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 »
Tag Archives: Economy
Egypt’s capital set to grow by half a million in 2017
Cairo’s population is set to grow by 500,000 this year, more than any other city in the world, adding to the pressure on an Egyptian economy struggling to recover from six years of political turmoil. Greater Cairo, a metropolitan area
Kuwait MPs fight back against govt price rise plans
A parliamentary panel in Kuwait on Sunday approved draft legislation calling for the scrapping of government plans to raise petrol and power prices to combat a budget deficit. The financial and economic affairs committee said in its decision that “no
India is yours if you have lost most of your possessions
By : Turki Al-dakhil “India is yours if you have lost most of your possessions.” This is a proverb our grandparents and parents often said in the Arabian Peninsula. They traveled East and West, from Egypt to India. The Gulf
Saudi Public Investment Fund to be world leader
The publically owned Saudi Public Investment Fund is looking set to become one of the world’s most powerful sovereign funds after a sudden burst deal making, UK daily the Financial Times has reported. The previously little known and generally inactive
Saudi Deputy Crown Prince Meets CEO of Japan’s Stock Exchange
Saudi Deputy Crown Prince Mohammed bin Salman, the Second Deputy Prime Minister and Defense Minister, met at his office in Riyadh yesterday CEO of Japan’s Stock Exchange Akira Kyota. During the meeting, they reviewed areas of cooperation and investment opportunities
Immunity for Saudi investments in US despite JASTA
Saudi investments in the United States will “enjoy” sovereign immunity and will not be affected by the Justice Against Sponsors of Terrorism Act (JASTA), the official Saudi news agency reported on Monday. The Governor of the Saudi Arabian Monetary Agency
New GCC bodies to boost economic integration
A consultative summit meeting of the Gulf heads of state and leaders approved here on Tuesday the creation of two apex bodies to accelerate economic integration in various fields by removing potential hurdles. They are “Commission of Economic and Development
Saudi Arabia announces restructure in several government bodies
Saudi Arabia’s King Salman announced a major reshuffle of his government on Saturday which saw longstanding ministers replaced and departments restructured and even split. Among the changes was the closure of a number of councils, commissions and committees, in what
Are we heading toward a global recession?
By : Sadek Al-Rikaby If you think that 2008 crises will not be repeated and banks are well hedged, you are wrong because we are living in fear of a real recession. The decline in oil prices by more than
Who benefits from restrictions on Lebanese banks?
By : Nayla Tueni Apart from the relatively stable security situation and unstable political situation, it is important to look at Lebanon’s deteriorating economy. The most profitable and productive sector is banking, which is suffering from strict rules that are
King Salman’s first year: The trio who led change in Saudi Arabia
Saturday marks one year since Saudi King Salman bin Abdulaziz took the throne, after the passing of his half-brother King Abdullah. Here’s an overview of King Salman, Crown Prince Mohammad bin Nayef, and Deputy Crown Prince Mohammad bin Salman –
The Fourth Industrial Revolution
By : Klaus Schwab We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind
Turkish lira slips to 3 per dollar, weakest since Oct
The Turkish lira weakened to a three-month low against the dollar on Wednesday as fears about China’s stalling economy and North Korea’s nuclear test shook investors already concerned about the independence of Turkey’s monetary policy. The lira broke through the
Turkey to relaunch EU membership bid with economic talks
European Union foreign ministers are set on Monday to revive Turkey’s efforts to join the bloc by agreeing to open talks on the EU’s financial rules, as part of a bigger deal to help Europe solve its migration crisis. Turkey’s
‘Billions of dollars’ smuggled out of Iraq during Maliki’s rule
The Iraqi central bank has taken legal action against several banks and customers who went against official instructions regarding the sale of hard currency between from 2012 to 2014, during former Prime Minister Nouri al-Maliki’s rule, the Anadolu news agency
Saudi advisory council to discuss land tax, MSCI inclusion
Saudi Arabia’s Shura Council plans to meet on Monday to discuss imposing a tax on undeveloped land, the official Saudi Press Agency reported on Thursday. The body advises the government on legislation. SPA did not give any details. Earlier this
Kuwait Emir urges reforms as income drops 60 percent
Kuwait’s ruler called on Tuesday for officials in the oil-rich state to seek alternative revenue sources and reduce public expenditure after state income dropped 60 percent due to a sharp slide in crude prices. Addressing parliament at the beginning of
Strategies to conserve electricity explored
Top Saudi economic experts have expressed strong warnings against continued oil consumption for electricity generation and water desalination. According to a statistics, about 4.2 million barrels of oil are consumed per day and the figure expected to increase to 9.5
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