Saudi Arabia
June 2019

Saudi Arabia’s SR 200 billion ($53 billion) lifeline to its non-oil economy may be in place for longer than planned as the kingdom supports industries struggling to cope with reforms that pushed up costs and dampened demand, a top Saudi official told Bloomberg.






June 2019

Riyadh-headquartered Hoshan Holding, widely recognised as one of the largest holding companies in the Middle East, has become the first Saudi company to implement SAP S4 Hana for Public Cloud.






June 2019

Baker Hughes, a GE company (BHGE) has announced the delivery of the highly engineered, severe service control valve packages to Saudi Aramco’s Jazan Integrated Gas Combined Cycle (IGCC) power plant.






June 2019

Al Salem Johnson Controls (York), a leading provider of integrated heating, ventilation and air-conditioning (HVAC) solutions and equipment, said it has relocated its new factory to Industrial Valley in Saudi Arabia’s King Abdullah Economic City’s (KAEC) .






June 2019

Marubeni Corporation, a leading developer and operator of international power projects, said its consortium has started work on Shuqaiq 3 independent water project (IWP) in Saudi Arabia following the closing of a major project finance agreement.






June 2019

Saudi Cement reported a net profit of SR132 million ($35.19 million) for the first quarter (Q1) of 2019, a 7 per cent decline year-on-year and a 6 per cent growth compared to the previous quarter. The results were slightly ahead of the estimate of SR127 million ($33.






June 2019

Saudi-based Almarai, the Middle East’s biggest dairy producer, approved a new five-year business plan with SR7.1 billion ($1.89 billion) in capital investments as the conglomerate vies to cut costs and return to profit growth.






June 2019

The UAE and Saudi Arabia have signed an authorised economic operator (AEO) agreement aiming to improve the customs cooperation between the two countries and facilitate trade. The move comes in implementation of the outcomes of the Al Azm Retreat, approved by the Saudi-Emirati Coordination Council, reported Emirates news agency Wam.






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