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
BP signs $10 billion gas deal with China’s Huadian
Oil major BP has signed a $10 billion liquefied natural gas (LNG) supply deal with China’s Huadian power producer, sealing the agreement as part of Chinese President Xi Jinping’s state visit to Britain. BP will supply up to 1 million
Al Faisaliah announces launch of multi-million riyal renovation
The iconic luxury landmark of the Saudi capital city — Al Faisaliah Hotel — has announced the commencement of an unprecedented renovation that begins a new chapter in its 15-year heritage. “Celebrating the 15th anniversary, we have embarked on a
Tech spats spark fears of ‘digital protectionism’
As American tech giants extend their global reach, fears are growing on their side of the Atlantic over trade barriers some see as “digital protectionism.” While China has long been a difficult market for US firms to navigate, tensions have
Mobily and Ericsson complete first step toward SDN enabled network
Etihad Etisalat Mobily and Ericsson have carried out a successful test of the Dynamic Service Chaining solution, achieving an important milestone in their plans for transforming Mobily’s network using Software Defined Networking (SDN). The positive test results pave the way
Oman Air set to start daily Dreamliner flights to Frankfurt
Frankfurt, Germany, is set to become one of the first destinations for Oman Air’s iconic new Boeing 787 Dreamliners when they enter service this autumn. Oman Air CEO Paul Gregorowitsch has announced that the aircraft will begin flying daily between
Wage delay: Small firms to face the music from February 1
Business establishments employing less than 100 workers and a minimum of 11 will come under the purview of the wage protection system (WPS) from February next year, and will be fined for delaying salaries and their employees will be allowed
American Airlines Q3 profit soars on cheaper jet fuel
A big merger and cheaper jet fuel are doing wonders for American Airlines. The world’s biggest airline reported that its net income jumped 80 percent in the third quarter to $1.69 billion despite lower revenue. Earnings got a big lift
Maersk cuts profit forecast, hit by weak shipping market
A.P. Moller-Maersk cut its 2015 profit forecast by 15 percent, blaming a slowdown in the container shipping market that suggests a weakening global economy. The Danish conglomerate operates Maersk Line, the world’s largest container shipping company which transports roughly 20
Oil down as dollar offsets China move
Oil fell on Friday, erasing early gains as traders dismissed a rate cut by China to focus on a surging dollar and weaker spot prices for US crude as a glut weighed on prompt supplies. A rally in US stocks,
Gold price falls after early surge
Gold fell on Friday after the dollar soared to its highest in more than two months and China eased monetary policy for the sixth time in a year, reviving expectations for a US rate rise. Spot gold slid 0.3 percent
Japan, Turkmenistan sign $18bn energy deals
Japan and Turkmenistan have signed deals worth over $18 billion on a package of projects in the energy-rich central Asian nation, which has become an important supplier of natural gas to China. Turkmenistan holds the world’s fourth-largest reserves of natural
Alphabet, formerly Google, smashes earnings expectations
Alphabet Inc, the new holding company for Google, introduced its first share buyback and beat Wall Street’s profit forecast on Thursday, helped by solid progress in mobile and video advertising, sending the stock to its highest-ever level in after-hours trading.
Gulf should adjust to new oil price ‘reality’: IMF
Gulf economies need to adjust to the “new reality” of oil prices expected to remain low for some time, the International Monetary Fund says, recommending spending cuts and income diversification. But the GCC states remain in a strong position to
Yahoo to reshape itself again, after weak results
Yahoo chief executive Marissa Mayer said Tuesday the struggling Internet pioneer will see a new, narrower focus — and a partnership with rival Google — following a disappointing quarter. Mayer, who has been seeking to turn around the onetime online
We create American jobs, Qatar Airways boss says
Qatar Airways CEO Akbar Al-Baker said that his company is helping to create jobs in the US despite an ongoing war of words between Gulf and American carriers. Al-Baker, speaking in Doha, also said he trusted American regulators to put
Boeing earnings soar 25% in third quarter
Boeing earnings soared in the third quarter and the company hiked full-year forecasts Wednesday as aircraft deliveries picked up to record levels on its huge backlog of orders. Boeing reported that revenues for the period came in at $25.85 billion,
Saudi-US business forum in Riyadh to promote trade
Riyadh will host the 4th edition of Saudi-US Business Forum early next year, said Douglas J. Wallace, commercial counselor, US Embassy in Riyadh. It is going to take place for the first time in Saudi Arabia after three successful editions
Honda to put self-drive car on road by 2020
Honda said it would put a commercialized self-driving car on the road by 2020, challenging rivals Toyota and Nissan which are also betting on the future of autonomous vehicles. The announcement, ahead of the Tokyo Motor Show next week, comes
Loading ...
You must be logged in to post a comment.