Billionaire Saudi prince to construct world’s tallest building in Jeddah for $10bn
Saudi Billionaire and owner of London’s Savoy Hotel Prince Al Walid Bin Talal has revealed plans for the ambitious $10 billion Mile High Tower, which will be constructed in Saudi’s financial capital and Red Sea port of Jeddah.
Saudi Arabia’s seaports will be developed with new investments to bring them on par with their international counterparts, Dr. Khaled A. Bubshait, president of the General Ports Authority said.
Gulf countries are expected to pump about $500 billion into the hydrocarbon sector in the next five years to expand crude capacity and set up new oil and gas related industries, said a regional report.
Indian Trade Team Clinches Huge Deals in Saudi Arabia
A group of 40 Indian industry managers, currently visiting Saudi Arabia with the support of the Indo-Arab Chamber of Commerce & Industry (IACCI), has signed multimillion-riyal trade, technology and investment deals, said Sushil Jiwarajka, IACCI chief, in a business conference on Monday night.
Saudi Arabia’s relations with Russia (and formerly, the Soviet Union) date back to 1924. Indeed, the Soviet Union was the first state to establish full diplomatic relations with the Kingdom, in 1932 — a year which also saw a visit to Moscow by the then Prince Faisal, who became King in 1964.
The Saudi Economy: Recent performance and prospects for 2008-09