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
KSA’s first marine park to be built at Dhahban
Jeddah is building the first marine park at Dhahban on the shores of the Red Sea, 40 km from the city. The groundbreaking project, which was under study for the last four years, was announced by the Jeddah Municipality on
Jeddah to ban entry of heavy trucks into city
Traffic authorities in Jeddah will soon ban heavy trucks loaded with hazardous materials from entering the city due to the risks they pose to public safety, Jeddah Traffic Department spokesperson Gen. Zaid Al-Hamzi told Arab News on Wednesday. Al-Hamzi said
Professional bodies to boost tourism
The Saudi Commission for Tourism and Antiquities (SCTA) is optimistic that the country’s professional tourism bodies would help grow the industry. Faisal bin Mansur Al-Fadel, the SCTA’s director general for legal affairs, said the private sector would play an important
High electricity bills irk Jeddawis
“The electricity bill was for more than SR400 although we have only four rooms and a hall,” said Mazen Abdel Jawad, who usually pays SR200-300 a month. Air conditioning units consume more than 80 percent of the electric bill, he
Free glucometers for diabetics
The Ministry of Health will distribute 800,000 blood glucose meters free-of-charge to diabetics within the next three years to help them regularly monitor their blood sugar rates. Officials at the ministry revealed the distribution plan during a press conference held
Singapore Islamic finance bright
SINGAPORE – Singapore’s prospects in Islamic finance look bright, with more funds establishing themselves here to tap the Islamic debt market, the Monetary Authority of Singapore’s (MAS) top executive said on Tuesday. “Singapore is the only non-Muslim majority country among
KSA to excavate 500,000oz of gold
MADINAH – Saudi Arabian Mining Company (Maaden) is planning to excavate 500,000oz of gold across the Kingdom, including in Madinah region, announced its president and CEO Khalid Al-Mudaifer at the Mining Investment Opportunities Forum here on Tuesday. He said Maaden
HK billionaire eyes investing in Kingdom’s real estate
JEDDAH – PineBridge Investments LLC, the money manager controlled by Hong Kong billionaire Richard Li, plans to invest about $400 million in real estate across countries including Saudi Arabia and the United Arab Emirates. A fund focused on the six
Saudi non-oil business activity slows in May
JEDDAH – Growth in Saudi Arabia’s non-oil business activity slowed in May as new orders rose at their most sluggish pace since September 2011, a survey showed on Tuesday. The seasonally adjusted SABB HSBC Saudi Arabia Purchasing Managers Index slipped
Aviation safety remains high
DOHA – Safety in global aviation remains high, the International Air Transport Association said Tuesday, as it seeks to improve in-flight tracking after the disappearance of a Malaysian passenger jet in March. There were 0.34 accidents per million flights in
GCC slams Syrian elections as ‘farce’
Foreign ministers of the six-nation Gulf Cooperation Council (GCC) have labeled the elections in Syria as a farce. They dismissed the vote as a way for President Bashar Assad to stay in power and prolong the country’s bloody three-year conflict.
Airlines charge up to SR60 per extra kilogram
Airline companies are set to make a roaring business this summer out of holidaymakers by charging up to SR60 for every extra kilogram of luggage, according to reports. The situation has forced many travelers to send their cargo by land
Pakistan shoots state-of-the-art ‘Brazuca’ balls to Brazil
SIALKOT — She has no idea who Lionel Messi is and her home country isn’t even playing, but Pakistani mother-of-five Gulshan Bibi can’t wait for the World Cup — because she helped make the balls. When Brazil and Croatia kick
Saudi students in US universities contribute $3.2b to US economy
RIYADH – The economic impact of the 110,000 Saudi students studying in US universities and colleges is significant, as they contributed $3.2 billion to the US economy during 2013-2014. These estimates are from Carian College Advisors, an education consultancy specializing
Passengers may bear the cost of aircraft tracking
DOHA – Moves by airlines to keep track of their aircraft in real time following the disappearance of Malaysian Airlines’ flight MH370 could push up ticket prices for passengers – but governments should also foot part of the bill, airline
‘Coffins on wheels’ frequent Jeddah streets
JEDDAH — Old and rundown mini buses carrying mostly expatriate workers frequent Jeddah streets, leading some citizens to describe these vehicles as “coffins on wheels”. Saeed Al-Amri, a bus driver, said he has been driving for the past 20 years
Airlines debate costs of aircraft tracking after MH370 loss
DOHA: Moves by airlines to keep track of their aircraft in real time following the disappearance of Malaysian Airlines’ flight MH370 could push up ticket prices for passengers — but governments should also foot part of the bill, airline industry
Poor infrastructure makes Jeddah unattractive
Jeddah’s poor infrastructure is often cited as a reason for the cutback in tourism projects and investment in the city with real estate experts quoting the growth rate of real estate and tourism projects on Jeddah Corniche at less than
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