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FINANCE & ECONOMY

SCTH gears up for Souq Okaz festival
June 23, 2017

The Saudi Commission for Tourism and National Heritage (SCTH) is gearing up for this year’s Souq Okaz.
Major preparations have been completed to hold the popular festival in the same location: The ancient Souq Okaz in Taif. The 11th edition of the week-long event will open July 12 under the patronage of King Salman.
The organizing committee announced the festival’s events and activities. Earlier, addressing a press conference, Prince Sultan"...

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Prince Faisal launches creative platform for jewelry trade
June 23, 2017

Madinah Gov. Prince Faisal bin Salman on Wednesday launched a creative platform for innovation, design and manufacture of jewelry under a program for small and medium enterprises (SMEs).
During the launch, the prince said the initiative will support young people, provide them with skills, and help them find business opportunities. He pointed out that SME projects contribute to the economic diversification and sustainable development of the region.
In"...

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Saudi Arabia’s crown prince gives $66.7m in aid for cholera outbreak in Yemen
June 23, 2017

The King Salman Center for Relief and Humanitarian Aid (KSRelief) donated $66.7 million to the UN Children’s Fund (UNICEF), the World Health Organization (WHO) and their partners to respond to the outbreak of cholera in Yemen.
The donation is an initiative of Crown Prince Mohammed bin Salman, deputy premier and minister of defense, to accelerate the Kingdom’s humanitarian efforts in Yemen.
The figure of $66.7 million was requested by UNICEF"...

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Bader El Houssami appointed COO, Nissan KSA
June 23, 2017

Bader El Houssami has joined Nissan Saudi Arabia as Chief Operating Officer, effective July 1. Based in Jeddah, Bader takes over responsibility for Nissan’s day-to-day operational functions as the company continues to consolidate its robust position within the Kingdom’s fiercely competitive automotive market.

A graduate in Business Studies specializing in marketing from Beirut"...

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Saudi Arabia won't finance construction of Parliament building in Dushanbe
June 23, 2017

Saudi Arabia has refuted the information about the possible financing of construction of the new building of the Tajik Parliament in Dushanbe.

Ambassador of Saudi Arabia in Tajikistan Mohammed Al-Badi said that he heard about this information from media.

'The information is wrong,' he said.

According"...

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Swaraj asks Indian envoy in Saudi to help nurse pushed into
June 23, 2017

External Affairs Minister Sushma Swaraj today asked the Indian envoy in Saudi Arabia to help a nurse from Karnataka who has reportedly been pushed into slavery in the Gulf country.

'Javed : Pls help rescue this lady. @IndianEmbRiyadh,' Swaraj tweeted, asking India's Ambassador to Saudi Arabia Ahmad Javed to help Jacintha Mendonca, the Indian nurse.

As"...

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Foreigners 'to inject billions' into Saudi on MSCI inclusion
June 23, 2017

Saudi Arabia could become the ninth largest country on the MSCI Emerging Market index if it wins inclusion in 2019, attracting billions of dollars of inflows, according to analysts.

On Wednesday, index provider MSCI announced the addition of Saudi Arabia to the 2018 annual review cycle for potential inclusion in the MSCI Emerging Markets index the following year.

The"...

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Saudi-UAE demands challenge the fundamentals of international relations
June 23, 2017

A list of 13 conditions for lifting the Saudi-UAE led blockade of Qatar handed to the Gulf state this week by Kuwaiti mediators, offers a first taste of newly-promoted Saudi Crown Prince Mohammed bin Salman's foreign policy approach that if endorsed by the international community would call into question fundamental principles governing international relations. The demand, that if accepted by Qatar would turn the Gulf state into a Saudi vassal, and is unlikely to facilitate a quick resolution of the three-week-old Gulf crisis. In fact, it may complicate a resolution that would allow all parties to claim victory and save face. Saudi Arabia and the UAE have reportedly given Qatar ten days to comply with their demands, according to the list that was reviewed by The Associated Press and The Wall Street......

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Saudi government employees just got their financial perks back
June 23, 2017

Late on Wednesday, King Salman issued a royal order restoring all allowances, bonuses and financial benefits to civil servants with a retrospective effect، Saudi Gazette reported.

“This order shall be effective from the date of the Cabinet’s decision dated"...

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Etisalat Introduces BlazeOn, Based on Comptel’s FWD Solution, to Nigerian Mobile Subscribers 
June 23, 2017

(ME NewsWire)-- Comptel Corporation (NASDAQ OMX Helsinki: CTL1V) today announced that Etisalat Nigeria is launching its time-based mobile data solution BlazeOn, powered by Comptel’s FWD solution, in the Nigerian market. According to the Etisalat Nigeria’s Director, Consumer Segment, Adeolu Dairo, “Most internet users in Nigeria don’t know how much mobile data they consume while browsing or streaming. BlazeOn, our time-based data plan addresses this situation by redefining the purchase experience for our customers. BlazeOn demonstrates Etisalat Nigeria’s commitment to deliver superior customer experience to its subscribers. Our goal is to create more value for our customers by improving quality and introducing innovation. By getting more people online, we hope to empower......

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