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
US urges India to toughen patent laws to draw investors
NEW DELHI: A top US trade envoy has urged India to strengthen its drug and other intellectual property laws, saying such a move is needed to draw vital investment to spur a sputtering economy. The call came as international charity
Companies must innovate to stay ahead: SABIC CEO
In the current economic environment, success is expected to come to only those companies that generate innovative products, services, processes and business models to gain competitive advantage, said Mohamed Al-Mady, SABIC vice chairman and CEO. He was speaking at the
Develop facilities at airports, GACA told
RIYADH — The Shoura Council on Tuesday asked the General Authority of Civil Aviation (GACA) to introduce an online facility for passengers to lodge their complaints and proposals as well as to receive replies from GACA within 15 days. Fahaad
Global warming could undermine poverty fight, warns World Bank
WASHINGTON: Climate change could undermine efforts to defeat extreme poverty around the globe, the World Bank warned. In a new report on the impact of global warming, the bank said sharp temperature rises would cut deeply into crop yields and
‘Saudis avid consumers of information’
The private sector should do more to keep pace with the changing face of communications, says a senior marketing executive of Riyad Bank. Speaking at the fifth Forum for Public Relations, Mohamad bin Abdulaziz Al-Rabeah, executive vice president of marketing
Seaport infrastructure to see massive growth
The General Port Authority has embarked on an ambitious plan to create huge infrastructure as part of the government’s fifth development plan by investing a total of $30 billion (SR112.5 billion) in the next few years. A report published in
Over $60bn petchem projects set to boost Saudi local sector
MEED, the Middle East Business Intelligence, lists 26 projects worth $15 billion under way in the Saudi petrochemical sector, while another $46 billion worth projects are under planning stage. The plastic industry, on the other hand, is being developed to
Aramco strategy unruffled by oil fall
The “cyclicality” of oil markets won’t take Saudi Aramco’s long-term corporate strategy off track, said its CEO and President Khalid Al-Falih. He was speaking at the 9th Gulf Petrochemicals & Chemicals Association Forum on Monday. Al-Falih also called for greater
Focus on nuclear energy for power generation
The 4th Arab States-China Cooperation Forum (ACCF) on Energy 2014, which marked the signing of an accord on peaceful nuclear energy use, concluded in Riyadh recently. Energy for sustainable development was the forum’s theme. Both parties identified areas of strategic
Al-Falih: ‘We must build on our wealth of young talent’
Saudi Aramco intends to become a top global refiner and a leading chemicals enterprise over the coming decades, said its President and CEO Khalid A. Al-Falih. “This will allow us to capture commercial opportunities and profitable growth while diversifying our
Flynas runs campaign with MasterCard
Flynas is partnering with MasterCard to offer passengers free seat selection when buying a ticket on flynas international flights. The campaign runs until Jan. 4, and is valid for MasterCard cardholders across the globe. In addition, the promotion includes four
New berth at King Abdullah Port to drive trade expansion
The Ports Development Company, owner and developer of King Abdullah Port, has announced the handing over of the third berth at the King Abdullah Port to National Container Company. The facility, which meets the Customs and the Coast Guard specifications,
Indian finance minister pledges ‘second-generation’ reforms
NEW DELHI: India’s Finance Minister Arun Jaitley has promised to unveil a whole series of “second-generation” reforms to try to kickstart the stuttering economy. In an interview with the Press Trust of India (PTI) news agency, Jaitley said the reforms
Mobily suspends CEO after results shock
The board of directors of Mobily has suspended its CEO Khalid Omar Al-Kaf and put his deputy Serkan Okandan in temporary charge pending an investigation into accounting errors. Al-Kaf will be suspended until Mobily’s audit committee completes its investigation into
Time to act on energy security, Biden tells EU
ISTANBUL: US Vice President Joe Biden on Saturday told Europe it was time to act on improving its energy security, warning of Russia’s “track record” in using energy supplies as a weapon. Speaking at an Atlantic Council meeting in Istanbul,
Falling inflation a worry for economic strategists
LONDON: European Central Bank President Mario Draghi has moved closer to launching sovereign debt purchases and data this week will show just how dangerously low inflation has fallen in the $13 trillion euro zone economy. A sickly Europe has held
Saudi business community buoyant as optimism levels advance in Q4
Dun & Bradstreet South Asia Middle East Ltd. (D&B) in association with the National Commercial Bank released the D&B Business Optimism Index (BOI) survey for Saudi Arabia for Q4, 2014. The BOI survey highlights the increasing optimism levels of both
Hyundai takes lead in car sector in Riyadh
Hyundai Motors says the company has received 40th rank on the list of trademarks and 5th among the sector of cars in the world. According to Inter-brand International, it is one of the best 100 trademarks during the last 10
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