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
Haramain trains to carry 20m annually
The Haramain speed train project, which is in the final stages, will change the dynamics of pilgrim transportation between the two holy cities of Makkah and Madinah, said Gov. Prince Mishaal bin Abdullah. Speaking to reporters after inspecting the progress
11,751 private-sector jobs attract only 1,760 Saudis
The number of jobs allocated for Saudis, which were announced by the Training and Recruitment Center at the Riyadh Chamber of Commerce and Industry (RCCI), has reached 11,751 in 70 private sector firms, but only 1,760 job seekers have responded
IMF thumbs up to KSA
Saudi Arabia has held 18th position in countries having low unemployment rates in 2013, said a report issued by the International Monetary Fund. Three years ago the Kingdom’s position was 27. Ibrahim Badawood, managing director of ALJ Community Initiatives, described
Less Saudization urged to retain glitter in gold
A study conducted by the Riyadh Chamber of Commerce and Industry has called for reducing the Saudization rate in the gold and jewelry sector from 100 to 50 percent to save the industry from further losses and protect the interest
New GCC regulatory system to fight fake electronic items
A set of new standards and specifications for electric devices has been drawn up compatible with those standards applied in the GCC (Gulf Cooperation Council) and Yemen, a senior official in a GCC body told Al-Eqtisdiyah daily. The new regulatory
11 expats arrested for copper cable theft
The Riyadh Police has arrested 11 members of a gang of Pakistani nationals who stole copper cables from various stores in the industrial areas in the capital. The accused were staying in Riyadh and used to store their stolen goods
100,000 fake cosmetic goods seized
Field inspection teams from the Ministry of Trade and Industry recently cracked down on immigrant laborers for storing 100,000 fake cosmetics of popular brands inside old homes in the neighborhood of Al-Deira in Riyadh. The inspectors identified a group of
Al-Ahsa building cable car, bridges
The Al-Ahsa Municipality has started construction on its cable car and bridges project in the Al-Shuba Mountain Park to help boost tourism and create jobs for Saudis. Deputy Mayor of Al-Ahsa Abdullah Al-Arfaj said the project includes cable cars that
Need for trained Saudis in sales and marketing
There is a strong need to train Saudi youngsters in the sales and marketing field, as this particular sector is mostly manned by foreign workers, according to a Saudi market analyst. Citing statistics from the Asharqia Chamber, Mohammed Al-Homeidy, a
Alfaisal University inks deal to promote student interest
The Riyadh-based Alfaisal University (AU) has inked here recently a strategic partnership with the Australia-based International English Language Testing System (IELTS) to become the official IELTS testing center in the region. In a statement, Faisal Al- Mubarak, AU provost and
US treasury secretary to hold talks on Tuesday
US Treasury Secretary Jacob J. Lew will be in the Kingdom on Tuesday. According to a statement issued by the US Embassy in Riyadh on Saturday, Lew will arrive in Jeddah on Monday and hold official talks the following day.
Midday work ban comes into effect
The midday work ban in the Kingdom comes into effect Sunday, the Labor Ministry said on Saturday. The three-hour work ban from 12 noon to 3 p.m. will continue until Sept. 15, it added. The ministry said workers at oil
Female security guards a boon to public security
Ever since the Ministry of Labor began implementing a royal decree in early 2012 that banned men from working in stores that sell lingerie, cosmetics and other goods exclusively marketed to women, job opportunities for Saudi women have increased exponentially.
EEU offers new opportunities for foreign investors in Kazakhstan
BOROVOYE. KAZINFORM – The Eurasian Economic Union will create new opportunities for investors in Kazakhstan, believes President of the country Nursultan Nazarbayev. Today, President Nazarbayev has chaired the 27th regular session of the Foreign Investors Council in Borovoye resort. “Amid
Iraq unrest drives up oil, dollar
NEW YORK: Escalating violence in Iraq drove crude oil and the dollar higher on Friday while damping the appetite for global equity markets, even as bullish news from the US tech sector lifted stocks on Wall Street. Brent crude edged
CEO pay up 10-fold since 1978
WASHINGTON: Pay for chief executives of US companies has soared nearly 10-fold over the last 35 years to an average of $15.2 million in 2013, according to a study released Thursday. Total compensation, including bonuses and stock options, jumped 937
EU commissioner slams ‘incomplete’ single euro currency
BRUSSELS: The EU’s employment commissioner sharply criticized the “incomplete” single euro currency system on Friday, arguing it undercuts member states’ efforts to fight the economic crisis. Laszlo Andor’s comments, made in a speech delivered in Berlin, represent a rare attack
Are Asia’s crude oil buyers too relaxed over Iraq?
LAUNCESTON, Australia: Have Asia’s oil buyers and traders become so inured to supply disruptions that the potential disintegration of the world’s fourth-largest crude exporter barely causes a ripple in regional markets? The stunning victories of the hardline Islamic State in
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