On Saturday, an announcement was made by the Kuwaiti airline Jazeera Airways that it was planning to add more flights to Istanbul Dubai, Jeddah, and Damascus.

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.

Nexans, a leading France based cable company, has announced that it has bagged a contract from Almabani to supply special airfield lighting cables for King Abdulaziz International Airport (KAIA) in Jeddah, Saudi Arabia.

According to sources, Almabani is the general contractor for the current airfield facilities upgrade project at KAIA that will take place in three stages, the first of which should be finalized by the first quarter of fiscal 2011.

Nexans, a leading France based cable company, has announced that it has bagged a contract from Almabani to supply special airfield lighting cables for King Abdulaziz International Airport (KAIA) in Jeddah, Saudi Arabia.

The proposal to set up a monetary union was approved on Wednesday by Gulf Cooperation Council (GCC) finance ministers. However, the day of the launch of the single currency was not announced. The reporters were informed by Qatari Finance Minister Youssef Kamal, who chaired the meeting of GCC countries in the Western Saudi city of Jeddah, “We have an agreement to set up the monetary union and the monetary council, as well as the basic structure.”