lawsuit against state oil company Aramco following a dispute over Masafi taking a stake in a refining firm. Source: Reuters
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#703
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Saudi's Prince Talal resigns from Allegiance Council
A prominent half-brother of Saudi Arabia's King Abdullah has resigned from the Allegiance Council, the body responsible for overseeing succession in the world's top oil exporter, according to his website. Prince Talal bin Abdulaziz, father of billionaire Alwaleed bin Talal, is considered one of the most vocal supporters of reform in the ruling Al Saud family. His resignation comes three weeks after Prince Nayef, perceived as a conservative who has blocked reforms in the past, was named heir to the throne. Prince Talal's website gave no reason for his resignation. "After informing King Abdullah, Prince Talal bin Abdulaziz announced his resignation from the Allegiance Council," it said on Wednesday. His resignation means one of his sons might take his position in the council. The Allegiance Council was created by King Abdullah five years ago to represent each branch of the Al Saud family in the selection of future heirs to the throne. In 2009, Prince Talal objected to the royal court's announcement that Prince Nayef had been promoted to second deputy prime minister, a position that meant he was second in line to the throne. He said the council should have been consulted before the decision was taken. "I call on the royal court to clarify what is meant by this nomination and that it does not mean that he [Prince Nayef] will become crown prince," Prince Talal said in a faxed statement in 2009. Saudi authorities revoked Prince Talal's passport in the early 1960s when he pressed for a constitutional monarchy and allied himself to late Egyptian President Gamal Abdel Nasser, the arch-foe of the Saudi monarchy. Prince Talal was later allowed to return to the kingdom after toning down his rhetoric. Source: Reuters
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#704
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Saudi university aims to produces space scientists A major programme to help innovative students to do research works at US labs has been launched by the King Abdulaziz City for Science and Technology (KACST), as part of efforts to create a new generation of Saudi space scientists, Arab News has reported. The Saudi students would design and develop scientific research projects using CubeSat; a miniaturised satellite developed by California Polytechnic State University and Stanford University for space research that usually has a volume of exactly one litre and a mass of no more than 1.33kg. Source: Arab News
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#705
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Saudi Arabia to develop SR 100bn infrastructure projects in Mecca
Osama Al Bar, the mayor of Makkah has said the Saudi government plans to spend an estimated SR100bn ($26.66bn) on implementing mega infrastructure and housing projects in the holy city of Mecca, Arabic al-Riyadh daily has reported. The infrastructure projects include the construction of roads and restroom complexes, and the expansion of open areas, roads and streets, he said. The Holy City's municipality has also handed over a plot of land with an area covering more than 300 million sq m in the southern part of the city to the housing ministry that will be used for residential projects, Al Bar said. The municipality also plans to deliver additional sites to the ministry, he added. Source: Al-Riyadh Daily
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#706
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Najran governor warns of strict action against negligent officials
JEDDAH: Najran Gov. Prince Mishaal bin Abdullah warned public and private agencies on Friday that he would monitor service projects that have been carried out in the province and take punitive action against negligent companies and officials. The governor made this comment following a surprise inspection tour of some welfare projects in the region. “We’ll continue these inspection tour of every service project and take action against those who are found negligent in their duty.” Prince Mishaal expressed his hope that all companies and officials would carry out their duties in the best manner, realizing the hopes and aspirations of the leadership and people. He said Custodian of the Two Holy Mosques King Abdullah and Crown Prince Naif, deputy premier and minister of interior, want quick implementation of projects passed by the government. The governor began his tour from Najran-Asir Expressway and urged officials to complete installation of lights along the road from Bier Askar to the College of Technology as quickly as possible. “Prince Mishaal also inspected another project to develop Prince Naif Road into a two-way road,” an official statement said, adding that the prince expressed his satisfaction over the progress of work at one of the busiest roads in the Najran city. The tour also covered King Abdullah Bridge, Prince Sultan Road, Jarba police station and King Khaled Hospital. “He met with patients at the hospital and asked them to give their observations about the quality of services there,” the statement said. Najran has witnessed tremendous progress during the past two years following the appointment of Prince Mishaal as governor in March 2009, replacing Prince Mishaal bin Saud. King Abdullah visited the region in November 2006, a year after he ascended to the Saudi throne in August 2005, and launched a number of welfare projects as part of his plan to achieve balanced development in all parts of the country. The king laid the foundation for a SR600 million complex of four university colleges in Najran and instructed higher education officials to convert the complex into an independent university. The project, spread over 18 million sq. meters east of Najran city, will accommodate 12,000 students. The newly established Najran regional airport, which is designed to operate international flights, is one of the new generation airports in the Kingdom with an annual capacity of 1.4 million passengers. It was carried out at a cost of SR400 million. Source: Arab News
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#707
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Housing for singles and workers: A new hot property investment
RIYADH: Real estate sources in Riyadh claim a new and widespread trend among property investors is to focus on building apartments especially for single men, male students and workers as there is a huge gap in the market. It is predicted their prices will increase faster than other property types, particularly as there is evidence of an increase in commercial shops concentrated in areas where single men live. A 2011 study conducted by the Organization of Business Opportunities in Riyadh showed that in general, property investment is considered the best investment sector in the long run. It is safe, with limited risks involved, and is a constant source of income, more so than stock market investments. The study also pointed out that property prices in areas local to universities and where workers are concentrated have increased in the last five years by 85 percent. This increase has led to such properties surpassing the average prices of other property types in the Saudi market, especially in Riyadh and Jeddah. The study advises those who wish to invest in this type of real estate to carefully study property sites in each city and investigate the costs involved beforehand because they are considered long-term investments. It also points out that real estate financiers do offer reasonable rates for real estate loans, including “buy to rent” products that are especially for investors who buy properties to rent out and not for personal housing. These types of property are in great demand not just for manual laborers, but also expatriate employees who are either single or who are in Saudi without their families. Also, the apartment buildings currently available are not affordable enough and not designed for housing single males. Faisal Al-Dakhiel, a local property realtor, said construction companies in Riyadh have started looking for housing for their workers as near to the construction sites as possible regardless of the rent costs, which have on average increased recently. Al-Dakhiel said they preferred buildings that were as close as possible because of the long distances between the north and south of Riyadh in addition to the lack of transport services between these two areas. Al-Dakhiel confirmed most investors have converted their residential buildings into worker apartments to overcome the low demand for family apartments and to demand more rent from construction companies. Ali Al-Wada'ani, a real estate expert, said demand for these types of buildings increased by about a half this year. He added that real estate owners are trying to profit greatly from the high demand for apartments for single men and workers, which is why they increased the rent to SR22,000 per year for a two room flat. Muhammad Al-Abdullah, a real estate expert, said accommodating singles and workers in family neighborhoods is an old problem and is exacerbated by the fact the east and west of Riyadh is expanding. Such problems required a quick solution, which is to allocate special areas for workers and singles apartments. A real estate study revealed that the Kingdom would need 1 million extra homes over the next five years to cope with demand for housing. Source: Arab News
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#708
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Gold price in Saudi riyals for 24 gram is 202.58
As at 2:28 PM in Saudi Arabia November 26, 2011
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#709
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hassan from where u get ur news?
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#710
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