New vote on Iraq poll date ‘by Monday’ as Abadi meets Kurdistan region PM

:: Iraq’s parliament failed on Saturday to approve May 12 as the election date, as suggested by the government, as Sunni and Kurdish lawmakers demanded a delay to allow hundreds of thousands More »

Egypt’s Sisi sacks his intelligence chief

:: Egyptian President Abdel Fattah al-Sisi has fired his powerful intelligence chief, state media said Thursday, in the latest shake-up of the country’s security services. Sisi appointed his chief-of-staff and close ally More »

Muslim World League in partnership to launch global UN conference

:: The secretary-general of the Muslim World League (MWL), Dr. Mohammed Al-Issa, on Wednesday signed a cooperation agreement with the World Council of Religious Leaders (WCRL). Bawa Jain, the secretary-general of WCRL, More »

Saudi Arabia’s FM Jubeir: Iran’s role in Lebanon, Syria and Yemen is a ‘major threat’

:: Saudi Arabia’s Foreign Minister Adel Al-Jubeir said Tuesday Iran was the biggest source of danger in the region because of its role in Lebanon, Yemen and Syria. “Iran supplied the Houthis More »

Sisi vows to protect Egypt’s water supply

:: President Abdel Fattah al-Sisi vowed Monday to protect Egypt’s water supply while striving for peace with the Nile upstream countries of Sudan and Ethiopia, which is building a controversial dam. “Egypt More »


Category Archives: Economy

Saudi Crown Prince meets with Bill Gates to review joint development programs

:: Saudi Arabia Crown Prince Mohammed bin Salman met with the Bill and Melinda Gates Foundation Co-Chair, Bill Gates, in Riyadh on Tuesday. During the meeting, they reviewed aspects of cooperation between the two sides in various fields, in addition

IMF: Gulf States still committed to VAT but dates will vary

:: All six countries in the Gulf Cooperation Council remain committed to introducing value-added tax, though they will do so at different speeds, a senior International Monetary Fund official said. “My feeling, through my interaction with the authorities, is that

New Zealand firms up ban on foreign house buyers

:: The New Zealand government firmed up plans Tuesday to prevent foreigners from buying houses in the country, saying it wanted the new law in place early next year. New Labour Prime Minister Jacinda Ardern said she aimed to have

Saudi defense company SAMI announces board chairman, CEO

:: Saudi Arabian Military Industries (SAMI) has appointed several people to its board of directors and tapped Andreas Schwer, boss of combat systems at Germany’s Rheinmetall AG, as chief executive. Created in May, state-owned SAMI is backed by the kingdom’s

Saudi women seize new business opportunities

Wafaa Al-Ashwali

:: With a 130 percent increase in the number of women employed by the private sector in Saudi Arabia over the past four years, the Kingdom’s workforce is undergoing a transformation aimed at ushering in a new economic era. When

Palestinian PM, Israeli minister discuss economic ties

:: Palestinian Prime Minister Rami Hamdallah `met Sunday with Israeli Finance Minister Moshe Kahlon to discuss strengthening economic ties between the two sides. US President Donald Trump’s special Mideast envoy Jason Greenblatt tweeted Monday that the meeting in Ramallah yielded

Saudi SABIC says it expects better Q4 in US market

:: Saudi Basic Industries Corp (SABIC) expects its fourth quarter in the United States will be better than its third quarter, when the firm posted its highest overall net profit since June 2015, its chief executive said on Monday. SABIC,

Saudi national carrier operates first Baghdad flight in 27 years

:: State-owned Saudi Arabian Airlines will launch its first flight to Baghdad in 27 years on Monday. The airline, also known as Saudia, will depart from the Red Sea city of Jeddah barely two weeks after Saudi budget carrier flynas

Canon and Extra Store in Partnership in Saudi Arabia

Canon Strengthens Business Opportunities in Saudi Arabia through a Strategic Partnership with United Electronics Company (eXtra) :: Canon Middle East, a leader in imaging and printing solutions, has signed United Electronics Company (eXtra), as a strategic partner for Canon Office

Saudi Arabia and Virgin to form a $1 bln partnership in space projects

:: The Public Investment Fund of the Kingdom of Saudi Arabia and Virgin Group will form a $1 billion partnership to invest in Virgin Galactic, The Space Ship and Virgin Orbit according to the Saudi Press Agency (SPA). The agreement

Saudi Crown Prince say Saudi Aramco IPO on track for 2018

:: Saudi Aramco’s initial public offering is on track for next year, and the national oil giant could be valued at more than $2 trillion, Saudi Arabia’s Crown Prince Mohammad bin Salman told Reuters in an interview. The sale of

Saudi’s PIF commits $20 bln to $40 billion fund with Blackstone

:: Saudi Arabia’s Public Investment Fund (PIF), the country’s main sovereign wealth fund, will contribute $20 billion to a $40 billion fund with US private equity firm Blackstone, its managing director said on Tuesday. The fund will invest in the

Saudi fund aiming for assets under management of $400 bln by 2020

:: Saudi Arabia’s Public Investment Fund (PIF) aims to increase its assets under management to 1.5 trillion riyals ($400 billion) by 2020 as part of the country’s Vision 2030, an economic reform plan aimed at boosting private-sector growth and developing

8 things you need to know about Saudi Arabia’s innovative NEOM project

:: NEOM is the world’s first independent special zone stretching over three countries. It is set to become a new vibrant destination located in the Northwestern region of Saudi Arabia. Expected to emerge as a leading global hub that exemplifies

Saudi Public Investment Fund unveils entertainment city logo

:: The Public Investment Fund unveiled the logo of the Qiddiya project, which will be the Saudi kingdom’s largest cultural, sports and entertainment city. The project was announced in April this year, and its newly announced logo was innovatively designed

Berlin seeks new partnerships with Riyadh through Future Investment Initiative

:: A German diplomat has confirmed that his country will expand its cooperation with Riyadh in various economic, political and security fields during the coming year, pointing out that a large delegation will participate in the Future Investment Initiative, hosted

Saudi Aramco IPO on track for second half of 2018, CEO says

:: Saudi Aramco’s initial public offering will take place in the second half of 2018, CEO Amin Nasser said Monday, dismissing reports that the oil giant’s plans could be shelved. “We have always said that we will be listing in

Saudi Airlines to operate regular Baghdad route starting Oct. 30

:: Saudia Airlines will begin its first flight to Baghdad on Oct. 30 in what will be the first flight to the Iraqi capital after 27 years of interruption. The news comes after Saudi budget airline Flynas last week made

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