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
Maison opens in Jeddah
Maison Boucheron, one of the famous luxuries jewelry houses, opened its Boutique at El-Khayyat Center in Jeddah (Nov. 4) and the launch of the first boutique in Saudi Arabia was well attended by prominent figures, woman and journalists. Maison Boucheron
Souqalmal.com beats competition to win
Souqalmal.com has been named Online Business of the Year at the recently announced Gulf Capital SME Awards 2015. Souqalmal.com was also highly commended in two other categories, the Gulf Capital Business of the Year and Entrepreneur of the Year. The
Allergan CEO Saunders warms up to drug discovery
Brenton Saunders, the whiz-kid pharmaceutical executive with a reputation for being wary of the costs of early-stage drug development, says he’s open to new ideas from outside and is now warming up to investing in drug discovery if it makes
Swedbank website down in hacker attack
Swedbank’s Swedish website has stopped working after a hacker attack and cannot be reached by its customers, a spokesman said on Friday. The attack means that customers cannot conduct online transactions or contact the bank through the Internet although mobile
Taqeem cites important role of valuation in Kingdom
Minister of Commerce and Industry Tawfiq Al-Rabiah has said that the Saudi Authority for Accredited Valuers (Taqeem) has been playing an important role in the Saudi economy since its establishment. “Taqeem regulates and supervises the valuation profession, which is involved
Iran set to ban consumer goods ‘symbolizing American presence’
Iran is banning the entry of U.S. consumer goods, the commerce and industry minister said on Thursday, as the country prepares for a lifting of economic sanctions. “In order to boost national production, it is necessary… to stop entry of
Nissan Maxima 2016 ‘4-door sports car’ stirs car buffs in KSA
Following its regional launch in the Middle East, Nissan has unveiled the all-new, game-changing Nissan Maxima 2016 in the Kingdom of Saudi Arabia. The completely redesigned 8th generation model is the sportiest, most powerful Maxima ever, and is set to
Bank of England deals blow to sterling, global outlook
European stock markets gained while sterling sank on Thursday after the Bank of England poured cold water on the idea that the road is clear for it and the Federal Reserve to start raising interest rates shortly. Asian markets ended
Tata Steel to press ahead with cost cuts
Tata Steel Ltd, Europe’s second-largest steel producer, said on Thursday it will press ahead with cost cuts and restructuring to cope with a surge in cheap Chinese exports to Europe and India, its two key markets. Tata, which posted a
Lufthansa cabin crew set to start weeklong strike
Lufthansa’s main cabin crew union said a week-long strike would start on Friday at the German carrier, after last-minute talks between staff and management over early retirement benefits and pensions broke down. “Friday will be the first day of the
Saudi Aramco demonstrates track-record of energy efficiency
Saudi Aramco has welcomed global energy ministers, officials and experts from the Carbon Sequestration Leadership Forum (CSLF) to its Dhahran headquarters to demonstrate its industry leadership in greenhouse gases (GHG) management, including energy efficiency and carbon capture and storage (CCS).
Jeddah’s first bagel bar
If you’re a morning person but struggle to find things to do on a weekend morning, a relaxing morning in one of Jeddah’s coffee houses would be a great choice. One of the Jeddah’s coffee café franchises, Bagel Bar and
Automechanika Jeddah opening eagerly awaited
Exhibition space for the inaugural Automechanika Jeddah 2016 is fully booked, as the countdown begins to the start of Saudi Arabia’s only dedicated automotive aftermarket trade show early next year. With more than 150 exhibitors signing on, Automechanika Jeddah will
Airbus shows off new A350XWB in Jeddah
King Abdulaziz International Airport greeted the world’s newest, most modern and efficient aircraft, the A350 XWB, which had a stopover in Jeddah while on its region demo tour. The aircraft landed in Jeddah on Tuesday and was welcomed by representatives
Yellen: US economy performing well
Federal Reserve Chair Janet Yellen said Wednesday that US economic activity remains solid and that the Fed could decide to increase interest rates at its December meeting. “At this point I see the US economy as performing well,” she told
Japan Post soars in Tokyo trading debut after $11.5bn IPO
Japan Post skyrocketed on its trading debut Wednesday after the biggest initial public offering this year, lifting hopes that privatizing what is effectively the world’s largest bank will boost Tokyo’s faltering growth blitz. Shares in the vast company — along
Applebee’s opens its 17th restaurant in Saudi Arabia
APPLEBEE’S Grill and Restaurant, which is the world’s largest casual dining chain with more 2,000 restaurants in around 19 countries, has now opened its 4th restaurant in Jeddah at Salam Mall. There are now total 17 Applebee’s in Saudi Arabia.
CEO: Mobily aims to become profitable again in short term
Mobily’s CEO Ahmed Farroukh believes that the cleanup has been made and the company is in a better position. “After what happened, if you really ask me what you are going to do, I will say that we will go
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