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 finally opens the doors to its first Middle East store
Meet the welcoming party at Dubai’s new Apple store in Mall of the Emirates – a mall that has previously always been known for its vast indoor ski slope. But on Thursday the mall made retail history when the technology
KSA, China sign oil technology accord
Saudi Arabia and China have signed a technology agreement to share expertise that would add further value to the oil industry. The two countries would each set up a center for the transfer of technology, said Prince Turki bin Saud
Al-Naimi upbeat on growth of mining and minerals industry
Saudi Arabia has an ambitious plan to increase the share of mining in GDP to SR260 billion by 2030, Petroleum and Minerals Minister Ali Al-Naimi said in Riyadh. The minister was inaugurating the first Saudi Mining and Minerals Conference in
Toyota overtakes VW to regain lead in vehicle sales
Toyota was the world’s top-selling automaker for the first nine months of this year, selling nearly 7.5 million vehicles, and overtaking Volkswagen which was in the No. 1 spot for the half year. Toyota Motor Corp.’s global sales for the
Attacks on India’s beef industry hit buffalo meat trade
Rising tensions over eating beef in Hindu-majority India are starting to hit the multi-billion dollar buffalo meat trade, with exports falling in the last six months as traders run short of supplies and China lifts purchases from Brazil. Religious activists,
Mobily signs agreement with Disabled Children’s Association
Mobily has signed an agreement with the Disabled Children’s Association to support DCA’s projects through Content Services provided by the company under the name “Mobily Customers Project”. Led by Ahmed Farroukh, CEO of Mobily, and other members of the senior
Gulf projects: Demand grows for public-private partnerships
The Gulf’s state-linked firms are being forced to wean themselves off direct government funding, and focus more on capital markets and private investment, to push ahead with projects in an era of cheap oil. In the previous several years of
Toyota 2016 Land Cruiser: Advanced technologies ensure highest levels of protection
Abdul Latif Jameel and Toyota have announced the launch of the 2016 Land Cruiser in the Kingdom, introducing a technically advanced luxury SUV with genuine off-road capabilities, enhanced refinement and comfort for passengers. This world-beating, go-anywhere Land Cruiser is the
Second branch of Marcaroni Grill opens in Riyadh
Romano’s Macaroni Grill, a leading US restaurant brand within the Italian casual dining segment, officially opened its second branch in Takhassusi Street, Riyadh. The restaurant is already the talk of the town because of its authentic and sumptuous Italian taste
Take a sneak peek into Apple’s first stores in the Middle East
Apple on Tuesday revealed the interiors of its two new retail outlet in the UAE, marking the U.S. tech giant’s first brick-and-mortar foray into the Middle East. The stores, situated in upscale shopping malls in the capital Abu Dhabi and
UAE oil minister expects oil price to rise in 2016
The United Arab Emirates’ oil minister said on Monday that he expected an upward correction of oil prices next year. “We are expecting an upward correction – 2016 will be a year of correction, to what level we will see,”
Saudi Sipchem CEO says expects boost in 2016 performance
Saudi International Petrochemical Co’s (Sipchem) chief executive told Al Arabiya News Channel on Tuesday that he forecasts his company‘s performance to improve in 2016 with higher product prices. “I am optimistic that 2016 will be a better year in stabilizing
Out of the ashes, a new Libyan airline takes flight
Risk-averse entrepreneurs look away now. In the notoriously volatile airline industry, even well-established operators are never more than a few months from bankruptcy. The threat is compounded tenfold for start-ups – and is incalculably higher in a warzone. Small wonder
Flynas in talks to buy 4 new aircraft
Saudi Arabian budget carrier flynas, which made its first profit this year, is in talks with plane manufacturers Airbus and Boeing as it seeks to purchase four new aircraft over the next four years, its CEO said. “Profitability has given
e-services transform face of banking in Saudi Arabia
Global publishing firm Oxford Business Group (OBG) teamed up with Saudi Hollandi Bank for an upcoming publication due out later this year that explores the changing face of banking in Saudi Arabia, as a new generation of tech-savvy customers turn
Afghan carrier unveils plan for aggressive expansion
Afghan carrier Safi Airways plans to aggressively expand in the coming three years and will approach Airbus and Boeing about aircraft purchases, its chief commercial officer said. Business is growing, driven by demand, Joshua Bustos told a conference in Dubai.
Saudia to ground 19 of its aircraft
Director General of Saudi Arabian Airlines, (Saudia) Saleh Al-Jasser, has announced that 19 planes will be taken out of service during the upcoming period, of which 15 are the Embraer type and four ‘747’ jumbo jets. During the ceremony for
Alshiaka wins ‘Top 100 Saudi Brands’ award for 2015
Alshiaka Company has won the award of the top 100 brands in the Kingdom for 2015, according to the survey organized by Al-Watan newspaper. The award that aims at honoring the most popular Saudi brands for achievements that raise high
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