Saudi Arabia’s ruler named Defense Minister Prince Salman bin Abdul-Aziz is the country’s new crown prince Monday — an expected nod that leaves power still within an aging and shrinking circle of leaders in one of the West’s most critical Middle East allies.
The funeral prayers for the Saudi Crown Prince Naif bin Abdul Aziz will be held at the Haram Mosque in Makkah following the Maghreb prayer today. The body will then be buried at the graveyard in the holy city.
Saudi Crown Prince Nayef bin Abdulaziz, a hard-line conservative who is credited with pushing back al Qaeda, has died, Saudi state TV said on Saturday.
Jadwa Investment’s recently released May inflation report for Saudi Arabia found a year-on-year decrease in inflation to 5.1 percent, the lowest since August 2011.
The global takaful industry has witnessed tremendous growth in the last decade, rapidly becoming an integral part of the mainstream financial system, with Saudi Arabia at the forefront
Riyadh-based Jadwa Investments recently released its June, 2012 Saudi ‘Chartbook’ which includes updates on the Saudi economy, trade, oil metrics as well as assessments of various sectors including banking, trade, and sectoral performance.
Saudi Arabia has long been a dominant force in global oil markets, “but has never been an oil trader.” That changed on January 1st, 2012, when Saudi Aramco began operations at Aramco Trading, a wholly owned company subsidiary.
Riyadh is among the lowest risk cities in the region, with a rating that puts it ahead of international business hubs such as Milan, Lisbon, Istanbul and Moscow, according to the findings from the 2012 People Risk Index
