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
Expat money transfers hit SR102bn in 8 months
Expatriate remittances from the Kingdom rose by 3.4 percent to SR101.8 billion in the first 8 months of 2014 compared to SR98.67 billion during the same period last year, according to a financial report. Likewise, Saudi personal remittances to foreign
Gold heads for 4th weekly loss in five, platinum hits 5-year low
Gold was poised for a fourth weekly loss in five on Friday, hurt by the strength of the dollar in recent weeks, while platinum slumped to a five-year low. All eyes are now on U.S. nonfarm payrolls later in the
Forbes picks top 200 most powerful Arab women
In a glittering ceremony replete with movers and shakers, Forbes Middle East on Wednesday unveiled its pick for the top 200 most powerful Arab women. Split into three categories, Arab women who have made headway in the fields of executive
Total in large-scale campaign to highlight role in energy sector
Total is launching its new international multimedia advertising campaign simultaneously in 21 countries to develop the group’s brand awareness. The campaign highlights Total’s operations in oil production, refining and marketing, as well as its role as a major player in
Oil price drops under $92 to 27-month low
LONDON : Oil prices fell to their lowest level since June 2012, after price cuts from top producer Saudi Arabia added to supply glut worries and weak global economic data. Oil declined alongside European stocks as the European Central Bank
Oil swoons below $95 as gasoline expires, dollar weighs
World oil prices tumbled to their lowest in more than two years on Tuesday, with U.S. crude posting its biggest daily decline since 2012 as expiring October gasoline futures tumbled 4.5 percent and the U.S. dollar rose. New York RBOB
Apple sells more than 10 mln new iPhones in first three days
Apple Inc. said it sold more than 10 million iPhones in the first weekend after its new models went on sale on Friday, underscoring strong demand for phones with larger displays. Chief Executive Tim Cook said the company could have
Solar energy plants in five regions
Saudi Arabia will build solar power stations in five regions by the end 2015. To be built by the King Abdullah City for Atomic and Renewable Energy (KACARE), the new plants aim to find alternatives and environment-friendly electricity resources. The
Air France cancels flights as strike enters second week
PARIS : Air France expects to operate 41 percent of its flights on Monday as a pilots strike over cost cuts and plans for the company’s budget Transavia unit enters its second week. The French airline, part of Air France-KLM,
SR487 million deal for new Riyadh residential compound
Drake & Scull Construction (DSC) has been awarded a building contract worth SR487 million in Saudi Arabia. Gulf Related, a leading regional real estate developer, awarded the main construction contract of its signature residential project, Antara, to DSC, the general
Jeddah skyscraper on target for planned 2018 completion
Kingdom Tower, the world’s tallest tower, located in northern Jeddah, has reached an important milestone in the project that will set another new world record — the world’s tallest construction crane. The singularly soaring skyscraper that will ultimately earn the
1,743-room Makkah hotel is largest in the Middle East
Prince Sultan bin Salman, president of the Saudi Commission for Tourism and Antiquities (SCTA), and Makkah Gov. Prince Mishaal bin Abdullah, jointly opened the 1,743-room Anjum Hotel-Makkah, the largest in the Middle East, to provide world-class services to the guests
Dubai’s Atlantis resort to get $1.4 billion expansion
Developers say they will build a $1.4 billion expanse of lavish suites and residences next to the famed Atlantis resort on Dubai’s man-made palm-shaped island. Investment Corporation of Dubai and Kerzner International Holdings, which will manage the 800-room hotel, announced
Iraq PM calls for ending boycott of Saudi products
Newly appointed Iraqi Prime Minister Haidar al-Abadi called on Monday for ending a boycott by a number of Iraqi governorates of products from neighboring countries, including Saudi Arabia. “We urge some of the provinces that have boycotted products from neighboring
JCCI’s national strategy seminar to kick off today
The Jeddah Chamber of Commerce and Industry (JCCI) will organize a series of informative seminars to draft the national strategy and quality programs in Jeddah, Riyadh and the Eastern Province. The program will start from Sunday in Jeddah, Monday in
Gold and silver continue to decline on dollar strength
LONDON : Commodity prices dropped this week as the dollar strengthened, with Brent oil sinking to its lowest level in more than two years against a backdrop of solid supplies and sluggish demand. Sugar futures meanwhile touched multi-year lows, weighed
Pilot turns Malaysia Airlines flight around after defect
A Malaysia Airlines flight was forced to turn around due to an auto-pilot defect, landing safely early Sunday, said the carrier already reeling from the loss of two planes this year. Flight MH198 from Kuala Lumpur to Hyderabad in India
How to revolutionize eating out in Saudi Arabia
Make better healthier choices Eating a clean diet begins with buying healthy products. But where can you find these? Many grocery shops are stocked with candies and full-fat dairies. Here are a few of the Kingdom’s best health stores. Abazeer
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