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
EU rules Starbucks and Fiat tax deals are illegal
The European Commission has ruled that Starbucks and Fiat benefited from illegal tax deals with the Dutch and Luxembourg governments, in cases with major implications for the taxation of multinational companies. Antitrust commissioner Margrethe Vestager said all firms must pay
Toyota recalls 6.5m vehicles globally over window defect
Toyota said it was recalling 6.5 million vehicles worldwide over a power window glitch that presented a fire risk, the latest in a string of such moves by the Japanese auto giant. In recent months, Toyota has recalled nearly 10
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
KAEC’s growth graph keeps rising with new investors
The rapid progress King Abdullah Economic City (KAEC) is making can be gauged from the list of its investors that is expanding by the day. In fact, new strategic partnerships that are being added from time to time have been
CMA may relax investor rules to join world indices
Saudi Arabia would be open to relaxing its rules on foreigners investing directly in its stock market to help it get included in global indices, said the chairman of the Saudi financial-markets regulatory agency, the Capital Market Authority. In his
Tata Steel to lay off 1,200 amid cheap Chinese imports
Manufacturer Tata Steel announced 1,200 job cuts in the UK, underscoring the damage caused by cheap Chinese imports and throwing a shroud over a state visit by Chinese President Xi Jinping designed to usher in a “golden era” of relations
Tadawul: Some petchem stocks continue rally
Saudi Arabia’s stock market fell on Monday after disappointing third-quarter earnings at several companies, while Egypt rebounded from two days of losses because of worries about currency depreciation. The main Saudi Tadawul All-Share index lost 0.4 percent as industrial materials
China economic growth hits lowest since financial crisis
China’s economy logged its worst performance since the global financial crisis, official figures showed Monday, with analysts warning it is likely to worsen and the government must do more to avert a sharp slowdown. Gross domestic product (GDP) in the
India bank chief calls for IMF action over monetary easing
The head of India’s central bank on Monday called for the International Monetary Fund to stop “applauding” the monetary easing policies of many developed countries. Reserve Bank of India governor Raghuram Rajan said in a speech that the IMF should
Samsung may move up Galaxy S7 launch to January
SAMSUNG is reportedly moving up the launch of its next flagship smartphone, the Galaxy S7, to January in order to ramp up competition with Apple in the high-end phone market, according to a report from CNET. Samsung finalized the design
Apple Music has 6.5 million paying subscribers
APPLE Music already has a total of 15 million subscribers, of which about 40 percent — 6.5 million — are paying for the service. Another 8.5 million users are on a three-month free trial. The figures were announced by Apple
Third Istanbul airport opening delayed until 2018
The opening of Istanbul’s third airport, a controversial multi-billion-dollar project expected to become one of the world’s busiest air hubs, has been delayed until 2018, Turkish President Recep Tayyip Erdogan said Monday. The facility had been scheduled to open on
Dubai GITEX Technology Week expected to draw 140,000 visitors
The 35th edition of GITEX Technology Week was inaugurated by Sheikh Hamdan bin Mohammed bin Rashid Al-Maktoum at Dubai World Trade Center. The five-day event is expected to draw more than 140,000 visitors from over 140 countries. More than 3,600
SABIC’s Q3 sales drop to SR37.3bn
The Saudi Basic Industries Corporation (SABIC) announced Sunday its third-quarter sales at SR37.3 billion, down from SR48.7 billion compared to the same period last year. SABIC, Saudi Arabia’s largest listed company, had earlier said its third-quarter net profit fell 9.4
MENA M&A value $33.7bn in first 9 months of 2015
Thomson Reuters, a leading source of intelligent information for businesses and professionals,has released the quarterly investment banking analysis for the Middle East region. According to estimates from Thomson Reuters/Freeman Consulting, Middle Eastern investment banking fees reached $480.5 million during the
Former VW boss Winterkorn quits as head of holding company
Former Volkswagen CEO Martin Winterkorn, who resigned in the wake of the emissions cheating scandal, is stepping down as head of the group’s Porsche SE holding at the end of the month, the Stuttgart-based group said. Winterkorn will hand over
IndiGo eyes up to $510m in major IPO
The operator of top Indian airline IndiGo is looking to raise up to $510 million in its initial public offering (IPO), according to sources, betting on an improved financial outlook helped by lower oil prices and surging passenger growth. That
Air France to go ahead with 2016 job cuts
Air France will go ahead as planned and cut almost 1,000 jobs in 2016 under the first part of a restructuring plan that triggered violent protests, the chief executive of Air France-KLM said. The remaining cuts planned for 2017 can
Loading ...
You must be logged in to post a comment.