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

Thai transport authorities crack down on Uber, Grab drivers, seek ban

Thailand’s transport authorities have begun a crackdown on drivers for ride-hailing services Uber and Grab and want the military government to ban them, a transport official said on Tuesday. US-based Uber has faced regulatory hurdles around the world and when

Iraq to get 10-billion-pound loan for British contracts

Britain has agreed to arrange 10 billion pounds in loans to finance infrastructure projects in Iraq over a 10-year period, Iraqi Acting Finance Minister Abdul Razzak al-Essa said on Sunday. Only British companies can be contracted to carry out projects

Islamic Development Bank sets out roadmap to promote Arab-African trade

The Islamic Development Bank (IDB) is developing a roadmap to strengthen Arab-African trade over the next three years, according to Hakim Elwaer, IDB’s official spokesman. The roadmap includes identifying business opportunities and the areas of finance, building logistics platform, supporting

Huawei lays out vision for a 5G future

Eric Xu

Global technology giant Huawei has stressed the importance of embracing cross-industry innovation as key to accelerating innovation in super-fast 5G mobile data technology. Huawei shared its vision for a collaborative ecosystem that could stimulate innovation and bring 5G technologies to

Caterpillar offices raided in probe related to Swiss unit

Federal law enforcement officials raided three central Illinois facilities of manufacturer Caterpillar on Thursday as part of an investigation the company said may be related to business with its Swiss subsidiary CSARL. Officials from three federal agencies searched the Peoria,

Saudi Public Investment Fund sees $50 bln deals

Saudi Arabia’s Public Investment Fund (PIF) deals have increased in the past year to reach $50bln in the technology sector Bloomberg revealed. The report also highlighted that the PIF plans to build a diversified portfolio to keep up with modern

NBCUniversal invests $500 mln in Snap’s IPO

Comcast Corp’s NBCUniversal has invested $500 million in Snapchat owner Snap Inc, according to a memo on Friday, its latest move aimed at driving digital growth as more viewers go online for their favorite content. Like other traditional US media

Uber and Careem banned from airport pickup in Saudi Arabia

Picking up passengers from airports using private cars or ride-hailing services such as Uber and Careem is considered a traffic violation that is punishable by law, according to the General Directorate of Traffic. Saudis using private vehicles are also banned

Amazon cloud glitch disrupts sites

Usually people do not notice the “cloud” — unless, that is, it turns into a massive storm. Which was the case Tuesday when Amazon’s huge cloud-computing service suffered a major outage. Amazon Web Services suffered an unspecified breakdown in its

Trump pledges $1 trillion to rebuild infrastructure

US President Donald Trump

US President Donald Trump pledged Tuesday to bring $1 trillion in public and private investment to rebuild what he called America’s crumbling infrastructure. Trump made the promise in a high-stakes speech to a joint session of Congress, moving to make

Yahoo’s handling of hack costs chief her bonus

Marissa Mayer

Yahoo is punishing CEO Marissa Mayer and parting ways with its top lawyer for the mishandling of two security breaches that exposed the personal information of more than 1 billion users and already have cost the company $350 million. Mayer

Traders in southern India call for ban on Pepsi, Coke

Shopkeepers in a southern Indian state began removing Pepsi and Coke from their shelves Wednesday after unions called for a boycott of the soft drink giants, urging consumers to shun foreign brands. Pepsi and Coke sell a range of products

Asian leaders hold talks after Trump dumps TPP

President Donald Trump.

Negotiators from 16 Asian countries are meeting in the Japanese port city of Kobe this week for talks on a regional trade pact seen as a rival to the Trans-Pacific Partnership (TPP) rejected by US President Donald Trump. China is

King Salman’s month-long Asia visit to boost trade, religious ties

Saudi King Salman bin Abdulaziz al-Saud’s month-long visit through Asia, alongside his 1,500-person entourage, is being described as a bid to strengthen ties with a region the kingdom sees as an increasingly valuable economic partner. According to a newspaper report,

Saudi Arabia working on nationalization plan for retail sector

Saudi Arabia’s Ministry of Labor and Social Development is “currently working on the localization of the retail sector,” according to Khalid Aba Al-Khail, the Ministry spokesperson. Al-Khail pointed out in his Twitter account, that the retail sector “is one of

Several agreements to be signed during King Salman Asian tour

Saudi Arabia’s King Salman Salman bin Abdulaziz al-Saud will embark on a five-nation Asian tour next week. Several landmark pacts are expected to be signed during the 31-day long historic and unprecedented royal visit to East Asia. Leading a strong

UAE telecoms firm du targets $272 mln in savings by 2019

Emirates Integrated Telecommunications Co is targeting 1 billion dirhams ($272 million) in savings by 2019 as government taxes erode profit at the UAE’s second-largest telecoms company, its chief executive said on Thursday. Results have been under pressure since late 2014,

Airbus faces challenges as it enters new era

Airbus will draw a line under two decades of M&A dealmaking and frenetic orders on Wednesday as it reports its first results since the European aerospace and defense group unified under its dominant planemaking arm last month. The sense of

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