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: Economy
Apple confident ahead of European Union tax judgement
Apple chief executive Tim Cook said he was feeling “pretty good” ahead of the European Union’s judgement on its Irish tax arrangements, as the company announced 1,000 new jobs in Ireland on Wednesday. Ireland’s tax arrangements with the US tech
Japan’s first passenger jet makes maiden test flight
Japan’s first passenger jet made its maiden test flight Wednesday, a landmark in a decade-long program to launch the plane aimed at competing with Brazilian and Canadian rivals in the global market for smaller aircraft. About half a century after
Qatar Airways increases capacity on Dubai, Abu Dhabi, Dammam routes
Qatar Airways is increasing its capacity to Dubai, Abu Dhabi and Dammam with extra wide-body A330s, B787s and B777s commencing services to Abu Dhabi as of Nov. 1and Dubai and Dammam from Dec. 1. Qatar Airways Group Chief Executive Akbar
Free net-based phone services may be stopped
Telecom companies operating in Saudi Arabia intend to form an alliance to prevent people from using free Internet telephone services as part of their joint efforts to increase their annual revenue from phone calls, Al-Watan Arabic daily reported on Wednesday.
Oil price drop wakeup call for producers, says IMF chief
The global slump in oil prices should be considered as a “splendid wakeup call” by energy-producing countries for restructuring their economies, the head of the International Monetary Fund said Tuesday. The price of oil has dropped by more than half
Oil giant Saudi Arabia submits carbon-curbing pledge
Oil export giant Saudi Arabia submitted its pledge on Tuesday to reduce greenhouse gas emissions, a move observers hailed as a step in the right direction. In an action plan filed with the U.N. three weeks before a crucial climate
Saudi Arabia says will diversify oil economy to slow climate change
Saudi Arabia, the world’s largest crude oil exporter, plans to diversify its economy to help combat climate change in a move that could reduce expected output of up to 130 million tonnes of carbon emissions a year by 2030, the
Maggi back on Indian shelves after five months
Nestle’s hugely popular Maggi noodles returned to shelves in India on Monday five months after the government banned them saying lead levels were too high. “We are delighted to announce that your beloved Maggi noodles is back. The roll out
SAMA chief: Saudi banks have plenty of cash
Saudi commercial banks have plenty of cash, Saudi central bank governor Fahad Al-Mubarak said on Monday. Mubarak told Saudi-owned Ekhbariya Television that the increase in money rates, which he described as “slight”, was due to expectations for higher US interest
BSE Sensex falls; Modi’s loss in Bihar state clouds outlook for reforms
Indian shares, bonds and the rupee fell to around six-week lows on Monday after Prime Minister Narendra Modi’s heavy defeat in Bihar state elections raised concerns that his government will struggle to pass policy reforms. The benchmark index of the
Two top World Bank officials step down
Two top aides of World Bank President Jim Yong Kim, including his controversial chief financial officer, are stepping down, according to a Bank internal memo obtained by AFP on Friday. The two became key lieutenants Kim after his arrival in
Venezuela’s 3 SDR-selling transactions raise $2.3bn
With its cash reserves in sharp decline, Venezuela withdrew $460 million from the International Monetary Fund last month in its third such operation this year. The IMF website showed Friday that Venezuela exchanged part of its Special Drawing Rights —
75% food industries ‘cannot be monitored’
A whopping 75 percent of food industries and distribution centers in the Kingdom are not under surveillance or monitoring because they are located in remote areas. The startling revelation was made by the Saudi Food and Drugs Authority (SFDA) in
Al-Assaf: Arab, South America hold huge trade potential
Finance Minister Ibrahim Al-Assaf said here on Sunday that there is a strong need to intensify trade cooperation between the Arab and South American countries in view of the promising opportunities available in these countries. The minister was addressing more
China’s trade surplus rises 36% to record $61.64bn
China recorded its highest trade surplus on record last month, official data showed Sunday, as plunging imports highlighted the country’s continued struggle to boost domestic demand and prop up sagging growth. The disappointing figures show how Beijing is struggling to
KSA signs tourism pact with Serbia
The Kingdom signed a memorandum of understanding (MoU) with the Republic of Serbia for cooperation in cultural heritage promotion as well as tourism. The MoU was signed in Belgrade, the Serbian capital, by Prince Sultan bin Salman, president of the
Gold’s outlook brightens on China, India in medium term
With gold falling to a seven-week low it may seem an odd moment to outline the case why the gloom over the yellow metal may finally be starting to lift. Spot gold dropped to $1,103.90 an ounce on Thursday, the
Kazakh currency falls to record low
Energy-rich Kazakhstan’s national tenge currency plunged to a record low against the dollar Friday as the Central Asian country struggles with low oil prices and the impact of Russia’s economic crisis. The tenge dipped to a historic 310 versus the
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