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
Iran plans Airbus, Boeing purchases under finance deals
Iran plans to buy Airbus and Boeing passenger planes through long-term payment agreements once a nuclear accord with world powers is implemented, the transport minister said. Iran desperately wants to upgrade its ageing fleet, which has been hamstrung by nuclear-related
Philippine vice president aims to widen foreign ownership
Philippine Vice President Jejomar Binay has vowed to amend the constitution to widen foreign ownership of businesses, create more jobs, and spur growth in the Southeast Asian economy if he wins next year’s presidential elections. A former human rights lawyer,
Insurance firm receives Binladin claim
The United Cooperative Assurance (UCA) announced Sunday that it had received a claim from the Saudi Binladin Group over the collapse of one of its cranes on Sept. 11 at the Grand Mosque in Makkah. Muslims took to Twitter to
200,000 jobs to be set aside for women in Haj, Umrah sector
A field study has begun for setting aside 200,000 jobs for women in the Haj and Umrah sectors, especially pilgrim-related services in Makkah, an online newspaper says quoting Ayman Beshawri, deputy chairman of the training and Saudization committee in Makkah.
Saudi Arabia crude exports fall to 7.276m bpd in July
Saudi Arabia’s crude oil exports in July fell to 7.276 million barrels per day from 7.365 million bpd in June, official data showed. Monthly export figures are provided by Riyadh and other members of the Organization of the Petroleum Exporting
Kuwait stock delistings threaten market’s status
A rising tide of delistings from Kuwait’s stock market threatens to widen a gap with rival bourses in the region as companies favor more dynamic economies such as Saudi Arabia and Dubai to sell shares. With a capitalization of about
British finance minister upbeat on slowing China economy
British finance minister George Osborne has expressed his confidence in the slowing Chinese economy, saying the country was going through a necessary transformation and was still a driver of global growth. A string of downbeat activity data combined with wild
Saudi salaries growing steadily despite falling oil price: Study
Salaries across the Kingdom have increased by an average of 4.5 percent in 2015, marginally below the rate of 5 percent, which had been forecast last year. This is based on the research drawn from Hay Group’s annual Compensation and
Only IDB is authorized to sell Eid sacrifice coupons
The Jeddah-based Islamic Development Bank (IDB) on Saturday hosted a reception in honor of media representatives from Muslim countries, who are currently in Saudi Arabia to cover Haj, to discuss this year’s Adahi project and ongoing awareness strategies related to
50,000 animals expected to be slaughtered in Riyadh
An estimated 50,000 animals are expected to be slaughtered in the capital as part of the Eid Al-Adha sacrificial rites on Thursday. There are about seven slaughterhouses in various localities of the city. Riyadh municipality said these places are ready
India’s mobile phone dreams become nightmare of dropped calls
In the past decade, nearly 1 billion people have been connected to wireless phone service as part of India’s mobile communications revolution, making it the second-largest mobile phone market in the world. But a recent combination of rapidly rising growth
World Bank ranks Gujarat as best Indian state for business
Gujarat, the state Prime Minister Narendra Modi ran for more than a decade, is India’s best place for conducting business, the World Bank said, in a report that ranks the country’s states in an effort to encourage them to cut
ATM fraud alert sounded out
The Saudi Arabian Monetary Agency (SAMA), the Kingdom’s central bank, has warned commercial banks to improve their systems and customers to be wary, after a gang was found stealing money from ATMs in Riyadh using sophisticated card readers and cameras.
Panel suggests ways to stop fuel smuggling
In an attempt to stop local companies from collecting or using petrol derivatives in a manner that violates rules and regulations, a government committee has recommended that they should purchase fuel only through Aramco. A source has been quoted by
Ministry officials seize 500 barrels of counterfeit paint
Five hundred barrels of counterfeit paint were seized and the factory with illegal laborers was closed on Saturday in Riyadh. An official from the Ministry of Commerce and Industry said the illegal activities were unearthed during an inspection tour to
KSA is ‘100% comfortable with market’
Ali Al-Naimi, petroleum and mineral resources minister, said he was “100 percent comfortable” with the oil market, in terms of supply and demand. Al-Naimi’s remarks in Al-Hayat newspaper came ahead of Friday’s OPEC meeting in Vienna where the organization decided
Saudi Gulf ready for Nov. 1 takeoff
Saudi Gulf Airlines said Monday that it would start operating flights on Nov. 1 from Dammam to Jeddah, Riyadh and one international destination, with more destinations added next year as its fleet expands. The statement follows a meeting between Sulaiman
Clear insurance dues within 15 days, firms told
Insurance companies must pay vehicle owners their dues after accidents within 15 days, said the Consumer Protection Association on Wednesday. “They may extend the period to another 15 days after informing the client,” the association tweeted. “In total, the payment
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