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
Saudi Arabia crude exports fall to 7.276m bpd in July
Saudi Arabia’s crude oil exports in July fell to 7.276 million barrels per day from 7.365 million bpd in June, official data showed. Monthly export figures are provided by Riyadh and other members of the Organization of the Petroleum Exporting
Kuwait stock delistings threaten market’s status
A rising tide of delistings from Kuwait’s stock market threatens to widen a gap with rival bourses in the region as companies favor more dynamic economies such as Saudi Arabia and Dubai to sell shares. With a capitalization of about
British finance minister upbeat on slowing China economy
British finance minister George Osborne has expressed his confidence in the slowing Chinese economy, saying the country was going through a necessary transformation and was still a driver of global growth. A string of downbeat activity data combined with wild
Only IDB is authorized to sell Eid sacrifice coupons
The Jeddah-based Islamic Development Bank (IDB) on Saturday hosted a reception in honor of media representatives from Muslim countries, who are currently in Saudi Arabia to cover Haj, to discuss this year’s Adahi project and ongoing awareness strategies related to
50,000 animals expected to be slaughtered in Riyadh
An estimated 50,000 animals are expected to be slaughtered in the capital as part of the Eid Al-Adha sacrificial rites on Thursday. There are about seven slaughterhouses in various localities of the city. Riyadh municipality said these places are ready
India’s mobile phone dreams become nightmare of dropped calls
In the past decade, nearly 1 billion people have been connected to wireless phone service as part of India’s mobile communications revolution, making it the second-largest mobile phone market in the world. But a recent combination of rapidly rising growth
Panel suggests ways to stop fuel smuggling
In an attempt to stop local companies from collecting or using petrol derivatives in a manner that violates rules and regulations, a government committee has recommended that they should purchase fuel only through Aramco. A source has been quoted by
Ministry officials seize 500 barrels of counterfeit paint
Five hundred barrels of counterfeit paint were seized and the factory with illegal laborers was closed on Saturday in Riyadh. An official from the Ministry of Commerce and Industry said the illegal activities were unearthed during an inspection tour to
KSA is ‘100% comfortable with market’
Ali Al-Naimi, petroleum and mineral resources minister, said he was “100 percent comfortable” with the oil market, in terms of supply and demand. Al-Naimi’s remarks in Al-Hayat newspaper came ahead of Friday’s OPEC meeting in Vienna where the organization decided
Saudi Gulf ready for Nov. 1 takeoff
Saudi Gulf Airlines said Monday that it would start operating flights on Nov. 1 from Dammam to Jeddah, Riyadh and one international destination, with more destinations added next year as its fleet expands. The statement follows a meeting between Sulaiman
Clear insurance dues within 15 days, firms told
Insurance companies must pay vehicle owners their dues after accidents within 15 days, said the Consumer Protection Association on Wednesday. “They may extend the period to another 15 days after informing the client,” the association tweeted. “In total, the payment
2,745 restaurants shut for health violation
Samples of food items and drinks taken from more than 2,000 restaurants in Jeddah were found to be contaminated with 11 types of harmful bacteria, a municipal source has said. The shocking results of food samples, which were tested at
Prince Alwaleed meets Twitter’s CEO in Seattle
Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), met with Dick Costolo, CEO of Twitter, at the Fairmont Hotel in Seattle, Washington. During the meeting, Costolo thanked the Prince for giving him the opportunity to meet with him.
Saudia aims to have 200 aircraft by 2020
Saudi Arabian Airlines will have a total of 200 aircraft by the next five years, said Saleh bin Nasser Al-Jasser, director general of the national flag carrier. In a statement issued on Monday, he also disclosed plans to increase Saudia’s
PwC expects more consolidation in KSA insurance market
With an increase in price competition and capital erosion, PwC expects the Saudi insurance market to move toward consolidation of the industry to ensure long-term financial viability and narrow the performance gap between the top three insurance performers and the
Alireza: We have impeccable reputation for quality service
MAN Truck & Bus announced an important milestone this year with the company celebrating 100 years of commercial vehicle manufacturing. In the Middle East, MAN Truck & Bus has built a leadership presence with operations across the GCC and Levant
KSA’s nonoil sector set for robust growth
The Saudi economy will continue with its strong performance in 2015, despite the lower oil prices as the nonoil private sector will record robust growth amid diversification of the national economy and the Saudi stock market (Tadawul) opening up to
Direct real estate investments trending toward land development
AlJazira Capital, claimed to be the Kingdom’s first brokerage firm, says that the real estate development sector index declined by 9.04 percent on the day following the urban land fee enactment. Sector equities gained 31 percent since the beginning of
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