Yemeni vice president: Iran’s dangers are a threat to our nation’s future

:: Yemeni Vice President Lt. Gen. Ali Mohsen Saleh has described Iran as a “source of danger” and said it poses a threat to Yemen’s future. The official Yemeni More »

Tunisia’s Grand Mufti ‘to appear before the judiciary on corruption charges’

:: Controversy is brewing in Tunisia after several media outlets began reporting that the judiciary is mulling charging the country’s Grand Mufti Sheikh Othman Battikh with corruption charges. Local More »

Abdullah Al-Thani hopes ‘Qatar will cooperate to facilitate Hajj pilgrims’

:: Qatar’s Sheikh Abdullah bin Ali Al-Thani has said he regrets the inability of pilgrims from Qatar to travel to Saudi Arabia directly from Hamad International Airport via Saudia More »

Russian jets kill more than 200 ISIS militants near Syria’s Deir al-Zor

:: Russia’s air force has destroyed a large column of ISIS fighters on their way to the Syrian city of Deir al-Zor, killing over 200 militants, Russian news agencies More »

Pentagon’s Mattis again seeks to reassure US allies

:: Defense Secretary Jim Mattis travels to the Middle East and eastern Europe next week to play the increasingly familiar role of reassuring allies that the United States is More »

 

Category Archives: Commerce

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

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

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

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

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

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

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

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

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

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

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.

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

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

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

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

KONE Wins Order for 8 New Projects by Alargan Projects in Saudi Arabia

KONE Corporation, a global leader in the elevator and escalator industry, has won the order to supply 153 elevators in 8 different projects commissioned by Alargan Projects in Saudi Arabia. The projects involved are located in Dammam,

US, global financial leaders skirt trade frictions, tout collaboration

Global economic leaders on Friday continued downplaying possible friction with the Trump administration over currencies, trade and other potentially contentious issues, even while acknowledging that much about the US president’s plans remains unclear. On a day when

Gold steady on N. Korea tensions, French election

Gold held steady on Tuesday after touching five-month highs the previous session, bolstered by the dollar softening versus the yen, North Korea tensions and the French presidential election. US Vice President Mike Pence reassured Japan of American

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