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
Saudi Arabia well placed to become major global player in commodities
Saudi Arabia is well positioned to become a leading commodities supplier in the region, and a major player in the mining and minerals sector globally. Leading local and international experts agree that the Saudi Arabia has what it takes to
Three-year program to train Saudis for job market
A newly-launched program under the title “Our Youth Our Future” will provide three-year training to Saudi youth at six different training academies under the supervision of the Human Resources Development Fund (HRDF). The program initiated by King Khalid Foundation targets
China promotes low-paid college graduates to startup CEO status
Quitting her job as receptionist, joining rock bands and chancing her tattoo-sleeved arm at small business ventures would once have branded college graduate Ding Jia as a rebel in China. Now she can claim state endorsement as a “creative.” “I
Solar power ‘crucial’ for KSA
The pact signed earlier this year to set up an independent solar power plant would help meet some of the country’s rising energy demands over the next few decades. This is according to Abdularahman Almuhanna, chief executive officer of Taqnia
World stocks rallied to two-month highs
World stocks rallied to two-month highs on Friday and the dollar firmed after stronger US economic data helped allay fears about global growth. The MSCI World Index touched its highest level since Aug. 21 as the pan-European FTSEurofirst 300 rose
Amazon poised to win big as India launches annual festive shopping spree
Amazon.com Inc. could emerge as the biggest winner from one of India’s most important festive — and shopping — seasons, after the e-tailer offered steep discounts, swift delivery and even gold bars to grab market share. The month-long festive season,
Volkswagen market share dips in Europe amid emissions scandal
Volkswagen saw its market share in Europe drop fractionally in September, when its emissions scandal broke mid-month, as its sales growth lagged the wider market. VW Group sales, comprising all VW brands including its luxury marquees, rose by 8.4 percent
Pakistani entrepreneurs launch ‘Uber for rickshaws’
A group of young Pakistani entrepreneurs have launched an Uber-like rickshaw app service that is quickly growing popular with commuters struggling to find transport in the teeming eastern city of Lahore. Taxis and private cars are expensive to rent in
UK luxury carmaker Aston Martin’s losses triple in 2014
British luxury carmaker Aston Martin saw its losses almost triple in 2014, the fourth consecutive year it has failed to post a profit, following a recall of thousands of its cars and declining sales in China. The brand, famous for
London taxi drivers unhappy at Uber ruling
England’s High Court has ruled that the ride-sharing smartphone app Uber does not infringe a law on the use of taximeters to calculate fares. Uber had argued that its app, which calculates the fare based on GPS technology, was not
US industrial output falls again in September
US industrial production fell for a second straight month in September, as manufacturing declined and mining was hit by cutbacks amid declining energy prices, the US Federal Reserve reported. Total industrial output fell by 0.2 percent in September after an
Reliance posts 12.5% profits boost
India’s Reliance Industries posted expectation-beating quarterly profits as earnings from its key refining and petrochemical operations offset the impact of a sharp fall in global oil prices. The Mumbai-based energy firm owned by Mukesh Ambani, India’s wealthiest man, also benefited
Aramco, major energy firms pledge support for climate deal
Ten of the world’s leading oil and gas companies including Saudi Aramco have vowed to help fight climate change, notably by shifting toward cleaner natural gas. The initiative to limit climate-altering greenhouse gas emissions comes six weeks ahead of a
Yahoo’s updated email app aims to kill the password
Yahoo is trying to phase out passwords with an update to its mobile application for its email service. The renovated app released Thursday for iPhones and Android devices will include an option called “Account Key” that allows people to sign
Riyadh forum: Brazil proposes liberal reciprocal business visa terms
Brazilian Ambassador Flavio Marega has proposed that the duration of the reciprocal business visas for the investors from the Kingdom and the South American country be reciprocally increased to five years instead of the existing 90 days in order to
South Africa looks to buy Iraqi crude to boost supply security
South Africa’s Strategic Fuel Fund (SFF) is seeking to import 24 million barrels of oil a year from Iraq to boost its reserves in what would be South Africa’s first crude imports from Baghdad for more than a decade, an
Pakistan and Russia sign gas pipeline agreement
Pakistan and Russia signed an agreement on Friday to build a gas pipeline stretching hundreds of kilometers from Karachi on the Arabian Sea to the eastern city of Lahore. Russian Energy Minister Alexander Novak and Pakistan Petroleum Minister Shahid Khaqan
Russia’s Rosatom says Egypt nuclear talks in final stages
Russia’s state-owned nuclear firm Rosatom is in the final stages of talks for a contract to build a nuclear power plant in Egypt, a senior official of the company said on Wednesday. Anton Moskvin, Rosatom Overseas vice president, said that
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