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: Economy
Kuwaiti fund to sell Areva shares in bid, stay away from nuclear – sources
:: Kuwait Investment Authority (KIA) will sell its nearly five percent stake in Areva to the French state as the nuclear group is delisted and will stay away from nuclear investments for now, sources familiar with the situation told Reuters.
Toyota, Mazda plan $1.6 bln US plant, to partner in EVs
:: Japanese automakers Toyota Motor Corp. and Mazda Motor Corp. plan to spend $1.6 billion to build a joint-venture auto manufacturing plant in the US – a move that will create up to 4,000 jobs, both sides said on Friday.
Qatar Airways reverses decision to buy into American Airlines
:: Qatar Airways will not proceed with its proposed financial investment in American Airlines Group Inc, reversing an earlier decision to build a stake of up to 4.75 percent in the US carrier. “Further review of the proposed financial investment,
Islamic bank Ithmaar exploring sale of stake in Bahrain-based BBK – sources
:: Bahrain’s Ithmaar Holding is exploring the sale of its 25.4 percent stake in BBK BSC, which has operations in Bahrain and Kuwait, India and Dubai, sources familiar with the matter said. The stake is valued at about $250 million
Moody’s gets license to rate Saudi Arabia’s corporates
:: Moody’s has obtained a license to operate rating activities in Saudi Arabia, joining the two major foreign credit rating agencies Fitch and Standard & Poor’s, as the country seeks to develop its corporate debt capital markets. Saudi Arabia’s corporate
5 key points of the new UAE tax procedures law
:: Companies in the United Arab Emirates will be required to keep accurate records of their businesses for a period of five years according to the Tax Procedures Law issued by President of the UAE, Sheikh Khalifa bin Zayed Al
Why Kuwait will impose fees on the longest bridge in the world
:: It is only a year until the opening of Sheikh Jaber Al-Ahmad Bridge, which is considered one of the longest bridges in the world, with a total length of 43.14 km. The causeway is expected to be inaugurated by
Oman takes $3.55 bln China loan to cover budget deficit
:: Oman on Wednesday announced it has taken out a $3.55-billion loan from Chinese banks to cover its budget deficit for the current fiscal year. The sultanate had originally planned to raise $2 billion on the Chinese market but raised
ICAO rejects Qatar’s request to condemn boycotting countries
:: The International Civil Aviation Organization (ICAO) Council has held an extraordinary session following a complaint by Qatar, in accordance to article 54 council convention. Saudi Arabia was represented by a delegation headed by Abdul Hakim Bin Mohammed Al Tamimi,
Chinese firms to invest $300 mln in Abu Dhabi industry zone
:: Five Chinese companies will start operations in Abu Dhabi’s industrial zone with an initial investment of $300 million in a boost for the oil-rich emirate’s economic diversification plans. The companies, from Jiangsu province on China’s east coast, are involved
Is the US considering some sanctions on Venezuela oil sector
:: The Trump administration is considering imposing some US sanctions on Venezuela’s vital oil sector in response to Sunday’s election of a constitutional super-body that Washington has already denounced as a “sham” vote, US officials said. The measures, which could
Austrian minister: Fighting tax evasion will be EC presidency priority
:: Pushing forward European and international measures to prevent profit shifting and international tax fraud will be a top priority for Austria’s European Council presidency in the second half of 2018, Austrian Finance Minister Hans Joerg Schelling said on Saturday.
Dubai visitor numbers rise by more than 10 percent in first half of 2017
:: The number of foreign tourists visiting Dubai in the first half of 2017 rose by 10.6 percent to 8.06 million, Dubai’s tourism department said on Sunday, with the emirate proving particular popular with Indians. Tourism is a key industry
Sri Lanka signs $1.1 bln China port deal amid local, foreign concerns
:: Sri Lanka signed a long delayed $1.1 billion deal on Saturday to lease its southern Hambantota port to China ignoring an appeal by opposition parties to debate the pact in parliament. The deal was signed between the two state
IMF: Countries must avoid protectionism ‘at all costs’
:: The International Monetary Fund warned world leaders Friday to avoid resorting to protectionist measures “at all costs” due to the damage it would cause to their own and the global economy. At a time when United States President Donald
Egypt’s new capital among world’s ‘top urban mega-projects’
:: Egypt’s new capital mega-project has been listed as one of the biggest eight urban projects that will transform cities across the world by 2030, according to a recent report. The Business Insider listed the project to establish a “New
Amazon’s Jeff Bezos becomes world’s richest, unseating Bill Gates
:: Amazon.com Inc Chief Executive Jeff Bezos has unseated fellow tech billionaire Bill Gates as the richest person in the world, profiting from the e-commerce company’s meteoric stock rise to reach a fortune of $90.6 billion, Forbes reported. Amazon shares
Tour operator Thomas Cook back to Tunisia after UK travel advice shifts
:: Tour operator Thomas Cook will restart holidays in Tunisia now that Britain has softened its travel advice to the country, the firm’s boss said on Thursday. The move, which came as the company reiterated its full-year outlook, should be
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