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
SABIC, SK Global Chemical open new industrial facility
SABIC and South Korean petrochemical company SK Global Chemical inaugurated a new industrial plant to manufacture a range of high-performance polyethylene products using the cutting-edge Nexlene Solution Technology. The ceremony was attended by SABIC Chairman Prince Saud bin Abdullah bin
Obama ‘confident’ in TPP pacific trade deal
United States President Barack Obama said on Tuesday that he was confident he could make a case for the ambitious TPP Pacific free-trade deal as he began pressing for its ratification by Congress. A day after 12 countries reached agreement
Uber problems as car-sharing service makes global push
Uber Inc’s aggressive global expansion is looking costlier and riskier than ever as the company struggles with regulatory and competitive obstacles in major markets. Just last week, the company faced a police raid on its European headquarters in the Netherlands,
Saudi tycoon Alwaleed bin Talal raises stakes in Twitter
Saudi tycoon Prince Alwaleed bin Talal and his Kingdom Holding Company announced on Wednesday they have increased their stake in Twitter Inc. to become the firm’s second-largest shareholders. They raised their holdings over the past six weeks to 34,948,975 shares,
New father victim of robber’s bullets
A Saudi man who had just completed the Haj and become a father earlier this year was one of the two people killed in a failed attempt to rob a bank in Jazan on Tuesday. Abdullah Kinani has left behind
Ruling threatens Facebook data transfers
Facebook and other Internet giants could be barred from sending European citizens’ personal information to the US after the EU’s top court on Tuesday struck down a key transatlantic data deal in the wake of the Edward Snowden scandal. The
World prices seen too low to support US shale oil output
US oil production will start to decline soon unless oil prices rise substantially, oil executives said, saying lower production could pave the way for a spike in the market in future if fuel demand increased. Delegates at the Oil and
Toyota unveils its vision for self-driving cars
Toyota unveiled its vision for self-driving cars in a challenge to other automakers as well as industry newcomer Google Inc., promising to start selling such vehicles in Japan by 2020. Toyota Motor Corp. demonstrated on a regular Tokyo freeway Tuesday
Islamic halal economy set to grow, say experts
The halal economy is set to grow as the world’s Muslim population expands and more products are certified to comply with Islamic sharia law, experts said on Tuesday. The range of halal products, from goods not containing pork or alcohol
Modi promises German firms tax reforms as Merkel visits
Prime Minister Narendra Modi urged German companies Tuesday to do business in India and promised tax and other economic reforms, on the final day of Chancellor Angela Merkel’s visit. After the leaders toured a German engineering factory in India’s technology
Microsoft unveils new smartphones, tablet and fitness tracker
Microsoft Corp. has unveiled a new line of Lumia smartphones, a new Surface Pro tablet and an updated version of its wearable fitness tracker, Microsoft Band, that will run on Windows 10, its latest operating system. Windows 10, launched in
Al-Naimi says OPEC’s market share will rise
Petroleum and Mineral Resources Minister Ali Al-Naimi believes economic producers will prevail over higher-cost suppliers and OPEC’s share of the market will rise, India’s Economic Times newspaper reported on its website. In comments suggesting Saudi Arabia, is sticking to its
China in drive to redraw global financial map
The “One Belt & One Road” initiative, proposed by China, will push global trade and investment to the limits of sky besides creating the largest economic corridor of the world, said Liu Yunshan, a top leader of the Communist Party
Modi and Merkel agree to fast-track business deals
Narendra Modi has hailed Germany as a “natural partner” of India after signing deals with Angela Merkel on clean energy and speeding up the European powerhouse’s investment in Asia’s third largest economy. The German chancellor held lengthy talks with the
British economy seen slowing after slide in services activity
Britain’s recovery is losing steam as worries about the world economy grow, consumers curb spending and manufacturing weakness spreads to the dominant services sector, a major business survey has suggested. Financial data company Markit said its monthly all-sector purchasing managers’
Saudis spend SR400m in Bahrain during Eid
Statistics indicate that more than 300,000 Saudi citizens visited Bahrain via the King Fahd Bridge during the first three days of Eid Al-Adha. Experts in the tourism and traveling industry estimate that Saudi families spent more than SR400 million during
Iran ministers warn of fresh economic crisis
Four Iranian government ministers have broken ranks to warn of a possible economic crisis because of the plunge in prices of oil and other commodities, underlining the country’s patchy recovery. In a letter sent to President Hassan Rowhani that was
India-Japan-US Trilateral: India’s Policy For The Indo-Pacific
In an interesting first, the foreign ministers of India, Japan and the US had a trilateral dialogue on the sidelines of the UN General Assembly on 29 September 2015. The foreign ministers underlined the strategic convergence of their interests in
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