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
Investment scope in the Kingdom is broad and limitless: Al-Qassabi
Majid Al-Qassabi, minister of Commerce and Investment, told the members of the visiting Joint Bosnian-Serb delegation here on Monday that the investment scope in the Kingdom is broad. The minister was addressing members of the visiting delegation at the ministry’s
German delegation, JCCI in talks to boost economic ties
Senior officials of the Jeddah Chamber of Commerce and Industry (JCCI) on Tuesday received a high-level German delegation headed by Christian Wulff, former president of Germany and head of the Euro-Mediterranean Economic Cooperation Organization. The two sides discussed ways of
Saudi Cabinet approves VAT measure
The Saudi Cabinet approved on Monday the Unified Agreement for Value Added Tax, which will be implemented throughout the Gulf Cooperation Council (GCC) starting next year. In a session chaired by King Salman at the Al-Yamamah Palace in Riyadh, the
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
Sun sets on Angolan dream for Portuguese expats
When Portugal was suffering in the depths of the global financial crisis, Marina Pereira followed thousands of her compatriots and took a job in Angola as it rode the wave of an oil boom. But now the collapse in global
India looks to ease pain from cash crunch in budget
India’s government is expected to ramp up spending in its latest budget this week, seeking to ease the pain from a ban on high-value bank notes that slammed the brakes on the world’s fastest-growing major economy. Ahead of a series
Oracle denies claims linking recent layoffs to Trump
“As the global market for Oracle’s Solaris [operating system] shrinks, the company is now refocusing on cloud services to better adapt to changes,” Li Yingyan, the public relations manager at Oracle’s Beijing office, told the Global Times on Wednesday. Li’s
Saudi Arabia to grant business visa within 24 hours
Saudi Arabia has adopted a new mechanism to grant business visas for foreign investors within 24 hours. Foreign Ministry official Usama Nugali confirmed the move to Arab News on Sunday. The new measure is aimed at allowing foreign investors to
Saudi budget to be announced today
Saudi Arabia will today unveil its annual budget statement, which is expected to outline a series of tough measures designed to put the Kingdom on the road to achieving financial balance by 2020. Subsidy cuts, rationalized spending and new fees
PM May seeks to soothe Brexit fears at business summit
Prime Minister Theresa May has promised to boost research investment as she sought to reassure business leaders nervous about the “cliff-edge scenario” of Britain leaving the European Union. May told a Confederation of British Industry (CBI) conference that her government
KKIA Terminal 5 begins operations tonight
The Saudi Arabian Airlines (Saudia) has completed all preparations enabling it to manage all domestic flights at King Khaled International Airport (KKIA) in Riyadh at Terminal 5, starting midnight Sunday. The first departing flight, No. 1677 to Abha, will be
Hotels woo guests to book directly online with discounts
Hotels are getting more aggressive in their fight to get travelers to book reservations directly with them instead of through online travel agencies such as Expedia and Priceline. Hyatt Hotels Corp. on Monday became the latest chain to offer guests
Private firms launch job drive to recruit young Saudis
A number of private sector companies in collaboration with the public sector have launched a drive on Sunday with an aim to recruit young unemployed Saudis. The campaign titled “Employment Path” is spread over all regions of the Saudi Arabia
Saudi-Egyptian business forum mulls economy based on innovation
Participants in the Saudi-Egyptian Business Opportunities Forum stressed the importance of commercial ties between the business communities in the Kingdom and Egypt. They also emphasized the bilateral cooperation in boosting economic and trade relations between the two governments, Saudi Press
Turkish Feb current account deficit narrows on oil price drop
Turkey’s current account deficit, long regarded as a weak point in the economy, narrowed more than expected in February as lower oil prices reduced the country’s energy import bill. The deficit fell to $1.785 billion in February from $2.338 billion
Warren Buffett’s Berkshire Hathaway Q4 profit rises 32%
Warren Buffett’s Berkshire Hathaway Inc. said fourth-quarter profit rose 32 percent, helped by improved results in its insurance operations and higher gains from investments and derivatives. Net income rose to $5.48 billion, or $3,333 per Class A share, from $4.16
Yahoo forms panel to explore strategic options
Yahoo Inc. said its board has formed a committee of independent directors to explore strategic alternatives, alongside its plan to revamp and spin off its Internet business. The move comes two days after Bloomberg reported activist investor Starboard Value LP
China yuan surges after central bank chief’s comments
China’s yuan currency surged more than one percent against the dollar, its biggest rise in over a decade, after the central bank chief said there was no reason the beleaguered unit should fall further. The yuan stood at 6.4944 to
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