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
Microsoft profit dips as revenue rises
SAN FRANCISCO: Microsoft has reported that its quarterly profit dipped but revenue increased in a sign that it is adapting to lifestyles centered on mobile devices and cloud services. Bright spots during the three-month period ending December 31 included rising
Infrastructure investment to continue
Heavy spending on infrastructure, education, training and job creation initiatives would continue under Custodian of the Two Holy Mosques King Salman, an expert said here. Mazen Al-Sudairi, head of the research department at Investment Capital Company, said the new monarch
‘Lizard Squad’ hackers attack Malaysia Airlines website
KUALA LUMPUR: The website of Malaysia Airlines was commandeered for several hours on Monday by hackers who referenced the Islamic State (IS) militants and threatened to expose data taken from the carrier’s servers. The attack, whose motivation remained unclear, was
OPEC chief expects some rebound in crude prices soon
LONDON: Oil prices at current levels may have reached a floor and could move higher very soon, OPEC Secretary-General Abdullah Al-Badri said. “Now the prices are around $45-$55 and I think maybe they reached the bottom and will see some
Current account surplus: Kingdom in strong position
Saudi Arabia’s gross domestic product (GDP) doubled during the reign of Custodian of the Two Holy Mosques King Abdullah, who died on Friday, from SR1.23 trillion in 2005 to about SR2.82 trillion in 2014. Disclosing this, Saudi Arabian General Investment
Alwaleed, Danish envoy discuss economic issues
Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), received at his office Ole Frijis-Madsen, ambassador of Denmark to Saudi Arabia, Bahrain, Oman, Kuwait and Yemen. The meeting was attended by Heba Fatani, senior executive manager, corporate communications department;
BDI survey reveals barriers to board effectiveness
The GCC Board Directors Institute (BDI) Sunday announced the results of its fourth biennial Gulf Board Effectiveness Survey. Begun in 2009, the survey gauges the effectiveness of boards and directors’ performance and provides insight into changes and improvements made in
Alwaleed commended for Korean investments
Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), received at his office Lee Myung-bak, former president of Korea and an accompanying delegation. The delegation included Yoon Jeung-hyun, former minister of finance and economy, Hong Seok-woo, former minister of
Singapore should brace for slower growth, says PM
SINGAPORE: Singapore will do well if it manages to achieve an annual economic growth of 2 to 3 percent for the next five years, Prime Minister Lee Hsien Loong was quoted as saying. The economy has reached a stage of
Singapore Airlines stops rehiring captains after 62
SINGAPORE: Singapore Airlines said it will not longer rehire captains beyond the normal retirement age of 62 in fresh cost-cutting measures as competition from rivals hits profits. Previously, pilots with the rank of captain were allowed to fly beyond 62
OPEC ‘will no longer shore up price’
ABU DHABI: The UAE said that OPEC will no longer move to shore up crude prices, arguing that rising North American shale oil output needed to be curbed. World prices have been falling since June but the pace of the
Flynas backs Saudi job fair
For the second year in a row, flynas has been named the official airline for the third women’s job fair – this year entitled, “A Step Ahead of Employment.” The Saudi national carrier recently signed an agreement with Glowork, the
Samsung launches Galaxy A5 and A3 devices in KSA
Samsung Electronics says its all-new Galaxy A5 and A3 mobile devices are now available in the Saudi market, offering a refined, trendy design and the most advanced functions to support social networking. They are available in a variety of adventurous
Alwaleed tops ‘100 most influential personalities’ list
Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), has been ranked number one in the “100 Most Influential Personalities” general list in Saudi Arabia via Twitter in the online publication Almarsad Alsaudi for social media “Elmaam”. Furthermore, Prince
Saudi Water & Power Forum focuses on industry challenges
Riyadh Governor Prince Turki bin Abdullah bin Abdul Aziz, accompanied by Water and Electricity Minister Abdullah Al-Hussayen, opened the 10th Saudi Water and Power Forum (SWPF 2015) here on Monday night. The forum is being organized by the CWC Group,
India’s inflation quickens, industrial output grows
MUMBAI: India’s consumer price inflation quickened in December for the first time in five months, data showed Monday, dimming hopes of a new year rate cut by the central bank. But more promising figures released simultaneously by the government showed
Saudia passenger traffic rises 10.49% to 27.88 million
Saudi Arabian Airlines (Saudia) transported a record 27.88 million passengers in 2014, registering a 10.49 percent increase or 2.46 million passengers compared to the previous year, said Saleh bin Nasser Al-Jasser, its director general. He said the airline carried 15.7
Govt to bring order to chaotic mobile market
The Ministry of Commerce and Industry will issue new regulations to organize the mobile market in the Kingdom, local media reported. The move follows increasing complaints by consumers regarding mishandling and cheating in the mobile markets in Saudi Arabia, despite
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