Business & Money | Sunday 15 February, 2015 2:34 am

Mass transit project to reduce traffic bottlenecks

Jeddah’s traffic problems can be solved only by a massive transit system in the city, said Maj. Gen. Waslullah Al-Harbi, director of Jeddah Traffic.“If such alternative traffic projects were fully implemented, as much as 70 percent of Jeddah’s road congestion would disappear,” Al-Harbi told ...

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Business & Money | Sunday 15 February, 2015 2:28 am

Saudis share 2-month salary bonus with cleaning staff

In a unusual and generous gesture, Saudi employees shared their two-month salary bonus with 250 cleaning workers.Once the gift was received, employees of the Al-Rawda municipality in Riyadh, organized a special party in which they shared the bonus with cleaning workers of the company contracted to...

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Business & Money | Saturday 14 February, 2015 12:21 pm

Minister’s visit strengthens Saudi Arabia-New Zealand relationship

New Zealand Associate Trade Minister Todd McClay has today concluded bilateral talks in Riyadh, Saudi Arabia. “My visit was an opportunity to further strengthen our relationship and highlight New Zealand’s commitment to partnering with Saudi Arabia in areas including food security,...

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Business & Money | Saturday 14 February, 2015 11:47 am

Prince Alwaleed and Prince Charlesdiscuss investments in Riyadh talks

Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), received Prince Charles, the prince of wales, and an accompanying delegation in Riyadh at Kingdom Resort.The meeting began as Prince Charles thanked Prince Alwaleed for his hospitality and warm welcome.Prince Charles and Prince...

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Business & Money | Saturday 14 February, 2015 11:42 am

Saudi listed retail firms’ profits rise 10% to $2.7bn

Net profits of the listed retail firms grew by 10 percent to SR2.7 billion by the end of 2014 compared to SR2.5 billion in 2013, according to a financial report.The profit growth was mainly driven by the increased profits of five companies, namely Jarir Marketing, Saudi Automotive Services Co....

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Business & Money | Saturday 14 February, 2015 11:36 am

Microsoft targets more mobile-productivity app purchases

Microsoft CEO Officer Satya Nadella has a new strategy to make the company a purveyor of popular mobile applications: Acquire them.The software company is planning over the next few months to buy mobile-productivity applications that work on Apple and Google operating systems, according to people...

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Business & Money | Saturday 14 February, 2015 11:01 am

NCB Capital Launches AlAhli Freestyle Saudi Equity Fund

NCB Capital, the region’s leading wealth manager and the Kingdom of Saudi Arabia’s largest asset manager has launched the AlAhli Freestyle Saudi Equity Fund. The fund is an open-ended Shariah-compliant fund that aims to achieve superior growth in capital through a more concentrated investment...

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Business & Money | Friday 13 February, 2015 7:44 am

Drowsy driving put to sleep 4,000 motorists in one year

Recent statistics released by Riyadh’s General Directorate of Traffic show that 4,000 people died because of drowsy driving in Saudi Arabia in 2014.According to a study carried out by the directorate, 70 percent of these accidents occurred on highways, 40 percent of them on the Jeddah-Madinah...

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Business & Money | Thursday 12 February, 2015 3:24 pm

Ascott Expands Global Network with its First Foray into Fast-Growing Istanbul

CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has secured a contract to manage its first serviced residence in Turkey, Somerset Maslak Istanbul. Ascott's entry intoTurkey will expand the footprint of the world's largest international serviced residence...

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Business & Money | Thursday 12 February, 2015 3:04 pm

TOH PR named official PR agency for Lifestyle engineers, Archimedia

TOH Public Relations, the leading GCC consumer communications agency, is pleased to announce that it has been appointed by Archimedia as its retained PR agency for 2015. Celebrating its 10th anniversary, Archimedia is the region’s leading provider of lifestyle technologies, smart homes and...

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