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
30 containers of rotting chicken seized in Jeddah
Jeddah Islamic Port officials have found 30 containers loaded with rotting chicken at pier 51. The imported chicken has caused a predicament for officials because there are lengthy procedures involved in destroying the shipment. Meanwhile the foul smell is permeating
Qatar Airways domestic flight operation soon
Qatar Airways is expected to launch domestic flights within the Kingdom shortly. According to Al-Sharq, a local daily based in Doha, the new service will be operating under the brand, Al-Maha Airways, in the Kingdom. Although the date of the
Ryanair orders 100 Boeing 737 planes for $11 bn
NEW YORK : Irish budget airline Ryanair agreed to buy 100 aircraft from Boeing for $11 billion, with an option to purchase another 100 planes from the aerospace giant, the companies announced Monday. The order covers the 737 Boeing MAX
Oil falls under $100 but OPEC says price still within acceptable range
LONDON : Brent crude slid below $100 a barrel on Monday for the first time in more than a year as Chinese and US data pointed to slower-than-expected growth in the world’s top oil consumers. Weak economic growth combined with
SIMAH prepares to host 9th World Consumer Credit Reporting Conference
As consumer credit becomes part of daily life in the GCC economy, the implementation of a sound credit system is vital to reduce the vast number of bounced checks issued in the region, according to the CEO of the Saudi
Gold prices dive to 2.5-month low
LONDON : Commodities mostly fell last week on the back of the strong dollar, which surged following news of a surprise package of deflation-fighting stimulus measures in the euro zone. “Weakness across the commodity space resumed this week,” said Saxo
KSA acts to reduce harmful effects of tobacco products
Commerce Minister Tawfik Al-Rabiah refuted rumors via Twitter that there would be a hike in tobacco prices in the Kingdom. The Kingdom will, however, increase the specifications of tobacco products to minimize its harmful effects on smokers, the minister said
Carmakers force the smiles at Russia’s car show
MOSCOW: The latest models gleam at the Moscow car show, but Russian sales have dropped because of the Ukraine crisis and the shine has gone off a key growth market. Hostesses in cocktail dresses and high heels fawn over the
India prepared for US Fed rate rise: Central bank chief
NEW DELHI: India is now better prepared to handle the impact of any US interest rate increase because of signs its economy is improving, the central bank chief said in an interview. Reserve Bank of India Governor Raghuram Rajan said
Malaysia Airlines to slash 6,000 jobs in survival bid
KUALA LUMPUR: Malaysia Airlines will slash 6,000 jobs, trim its route network, and replace its CEO under plans announced to stave off bankruptcy after two air tragedies plunged the already troubled carrier deeper into crisis. State investment fund Khazanah Nasional,
Samsung denies child labour at Chinese supplier
S Korea’s Samsung has refuted child labor allegations by a labor protection watchdog. SEOUL : South Korea’s Samsung Electronics has refuted fresh allegations by a labour protection watchdog that one of its suppliers in China hired child workers. New York-based
Google tests using drones to deliver goods
Google expected it to be several years before a delivery drone system is ready. SAN FRANCISCO : Google on Thursday said it is testing using drones to deliver items bought online, putting its own spin on similar efforts by Internet
Supermarket giant Tesco rocked by new crisis
LONDON: British supermarket giant Tesco has plunged deeper into crisis after issuing yet another profits warning, cutting both its dividend and capital expenditure, and rushing in its new chief executive. In reaction to the dire trading update, Tesco shares plunged
Malaysia Airlines posts Q2 net loss of $98 mln
KUALA LUMPUR: Malaysia Airlines reported another financial loss and warned of poor second-half earnings, as passenger bookings tumbled in response to the loss of two aircraft in separate disasters this year. In a statement to the stock exchange, Malaysian Airline
Contracts for new GCC medical facilities rise 25%
Contracts for new medical facilities across the GCC are expected to reach $9.53 billion by the end of 2014 — a 25 percent increase on 2013. Dubai plans to attract 500,000 patients for treatment by 2020 as part of its
Kuwait to boost oil exports to China to 500,000 bpd in 3 years
DUBAI: Kuwait plans to increase the volume of crude oil exports to China to 500,000 barrels a day (bpd) in three years, an executive at the state-run Kuwait Petroleum Corporation (KPC) said Saturday. On Monday, Kuwait concluded a new 10-year
Dubai’s tourism: KSA remains top market
Saudi Arabia continued to be Dubai’s primary source market as more than 5.8 million tourists stayed in Dubai hotels during the first half of 2014. India, the UK, the United States, Russia, China, Iran, Oman, Kuwait and Germany are among
Largest Indian contingent to exhibit at Saudi Agriculture 2014
A total of 48 Indian companies, stated to be the largest ever, will participate in Saudi Agriculture 2014 — the 33rd international agriculture, water and agro-industry trade show — being held at Riyadh International Convention and Exhibition Centre (RICEC) in
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