It has appeared that a sum of $500 million may be invested by private equity firm Gulf Capital in Saudi Arabia, the United Arab Emirates and Egypt.

As per the Chief Executive Karim el-Solh, a deal in the healthcare sector that would be announced soon is included in the opportunities.

Though he did not provide many details, he did say that in general the fund targets 10 deals will a deal-size of about $50 million.

Dar Al Arkan Real Estate Development Co, leading Saudi Arabia-based major developer has decided to invest 7.5 billion riyals (Dh7.4 billion) over a period of five fiscals on a new residential project in Jeddah.

The sources informed that the construction of the new integrated project, which will have more than 10,000 units as well as leisure and shopping facilities, in addition to schools, will commence in fiscal 2010.

Sama Airlines, leading Saudi-based low-cost carrier intends to acquire 20 airplanes over the coming four fiscals from either Boeing or Airbus.

The sources informed that the privately held firm presently runs a fleet of seven Boeing 737-800 aircraft.

Sama, which operates short-haul flights to 16 destinations within Saudi Arabia as well as Egypt and Jordan, was established in 2005 and started flights in 2007.

Saudi Arabia-based Yanbu Cement Company has clocked 20% decline in third-quarter net profit.
The company has attributed the dip in net profit to weaker sales.

Yanbu Cement representatives stated in a communiqué that the company's net profit figure during review quarter stood at SR98 million compared to SR122 million in the corresponding period a year ago.

As per the Wednesday news reports, a JV company is to be announced by Malaysia and Saudi Arabia's PetroSaudi International, in order to invest $2.5 billion in Malaysia. The aim of the venture, with government-owned 1Malaysia Development, is to concentrate on renewable energy.

As for now, the details regarding the investment split or when and where the fund would invest are not available.

Air Products along with Samsung Engineering bagged a contract in order to provide an air separation unit to National Industrial Gases Company (NIGC).

National Industrial Gases Company (NIGC) is an arm of Saudi Basic Industries Corporation.

The sources informed that the unit will make 3,550 tonnes per day (TPD) of oxygen, 3,600 TPD of nitrogen as well as 150 TPD of argon. It will be situated at NIGC's plant in Al Jubail and will be in operation in fiscal 2011.

Saudi Arabia took a step ahead Wednesday as it inaugurated its first-ever fully integrated coed university. Furthermore, its ruler announced that the institution will be a "beacon of tolerance" in a world attacked by extremists.

The students, who would study in the multibillion dollar King Abdullah Science and Technology University, or KAUST, will benefit from its state-of-the-art labs, the world's