Topic: John Sfakianakis

Special report: Can Saudi Arabia fix its housing time bomb?

RIYADH (Reuters) - Like thousands of young Saudis, Nayef al-Nasser is trapped between love and a dysfunctional real estate market.Nasser, 34, has been engaged for the past seven years. His job as a car salesman in the Saudi capital earns him 5 ...
Remittances from Saudi Arabia's estimated nine million mostly Asian foreign workers are soaring as the kingdom recruits more of them for its massive development plan, an economist said on Saturday.At 18.4 billion dollars last year and 15.0 billion ...

GCC summit eyes common currency

Gulf Arab leaders gather for economic summit amid global financial meltdown, Gaza raidsIn a gathering marred by Israeli attacks on Gaza and pressured by the ailing world economy, leaders of the six Gulf Arab nations are gearing up for a summit in ...
Saudi Arabia expects $17.3 billion deficit in fiscal 2009Saudi Arabia is projected to record a budget deficit of 65 billion riyals ($17.3 billion) in fiscal 2009, its first in over five years, as the Arab economic powerhouse ratchets up efforts ...

Saudi central bank cuts repo rate

Ahead of Fed, Saudi central bank cuts key lending rates to boost liquiditySaudi Arabia's central bank on Tuesday cut two key lending rates by 50 basis points, as the Arab economic powerhouse pivotal to the region's economic health battles the ...
Don't envy us, Saudis say, as inflation leaves them feeling poorer despite huge oil boomSultan al-Mazeen recently stopped at a gas station to fill up his SUV, paying 45 cents a gallon about one-tenth what Americans pay these days.But the ...