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
9 more sectors included in Saudization program
The Ministry of Labor has included nine new domains under the Nitaqat nationalization scheme, bringing the total number of sectors that are subject to Saudization to 58. Domains that have been subsumed under the program include disability centers, strategic partnership
Lenovo closes deal to buy Motorola from Google
WASHINGTON: Lenovo has announced it has completed its acquisition of Motorola Mobility from Google, a move strengthening the Chinese giant’s position in the smartphone market. The $2.9 billion deal, announced in January, ends Google’s brief ownership of the onetime mobile
Takata sued over faulty air bags
NEW YORK: Takata Corp, the Japanese company whose potentially defective airbags have led to the recall of millions of vehicles, was sued on Monday by consumers who claimed Takata and several car manufacturers defrauded them by concealing crucial information. The
BP posts slump in Russian income but raises dividend
LONDON: BP’s third-quarter results took a hit from declining oil prices and a sharp drop in income from Russia as Western sanctions on Moscow led to a slump in earnings from the oil major’s local partner, Kremlin-controlled Rosneft. BP’s overall
Japan’s Softbank sees India Snapdeal investment as another Alibaba
NEW DELHI: Japanese technology giant SoftBank said it is hoping to replicate its success with China’s Alibaba through its $627-million investment in leading Indian online marketplace Snapdeal. SoftBank, a one-third owner of e-commerce giant Alibaba that just staged a record-breaking
Zain KSA transformation plan yields positive results
Zain KSA announced improving financial results for the 3rd quarter of 2014, recording a 21 percent increase in EBITDA during the first nine months of 2014, reaching SR825 million, up from SR684 million in the same period of 2013. The
Flynas suspends long-haul services
RIYADH: Saudi Arabia’s first and only budget airline, flynas, has suspended long-haul flights because profits on the routes did not meet expectations, Chief Executive Raja Azmi said. “We had some issues from a financial standpoint in terms of the profitability
U.S. cigarette maker to ban workplace smoking
Camel cigarette maker Reynolds American Inc. is snuffing out smoking in its offices and buildings. The nation’s second-biggest tobacco company informed employees Wednesday that beginning next year, the use of traditional cigarettes, cigars or pipes will no longer be permitted
SR210,000: Price of a falcon
A citizen has sold a rare saker falcon, also known as falco cherrug, for a whopping SR210,000 to an enthusiast. Abdullah bin Faraj Al-Qahtani, 40, said he had caught the falcon after spending a night and day at the site
Riyadh, New Delhi pitch for closer energy cooperation
Energy security and joint investments with special reference to the progressively growing Saudi-India ties were raised as priority aspects of cooperation during talks between Ali Al-Naimi, minister of petroleum and mineral resources, and Dharmendra Pradhan, Indian minister of oil and
EP plans to create 10,000 jobs for Saudis
The Eastern Province’s business and government leaders plan to create 10,000 jobs for Saudis in the region by holding an event linking firms and job seekers. The Wadaef Jobs Fair is being held under the auspices of Eastern Province Gov.
Business booming for money changers
Pilgrims are now frequenting currency exchanges in their thousands in downtown Madinah to change their currencies to help them shop in the Taiba market. Numbers of such pilgrims have skyrocketed with large groups of pilgrims and visitors to Madinah arriving
Saudi Arabia supplies less oil in September despite output rise
Saudi Arabia supplied less crude oil to the market in September than a month earlier, an industry soruce said on Thursday, at a time when some OPEC members are calling on the top oil exporter to cut back output to
70% of Makkah Mashaer Metro staff are Saudi
The Makkah Mashaer Metro (MMM), developed by the China Railway Construction Corporation (CRCC), recently disclosed to Arab News that 70 percent of its locally recruited staff are Saudi. According to CRCC’s Operational Department data, the number of local staff at
Jaguar Land Rover sees China sales growth halving this year
CHANGSHU, China: British luxury carmaker Jaguar Land Rover Ltd. sees sales growth in China roughly halving this year and decelerating even further next year due to a larger base of comparison and slower expansion of the world’s largest auto market.
Microsoft’s Nadella gets $84m pay package
REDMOND, Washington: Microsoft has given its new CEO Satya Nadella a pay package worth $84.3 million, most of it in the form of long-term stock awards. A regulatory document filed Monday shows Nadella got a salary for the fiscal year
‘Big construction firms falsely declaring workers as disabled’
Mervat Tashkandi, adviser to the Labor Minister, revealed that the ministry is working in collaboration with several ministries to issue special labor cards for people with disabilities through the “Tawafok” program. The move has come to counter the phenomenon of
Samsung seeks boost from redesigned Note
SEOUL: The latest version of Samsung’s popular big-screen Galaxy Note has gone on sale at a crucial time for the South Korean company as it suffers a rapid decline in profit from its global smartphone business. With the recent Note
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