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
Apple seeks nod to open India stores
Apple Inc has applied to set up its own stores in India, one of the world’s fastest growing smartphone markets, as the iPhone-maker looks to tap new opportunities amid worries of slowing growth in its main markets. Apple sells its
Netflix global push grabs more customers than expected
Netflix Inc’s aggressive push into international markets won more customers than the video streaming service and its investors expected last quarter, sending its shares surging 7 percent. The dominant online video company said on Tuesday it had 74.8 million subscribers
King Abdullah Port records stellar feats in 2015
Engineer Abdullah bin Muhammad Hameedaddin, managing director of the Ports Development Company, owners, developers and managers, of King Abdullah Port, has announced the port’s success in handling 1,307,017 TEUs. King Abdullah Port, the first privately developed and managed port in
Romano’s Macaroni Grill Restaurant now in Jeddah
Romano’s Macaroni Grill, a leading US restaurant brand within the Italian casual dining segment, officially opened its third branch in the Kingdom and first in the city of Jeddah on Dec. 27, 2015 in Thaliya Street (opposite Tahliya Mall). The
E-commerce creates more opportunities for Saudi women
Many economists stress the importance of electronic markets in Saudi Arabia, their financial mega-returns and the availability of jobs for young businesswomen. A number of economists and businesswomen believe these markets still need organization and codification of their work. They
Wal-Mart to close 269 stores, 154 in US
Wal-Mart is closing 269 stores, more than half of them in the US and another big chunk in its challenging Brazilian market. The stores being shuttered account for a fraction of the company’s 11,000 stores worldwide and less than 1
Don’t worry ‘too’ much about China’s commodity demand
Just how worried should the commodity sector be about China? On the surface the answer would appear to be very worried indeed, given the multitude of issues confronting the world’s second-largest economy, coupled with rising concerns about the rest of
Oil prices drop as US crude inventories rise
Oil prices fell on Wednesday after a rise in weekly US crude inventories fed into bearish sentiment about the deepening global supply glut that has brought oil prices close to 12-year lows. Brent crude, the global benchmark, was down 37
Jet Airways rolls out special fares to mark India’s ‘Republic Day’
Jet Airways, India’s premier international airline, announced Wednesday a special five-day sale offer allowing guests from the Gulf to enjoy a flat 10% discount on base fares, applicable on all flights booked on jetairways.com for travel to India and countries
LuLu opens its 6th hypermarket in Saudi Arabia
Marching ahead with its aggressive expansion in the Saudi market, Middle East’s retail major LuLu Hypermarkets has opened its latest outlet in Dammam, making it its sixth outlet in the Kingdom and 121st in the GCC. The latest hypermarket was
Flynas introduces direct flights to Khartoum
Saudi national carrier flynas has launched direct services from Dammam to the Sudanese capital Khartoum, describing it as a strategic move to continue growing the carrier’s footprint in the wider Middle East region. The inaugural flight XY420 took off on
GM unveils Bolt electric car in Las Vegas
General Motors unveiled the production version of its Chevrolet Bolt electric car, on which the US auto giant is pinning its hopes for the emerging segment. The Bolt aims to appeal to consumers looking at a more affordable price tag
Saudia to hike fares
Saudi Arabian Airlines (Saudia) plans to hike airfares to help meet the costs of expanding its fleet, provide training for staff and improve services. This is according to Saleh Al-Jasser, director general of Saudia, who said that tickets have
Yahoo looking to slash 10 percent or more of its work force: Report
Yahoo Inc. is working on a plan to cut its workforce by at least 10 percent and it could start the process as early as this month, Business Insider reported, citing sources. “We are not confirming this rumor or commenting
Apple stock slumps amid iPhone sales worries
Apple fans keep buying iPhones, but Wall Street keeps worrying the company won’t be able to match last year’s blistering sales pace. Shares in the world’s most valuable company have fallen more than 15 percent over the last month, amid
Gold hits 9-week high; climbs above $1,100
Gold climbed above $1,100 an ounce for the first time in nine weeks on Thursday as the dollar fell and investors channelled money into safer assets after worries about the Chinese economy hit global stocks. European shares fell sharply after
LuLu moves ahead with Bahrain expansion plans
Middle East retail major LuLu Group, which is on a vast expansion mode, opened its 5th Hypermarket in Bahrain at Juffair. Shaikh Khaled bin Abdulla Al-Khalifa, deputy prime minister of Bahrain, opened the 120th LuLu Hypermarket of the group. The
Trump to scrap $1 bln in UK investments if barred from Britain
Donald Trump will scrap $1 billion of planned investments in Britain if he is banned from entering the country, a spokesman for the U.S. politician’s business empire said on Wednesday. British lawmakers are expected to debate whether the U.S. Republican
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