Turkey’s Erdogan tells Muslim summit Jerusalem is capital of Palestine

:: Turkish President Tayyip Erdogan called on world powers to recognize Jerusalem as the capital of Palestine on Wednesday and said the United States should reverse a decision recognizing the city as More »

Saudi King, Crown Prince discuss Jerusalem issue with Jordanian King

:: Custodian of the Two Holy Mosques King Salman held a session of official talks with King Abdullah of Jordan at his palace in Riyadh on Tuesday. They discussed the latest developments More »

King Salman honors winners of King Khalid Awards

:: King Salman on Monday evening honored the winners of the King Khalid Award for 2017. King Salman distributed prizes to the winners of this year’s awards in three categories: Partners for More »

Kuwait ruler appoints new cabinet with new oil, finance and defense ministers

:: The Kuwaiti ruler swore in a new government on Monday, handing the defense ministry to his eldest son and appointing new oil and finance ministers. The move comes weeks after the More »

Putin and Erdogan warn of rising tension after Trump’s decision on Jerusalem

:: Russian President Vladimir Putin and Turkish Prime Minister Recep Tayyip Erdoğan warned against the repercussions of Washington’s recognition of Jerusalem as the capital of Israel asserting it would be the cause More »

 

Category Archives: Commerce

Saudico Electronic Systems and Acteos SA are Partners In Saudi Arabia

:: Saudico Electronic Systems (SES) and Acteos SA have established a partnership for distributing Acteos range of modern Supply Chain Planning & Execution applications in Saudi Arabia. Acteos SA is a software Developer and Integrator of Supply Chain solutions headquartered

SAP Commit to Saudi Vision 2030 Digitization Goals

:: The Kingdom’s biggest public and private sector organizations have announced their commitment to Saudi Vision 2030 and National Transformation Program 2020 goals of digital transformation, with a common theme: Transform or Be Left Behind! The global economy is being

Saudi shipper Bahri sees VLCC market improving by Q4

:: Saudi Arabia’s Bahri, the exclusive oil shipper of Saudi Aramco, expects supertanker rates to stabilize at slightly better levels going into the fourth quarter, the vice president for commercial and operations of its oil business said. Bahri is the

Kuwaiti fund to sell Areva shares in bid, stay away from nuclear – sources

:: Kuwait Investment Authority (KIA) will sell its nearly five percent stake in Areva to the French state as the nuclear group is delisted and will stay away from nuclear investments for now, sources familiar with the situation told Reuters.

Toyota, Mazda plan $1.6 bln US plant, to partner in EVs

:: Japanese automakers Toyota Motor Corp. and Mazda Motor Corp. plan to spend $1.6 billion to build a joint-venture auto manufacturing plant in the US – a move that will create up to 4,000 jobs, both sides said on Friday.

5 key points of the new UAE tax procedures law

:: Companies in the United Arab Emirates will be required to keep accurate records of their businesses for a period of five years according to the Tax Procedures Law issued by President of the UAE, Sheikh Khalifa bin Zayed Al

Gold up, poised for more gains on soft US rate outlook

:: Gold climbed on Monday and was likely to see further gains after the dollar slumped to multi-month lows on the back of data that pointed to weak US inflation and less prospect of rate hikes. “The dollar continues to

High living costs as food, travel prices shoot up in Qatar

:: Living costs in Qatar have become far more expensive following boycott by all of Saudi Arabia, the UAE, Bahrain and Egypt, Al Arabiya’s sister news channel, Al Hadath reported on Wednesday. Food prices have doubled and at times went

India’s top court suspends ban on trade in cattle for slaughter

:: India’s Supreme Court suspended on Tuesday a government ban on the trade of cattle for slaughter, a boost for the multi-billion dollar beef and leather industries mostly run by members of the Muslim minority. Prime Minister Narendra Modi’s Hindu

Dubai online retailer Souq.com says sale to Amazon completed

:: Dubai-based Souq.com, the Middle East’s biggest online retailer, says its sale to Amazon has been completed. Souq.com said on Monday that users now could log into their website using their Amazon account. A Souq.com statement said the firms now

General Electric announces $15 billion of business deals with Saudi Arabia

:: American technology and engineering giant General Electtic (GE) announced on Saturday it had signed $15 billion of business deals with Saudi Arabia which will go a long way in boosting the kingdom’s drive to diversify its non-oil economy .

Turkey aims to boost GCC ties amid free trade talks

:: Turkish President Recep Tayyip Erdogan on Monday said he aimed to boost economic and military ties with Arab Gulf states, as talks on a free trade zone deal pushed ahead. Erdogan, who is expected in Kuwait on Tuesday, said

London tries to lure Saudi Aramco with new listing structure

:: The London Stock Exchange is working on a new type of listing structure that would make it more attractive for oil giant Saudi Aramco to join the bourse, sources familiar with the discussions said. Exchanges around the world are

Saudi finance minister says likely to tap foreign, local bond markets again

:: The Saudi Arabian government is likely to tap the international and domestic bond markets again this year, depending on demand for its debt and the pricing it can obtain, finance minister Mohammed al-Jadaan said on Tuesday. He told an

Dubai’s Aramex Q1 net profit down 5 pct

Dubai-based courier Aramex reported a 5 percent fall in first-quarter net profit on Sunday due to a rise in provisions related to the company’s incentive scheme. The company made a net profit of 91.8 million dirhams ($25.0 million)in the three

US to review trade pacts, looking at ‘abuses’

Wilbur Ross

President Donald Trump will sign a decree on Saturday ordering a review of “violations and abuses” of international trade pacts signed by the United States, including the 164-member World Trade Organization, Commerce Secretary Wilbur Ross announced on Friday. The news

Egypt considering $1.5-2 billion Eurobond in coming weeks

Egypt is considering a $1.5-2 billion Eurobond offering in the coming weeks, finance minister Amr El Garhy said in a telephone interview with private television channel CBC on Saturday. Egypt sold $4 billion of Eurobonds in three tranches in January,

Saudi govt says making faster than expected progress in cutting costs

Saudi Arabia’s government is making faster than expected progress in cutting costs and that is the main reason for a stronger budget position so far this year than originally projected, a top official said on Thursday. Last week, King Salman

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