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
First warning signs appear for UK’s resilient economy
Britain’s economy has for months defied the cataclysmic predictions made by campaigners for staying in the EU ahead of last year’s referendum but its smooth run shows signs of hitting the skids. As Britain begins the delicate process of extracting
Le Pen’s plan to jettison euro spooks French business
The euro — and her fervent wish to withdraw from it — is a central theme of every stump speech by French far-right presidential candidate Marine Le Pen. Le Pen calls the single European currency “a knife that you stick
Qatar Foundation looks at job cuts amid low oil, gas prices
The Qatar Foundation says it is looking at possible job cuts, the latest Gulf entity to acknowledge being hurt by low global energy prices. The foundation says in a statement Sunday it is “examining our existing operational costs,” when asked
Iran to sanction 15 US companies for Israel ties
Iran will impose sanctions on 15 US companies for their support for Israel and its “terrorist actions”, state news agency IRNA said Sunday. The decision, which is largely symbolic because the firms do not do business with Iran, comes two
UK push for trade with Turkey concerns lawmakers
Britain risks looking as though it has put defense and trade ties with Turkey ahead of human rights concerns as it pushes to secure a closer relationship with Ankara, a committee of lawmakers said on Saturday. The warning comes as
Emaar Malls is latest bidder for regional e-commerce giant Souq.com
The buzz around Souq.com, the Dubai-based e-commerce platform, got more exciting with Al Arabiya reporting that Emaar Malls has made an offer worth $800 million to buy the site. Emaar Malls is headed by chairman Mohamed Alabbar, who is also
Amazon to buy online retailer Souq.com
Amazon.com Inc. has agreed in principle to buy Dubai-based Internet retailer Souq.com, one of the best-known names in the Middle East’s online shopping market, sources familiar with the deal said on Wednesday. Souq.com, which sells consumer electronics, fashion, household items
Brexit banks set to avoid lengthy euro zone test
Banks in London that relocate operations to the euro zone after Brexit are likely to be spared a lengthy entry test by regulators, making it easier for them to shift, according to two officials with knowledge of the matter. The
Dubai Duty Free expects $2 mln sales hit from electronics ban
Dubai International Airport’s duty free operator estimates that it will lose about $2 million in sales this year from the ban on carrying most electronic devices on United States-bound flights, a senior executive said on Thursday. Under new security measures
Verizon, AT&T suspend ads from Google over offensive videos
US wireless carriers Verizon Communications Inc and AT&T Inc said on Wednesday they have suspended digital advertising on Google’s YouTube and other advertising platforms not related to search over concerns that their ads may have run next to extremist videos.
India tries to fix Iran trade payments as Trump hardens line
India is exploring setting up a new payments mechanism for trade with Iran, after its old sanctions workaround broke down, as state banks remain fearful of handling payments from Tehran in case the US imposes a fresh financial embargo. President
Red iPhone? The symbolic meaning behind Apple’s newest color
Apple announced Tuesday it is introducing red iPhones and cutting prices on two iPad models. The newly-revealed red color iPhone 7 and iPhone 7 Plus is the sixth color in the range, after jet black, black, silver, gold and rose
Apple CEO Tim Cook calls for more global trade with China
Apple Chief Executive Tim Cook expressed support for globalisation and said China should continue to open its economy to foreign firms, while speaking at a forum in Beijing on Saturday. “I think it’s important that China continues to open itself
E-commerce transactions in Saudi Arabia touch $600m mark
The volume of e-commerce transactions in the Saudi market amounted to around SR2.25 billion ($600 million) in 2016, according to Abdulrahman Al-Qahtani, secretary-general of the Consumer Protection Society (CPS). Al-Qahtani said it is necessary to protect consumers who engage in
Trump’s budget seeks to boost military, slash other federal agencies
President Donald Trump asked the US Congress on Thursday to approve a 2018 budget that would bolster military programs and begin building a wall on the southern border with Mexico while drastically cutting many federal agencies. Trump’s plan, showcasing his
Saudi Trade Ministry closes 75 social media accounts for promoting fake goods
The Ministry of Trade and Investment closed more than 75 accounts on social media, including Twitter, Facebook, Instagram and Snapchat, for posting thousands of ads for fake goods, Al-Jazirah daily reported on Saturday. The ministry said it took the step
Insurance claims in Saudi Arabia at an all-time high
Insurance claims in Saudi Arabia have surged to its highest ever record with an increase of 10 percent in 2016, while total insurance premiums, during the same year, have witnessed a slight increase by one percent. According to al-Eqtisadiah newspaper,
Gold prices continue to fall
Gold prices hit a four-week low on Wednesday as the dollar gathered strength on the prospect of a US interest rate hike. Investors are awaiting February non-farm payrolls data on Friday as a barometer of the US economy after Federal
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