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
KAEC’s growth graph keeps rising with new investors
The rapid progress King Abdullah Economic City (KAEC) is making can be gauged from the list of its investors that is expanding by the day. In fact, new strategic partnerships that are being added from time to time have been
China economic growth hits lowest since financial crisis
China’s economy logged its worst performance since the global financial crisis, official figures showed Monday, with analysts warning it is likely to worsen and the government must do more to avert a sharp slowdown. Gross domestic product (GDP) in the
India bank chief calls for IMF action over monetary easing
The head of India’s central bank on Monday called for the International Monetary Fund to stop “applauding” the monetary easing policies of many developed countries. Reserve Bank of India governor Raghuram Rajan said in a speech that the IMF should
Saudi Arabia well placed to become major global player in commodities
Saudi Arabia is well positioned to become a leading commodities supplier in the region, and a major player in the mining and minerals sector globally. Leading local and international experts agree that the Saudi Arabia has what it takes to
UK luxury carmaker Aston Martin’s losses triple in 2014
British luxury carmaker Aston Martin saw its losses almost triple in 2014, the fourth consecutive year it has failed to post a profit, following a recall of thousands of its cars and declining sales in China. The brand, famous for
Saudi Kayan pulls down Tadawul index
Shares in Saudi petrochemical manufacturer Saudi Kayan tumbled on Thursday after it swung to a third-quarter loss, pulling down the Tadawul All-Share index. Most Middle East bourses — apart from in Saudi Arabia and Qatar — were closed for Islamic
New cooperation accords mark Saudi-French business forum
Easing administrative and government procedures for French investors wishing to do business in Saudi Arabia and vice versa was one of the main recommendations to come out of the second Saudi-French Business Opportunities Forum, which concluded in Riyadh on Tuesday.
Lufthansa targets Gulf rivals with Mideast premium economy launch
Lufthansa will launch its premium economy service into the Middle East later this month, it said, aiming to go head-to-head on quality with Gulf-based rivals. The German carrier has often been at the forefront of a war of words between
Kingdom and France eye multibillion riyal deals at Riyadh talks
A plethora of bilateral agreements between the Kingdom and France worth billions of riyals will be signed in Riyadh during the 2nd Saudi-French Business Opportunities Forum, which will be held in Riyadh on Tuesday. The forum is set to take
IMF’s ‘credibility’ at stake in reform row: Lagarde
Washington’s use of its de facto veto at the International Monetary Fund to block reforms giving emerging countries a greater say is jeopardizing the IMF’s credibility, its leader said Friday. The IMF has been caught up in a protracted, politically
Obama ‘confident’ in TPP pacific trade deal
United States President Barack Obama said on Tuesday that he was confident he could make a case for the ambitious TPP Pacific free-trade deal as he began pressing for its ratification by Congress. A day after 12 countries reached agreement
Indonesia hopes for boom in Islamic banking
Indonesian teacher Nina Ramadhaniah hopes for “blessings from Allah” by opening a Shariah bank account — the sort of pious customer the world’s most-populous Muslim-majority country is praying for as it launches an Islamic finance drive. Indonesia, Southeast Asia’s biggest
Iran’s new five-year plan focuses on defense, economy
Iran’s supreme leader Ayatollah Ali Khamenei on Tuesday unveiled the main points of the Islamic republic’s next five-year plan, with the focus on the military and economic growth. According to extracts published by the official IRNA news agency, the 2016-2021
Tunisian towns call strike over economy, jobs
Four towns in Tunisia’s main phosphate-producing region began a general strike on Wednesday to protest against unemployment, as figures showed industrial activity fell sharply in early 2015. Hundreds of people took to the streets of Metlaoui, Om Lrayes, Mdhila and
About 700 migrants rescued from boats near Libya
Two commercial ships and an Italian coastguard vessel rescued about 700 migrants from overcrowded boats near the Libyan coast on Friday, days after more than 300 people died trying to make the crossing to Europe. Rome’s coastguard command center organized
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