Saudi Crown Prince, US Secretary of Defense discuss troop deployment

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 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 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 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 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 govt says making faster than expected progress in cutting costs

Saudi Arabia’s government is making faster than expected progress in cutting costs and that is the main reason for a stronger budget position so far this year than originally projected, a top official said on Thursday. Last week, King Salman

KONE Wins Order for 8 New Projects by Alargan Projects in Saudi Arabia

KONE Corporation, a global leader in the elevator and escalator industry, has won the order to supply 153 elevators in 8 different projects commissioned by Alargan Projects in Saudi Arabia. The projects involved are located in Dammam, Yanbu, Riyadh and

US, global financial leaders skirt trade frictions, tout collaboration

Global economic leaders on Friday continued downplaying possible friction with the Trump administration over currencies, trade and other potentially contentious issues, even while acknowledging that much about the US president’s plans remains unclear. On a day when Donald Trump himself

Gold steady on N. Korea tensions, French election

Gold held steady on Tuesday after touching five-month highs the previous session, bolstered by the dollar softening versus the yen, North Korea tensions and the French presidential election. US Vice President Mike Pence reassured Japan of American commitment to reining

Saudi Labor Ministry identifies car rental suggestions

The Ministry of Labor and Social Development held a workshop in Riyadh to hear suggestions from rental-car dealership owners in a step to coordinate efforts to nationalize the industry. Deputy Minister for Private Programs Ibrahim Al-Shafi and partners and investors

Saudi Arabia ready to invest $2bln in region’s cultural tourism sector

Saudi Arabia and Oman will lead the GCC’s multi-billion dollar investments in cultural tourism with a series of projects to develop new cultural attractions, according to a report by Reuters. According to the research, compiled by Colliers International, Saudi Arabia

Egypt imposes sugar export tariff of 3,000 pounds per tonne

Egypt will impose a sugar export tariff of 3,000 Egyptian pounds ($165.47) per tonne, the state’s official gazette said on Thursday. Egypt expects to produce about 2.4 million tons of sugar from its harvest this year, less than the roughly

The Saudi economy: ‘With great challenges come great opportunities’

Julien Hawari

Few would dispute that Saudi Arabia’s economy has witnessed some tough times. But as this week’s Top CEO Conference will hear, there are some golden opportunities amid the gloom that followed the oil-price crash. Some of the burning issues facing

China clearing houses partners with Canada’s TMX in bond market push

In Beijing’s latest push to attract foreign investment into the country’s $9 trillion bond market, China’s state-owned clearing house said on Saturday that it will work with Canada’s TMX Group to expedite cross-border investments. Shanghai Clearing House, supervised by China’s

Dubai exchange may launch gold contract for retail investors

The Dubai Gold and Commodities Exchange (DGCX) said on Saturday it was considering whether to launch a new spot gold contract designed to be used by retail investors and traders. The DGCX signed a memorandum of understanding with the Dubai

Dubai’s Expo2020 unveils Al Wasl designs

Dubai’s Expo2020 unveiled designs of its Al Wasl plaza, a major design element within the exposition, on Monday on its official twitter account. Dubai said in January, it will award this year 47-construction contracts worth $3 billion in preparation for

Google, Amazon eye Toshiba’s chip unit: Report

Google and Amazon joined a list of potential buyers eyeing Toshiba’s lucrative memory chip business as the Japanese conglomerate seeks bidders to cover huge losses, a newspaper said Saturday. Toshiba has reportedly completed the first round of bidding for its

Trump’s orders target trade abuses, import duty evasion

Donald Trump

President Donald Trump sought to push his crusade for fair trade and more manufacturing jobs back to the top of his agenda on Friday by ordering a study into the causes of US trade deficits and a clampdown on import

Gold set for best quarter in a year

Gold was on track for a 7.8 percent quarterly rise on Friday, its best quarter in a year, as uncertainty over US President Donald Trump’s tax and investment plans and a series of elections in Europe fueled demand for bullion

Saudi Aramco formally appoints banks to advise on share sale

Saudi Aramco has formally appointed JPMorgan Chase & Co, Morgan Stanley and HSBC as international financial advisers for its initial public offering, sources familiar with the matter told Reuters. The trio join Moelis & Co and Evercore, which have been

Ride-hailing firm Careem on lookout for acquisitions, IPO an options

Dubai-based ride-hailing company Careem is looking for acquisition opportunities and is considering an initial public offering as a possible option but has no timeframe in mind, its founder and CEO said. Careem, which competes with Uber and operates from Pakistan

Indians with US visa, Green Card to get visa on arrival in UAE

Indian passport holders with an American visa or a green card will be granted entry visa on arrival in the UAE. This has come into effect following a decree approved by the UAE Cabinet, reports Gulf News on Wednesday. “Citizens

Samsung plans to sell refurbished Galaxy Note 7s

Tech giant Samsung Electronics plans to sell refurbished versions of the Galaxy Note 7 smartphones, the company said late on Monday, signaling the return of the model pulled from markets last year because of fire-prone batteries. Samsung’s Note 7s were

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