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: Economy

Saudi energy minister keeping close eye on US oil producers

Khalid Al-Falih, minister of energy, industry and mineral resources says the Organization of the Petroleum Exporting Countries’ (OPEC) production cuts are working to bolster crude prices and Saudi Arabia will look at whether other oil-producing nations are living up to

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

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

New Taiif project and housing launches 10.5 thousands units

The prince of Mecca Khaled al-Faisal announced the implementation of the new Taiif projects, which include the Taiif International Airport, the restoration of the Okaz market, the technology Oasis and the housing and industrial city. The prince also inaugurated a

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

Saudi Arabia’s Aramco to invest $7 bln in Malaysia oil refinery

Malaysian Prime Minister Najib Razak said Monday that oil major Saudi Aramco will invest $7 billion in a mammoth oil processing hub in Malaysia, making it the single largest investor in the Southeast Asian country. The announcement came on the

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

Exceeding China and India, Egypt’s Cairo is world’s fastest-growing city in 2017

Cairo’s population is expected to grow by half a million people in 2017, to become the fastest growing-city around the world, a recent report has revealed. In a list that included cities from China and India, which are known to

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

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