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
Capital Market Authority expands Goldman Sachs license in Saudi Arabia
:: Saudi Arabia’s financial regulator, Capital Market Authority (CMA), has approved the request by Goldman Sachs to amend its business profile by adding “dealing as Principle, an Agent, an Underwriter, Custody.” A statement issued by CMA on Sunday said: “The
US formally launches probe of China’s intellectual property practices
:: The United States on Friday formally launched an investigation into China’s alleged theft of US intellectual property, a widely expected move following a call from President Donald Trump earlier this week to determine whether a probe was needed. The
India threatens Philip Morris with ‘punitive action’ over alleged anti-smoking violations
:: The Indian government has threatened Philip Morris International with “punitive action” over the tobacco giant’s alleged violation of the country’s anti-smoking laws, according to a letter sent to the company by the federal health ministry. The letter was prompted
Stocks stumble on Spain attacks
:: European stock markets sank Friday as traders sought haven investments such as gold following an attack in Barcelona that sent airline share prices down. Thursday’s deadly van attack in the Catalan capital compounded investors’ concerns over economic policy paralysis
China’s Lenovo warns of cost challenges as it sinks to Q1 loss
:: Chinese personal computer maker Lenovo Group warned of higher costs and margin pressure due to shortages of components like memory chips, as it posted its first quarterly loss in almost two years on Friday. Lenovo, which gave up its
Work on Grand Mosque expansion to resume
:: Saudi Binladin Group will restart work next month on the $26.6 billion expansion of the Grand Mosque in Mecca, nearly two years after work stopped in the wake of a crane collapse at the site that killed 107 people,
Egypt’s first bitcoin exchange to begin trading this month
:: Egypt’s first bitcoin exchange will go live later this month, the founders of Bitcoin Egypt said, linking the Middle East’s most populous country with a cryptocurrency that has surged in value in recent months. Many governments around the world
Egypt’s cabinet passes regulations for new investment law
:: Egypt’s cabinet passed regulations on Thursday for a new investment law aimed at attracting foreign investors to help the economy recover after a 2011 uprising. Investment Minister Sahar Nasr said the law will now be passed to Egypt’s administrative
Update on how the giant Dubai Creek Tower is shaping up
:: Announced in October of last year, Dubai Creek Tower, is now among the UAE’s skyscraper giants, despite not having its exterior skeleton ready yet. The company in charge of building the tower, Emaar, released new aerial photographs resembling the
Pre-school to university, one child’s education in the UAE to cost Dh1 mln
:: A recent study by Zurich Middle East has revealed that educating a single child in the UAE from pre-school through to university will cost an estimated one million dirhams. The figure comprises the cost of education for two years
Stung by boycott, some Qatari firms asking employees to take unpaid leave
:: Qatar’s feud with the four boycotting neighbors is making life harder for some foreign workers in the country. This is worsening the situation caused by layoffs due to low oil prices and a work-sponsorship system that restricts their movement.
Details emerge on when UAE expects to issue tax laws
:: United Arab Emirates expects to issue laws on value-added tax and excise tax in the third quarter of this year, and to issue regulations covering implementation of those laws in the fourth quarter, a senior UAE official said on
UAE’s Union National Bank opens Shanghai branch
:: Union National Bank (UNB), 50 percent owned by the Abu Dhabi government, has begun operations at its branch in Shanghai, becoming the first bank from the UAE to operate a branch in mainland China, the bank said on Tuesday.
Air Berlin files for insolvency after Etihad withdraws support
:: Air Berlin, Germany’s second-largest airline, filed for bankruptcy protection on Tuesday after key shareholder Etihad Airways withdrew funding following years of losses, leaving valuable runway slots up for grabs. The move offers Lufthansa and rivals a chance to acquire
Britain says Brexit talks should move to next phase
:: Britain said on Sunday that it wants talks with the EU to move on to the next phase, as it set out details of the future relationship it envisages with the bloc and senior ministers presented a united approach
Merkel’s rival slams car bosses in bid to revive campaign
:: German Chancellor Angela Merkel’s chief challenger in a September election, Martin Schulz, has launched a stinging attack on the country’s dieselgate-tainted car industry as he sought to turn around a flagging campaign. The leader of the Social Democratic Party
Saudi Arabia to launch joint trade council with Iraq
:: Saudi Arabia and Iraq are to launch a joint trade commission, the Saudi cabinet announced Monday. “The cabinet has decided to approve the establishment of the Saudi-Iraqi Coordinating Commission and to delegate the Saudi minister of trade and investments
Saudi budget: Revenues up, deficit down in second quarter
:: Saudi Arabia’s Finance Ministry announced the kingdom’s second quarter budget performance on Sunday, the highlight of which was a 6 percent rise in revenues from last year to SAR 163.9 billion ($43.7 billion). The ministry said the results confirm
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