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
Deutsche Bank boss calls on ECB to halt cheap money
:: Deutsche Bank chief executive John Cryan has called on the European Central Bank to change course on providing cheap money, warning he sees price bubbles in stocks, bonds and property. “The era of cheap money in Europe should come
The numbers that prove the dire situation of Qatar’s economy
:: Three months after the Gulf crisis broke out, Qatari Emir Sheikh Tamim decided to green-light the the largest commercial port in the country, named Hamad Port, pushing its official opening date to Monday. Since June, political ties between Qatar
Saudi Arabia boosts agriculture ties with UN
:: A Saudi delegation has met with the UN’s International Fund for Agricultural Development (IFAD) in an effort to boost ties and explore how it can support the Kingdom’s economic diversification plans. Among the topics discussed were Reimbursable Technical Assistance
Pakistan’s loss-making national carrier appoints new CEO
:: Loss-making Pakistan International Airlines (PIA) on Wednesday named Musharraf Rasool Cyan as its new chief executive, entrusting him with turning around the national carrier’s fortunes after a turbulent year. Cyan, who PIA described as a ‘professional technocrat’, will face
Saudi economic gauge sees biggest order growth jump since April
:: Saudi Arabia’s non-oil private sector has seen the strongest improvement in new orders since April, according to the latest Emirates NBD Saudi Arabia Purchasing Managers’ Index (PMI). Bolstered by an increase in export orders, the Kingdom’s companies reported a
Doha Bank CEO: In talks with foreign lenders to raise debt
:: Doha Bank is talking to foreign lenders about the possibility of raising long-term funding either through a private placement or public debt sale, according to Bloomberg. In an interview with the channel Monday, the bank’s Chief Executive Officer Raghavan
Egypt signs memo with China on $739 mln for rail link to new capital
:: Egypt signed a memorandum of understanding with China on Tuesday for Beijing to finance a rail link worth about $739 million serving a new capital the north African country is building, the Egyptian investment minister said. The link will
China’s Xi says BRICS must promote open world economy
:: The BRICS group of emerging economies must promote trade liberalization and an open world economy, Chinese President Xi Jinping said at a business meeting on Sunday at the start of a three-day summit being held in southeastern China. The
UAE fund in tug of war over Georgia hotel at center of fraud probe
:: The Ras Al-Khaimah Investment Authority (Rakia) has been drawn into a legal tug of war over a hotel in Georgia that is at the center of a $1.5 billion international fraud probe. The Sheraton Metechi Palace Hotel in Tbilisi
Indian Prime Minister Modi drops ministers as economy slips
:: India’s Prime Minister Narendra Modi on Sunday reshuffled some of his key minister’s portfolios to refurbish his government’s image, which has been dented by falling economic indicators. Modi named Suresh Prabhu as the new commerce and industry minister and
Latest Air Berlin bidder looks to focus on holiday routes
:: A German businessman joined the field of potential bidders for insolvent Air Berlin on Monday, proposing to focus on only a few routes to holiday destinations. Air Berlin, Germany’s second-largest airline, filed for bankruptcy protection in August after shareholder
Cooler temperatures in Sudan spark spending frenzy
:: Trade in the Sudanese capital Khartoum has increased significantly, as falling temperatures in the last week created a frenzy in the market. Shops, parks and entertainment venues were bursting with people due to the steep decline in temperature in
Despite the downgrade, Qatar refuses to recognize losses
:: Qatar’s Ambassador to the Republic of Venezuela Batal Mojab Al Dosari said in response to Fitch’s report on the expected decline in net foreign assets that Doha plans to increase its investments globally and does not intend to liquidate
Indian government rushes to defend bank note ban as doubts grow
:: India’s government scrambled to defend its attempt to crack down on the shadow economy by banning high denomination banknotes, after data showed almost all of the abolished currency had made it back into the banking system. Prime Minister Narendra
GE’s new CEO preparing job cuts in bid to reduce costs
:: General Electric Co is making plans to significantly reduce corporate staff in an effort to cut spending and boost profits under its new chief executive, and the company already has halted hiring in certain technology positions, a person familiar
India exceeds expectations for first month of GST collection
:: India collected nearly $14.5 billion from a new goods and services tax in its first month of operation, well beyond government estimates, according to official data. The government promised that the national tax, which replaced more than a dozen
Singapore’s Changi is the face of future airports
:: Passengers’ baggage is collected by robots, they relax in a luxurious waiting area complete with an indoor garden before getting a face scan and swiftly passing through security and immigration — this could be the airport of the future.
British Airways calls on UK to tackle long airport queues
:: British Airways (BA) has called on UK border authorities to address “serious inefficiencies” causing long delays at airport immigration controls ahead of Britain’s exit from the European Union. BA said difficulties processing passengers after a new electronic gate system
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