Air Arabia, the only listed airline in the United Arab Emirates, will begin flights on May 6 from a new hub in the sheikdom of Ras Al Khaimah after local carrier RAK Airways suspended operations earlier this year.
The flash of purple abayas at a conference in Saudi Arabia’s second-largest city, Jeddah, was more than a fashion statement. It’s a sign of the changes Jeddah is embracing as King Abdullah slowly loosens restrictions on women in his conservative land.
JPMorgan Chase & Co. and HSBC Holdings Plc are among banks planning to compete for a role in the largest Saudi Arabian share sale in at least 12 years, according to five people with knowledge of the matter.
Saudi Arabia’s Public Investment Fund is planning to sell a 15 percent stake in the National Commercial Bank, the kingdom’s biggest bank by assets, in an initial public offering, Chairman Mansoor Al Maiman said in a phone interview.