Saudi Crown Prince, US Secretary of Defense discuss troop deployment

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 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 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 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 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 Arabia to exceed renewable energy targets

Turki al-Shehri

:: Saudi Arabia aims to exceed its target to generate 9.5 gigawatts of electricity from renewable energy annually, to highlight its long-term commitment to green energy, a senior government official said. “We plan to exceed 9.5 gigawatts,” Turki al-Shehri, head

Saudi Arabia signs cooperation deals with China on nuclear energy

:: Saudi Arabia and China are to cooperate on nuclear energy projects following discussions between the two countries this week on ways to support the kingdom’s nuclear energy program, state news agency SPA reported. Saudi Arabia has been for years

Foreign visitor arrivals in Turkey rise 46.36 percent in July

:: The number of foreign visitors arriving in Turkey rose 46.4 percent in July to 5.08 million, marking the sharpest rise in 13 years, data from Turkey’s Ministry of Culture and Tourism showed on Friday. The rise – the highest

Al-Falih inaugurates Forum in Jeddah

Khalid Al-Falih

:: Minister of Energy, Industry and Mineral Resources Khalid Al-Falih pointed to closer economic ties with China in his address to the Saudi-Chinese Investment Forum. Al-Falih said the joint Saudi-Chinese Commission had worked on harmonizing Vision 2030 and the Chinese

At Jackson Hole, Yellen defends post-crisis regulations

Chair Janet Yellen

:: Federal Reserve Chair Janet Yellen on Friday defended regulations put in place after the 2008 financial meltdown, saying they promoted both stability and economic growth. The remarks came during a much anticipated address at an annual economists’ symposium at

Saudi to open health, education sectors to full foreign ownership

:: Saudi Arabia will allow foreign investors to take 100 percent ownership of companies in its health and education sectors, the head of the kingdom’s investment authority told Reuters. It is the latest move by the country to gradually ease

Man City owners buy stake in Spanish side Girona FC

:: Manchester City’s Abu Dhabi ownership expanded its portfolio of global clubs on Wednesday by investing in Girona FC, which is playing in Spain’s top league for the first time this season. City Football Group, of which English side Man

Saudi Arabia, China plan joint $20 billion investment fund

:: Saudi Arabia and China plan to establish and operate jointly a $20 billion Investment fund, sharing costs and profits on a 50:50 basis, Saudi Energy Minister Khalid al-Falih told Reuters on Thursday. Falih was speaking on the sidelines of

Saudi Arabia’s new airline to target young, tech-savvy travelers

:: Saudi Arabian Airlines’ low cost carrier will start flights next month, aiming to carve out a new market among the country’s young, tech-savvy population. Flyadeal, a subsidiary of the state-controlled holding company that also owns national carrier Saudia, will

UAE excise tax to be effective from October 1

:: The UAE’s Ministry of Finance has said that the excise tax law will be effective from October 1 in the country. “The tax shall impact all excise goods consumed inside the country, including all the country’s free zones and

Middle East hotel industry performance unimpressive in July

:: The Middle East hotel sector recorded an unimpressive performance in July after dips across three industry performance indicators, according to industry tracker STR. Occupancy rates across the Middle East dropped 2.8 percent to 56 percent, while average daily rate

Sheikh Mohammed bin Rashid unveils blueprint for Dh5.5 billion Dubai Food Park

:: Sheikh Mohammed bin Rashid Al-Maktoum, the Vice President and Ruler of Dubai, has unveiled the blueprint for Dubai Food Park, which aims to raise the emirate’s position as the region’s leading food re-export hub. To be developed at a

SAMA report highlights improving financial stability in Saudi Arabia

:: The report of the Saudi Arabian Monetary Agency (SAMA) revealed an improvement in key indicators in the Saudi economy. The data published by SAMA in the Financial Stability Report included non-performing loans to the construction, construction and trade sectors

Pressure on Qatari banks following outflows of non-domestic deposits

:: Qatari banks’ funding and liquidity are under varying degrees of pressure from outflows of non-domestic deposits and interbank borrowings, after several Arab countries severed diplomatic and logistical ties with Qatar in June, the latest report from Fitch Ratings says.

Tunisia’s tourism revenues up 19 percent as more Europeans return

:: Tunisia’s tourism revenues have risen 19 percent so far this year, reflecting a recovery in a vital sector crippled two years ago by attacks on foreign holidaymakers. Tourism Minister Salma Loumi said 4.58 million foreign tourists visited the North

Qatar injects $6.9 bln in one month to offset the outflow of deposits

:: Qatar’s Central Bank has revealed that Doha has pumped nearly $6.9 bln in local banks last month, according to the Reuters news agency. The Central Bank took this action due to the decline of residents’ and private sector’s deposits

Lebanese president signs public sector pay rise and tax hike laws

:: Lebanese President Michel Aoun signed off on public sector wage increases and related tax hikes on Monday, the national news agency NNA said. Aoun had held off ratifying the two laws since parliament approved them last month, amid concerns

Know the 7 products that Saudi Arabia has banned from exporting

:: Zamzam water is among seven products that are prohibited from being exported from Saudi Arabia reported an article from Al Watan Online. The Saudi Exports Development Authority has asked project and company owners to be aware of seven products

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