Saudi Arabia, the world’s biggest oil exporter, moved to allay fears that the kingdom was backing away from its pledge to curb production, underlining its concern about a 10 per cent plunge in the crude price over the past week. The kingdom’s energy ministry rushed out a rare statement on Tuesday asserting its commitment to “stabilising the global oil market”, just as global benchmark Brent crude slipped […]
LONDON/PARIS An activist hedge fund has said it objects to plans by Walt Disney (DIS.N) to take full control of debt-laden Paris theme park operator Euro Disney (EDLP.PA), according to a letter seen by Reuters. Paris-based CIAM, which owns 1.4 percent of Euro Disney shares, has written to the board of the French company to object to what it believes are plans by Walt Disney to force […]
The head of the main film festival in Saudi Arabia, where cinemas are banned, wants the government to invest in the sector as part of its campaign to encourage entertainment. Ahmed AlMulla made the comments in an interview with AFP ahead of the fourth Saudi Film Festival, which runs from March 23-28 in the Gulf coastal city of Dhahran. This year’s festival is the first since the […]
The Gulf’s healthcare industry is expected to receive the highest volume of investments in 2017 among non-oil sectors as GCC countries seek to further diversify their economies, according to a new survey. CFA Institute, the global association of investment professionals, said its annual Middle East Societies Market Sentiment survey also forecse an increase in hospitality and tourism investment. It said in a statement that in Saudi Arabia, […]
Japanese Prime Minister Shinzo Abe has asked Saudi Arabia’s King Salman to support the listing of Saudi state oil giant Aramco shares on the Tokyo Stock Exchange, a Japanese senior government official said on Monday. King Salman said that the kingdom would look into the request because he wants Japanese investors to buy Aramco shares, the official said after the two leaders met. Bourses in Asia and […]
Photo Hosni Mubarak waved to supporters in 2015, on his 87th birthday, from the Maadi Military Hospital in Cairo. Credit Amr Nabil/Associated Press CAIRO — An Egyptian prosecutor ordered Hosni Mubarak, the toppled Egyptian autocrat, released from the Maadi Military Hospital in southern Cairo, where he has been held for much of the last six years. But as of Monday night, Mr. Mubarak, 88, still had not […]
By Suleiman Al-Khalidi | AMMAN AMMAN Aid workers are in a “race against time” to prevent famine threatening millions of people in Yemen, a senior U.N. official said in Monday. “We have about three months of food stored inside the country today,” Ertharin Cousin, executive director of the World Food Programme, told reporters in Amman after a three-day visit to the wartorn country. “We do not have […]
Monday, March 13, 2017 Alwaleed Philanthropies (AP), chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz AlSaud, announced an innovative new partnership with Thomson Reuters Foundation focused on empowering Saudi female journalists, during the first of its kind conference titled “The evolving role of women in Saudi Arabia” held in Riyadh on Saturday March 11, 2017. In partnership with Luxury KSA, and Smaat Company, the conference took […]
ARADA, the UAE-based developer started by Prince Khaled bin Alwaleed bin Talal, the only son of Saudi billionaire Prince Alwaleed, has announced the launch of its first project in Sharjah. With an expected completion date for late 2018, Nasma Residences will offer more than 800 homes plus community facilities, a statement said. In January, Prince Khaled’s KBW Investments (KBW) and Basma Group unveiled ARADA, a partnership enterprise […]
ARADA, the UAE-based developer started by Prince Khaled bin Alwaleed bin Talal, the only son of Saudi billionaire Prince Alwaleed, has announced the launch of its first project in Sharjah. With an expected completion date for late 2018, Nasma Residences will offer more than 800 homes plus community facilities, a statement said. In January, Prince Khaled’s KBW Investments (KBW) and Basma Group unveiled ARADA, a partnership enterprise […]
Zain Group held its annual Ordinary General Assembly in a gathering that constituted a quorum of 66.79% and approved a cash dividend of 35 fils Vice-Chairman Bader Al Kharafi: “Investments in emerging technologies will diversify our revenue streams.” New Board of Directors elected for three years; Scott Gegenheimer given new role as CEO of Operations Advertisement Kuwait – 12 March, 2017 Zain Group, a leading mobile telecom […]
Stock exchanges around the world are limbering up to win the multibillion-dollar listing of Saudi Arabia’s state-owned oil company. Source link
When it comes to renewable energy in Saudi Arabia, there still remains more than a hint of scepticism. Multi-billion dollar plans have come and gone and the kingdom has made little progress developing renewable energy capabilities to harness its advantageous climatic conditions. In 2010, the King Abdullah Centre for Atomic and Renewable Energy (KA-Care) was established to develop the country’s renewable and nuclear capabilities, as the country […]
Kuwaiti telecommunications group Zain has reached the final stages of selling its mobile transmitter towers in the country, the company’s vice chairman Bader Nasser al-Kharafi said on Sunday. The company is awaiting approval from the telecommunications regulator, Kharafi said at a shareholder meeting. He did not give details of the planned sale. Sources told Reuters in March last year that Zain was narrowing the field of potential […]
Saudi King Salman’s stop in the Maldives on his month-long tour of Asia brings into focus how this tiny archipelago – best known for high-end tourism and an existential battle against climate change – has emerged as a key player in a regional struggle for influence. Both Riyadh and Beijing are currying favour with the strategically located 820km-long chain of Indian Ocean atolls, in efforts analysts believe […]
Authored by Federico Pieraccini via The Strategic Culture Foundation, While the world continues to decipher, or digest, the new Trump presidency, important changes are afoot within the grand strategic triangle that lies between Russia, Iran and China Away from the current chaos in the United States, major developments are progressing, with Iran, Russia and China coordinating on a series of significant moves crucial for the future of […]
UK and Gulf scientists will be working together on eight cutting edge research projects, thanks to $3.4 million in UK government funding allocated to research projects in areas ranging from nanotechnology to cyber-security. The funding will strengthen scientific ties between the UK and the Gulf region in order to find solutions to shared global challenges, a statement said. The project is led by the Department for Business, […]
Saudi women from adventurers to inventors are hoping a unique conference in Riyadh on Saturday will highlight their changing role and inspire younger women to push for new opportunities in the ultra-conservative kingdom. The event comes at a time when reforms are slowly changing women’s lives in one of the world’s most gender-segregated countries – where women live under the supervision of a male guardian and cannot […]
SANA, Yemen — An airstrike by a military coalition led by Saudi Arabia on an open market in western Yemen killed at least 16 people, United Nations and local officials said Saturday. The attack late Friday hit a market selling khat, a mild stimulant common in Yemen, setting off a fire and leaving the dead and wounded scattered in the wreckage. هذة المجزرة ارتكبها اليوم #ال_سعود في […]
11 March 2017 Kuwait – Kuwait Finance House (KFH) provides exclusive offers on 5 insurance policies for customers in collaboration with KFH-Takaful. The offers encompass 6 customer segments; Awlwiya-Nukhba-Ruwaad-Tamayoz- Sundus and Rubban. This covers the Sanad, Youmnak and Supplementary insurance policies on comprehensive cars insurance, in addition to Sanad for medical insurance and the policy of travel insurance. The discounts reach up to 50% until end of […]
The Abu Dhabi Festival’s main programme kicks off with arguably the most-important singer from the region. Tickets to Mohamed Abdo’s long-awaited concert on Tuesday evening at Emirates Palace have been sold out for a while now. Popularly known as “Fanan Al Arab” or “Artist of the Arabs” (a title he was given in the 1980s during a concert in Tunis by then president Al Habib Bou Rakiba), […]
HODEIDAH At least 22 civilians were killed on Friday and dozens wounded when a Saudi-led coalition air strike hit a market in western Yemen causing a fire to break out, a local official said. Missiles launched by fighter jets of the Arab alliance hit a market selling the mild narcotic leaf qat, which is popular among Yemenis, near the Red Sea fishing town of Khoukha. Rescue workers […]
The two most powerful men in the world oil market appeared together in Houston on Tuesday to tell the world that their strategy was on track. In December, Khalid al-Falih and Alexander Novak, the energy ministers of Saudi Arabia and Russia, orchestrated a 24-nation plan to cut oil output in the first half of 2017. This week they spoke to reporters in a hotel conference room at the […]
Saudi Arabia’s is set to narrow during 2017 on the back of higher oil prices, discipline in spending and non-oil revenue measures, according to a new research note by Bank of America Merrill Lynch. BofA Merrill Lynch said it sees the 2017 budget deficit at SR316 billion ($85 billion), about 12 percent of the Gulf kingdom’s GDP, compared to a deficit of SR402 billion in 2016, which […]
