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
Saudi exhibition industry keen to build global links
Saudi Commission for Tourism and Antiques (SCTA) President Prince Sultan bin Salman has honored Riyadh Exhibitions Company (REC) in recognition of its ongoing efforts in promoting the meetings, incentives, conferencing and exhibitions (MICE) industry in the Kingdom. The event coincided
Urgent need for training bankers in Islamic finance
With Islamic finance (IF) and Islamic financial products (IFP) growing popular worldwide, there is an urgent need for training bankers in IF and IFP, says Azmi Omar, director general of Islamic Research and Training Institute (IRTI) and member of Islamic
5 health insurance companies banned for violations
The Cooperative Health Insurance Council (CHIC) has issued a decision to immediately stop the operations of five health insurance companies, and have prevented them from issuing or renewing insurance documents for six months, due to their violation of the health
Saudi Pavilion hosts 100 firms at The Big 5 exhibition in Dubai
Council of Saudi Chambers (CSC) President Abdulrahman Al-Zamil opened Saudi Arabia’s pavilion at The Big 5 exhibition in Dubai, which kicked off Monday and will continue till Thursday at the Dubai International Convention and Exhibition Centre. Saudi Export Development Authority
Microsoft surpasses Exxon as 2nd most valuable co.
SAN FRANCISCO: The bull run in Microsoft’s stock this past year has helped the tech giant surpass Exxon Mobil and seize the rank of the second most valuable company, behind Apple Inc. Under new CEO Satya Nadella, Microsoft has worked
Kingdom gets recognition as one of most developed Islamic markets
Acknowledged as one of the most developed Islamic markets, Saudi Arabia is a destination that should not be overlooked, according to Islamic Finance News (IFN) Forum that kicked-off here on Monday. Participants said they were keen to see growing interest
Internet changing car-buying habits in UAE: Google research
Research conducted for the first time in the United Arab Emirates by Google, in partnership with international research company Netpop, reveals that the Internet has changed the process of buying cars in the Gulf emirate, with visiting dealerships now the
Egypt spent $3 bln on fuel subsidies in the first quarter
Egypt spent 22 billion Egyptian pounds ($3.08 billion) on fuel subsidies in the first quarter of fiscal year 2014-2015, down 29 percent from the same quarter a year ago, an oil ministry official said on Monday. As part of efforts
UNDP ranking: Saudi Arabia makes remarkable progress
The 2014 Human Development Report by the UN Development Program reported that Saudi Arabia achieved a significant progress by ranking in the 34th globally, compared to its previous 57 rank in the UNDP report of 2013. Such a rank boosted
Qatar leaders, Alwaleed hold investment talks
Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), and an accompanying delegation visited Qatar on Saturday. During the visit, Prince Alwaleed met with Sheikh Tamim bin Hamad Al-Thani, Emir of Qatar, and Sheikh Hamad bin Khalifa Al-Thani. The
Factory run by female workers in Saudi Arabia breaks stereotypes
The Saudi government’s drive to draw more women into the labor force appears to be bearing fruit, as the jobs occupied by women seems to breaking the stereotypical ideology of suitable jobs for women in the kingdom. A factory producing
Study begins on Red Sea resources
The National Commission for Fishing has begun a study of the administrative laws and policies related to the regulation of fishing and the protection of the regional marine environment with a view to achieving sustainable resource use. The study is
Saudi-British Joint Business Council to boost tie-up in SMEs sector
The Council of Saudi Chambers (CSC) has emphasized the importance of strengthening trade and investment relations between the Saudi and British business sectors through the establishment of joint ventures in technology and know-how transfer. Speaking at the Saudi-British Joint Business
Manufacturing sector poised for significant expansion
IT spending in Saudi Arabia is increasing at the fastest rate across all countries in Central Europe, the Middle East, and Africa (CEMA) region, according to the latest insights released recently by International Data Corporation (IDC). In the manufacturing sector
European Commission bids to fight ‘unfair’ tax evasion
BRISBANE: European Commission head Jean-Claude Juncker urged a global fight against tax evasion while defending his position after revelations top companies paid less tax during his time as Luxembourg premier. “I really do think that on the international, on the
Kingdom emerges as China’s largest trading partner
For China, which has so far invested a total of $1.25 trillion abroad, Saudi Arabia remains the largest partner in West Asia and Africa, says Li Chengwen, Chinese ambassador to Saudi Arabia. Addressing a press conference on Thursday, Chengwen said,
Samsung take ‘virtual reality’ to another level with new 3D camera
Technology giant Samsung has revealed its latest 360 degree camera could ‘revolutionize’ the virtual reality world – an experience usually associated with video games. Dubbed Project Beyond, Samsung’s camera is expected to give users a high-resolution 3D, 360 degree view
G-20 set for ‘very aggressive’ crackdown on tax avoidance
BRISBANE: Australia has vowed a “very aggressive” crackdown on tax avoidance at weekend G-20 talks, as a row rages over Luxembourg’s sweetheart arrangements with multinationals. Closing corporate tax loopholes and endorsing a common reporting standard to increase transparency are set
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