Saudi Crown Prince, US Secretary of Defense discuss troop deployment
:: Saudi Arabia’s Crown Prince Mohammed bin Salman received a phone call on Wednesday from the US Secretary of Defense during which they discussed ongoing arrangements to send US troops of a More »
Saudi Energy Minister confirms restoration of Kingdom’s gas production capacity
:: Saudi Arabia’s Minister of Energy confirmed on Wednesday the restoration of production capacity, affirming the Kingdom’s position as a reliable energy supplier in the global market. The energy minister, Prince Abdulaziz More »
Egypt calls Erdogan statements ‘ironic,’ accuses Turkey of sponsoring terrorism
:: Egypt’s foreign ministry spokesman, Ahmed Hafez, slammed Turkish President Recep Tayyip Erdogan’s statements at the UN General Assembly this week where he urged the UN to “handle the suspicious death of More »
Saudi Crown Prince: Attacks are test of int’l resolve against destructive acts
:: Saudi Arabia’s Crown Prince Mohammed bin Salman said on Wednesday that the attacks on Saudi Aramco oil facilities are a test of international resolve in the face of destructive acts that More »
Saudi Crown Prince says attacks on oil facilities are a ‘dangerous escalation’
:: Saudi Arabia’s Crown Prince Mohammed bin Salman said the recent attacks on Saudi Aramco facilities represented a “dangerous escalation not only toward the Kingdom but also the entire world.” The Crown More »
Daily Archives: July 2, 2014
Gold posts longest rally since 2011 as rebound defies Goldman
NEW YORK: Gold posted a second straight quarterly advance, the first back-to-back gains since 2011, as increasing demand for a haven drove a surprise 2014 rally. The dollar reached a one-month low this week versus the euro as a gauge
Iranian oil exports drop in June, stay above Western limits
LONDON: Iran’s crude oil exports dropped in June after a spike in May, yet sales were still above the level allowed by an interim deal aimed at curbing Tehran’s nuclear program, according to sources who track tanker movements. Under the
Which US tech stocks are the best bargains now?
LONG BEACH, California: Many tech companies saw their high-flying stocks lose altitude this year. Leaders in social media like Twitter Inc. and LinkedIn Corp. fell more than 40 percent from their 2014 highs. Others, such as the retailer Amazon.com Inc.,
BNP Paribas fined $9bn for breaking US sanctions
PARIS: Leading French bank BNP Paribas said it would face no difficulty in absorbing the record multi-billion-dollar fine slapped on it by US authorities for breaking sanctions against pariah regimes. Under the deal, BNP Paribas accepted guilt and a number
Tadawul: Tourism, telecom stocks gain over 2%
The Saudi stock market bucked the three-day downward trend and turned green on Tuesday, reflecting a decent gain of 0.75 percent. The benchmark Tadawul All-Share Index finished to the upside at 9,584.31 points, adding 71.29 points for the entire day.
Qatar Airways CEO threatens to halt Airbus orders if slots denied
FRANKFURT: Qatar Airways could reconsider ordering Airbus aircraft if it could not obtain landing rights — or slots — at European airports, CEO Akbar Al-Baker told a German newspaper in an interview. “If they (European airport slots) are limited further,
Oil prices decline despite Iraq tension
LONDON: Global oil prices fell but tensions in the crude-producing Middle East will likely keep prices high, analysts said. Brent crude for delivery in August hit to a two-week low at $112.51 per barrel in early morning London deals. It
Kingdom Holding and PineBridge set up JV to invest in Africa
Kingdom Holding Company (KHC), chaired by Prince Alwaleed bin Talal, and PineBridge Investments Middle East (PBME), a global multi-asset-class manager, have signed a memorandum of understanding to set up a joint venture platform to invest in direct private equity opportunities
Runway work cuts Dubai airport traffic in May
DUBAI: Passenger traffic through Dubai’s main airport fell 2.5 percent from a year earlier to 5.09 million people in May because of construction work on its two runways, operator Dubai Airports said. Dubai International, one of the world’s busiest airports,
Mideast funds become more cautious on equities
DUBAI: Middle East funds have become more cautious about investing in equities after sharp pull-backs in some markets underlined how high valuations had left them vulnerable, a monthly Reuters survey showed. The latest survey of 15 leading investment managers, conducted
Brain dead give 40 patients lease of life
Forty organ-failure patients in the Eastern Province have some good news: Organs of several clinically dead patients will be donated following its approval by their relatives, media reports quoting senior officials at an organ donor agency have said. Such initiatives
Deloitte: Family-owned businesses make up largest sector of GCC economy.
Around 80 percent of nonoil GDP within the Middle East region is accounted for by family-owned business groups. Typically, these privately-owned organizations span multiple business, are vertically integrated, own sizable real estate portfolios and their operational control is still maintained
China may have 1,000 tonnes of gold tied in financing : World Gold Council
Singapore – Chinese firms could have locked up as much as 1,000 tonnes of gold in financing deals, an industry report said, indicating a big slice of imports has been used to raise funds due to tight credit conditions, rather
San Mig in come-from-behind Game 1 victory
MANILA: San Mig Coffee got the headstart that it wanted against Rain or Shine in the Mixers’ drive for the Grand Slam, though it can’t get any more controversial than this one. James Yap hit two straight jumpers that completed
Sharapova falls to Kerber in 3 sets
Former champion Maria Sharapova saved six match points before falling to Angelique Kerber in the fourth round at Wimbledon on Tuesday, ending her bid to win a second title at the All England Club a decade after her first.
Heroic Howard fails to save US in thriller against Belgium
SALVADOR, Brazil: When the 121st minute expired at Arena Fonte Nova on Tuesday, ending another evening of high World Cup drama, the US soccer team’s players folded under the exhaustion and disappointment of a 2-1 extra-time loss to Belgium. Some
Schulz elected to run fractious EU Parliament
STRASBOURG, France: German Social-Democrat Martin Schulz was re-elected Tuesday to head the European Parliament following a May election that saw scores of anti-EU lawmakers enter the 751-seat assembly. In a session marred by a euroskeptic protest, the German center-leftist won
Uganda clashes with CAR’s Seleka rebels
KAMPALA: Uganda said on Tuesday its forces in Central African Republic (CAR) had clashed for the first time with fighters from Seleka, a mainly Muslim rebel force, killing 12, and would pursue them as part of a campaign against the
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