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 »
Category Archives: Commerce
Alphabet, formerly Google, smashes earnings expectations
Alphabet Inc, the new holding company for Google, introduced its first share buyback and beat Wall Street’s profit forecast on Thursday, helped by solid progress in mobile and video advertising, sending the stock to its highest-ever level in after-hours trading.
Boeing earnings soar 25% in third quarter
Boeing earnings soared in the third quarter and the company hiked full-year forecasts Wednesday as aircraft deliveries picked up to record levels on its huge backlog of orders. Boeing reported that revenues for the period came in at $25.85 billion,
EU rules Starbucks and Fiat tax deals are illegal
The European Commission has ruled that Starbucks and Fiat benefited from illegal tax deals with the Dutch and Luxembourg governments, in cases with major implications for the taxation of multinational companies. Antitrust commissioner Margrethe Vestager said all firms must pay
Toyota recalls 6.5m vehicles globally over window defect
Toyota said it was recalling 6.5 million vehicles worldwide over a power window glitch that presented a fire risk, the latest in a string of such moves by the Japanese auto giant. In recent months, Toyota has recalled nearly 10
Samsung may move up Galaxy S7 launch to January
SAMSUNG is reportedly moving up the launch of its next flagship smartphone, the Galaxy S7, to January in order to ramp up competition with Apple in the high-end phone market, according to a report from CNET. Samsung finalized the design
Apple Music has 6.5 million paying subscribers
APPLE Music already has a total of 15 million subscribers, of which about 40 percent — 6.5 million — are paying for the service. Another 8.5 million users are on a three-month free trial. The figures were announced by Apple
SABIC’s Q3 sales drop to SR37.3bn
The Saudi Basic Industries Corporation (SABIC) announced Sunday its third-quarter sales at SR37.3 billion, down from SR48.7 billion compared to the same period last year. SABIC, Saudi Arabia’s largest listed company, had earlier said its third-quarter net profit fell 9.4
Amazon poised to win big as India launches annual festive shopping spree
Amazon.com Inc. could emerge as the biggest winner from one of India’s most important festive — and shopping — seasons, after the e-tailer offered steep discounts, swift delivery and even gold bars to grab market share. The month-long festive season,
UK luxury carmaker Aston Martin’s losses triple in 2014
British luxury carmaker Aston Martin saw its losses almost triple in 2014, the fourth consecutive year it has failed to post a profit, following a recall of thousands of its cars and declining sales in China. The brand, famous for
London taxi drivers unhappy at Uber ruling
England’s High Court has ruled that the ride-sharing smartphone app Uber does not infringe a law on the use of taximeters to calculate fares. Uber had argued that its app, which calculates the fare based on GPS technology, was not
Reliance posts 12.5% profits boost
India’s Reliance Industries posted expectation-beating quarterly profits as earnings from its key refining and petrochemical operations offset the impact of a sharp fall in global oil prices. The Mumbai-based energy firm owned by Mukesh Ambani, India’s wealthiest man, also benefited
Riyadh forum: Brazil proposes liberal reciprocal business visa terms
Brazilian Ambassador Flavio Marega has proposed that the duration of the reciprocal business visas for the investors from the Kingdom and the South American country be reciprocally increased to five years instead of the existing 90 days in order to
Consumer spending, auto sales boost US growth
The US Federal Reserve says steady consumer spending and an improving housing market spurred modest US economic growth in the late summer, though factory output was sluggish in part because of the strong dollar. The Fed said in its latest
Etihad not planning to use cash pile for new planes
Etihad Airways CEO James Hogan has dashed Boeing and Airbus’s hopes of a spending spree by the Abu Dhabi airline following its success in raising $700 million in investment capital. Etihad said last month that some of the cash raised
Apple to open Dubai, Abu Dhabi stores on October 29
The U.S. technology giant Apple is set to open its first two dedicated UAE stores on Oct. 29, it was announced on Thursday. The long-awaited Apple Stores will be located at the Mall of the Emirates in Dubai and Yas
Dell to buy data-storage giant EMC for $67bn in mega deal
Computer giant Dell Inc. announced it was buying data-storage giant EMC Corporation for $67 billion, a mega merger in the technology industry. Dell, which founder Michael Dell and private-equity firm Silver Lake Partners bought out in 2013 to take the
French firms seek lucrative contracts at Riyadh forum
The Saudi-French Business Opportunities Forum taking place in Riyadh provides the best platform to develop areas of bilateral cooperation in many new areas, said Commerce and Industry Minister Tawfiq Al-Rabiah. Currently, he said that bilateral trade is estimated at 12
Kingdom and France eye multibillion riyal deals at Riyadh talks
A plethora of bilateral agreements between the Kingdom and France worth billions of riyals will be signed in Riyadh during the 2nd Saudi-French Business Opportunities Forum, which will be held in Riyadh on Tuesday. The forum is set to take
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