Saudi King and Crown Prince Condole Kuwait
In a heartfelt gesture of solidarity, Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salman expressed their deepest condolences to the Emir of Kuwait on Monday following the passing of Sheikh More »
Putin and Abbas Discuss Gaza Crisis
Russian President Vladimir Putin is set to meet with Palestinian President Mahmoud Abbas on Tuesday during Abbas’ visit to Russia. Arriving on Monday, Abbas aims to discuss the ongoing Gaza conflict with More »
Saudi Arabia Voices Strong Support for Gaza Peace Initiatives
Saudi Arabia has firmly aligned itself with the recent joint statement made by President Joe Biden of the United States, President Abdel Fattah El-Sisi of Egypt, and Sheikh Tamim bin Hamad Al-Thani, More »
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 »
Category Archives: Commerce
Businessmen call for Iranian goods’ boycott
Several businesspeople across the country have called on consumers and traders to boycott all goods from Iran in the wake of the attacks on Saudi missions in Iran. Omar Bahlaiwa, secretary-general of the international trade committee of the Council of
Gold price gains as risk aversion triggers demand
Gold rose on Tuesday as a wave of risk aversion due to growth worries in China and rising tensions in the Middle East triggered demand for the metal. Spot gold was up 0.6 percent at $1,080.43 an ounce by 1234
Prince Alwaleed cancels plan to invest in Iran
Prince Alwaleed bin Talal said on Tuesday he had canceled his plans to invest in Iran following Riyadh’s move to cut its diplomatic relations with Tehran. Writing in his twitter account, Alwaleed said he had rejected a request by the
Saudi stocks gain as banks rise
Middle East stock markets were mixed in quiet trade on Sunday with Dubai falling as Emaar Properties was sold after a fire at one of its luxury hotels. The Saudi and Egyptian markets gained, supported by large-cap bank stocks. Saudi
China halts stock trading as market lurches down again
China’s stock market lurched lower again Monday, triggering “circuit breakers” that halted trading. The slump was the latest episode in months of turmoil for Chinese investors. China’s market benchmark soared 150 percent between November 2014 and early June 2015, as
Casio rolls out G-Shock with youth fashion tone
Mahmood Saleh Abbar Co, the official agent for Casio in the Kingdom of Saudi Arabia, recently launched G-Shock GD-X6900AL-2 in collaboration with clothing brand ALIFE that specializes in youth fashion and modern designs. The launch event took place recently in
Maaden begins initial production at Barrick copper JV
Saudi Arabian Mining Co. (Maaden) has began initial production of copper at its joint venture affiliate with Canada’s Barrick Gold Corp, the Gulf’s largest miner said in a bourse statement. Maaden Barrick Copper Co, owned equally by the pair, will
Aramco to build world’s largest gas complex
Saudi Aramco intends to build the largest industrial complex for gas in the world a cost of $2.1 billion in Jazan. The new project will supply 20,000 metric tons of oxygen and 55,000 metric tons of nitrogen to its Jazan
’Clone’ tweets by Bollywood celebs spark Twitter outrage
India saw the launch of a much-touted 4G telecom service on Sunday night and Bollywood celebs turned to Twitter to break the news, all eerily tweeting the same thing. “Congratulations to the Jio family on this landmark day! This truly
Google, Ford will disrupt Detroit together
With the auto industry on the verge of its self-driving future, insiders and car enthusiasts have been gearing up for a clash of the titans, pitting the lumbering giants of Detroit against the nimble disruptors of Silicon Valley. But a
Firms using Smart Taxi apps ‘are not licensed’
The official spokesman for the traffic and transportation directorate in Makkah, Omar Bamasfaer, said that foreign taxi companies working through smart applications are illegal and don’t have an official license to practice inside the Kingdom. Bamasfaer said the ministry doesn’t
In shock to market, Turkey central bank keeps rates on hold
Turkey’s central bank left interest rates unchanged on Tuesday, a surprise move that reignited concern about political threats to its independence and put fresh pressure on the struggling lira currency. Analysts and investors have repeatedly called for a rate hike
Gold steadies after two-day rally
Gold held near $1,080 an ounce on Tuesday after a two-day rally, benefiting from a retreat in the dollar, though uncertainty over the pace of US interest rate increases capped the gains. The metal has risen around 3 percent since
Russia seizes fresh demand from new Chinese crude buyers
Russia overtook Saudi Arabia as China’s largest crude oil supplier for the third time this year in November, customs data showed as Russia captures fresh demand from new Chinese crude buyers. The jump in imports demonstrates the battle occurring between
Fisher products launched in Kingdom
AL-Asasiyah Electronics Co., Ltd. hosted a reception recently at Le Meridien in Al-Khobar which was attended by Hirao, the general manager of Meaji Trading Company – the exclusive representative of Fisher brand in the Middle East & Africa, and Chu,
Jeddah Motor Show records 150,000 visitors
Curtains fell on Jeddah Motor Show 2015, as it concluded its 37th edition at Jeddah Convention & Exhibition Center on Dec. 17. An estimated 150,000 visitors toured the Saudi International Motor Show (SIMS) and its various activities during its five-day
Alstom, Bombardier receive $1.4 billion railway order
French engineering giant Alstom and Canadian train manufacturer Bombardier said they have received an order worth 1.3 billion euros ($1.4 billion) to deliver double-decker trains to the Belgian national railways. Bombardier and Alstom said in a joint statement that they
UAE and China set up $10bn joint strategic investment fund
The UAE and China have established a joint strategic investment fund worth $10 billion, the UAE’s state news agency reported, as China pursues its ambition to rebuild Silk Road trade routes. The agreement was clinched during a three-day visit by
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