Saudi King and Crown Prince Condole Kuwait
In a heartfelt gesture of solidarity, Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salman expressed their deepest condolences to the Emir of Kuwait on Monday following the passing of Sheikh More »
Putin and Abbas Discuss Gaza Crisis
Russian President Vladimir Putin is set to meet with Palestinian President Mahmoud Abbas on Tuesday during Abbas’ visit to Russia. Arriving on Monday, Abbas aims to discuss the ongoing Gaza conflict with More »
Saudi Arabia Voices Strong Support for Gaza Peace Initiatives
Saudi Arabia has firmly aligned itself with the recent joint statement made by President Joe Biden of the United States, President Abdel Fattah El-Sisi of Egypt, and Sheikh Tamim bin Hamad Al-Thani, More »
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 »
Category Archives: Commerce
Alibaba co-founder Jack Ma to retire
:: Alibaba Group Holding Ltd’s co-founder and executive chairman Jack Ma will retire from the e-commerce company on Monday, as the former English teacher seeks to focus on philanthropy in education, the New York Times reported. Ma, one of China’s
Saudico Electronic Systems and Acteos SA are Partners In Saudi Arabia
:: Saudico Electronic Systems (SES) and Acteos SA have established a partnership for distributing Acteos range of modern Supply Chain Planning & Execution applications in Saudi Arabia. Acteos SA is a software Developer and Integrator of Supply Chain solutions headquartered
SAP Commit to Saudi Vision 2030 Digitization Goals
:: The Kingdom’s biggest public and private sector organizations have announced their commitment to Saudi Vision 2030 and National Transformation Program 2020 goals of digital transformation, with a common theme: Transform or Be Left Behind! The global economy is being
Saudi shipper Bahri sees VLCC market improving by Q4
:: Saudi Arabia’s Bahri, the exclusive oil shipper of Saudi Aramco, expects supertanker rates to stabilize at slightly better levels going into the fourth quarter, the vice president for commercial and operations of its oil business said. Bahri is the
Kuwaiti fund to sell Areva shares in bid, stay away from nuclear – sources
:: Kuwait Investment Authority (KIA) will sell its nearly five percent stake in Areva to the French state as the nuclear group is delisted and will stay away from nuclear investments for now, sources familiar with the situation told Reuters.
Toyota, Mazda plan $1.6 bln US plant, to partner in EVs
:: Japanese automakers Toyota Motor Corp. and Mazda Motor Corp. plan to spend $1.6 billion to build a joint-venture auto manufacturing plant in the US – a move that will create up to 4,000 jobs, both sides said on Friday.
5 key points of the new UAE tax procedures law
:: Companies in the United Arab Emirates will be required to keep accurate records of their businesses for a period of five years according to the Tax Procedures Law issued by President of the UAE, Sheikh Khalifa bin Zayed Al
Gold up, poised for more gains on soft US rate outlook
:: Gold climbed on Monday and was likely to see further gains after the dollar slumped to multi-month lows on the back of data that pointed to weak US inflation and less prospect of rate hikes. “The dollar continues to
High living costs as food, travel prices shoot up in Qatar
:: Living costs in Qatar have become far more expensive following boycott by all of Saudi Arabia, the UAE, Bahrain and Egypt, Al Arabiya’s sister news channel, Al Hadath reported on Wednesday. Food prices have doubled and at times went
India’s top court suspends ban on trade in cattle for slaughter
:: India’s Supreme Court suspended on Tuesday a government ban on the trade of cattle for slaughter, a boost for the multi-billion dollar beef and leather industries mostly run by members of the Muslim minority. Prime Minister Narendra Modi’s Hindu
Dubai online retailer Souq.com says sale to Amazon completed
:: Dubai-based Souq.com, the Middle East’s biggest online retailer, says its sale to Amazon has been completed. Souq.com said on Monday that users now could log into their website using their Amazon account. A Souq.com statement said the firms now
General Electric announces $15 billion of business deals with Saudi Arabia
:: American technology and engineering giant General Electtic (GE) announced on Saturday it had signed $15 billion of business deals with Saudi Arabia which will go a long way in boosting the kingdom’s drive to diversify its non-oil economy .
Turkey aims to boost GCC ties amid free trade talks
:: Turkish President Recep Tayyip Erdogan on Monday said he aimed to boost economic and military ties with Arab Gulf states, as talks on a free trade zone deal pushed ahead. Erdogan, who is expected in Kuwait on Tuesday, said
London tries to lure Saudi Aramco with new listing structure
:: The London Stock Exchange is working on a new type of listing structure that would make it more attractive for oil giant Saudi Aramco to join the bourse, sources familiar with the discussions said. Exchanges around the world are
Saudi finance minister says likely to tap foreign, local bond markets again
:: The Saudi Arabian government is likely to tap the international and domestic bond markets again this year, depending on demand for its debt and the pricing it can obtain, finance minister Mohammed al-Jadaan said on Tuesday. He told an
Dubai’s Aramex Q1 net profit down 5 pct
Dubai-based courier Aramex reported a 5 percent fall in first-quarter net profit on Sunday due to a rise in provisions related to the company’s incentive scheme. The company made a net profit of 91.8 million dirhams ($25.0 million)in the three
US to review trade pacts, looking at ‘abuses’
President Donald Trump will sign a decree on Saturday ordering a review of “violations and abuses” of international trade pacts signed by the United States, including the 164-member World Trade Organization, Commerce Secretary Wilbur Ross announced on Friday. The news
Egypt considering $1.5-2 billion Eurobond in coming weeks
Egypt is considering a $1.5-2 billion Eurobond offering in the coming weeks, finance minister Amr El Garhy said in a telephone interview with private television channel CBC on Saturday. Egypt sold $4 billion of Eurobonds in three tranches in January,
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