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Proscient to provide Process Safety and Operational Risk Management System (PSORMS) capabilities to reduce risk, improve productivity and lower costs Proscient to provide Process Safety and Operational Risk Management System (PSORMS) capabilities to reduce risk, improve productivity and lower costs Dammam, Saudi Arabia, 23 January 2017  Petrotechnics, the developer of Proscient – the hazardous industries’ first software platform for Operational Excellence – has been selected by Accenture […]

The Saudi finance ministry said on Sunday there would be no fees applied on remittances out of the country, days after the kingdom’s advisory Shura Council said it was looking at a proposal to impose a 6 percent levy on expatriate remittances. Saudi Arabia is “committed to the principle of free movement of capital in and out of the kingdom, in line with international standards,” the ministry’s […]

By Naveen Thukral | SINGAPORE SINGAPORE Oil ticked lower on Monday, falling for the first time in three sessions as prospects of rising U.S. production weighed on the market. U.S. energy companies last week added the most rigs drilling for new production in almost four years. Drillers added 29 rigs in the week to Jan. 20, bringing the total count up to 551, the most since November […]

Abu Dhabi’s government merged two of its top investment funds on Saturday to strengthen their financial clout in an era of low oil prices, creating a company with assets totalling about $125 billion. The new fund, Mubadala Investment Co, was formed by merging Mubadala Development Co and International Petroleum Investment Co, which own corporate stakes in the energy industry and other sectors across the world. The new […]

By Tetsushi Kajimoto | TOKYO TOKYO Japanese companies believe that neither U.S. President Donald Trump nor Japan Prime Minister Shinzo Abe want to see the yen weaken significantly, a Reuters poll showed, a development they worry could spark an unwelcome political backlash. The Reuters Corporate Survey, conducted Jan. 4-17, also found that Japanese firms want Abe to push Trump hard on trade issues, while nearly a third […]

A ship capable of breaking through thick Arctic ice to deliver Russian liquefied natural gas to Asia is due to begin trials, marking an important step towards completion of a $27bn LNG project championed by president Vladimir Putin. The tanker is the first of a new class of icebreaking LNG carriers that will open an export route from Siberia to the Pacific — reducing Russia’s dependence on […]

Energy ministers from OPEC and non-OPEC countries meeting in Vienna on Sunday have struck a positive note regarding their agreement to cut oil output as a committee set to monitor compliance with the deal meets for the first time. “I am satisfied, I am optimistic and, as I said, the markets are on their way to rebalance and it’s happening,” Saudi energy minister Khalid al-Falih said. Compliance […]

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Submitted by Robert Parry via The Strategic Culture Foundation, Whenever The New York Times or some other mainstream news outlet holds itself out as a paragon of professional journalism – by wagging a finger at some pro-Trump “fake news” or some Internet “conspiracy theory” – I cringe at the self-delusion and hypocrisy. No one hates fake news and fact-free conspiracy theories more than I do, but the […]

By Rania El Gamal and Vladimir Soldatkin | VIENNA VIENNA A committee of OPEC and non-OPEC countries responsible for monitoring compliance with a global agreement to reduce oil output is set to meet for the first time in Vienna on Sunday. The committee is expected to discuss how to best monitor compliance with the deal reached late last year as well as what level of compliance would […]

The Google Pixel and the Samsung Galaxy S7 are top-notch Android-powered devices that are vying with each other to rein supreme in the hotly-contested smartphone space. Both the Galaxy S7 and the Pixel are equipped with great camera capabilities and battery support. The two phablets also house a fingerprint scanner, which increases the device’s security. Here is a comparison of both the Android smartphones to help you ascertain, which […]

Kuwait is well positioned to mitigate the impact of lower oil prices on the economy despite a deterioration in the country’s fiscal position, according to the International Monetary Fund. It said in a new report that Kuwait’s nonhydrocarbon growth has moderated from 5 percent in 2014 to about 3.25 percent last year as a result of the drop in oil prices. However, large financial buffers and low […]

Middle East stands out as a key growth area for food providers in global packaged F&B, with market tipped to reach USD2.2 trillion by 2020 22 January 2017 Dubai, UAE: The most significant representation of leading F&B brands the MENA region has ever seen will soon be converging in Dubai, as more than 140 major international food and beverage producers come together at the new Power Brands […]

For hundreds of years, fishing and pearl diving were vital to the people who lived around the Arabian Gulf. Along with trade, it was these two activities that allowed communities to flourish in the days before the discovery of oil. While pearl diving is largely a thing of the past, fishing remains a major industry – perhaps too major. Like many other seas, the Arabian Gulf is […]

TOKYO, A day after Donald Trump became U.S. President and vowed to put “America First”, Asian media decried his isolationist policies, fearing they will chill the global economy and sow widespread international discord. In a defiant inaugural address, Trump said U.S. workers have been devastated by an outflow of jobs overseas, one of the main themes of a divisive campaign that emphasized making America strong again. In […]

Zverev might have beaten Nadal in Indian Wells last year if he had not missed a high forehand volley into the net when he held match point. On Saturday, the outcome was still very much in doubt with Zverev serving at 2-2 and deuce in the fifth set. He went on to win the longest rally of the match — a 37-shot spectacle — but when Nadal’s […]

21 January 2017 Abu Dhabi, UAE: Middle East Sulphur 2017, a new conference held from February 12-16, will highlight the ever-growing value of the commodity regionally and beyond. Often viewed as a by-product of the oil and gas industries, sulphur is now coming to the fore as its versatility and potential is realised by business leaders around the world. Sulphur is also the primary source in producing sulphuric […]

While the year ahead could prove to be a bumpy one for global financial markets amid ongoing political and policy risks, there is reason for optimism over the outlook for stocks in the Middle East and North Africa (MENA) region. Compared to 2016, a number of structural tailwinds should give investors greater confidence in MENA’s fundamentals. The implementation of major fiscal and capital market reform throughout the […]

Temperatures in Dubai could drop to as low as 10°C later this month as a cold wind arrives, according to Dubai Municipality. The authority’s new climate forecast service also said the fog conditions experienced over the last few days are expected to be reduced after mid-month, followed by cold wind, dust and sand. It added that January is expected to be the coolest month of the year […]

By Noel Randewich | SAN FRANCISCO SAN FRANCISCO U.S. President Donald Trump’s administration is only hours old, but already a small parade of S&P 500 companies’ chiefs have voiced optimism that his promised tax cuts, stimulus spending and deregulation will boost corporate profits. In the days ahead of Friday’s inauguration, senior executives from Morgan Stanley (MS.N), Delta Air Lines (DAL.N) and other major U.S. corporations said the […]

By Gulsen Solaker and Tuvan Gumrukcu | ANKARA ANKARA The Turkish parliament has backed a plan to strengthen the powers of the presidency, paving the way for a referendum on the issue in spring which, if passed, could allow President Tayyip Erdogan to stay in office until 2029. Erdogan says the reform will provide stability in the European Union candidate country at a time of turmoil and […]

In 2015, Malian businessman and former interim prime minister Cheick Modibo Diarra told Arabian Business: “When it comes to investment…Africa really is the last frontier. Be it agriculture, energy production, extraction of gold and diamonds, or oil and gas, we have a lot of opportunities and a young workforce that understands how business works.” He was speaking at a time when interest in Africa among Middle East […]

President Trump’s brief inaugural speech was a declaration of war against the entirety of the American Ruling Establishment. All of it. As Paul Craig Roberts details, Trump made it abundantly clear that Americans’ enemies are right here at home: globalists, neoliberal economists, neoconservatives and other unilateralists accustomed to imposing the US on the world and involving us in endless and expensive wars, politicians who serve the Ruling […]

Donald Trump launched a promised assault on “burdens” imposed by government within hours of becoming US president on Friday by moving to loosen rules tied to Obamacare and halting the introduction of any new regulations. Between the end of the daytime inaugural parade and the start of evening balls, the Trump administration took its first major policy moves by ordering government agencies to do all they could […]

Global sukuk issuance fell short of market expectations last year, although it was higher than in 2015, according to a new report by S&P Global Ratings. The agency said it believes the sukuk market will remain subdued in 2017, since the issuance process is still quite complex. When oil prices started falling in 2014, several market observers predicted an issuance boom from 2015, arguing that governments in […]

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