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
Bahrain energy projects on course, says Mirza
ABU DHABI: Falling oil prices will not affect the development of oil and gas infrastructure in Bahrain, including an import terminal for natural gas and expansion of a major pipeline and refinery, the country’s energy minister said. Global oil prices
New India airline to start flying as others lose money
NEW DELHI: India’s newest airline announced Monday it would start flying next month and was “enthusiastic” about the future, even as rival carriers bleed red ink. The new airline, called Vistara — a Sanskrit word meaning “limitless expanse” — will
Kingdom Holding ‘concludes 2014 with a strong performance’
Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), held a board meeting at the company’s HQ in Riyadh recently. The meeting was attended by KHC Board that comprises Talal Almaiman, executive director for development and domestic investments, Sarmad
GCC chambers to honor inventors
Under the patronage of Abdul Latif Al-Zayani, secretary general of the Gulf Cooperation Council, the Federation of GCC Chambers will be organizing the closing ceremony of the 2nd Gulf campaign for the “GCC Inventors 2014” in Riyadh on Monday. The
Oil price slump ‘temporary’
The minister of petroleum and mineral resources said Thursday that the global oil price slump was temporary, adding that it was impossible for OPEC to cut output alone to reverse the plunge without the support of other producers. “It is
Sheikh Tamim, Alwaleed discuss investment issues
Sheikh Tamim bin Hamad Al Thani, Emir of Qatar, met Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC) and Alwaleed Bin Talal Foundation, during Alwaleed’s visit to Qatar on Sunday. During the meeting, they discussed the warm friendship
German economy at risk of downturn as growth slows
FRANKFURT: German private-sector growth slowed to the weakest in 18 months in December, increasing the risk that a soft phase will turn into a more pronounced economic downturn. Markit Economics said a Purchasing Managers Index for manufacturing and services fell
Kuwait: Oil prices will improve in 2nd half of 2015
KUWAIT: Kuwait’s oil minister has said oil prices could pick up in the second half of 2015. “The surplus in the market is currently 1.8 million barrels a day and it is the primary reason for the fall in oil
Russia spends billions to halt ruble’s decline
MOSCOW: Russia stepped up its defense of the ruble on Wednesday as it sought to halt a run on the currency and stem the worst financial crisis of President Vladimir Putin’s 15 years in power. The intervention came as Washington
Hotel deal to provide jobs for hundreds of nationals
Three hundred Saudi youth are to be employed in the hospitality sector under a new franchise system agreed between two of the industry’s biggest players. Addressing a press conference in Riyadh on Sunday, Abdullah bin Mohammed Al-Issa, chairman of Dur
Merkel behind Air Berlin in Etihad control dispute: Report
BERLIN: German Chancellor Angela Merkel is backing loss-making Air Berlin AB1.DE in a dispute over whether its Abu Dhabi-based partner Etihad is exercising too much control, Focus magazine reported. Etihad, which owns a 29 percent stake in Air Berlin, is
India scraps gold import curbs
NEW DELHI: Leading gold buyer India has announced it has eased controls on imports of the yellow metal after its current account deficit narrowed sharply. India, the world’s second-biggest gold buyer after China, imposed the import restrictions last year to
SABIC well positioned to lead World Plastics Council: CEO
Mosaed Al-Ohali, executive vice president SABIC Polymers, has been elected chairman of the newly established World Plastics Council (WPC), which has a membership of major players from the world plastics industry across Asia, the Middle East, North and South America,
KSA ‘strong enough to withstand lower oil prices’
RIYADH: OPEC’s biggest crude producer Saudi Arabia will have its sights set on the upstart US shale oil business at a crucial meeting to debate possible output cuts on Thursday. Analysts say the Kingdom is content to see shale oil
Council of Saudi Chambers in drive to promote SMEs
The Council of Saudi Chambers (CSC) has launched a training program on small and medium enterprises (SMEs) for its officials from various chambers in the Kingdom. CSC Secretary General Khalid Al-Otaibi said the program is being conducted in two groups
Saudi ports keen to promote local talent
Transport Minister Jabara Al-Seraisry inaugurated the first Saudi maritime forum as well as an exhibition in Dammam on Tuesday It was organized by the General Ports Authority and the Ministry of Transport. The two-day conference-led event, taking place at the
US economy resilient in third quarter as global growth cools
WASHINGTON: The US economy grow at a much faster pace than initially thought in the third quarter, pointing to strengthening fundamentals that should help it weather slowing global demand. The Commerce Department on Tuesday raised its estimate of gross domestic
RBI under rate cut pressure as growth slips back
NEW DELHI: India’s economic growth probably slowed to around 5 percent in the three months to September, slipping from 5.7 percent in the previous quarter, two senior finance ministry sources said, putting pressure on the central bank to cut interest
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