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
Aster DM Healthcare opens its eight ACCESS Clinic in the UAE
Aster DM Healthcare, the leading healthcare conglomerate in the Middle East and India, has opened its eighth ACCESS clinic at Souk Al Kabeer, Bur Dubai. ACCESS Clinic, which has rapidly gained success since its establishment in 2012, offers quality and
Gold ends stabilize; silver rise on stockists buying
Gold ended steady at Rs. 28,400 per ten gram in the national capital on Friday in the absence of worthwhile activity even as it edged higher overseas. On the other hand, silver shot up on increased buying by stockists and
Steve Jobs ‘took our jobs’: Finnish PM
STOCKHOLM: Finnish Prime Minister Alexander Stubb has accused Apple’s late founder Steve Jobs of crushing his Nordic country’s job market by selling innovations that caught Finland’s companies off guard. “We had two pillars we stood on: one was the IT
Boeing outpaces Airbus in plane orders
PARIS: US aerospace group Boeing left European rival Airbus in its slipstream when booking new plane orders in the first half of the year, figures released by Airbus showed. Boeing had reported a net 499 new orders between January 1
Mobily’s support for healthy causes praised
The Ministry of Social Affairs has honored Mobily for supporting the Saudi Anti-Smoking Association “Naqa” and for its contribution to convey the association’s message to the targeted people all over the Kingdom. This took place during a ceremony that was
Quality of Saudi growth spreads to more sectors
JEDDAH: Saudi Arabia’s economic growth eased to an annual rate of 4.7 percent in the first three months of 2014 as labor market measures curbed activity in some sectors, but the expansion was still stronger and more widespread than growth
Arabtec to rein in lavish salaries to cut costs
Construction company has backing of key government shareholder ABU DHABI: The construction company at the center of Dubai’s stock market meltdown sought to calm investors on Wednesday by saying it still had the backing of a key government shareholder
Asian crude markets are adjusting to Iraqi risk
LAUNCESTON, Australia: Events seldom unfold in isolation and the recent surge in sectarian violence in Iraq appears to be leading to some shifts in Asian crude oil markets. Two things stand out as recent developments; firstly the increasing supply from
Kuwait expects oil price to ease
KUWAIT CITY: Kuwait Oil Minister Ali Al-Omair said he expects oil prices to ease following a rise prompted by unrest in oil-producing OPEC members Iraq and Libya. “Markets have witnessed a slight increase recently, but this rise will not last
Oil prices down on Libya port deal
NEW YORK: Crude oil fell about $1 on encouraging signs for supply from Libya and Iraq, with prices headed toward the lowest close in almost three weeks despite support from a big draw in US oil inventories. Libyan export capacity
Islamic banking rebrands in attempt to go mainstream
Islamic banking is based on core principles of the religion. So it is striking that some banks are removing the word “Islam” from their names — a sign of both the potential of Islamic finance to grow, and the obstacles
Gold posts longest rally since 2011 as rebound defies Goldman
NEW YORK: Gold posted a second straight quarterly advance, the first back-to-back gains since 2011, as increasing demand for a haven drove a surprise 2014 rally. The dollar reached a one-month low this week versus the euro as a gauge
Iranian oil exports drop in June, stay above Western limits
LONDON: Iran’s crude oil exports dropped in June after a spike in May, yet sales were still above the level allowed by an interim deal aimed at curbing Tehran’s nuclear program, according to sources who track tanker movements. Under the
Which US tech stocks are the best bargains now?
LONG BEACH, California: Many tech companies saw their high-flying stocks lose altitude this year. Leaders in social media like Twitter Inc. and LinkedIn Corp. fell more than 40 percent from their 2014 highs. Others, such as the retailer Amazon.com Inc.,
BNP Paribas fined $9bn for breaking US sanctions
PARIS: Leading French bank BNP Paribas said it would face no difficulty in absorbing the record multi-billion-dollar fine slapped on it by US authorities for breaking sanctions against pariah regimes. Under the deal, BNP Paribas accepted guilt and a number
Tadawul: Tourism, telecom stocks gain over 2%
The Saudi stock market bucked the three-day downward trend and turned green on Tuesday, reflecting a decent gain of 0.75 percent. The benchmark Tadawul All-Share Index finished to the upside at 9,584.31 points, adding 71.29 points for the entire day.
Qatar Airways CEO threatens to halt Airbus orders if slots denied
FRANKFURT: Qatar Airways could reconsider ordering Airbus aircraft if it could not obtain landing rights — or slots — at European airports, CEO Akbar Al-Baker told a German newspaper in an interview. “If they (European airport slots) are limited further,
Oil prices decline despite Iraq tension
LONDON: Global oil prices fell but tensions in the crude-producing Middle East will likely keep prices high, analysts said. Brent crude for delivery in August hit to a two-week low at $112.51 per barrel in early morning London deals. It
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