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 »
Tag Archives: Economy
Small and medium enterprises: Pulse of the Saudi economy
:: Small and medium enterprises (SMEs) play a pivotal role in any economy, generating jobs, and contributing to growth. Saudi Arabia has long realized the importance of providing a nurturing environment to these entities, outlining clear objectives in its Vision
Romanian and French wheat cargoes still in Egyptian prosecutor custody
:: Two wheat cargoes rejected by Egypt’s agriculture quarantine service for containing poppy seeds are still in the custody of the public prosecutor and have not been released yet, Egypt’s Red Sea Port Authority said on Saturday. The agriculture minister
Moody’s says Qatar facing large economic, social costs
:: Moody’s says in new report that the GCC crisis over Qatar’s ties with terrorism, is credit negative for all GCC countries, but especially for Qatar. Here are the main points in the report: More than three months since the
Stung by boycott, some Qatari firms asking employees to take unpaid leave
:: Qatar’s feud with the four boycotting neighbors is making life harder for some foreign workers in the country. This is worsening the situation caused by layoffs due to low oil prices and a work-sponsorship system that restricts their movement.
Who should drive Egypt’s economy: Bureaucrats or entrepreneurs?
By : Mohammed Nosseir :: Being a successful physician or teacher does not normally qualify a person to run a hospital or school efficiently. Singlehandedly managing a hospital or school in a remote area differs completely from doing so amid
Fund outflow pushes Qatar bank to offer new certificates of deposit
:: Qatari financial institutions are under pressure following the sanctions imposed by Arab Gulf states, leadint to outflow of funds. The boycott which began two months ago led some companies and individuals to withdraw money from Qatari banks. In a
IMF: Countries must avoid protectionism ‘at all costs’
:: The International Monetary Fund warned world leaders Friday to avoid resorting to protectionist measures “at all costs” due to the damage it would cause to their own and the global economy. At a time when United States President Donald
Tour operator Thomas Cook back to Tunisia after UK travel advice shifts
:: Tour operator Thomas Cook will restart holidays in Tunisia now that Britain has softened its travel advice to the country, the firm’s boss said on Thursday. The move, which came as the company reiterated its full-year outlook, should be
Egypt’s Sisi says foreign reserves close to $35 billion
:: Egypt’s foreign reserves are close to $35 billion, Egyptian President Abdel Fattah al-Sisisaid on Monday. The figure brings the country to about where it was before a 2011 uprising drove tourists and foreign investors away, drying up foreign reserves.
Saudi finance minister welcomes IMF report
:: Saudi ministry of finance welcomed IMF report on the situation of the national economy. Commenting on the results of the consultations with the International Monetary Fund (IMF), the Minister of Finance Mohammed Al-Jadaan said: “We welcome the Fund’s commendation
Qatar biggest mall’s $1 bln loan refinancing frozen
:: The refinancing of a $1 billion loan by Doha Festival City, a retail and hospitality complex in Qatar, has been indefinitely postponed as a diplomatic crisis deters regional banks from doing new Qatari business, bankers said. The refinancing, coordinated
Dammam, Jeddah, Alkhobar and Riyadh becoming ‘more affordable’ cities
:: Four cities in Saudi Arabia – Dammam, Jeddah, Alkhobar and Riyadh – have become ‘more affordable’ this year, according to online database site Numbeo. In its mid-year cost of living of assessment of 511 cities, the website ranked Dammam
Hundreds of new Saudi female graduates find success in landing jobs
:: The president of Effat University has said 58 percent of the university’s graduates are employed in various jobs in the Kingdom or abroad. Dr. Haifa Jamal Al-Lail was speaking at a graduation ceremony at the university on Thursday. “The
Saudi aid to Yemen in two years stands at $8.2 billion
:: The Saudi foreign ministry published an infographics that shows the size of aid which the Saudi kingdom has provided to Yemen since April 2015 until April 2017. Saudi Arabia has provided $8.2 billion during this phase. The amount has
Saudi Arabia sets out 10 programs to achieve Vision 2030
The Saudi Council of Economic Affairs and Development has identified 10 programs of strategic importance for the government to achieve Saudi Vision 2030, a set of reforms approved by the Council of Ministers under the leadership of King Salman in
Egyptian minister says inflation in the country to start easing by December
Egypt expects inflation to start easing by November or December, a year after abandoning its currency peg and seeing prices soar as the pound lost half its value, Finance Minister Amr El-Garhy said on Thursday. Annual urban consumer price inflation
Saudization directly affects economic growth: Labor minister
Ali bin Nasser Al-Ghafis, minister of labor and social development, said Saudization is one of the most important issues affecting the labor market because it is directly linked to economic growth and sustainable national development. Speaking at the inauguration of
Saudi Arabia signs 21 MoUs with China, grants trading licenses for two companies
At least 21 Memorandums of Understandings were signed in the latest Saudi-China Business Forum meeting that was attended by Saudi King Salman. The key focus on the latest meeting on Thursday was to find further opportunities for Chinese investments in
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