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
Al-Rashed quits Al Arabiya; Altoraifi new GM
Adel Altoraifi has been appointed the new general manager of Al Arabiya News Channel after Abdulrahman Al-Rashed quit the position on Saturday for personal reasons. The announcement was made by Sheikh Waleed Al-Ibrahim, chairman of the MBC Group. Altoraifi, who
Sharjah Port to purchase more vessels
Sheikh Khaled bin Abdullah Al-Qasimi signs deal with Damen Shipyards Sheikh Khaled bin Abdullah bin Sultan Al-Qasimi, chairman of Department of Seaports and Customs, Hamriyah Free Zone Authority and Sharjah Airport International Free Zone and Rene Berkvens, CEO of
Egypt hopes to attract $12bn at major investment summit
CAIRO: Egypt hopes to attract investment of $10-$12 billion in 20 projects, including in energy, transport and water, at a major conference in mid-March, the minister for international cooperation said. The conference is seen as a critical part of the
German delegation keen to promote Saudi trade
Peter Ramsauer, chief of the German-Arab Chamber of Commerce and Industry, has held high-level talks on strengthening bilateral cooperation in Riyadh. Ramsauer and his delegation met with various government agencies and business sectors, including senior officials in the Shoura Council
Brand simplicity index: Top rank for McDonald
Riyadh International Catering Corporation (RICC), McDonald’s franchise rights owner and operator in the Kingdom, is thrilled with the global food giant earning top spot on 2014 brand simplicity index for the Middle East. McDonald’s, claimed to be the world’s largest
InterContinental Riyadh Hotel voted Saudi Arabia’s Best Golf Hotel
RIYADH: InterContinental Riyadh Hotel has won the award as Saudi Arabia ‘s Best Golf Hotel at the inaugural World Golf Awards 2014, hosted last week end in Quinta do Lago, Portugal. The World Golf Awards is part of the World
DUR Hospitality Company to invest SR1.5bn in expansion
Saudi Hotels and Resorts Company, a public company listed in the Saudi stock market since 1976, has announced the launch of its new identity. It is also changing its trading name to “DUR Hospitality Company”, with a strategic transformation and
BHP Billiton defends demerger plan
SYDNEY: The world’s biggest miner BHP Billiton has defended its plan to split the company by spinning off noncore assets, saying it would generate stronger growth, with a vote on the demerger set for May. BHP announced in August a
German heavy industry giant ThyssenKrupp back in black
FRANKFURT: German heavy industry giant ThyssenKrupp said it turned in a profit for the first time in three years in the 12 months to September. “For the first time in three years the Essen-based industrial and technology group has generated
Airbus set to sign deal with Delta for 50 planes
PARIS: European aerospace giant Airbus is poised to sign a contract to deliver 50 long-haul carriers to US Delta Airlines in a deal worth $14 billion (11 billion euros) at catalogue prices, sources said. Under the terms of the deal,
Infosys BPO chief executive quits on ‘moral grounds’
MUMBAI: Indian outsourcing major Infosys Ltd’s back-office services unit was overcharging Apple Inc, leading to the exit of top executives, two senior Infosys people said. Infosys, India’s second-largest IT services exporter, said on Tuesday it had fired Abraham Mathews, chief
Yahoo replaces Google as Firefox’s default search
SAN FRANCISCO: Yahoo will supplant Google’s search engine on Firefox’s Web browser in the US, signaling Yahoo’s resolve to regain some of the ground that it has lost in the most lucrative part of the Internet’s ad market. The five-year
Reports: ISIS to introduce own ‘currency’
The Islamic State of Iraq and Syria (ISIS) is now looking to introduce its own currency in an effort of solidifying its control over areas where it proclaimed a “caliphate.” The militant group is reportedly looking to reinstate the Dinar
Tourism island among new projects unveiled in Yanbu
Twenty-seven major investment projects in the industrial city of Yanbu were unveiled during an investment forum opened by Municipal and Rural Affairs Minister Prince Mansour bin Miteb on Wednesday. Projects include a tourism island, four hotels, an international specialist hospital,
Data services: Mobily, Al-Rajhi Bank ink deal
Mobily has signed a communications and IT (CIT) services agreement with Al-Rajhi Bank. Ismail Al-Ghamdi, acting business chief officer, signed the agreement on behalf of Mobily. Ibrahim Al-Rashid, chief officer of IT, signed the deal on behalf of Al-Rajhi bank.
ZTE considers localization as all-time strategy
For ZTE, localization is an all-time strategy. Since the company’s launch in Saudi 2004, ZTE has been training hundreds of local telecommunication talents and providing job opportunities for a large number of university students, said a top executive of the
EasyJet winter bookings rise as competition heats up
LONDON: British low-cost airline easyJet has reported a small rise in winter bookings, shrugging off concerns about an increasingly competitive European travel market. The company also posted a 21.5 percent rise in pretax profit to 581 million pounds ($909 million)
Toyota rolls out mass market fuel-cell car
TOKYO: Toyota said it would start selling the world’s first mass market fuel-cell car in Japan next month and elsewhere in 2015, in what its top executive called an industry milestone. The four-door Mirai sedan, powered by hydrogen and emitting
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