“We have seen pro-Israeli presidents all along, and Israel First was the standard policy of the United States of America over the last 50-plus years,” Mr. Abdulla said. “But Trump is going much further than that. It seems he is even more Zionist than the Zionists.” Continue reading the main story Sympathy for the Palestinians has historically been among the few issues that united Arabs across political […]
Saudi Arabia has announced a timeline for implementation of a tax on harmful products including soft drinks and cigarettes, and said it has completely ruled out income tax contrary to previous reports, according to an official document. The Fiscal Balance Program 2020 report, published by the Saudi government last week, said the kingdom would impose a 50 percent tax on soft drinks and a 100 percent tax […]
Saudi Arabia’s austerity measures will weigh heavily on consumer spending in 2017 with households cutting back on “non-essential” expenses, according to BMI Research. In its latest country report, the Fitch Group firm reiterated its previous forecasts that the kingdom’s economy would fall into recession next year, as fiscal consolidation and oil production cuts impact economic activity. It forecasts real gross domestic product (GDP) growth to decline by […]
By Orhan Coskun and Ellen Francis | ANKARA/BEIRUT ANKARA/BEIRUT Turkey and Russia have prepared an agreement for a ceasefire in Syria, Turkey’s foreign minister said on Wednesday, adding that Ankara would not give up its opposition to President Bashar al-Assad staying on as leader. The five-year-old Syrian civil war raged on, with heavy casualties reported in the siege of a town held by Islamic State, and the […]
The FTSE 100 was within touching distance of a closing high on Wednesday, as optimism about the outlook for metal prices lifted the shares of the heavyweight miners on Britain’s blue-chip index. On the market’s first day back after the Christmas holiday, the FTSE 100 was up 0.6 per cent at 7107.56 in early afternoon trading, putting it on track to surpass its closing high of 7103.98 […]
Post-Millennials in the Kingdom of Saudi Arabia call for more investment in clean energy – mirroring actions being undertaken as part of Government’s Vision 2030 Abu Dhabi, United Arab Emirates, December 28, 2016 Ambitious plans set out by the Kingdom of Saudi Arabia for the deployment of renewable energy are strongly aligned with the hopes and ambitions of the country’s young people, according to global research […]
By Andrew Osborn and Orhan Coskun | MOSCOW/ANKARA MOSCOW/ANKARA Syria would be divided into informal zones of regional power influence and Bashar al-Assad would remain president for at least a few years under an outline deal between Russia, Turkey and Iran, sources say. Such a deal, which would allow regional autonomy within a federal structure controlled by Assad’s Alawite sect, is in its infancy, subject to change […]
In the latest snub of president Obama and the US State Department, on Wednesday Turkey and Russia reached an agreement for a ceasefire in Syria, Turkey’s foreign minister said, and according to Anadolu News Agency, will aim to put it into effect by midnight. Anadolu, citing sources, said the two countries have reached a consensus that will be presented to participants in the conflict on expanding the […]
Firstov Alexander – Azerbaijan. Wissam Chehade – Lebanon. Jaan Al Balushi – Bahrain. Esam Kabli – Saudi Arabia. Vicente Moraga Costoso – Spain. Waleed Mohamed Al Marzooqi – UAE. Ahmed Saeed Thebet – Egypt. Khalid Jamal Abdullah – Iraq. Pedro Luis Ajuriaguerra – Spain. Khalid Mohammad Al Hammadi – UAE. The National
After a two-year experiment with free markets, the pain of low oil prices forced the world’s biggest producers to join forces in 2016 and tackle a global supply glut. Saudi Arabia-led Opec and non-member countries, primarily Russia, agreed after months of discussion and back channel diplomacy to cut production for the first time since the global financial crisis. Prices look set to end the year in the […]
By Andrew Osborn and Tom Perry | MOSCOW/BEIRUT MOSCOW/BEIRUT Russia’s foreign minister on Tuesday said the Syrian government was consulting with the opposition ahead of possible peace talks, while a Saudi-backed opposition group said it knew nothing of the negotiations but supported a ceasefire. In an interview with Interfax news agency, Sergei Lavrov did not say where the consultations were taking place or which opposition groups were […]
A Kingdom of Oil From the beginning, the social contract between commoners and royals constituted a trade-off: a share of the country’s wealth in exchange for absolute rule by the Saud monarchs. A Life magazine correspondent visiting in 1943 described how, as King Abdulaziz waited on a roadside while a flat tire was fixed on his Packard, he gave a shepherd passing on camelback several gold pieces. […]
Jeddah, Kingdom of Saudi Arabia, 27.12.2016 The Board of Executive Directors of the Jeddah-based Islamic Development Bank (IsDB), in its 316th meeting on Sunday, gave the final go ahead for injecting US $863 million in to new financing development projects in a number of member countries namely; Guinea, U.A.E, Bahrain, Morocco, Senegal, Togo, Djibouti, Chad, Jordan, and Mali. The meeting also approved to a number of important […]
Abu Dhabi’s stock market plans to introduce covered short-selling in the first quarter of 2017, its chief executive said on Monday, as it seeks to boost liquidity and attract more foreign investors. In covered short-selling, investors borrow shares and sell them in the expectation of repurchasing them later at a lower price. Regulators in the Gulf have until now shied away from allowing the practice because of […]
Saudi Arabia expects oil revenue to jump by 46 percent next year following the deal between the kingdom and other producers to curb output and drive up global prices. The world’s top oil exporter expects to collect SR480 billion ($128bn) from oil sales in 2017, compared with SR329 billion ($87.67 billion) this year, the finance ministry said in a budget statement last week. Non-oil revenue will climb […]
By Osamu Tsukimori | TOKYO TOKYO Oil prices were little changed on Tuesday in light pre-New Year holiday trading with markets adopting a wait-and-see stance less than a week before the first output cut deal agreed between OPEC and non-OPEC members in 15 years is scheduled to kick in. London Brent crude for February delivery LCOc1 was down 1 cents at $55.15 a barrel by 0335 GMT […]
ACE Hardware, the world’s largest hardware retail cooperative, is to open at First Avenue in Dubai’s Motor City, becoming its main anchor retail tenant. The retailer said in a statement that it will operate on the ground floor across an area of almost 6,500 sq ft. ACE stores sell a wide variety of hardware products to maintain and fix homes and businesses. “The pace of demographic growth […]
Infrastructure works for two new berths at King Abdullah Port in Saudi Arabia’s King Abdullah Economic City will be finished in the next few weeks, significantly boosting capacity. Berths 5 and 6 are part of the port’s expansion plan, which aims to significantly uprate the port’s capacity, thus boosting its standing in the maritime industry, both regionally and internationally, a statement said. “With the two new berths, […]
One may assume the life of a member of a Royal Family is easy, right? After all, members receive the “royal treatment” all year long. But the truth is royal families are just like all our families. Their lives can include controversy, scandal and some drama. And this year was no different. Whether it was relationship rumours, links to the Panama Papers scandal, tax fraud trials or […]
Saudi Arabia will resist plans to introduce a tax on expat remittances for now, according to Mohammed Al-Tuwaijri, secretary general of the Financial Committee at the Royal Court. Saudi Arabia’s Shura council has discussed plans to impose a 2 to 6 percent tax on expat workers’ remittances, following a proposal submitted by former Shura council member Husam Al Angari. He proposed an initial tax of 6 percent […]
26 December 2016 Dubai – The internet of things (IoT) is rapidly gaining momentum within the healthcare industry of the Gulf Cooperation Council (GCC) countries. According to IDC Health Insights, there has been a steady rise in IoT initiatives over recent years, and in some usage scenarios, IoT services are maturing rapidly toward mainstream deployment. The firm projects IoT spending by healthcare providers across the Middle East […]
ArabPlast 2017 promises an international participation accentuated by the presence of the giant operators in the industry of plastics, petrochemicals and rubber Dubai, UAE, 25 December 2016 As the biggest plastics, petrochemicals and rubber industry exhibition in the MENA region, ArabPlast 2017 is set to bring together the key players, experts and industrials in the field from around the world, between 8th-10th January at Dubai World Trade […]
Your daily guide to community and cultural activities across the Emirates for December 26, 2016, including Christmas attractions, food markets, art exhibitions, fitness events, performances, film screenings and family fun. newslide Abu Dhabi Film screening Catch a screening of The Patience Stone. The film is about a young woman in a country torn apart by war, who watches over her comatose husband and begins to tell him […]
Saudi Arabia’s government plans to provide 200 billion riyals ($53 billion) of incentives to the private sector over the next four years in its drive to diversify the economy beyond oil, according to an official planning document. A reform programme launched this year, after a plunge in oil prices slashed state revenues in the world’s top oil exporting country, envisions the private sector investing tens of billions […]
