Saudi King and Crown Prince Condole Kuwait
In a heartfelt gesture of solidarity, Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salman expressed their deepest condolences to the Emir of Kuwait on Monday following the passing of Sheikh More »
Putin and Abbas Discuss Gaza Crisis
Russian President Vladimir Putin is set to meet with Palestinian President Mahmoud Abbas on Tuesday during Abbas’ visit to Russia. Arriving on Monday, Abbas aims to discuss the ongoing Gaza conflict with More »
Saudi Arabia Voices Strong Support for Gaza Peace Initiatives
Saudi Arabia has firmly aligned itself with the recent joint statement made by President Joe Biden of the United States, President Abdel Fattah El-Sisi of Egypt, and Sheikh Tamim bin Hamad Al-Thani, More »
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 »
Category Archives: Commerce
Saudi Aramco, Hyundai Heavy Industries eye new opportunities
Saudi Aramco, the world’s leading integrated energy and chemicals company, and Hyundai Heavy Industries (HHI) Group signed a general memorandum of understanding (MoU) to jointly collaborate on business development opportunities in Saudi Arabia. Amin H. Nasser, president and CEO of
Lenovo reports Q2 loss following cuts
Chinese technology giant Lenovo said it saw a loss for the second quarter following a restructuring plan, despite stronger sales in its mobile business. However, the loss reported by the world’s biggest personal computer maker was narrower than analysts’ forecasts.
Apple confident ahead of European Union tax judgement
Apple chief executive Tim Cook said he was feeling “pretty good” ahead of the European Union’s judgement on its Irish tax arrangements, as the company announced 1,000 new jobs in Ireland on Wednesday. Ireland’s tax arrangements with the US tech
Japan’s first passenger jet makes maiden test flight
Japan’s first passenger jet made its maiden test flight Wednesday, a landmark in a decade-long program to launch the plane aimed at competing with Brazilian and Canadian rivals in the global market for smaller aircraft. About half a century after
Qatar Airways increases capacity on Dubai, Abu Dhabi, Dammam routes
Qatar Airways is increasing its capacity to Dubai, Abu Dhabi and Dammam with extra wide-body A330s, B787s and B777s commencing services to Abu Dhabi as of Nov. 1and Dubai and Dammam from Dec. 1. Qatar Airways Group Chief Executive Akbar
Free net-based phone services may be stopped
Telecom companies operating in Saudi Arabia intend to form an alliance to prevent people from using free Internet telephone services as part of their joint efforts to increase their annual revenue from phone calls, Al-Watan Arabic daily reported on Wednesday.
Maggi back on Indian shelves after five months
Nestle’s hugely popular Maggi noodles returned to shelves in India on Monday five months after the government banned them saying lead levels were too high. “We are delighted to announce that your beloved Maggi noodles is back. The roll out
75% food industries ‘cannot be monitored’
A whopping 75 percent of food industries and distribution centers in the Kingdom are not under surveillance or monitoring because they are located in remote areas. The startling revelation was made by the Saudi Food and Drugs Authority (SFDA) in
Al-Assaf: Arab, South America hold huge trade potential
Finance Minister Ibrahim Al-Assaf said here on Sunday that there is a strong need to intensify trade cooperation between the Arab and South American countries in view of the promising opportunities available in these countries. The minister was addressing more
China’s trade surplus rises 36% to record $61.64bn
China recorded its highest trade surplus on record last month, official data showed Sunday, as plunging imports highlighted the country’s continued struggle to boost domestic demand and prop up sagging growth. The disappointing figures show how Beijing is struggling to
KSA signs tourism pact with Serbia
The Kingdom signed a memorandum of understanding (MoU) with the Republic of Serbia for cooperation in cultural heritage promotion as well as tourism. The MoU was signed in Belgrade, the Serbian capital, by Prince Sultan bin Salman, president of the
Gold’s outlook brightens on China, India in medium term
With gold falling to a seven-week low it may seem an odd moment to outline the case why the gloom over the yellow metal may finally be starting to lift. Spot gold dropped to $1,103.90 an ounce on Thursday, the
Maison opens in Jeddah
Maison Boucheron, one of the famous luxuries jewelry houses, opened its Boutique at El-Khayyat Center in Jeddah (Nov. 4) and the launch of the first boutique in Saudi Arabia was well attended by prominent figures, woman and journalists. Maison Boucheron
Souqalmal.com beats competition to win
Souqalmal.com has been named Online Business of the Year at the recently announced Gulf Capital SME Awards 2015. Souqalmal.com was also highly commended in two other categories, the Gulf Capital Business of the Year and Entrepreneur of the Year. The
Allergan CEO Saunders warms up to drug discovery
Brenton Saunders, the whiz-kid pharmaceutical executive with a reputation for being wary of the costs of early-stage drug development, says he’s open to new ideas from outside and is now warming up to investing in drug discovery if it makes
Taqeem cites important role of valuation in Kingdom
Minister of Commerce and Industry Tawfiq Al-Rabiah has said that the Saudi Authority for Accredited Valuers (Taqeem) has been playing an important role in the Saudi economy since its establishment. “Taqeem regulates and supervises the valuation profession, which is involved
Iran set to ban consumer goods ‘symbolizing American presence’
Iran is banning the entry of U.S. consumer goods, the commerce and industry minister said on Thursday, as the country prepares for a lifting of economic sanctions. “In order to boost national production, it is necessary… to stop entry of
Nissan Maxima 2016 ‘4-door sports car’ stirs car buffs in KSA
Following its regional launch in the Middle East, Nissan has unveiled the all-new, game-changing Nissan Maxima 2016 in the Kingdom of Saudi Arabia. The completely redesigned 8th generation model is the sportiest, most powerful Maxima ever, and is set to
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