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State oil giant Saudi Aramco has asked oilfield service companies for discounts due to tumbling crude prices and is expected to keep its overall rig count steady this year, industry sources said on Tuesday.
Saudi Arabia’s Public Investment Fund (PIF) is in talks to buy a stake in South Korean steelmaker Posco’s engineering and construction unit as ties strengthen between the company and the state-backed investor.
Benjamin Netanyahu is facing a storm of criticism because of his "embarrassing" behaviour at Sunday's mass solidarity march in Paris and his calls for French Jews to emigrate to Israel following last week's deadly attack on a Jewish supermarket.
Jarir Marketing, Saudi Arabia's second-largest listed retailer by market value, beat analysts' estimates as it posted a 25.5 percent increase in fourth-quarter net profit on Wednesday on the back of higher turnover.
Turkey has been adamant that any force deployed in Syria must have as a goal defeating the Assad government, but the Obama administration has insisted it is interested only in battling the Islamic State. There is no need to define the ultimate target now, the Turkish official said, because rebel forces already are fighting a two-front war, against both the Syrian government and the Islamic State.
Falling world oil prices will hurt countries across the Middle East unless Saudi Arabia, the world's biggest crude exporter, takes action to reverse the slump, Iran's deputy foreign minister told Reuters. Hossein Amir Abdollahian described Saudi Arabia's inaction in the face of a six-month slide in oil prices as a strategic mistake and said he still hoped the kingdom, Tehran's main rival in the Gulf, would respond.
Although Noora Al Adwan has succeeded in convincing the Council’s culture and information committee of the significance of her proposal, she is likely to face a formidable struggle with women who do not support her motion. The Shura member had earlier this year come under fire after she accused Saudi women working for national television channels of not complying with the traditional Saudi attire and exaggerating their makeup, local daily Al Watan reported on Monday.
Using the religion to justify mass murders like the one in Peshawar is even more cruel and heinous than the act itself. That’s because two sins are committed—the murders themselves, and then defamation of Islam by using the religion to justify them.
From less than 50 incidents of terrorism in 2002, according to Global Terrorism Index, Pakistan has now become one of the worst victims of terror attacks anywhere in the world with almost 2,000 incidents last year. It was the third-worst terrorism-affected country in 2013 (pdf), with the number of fatalities rising by 20% in the last two years.
The opening of the market to direct foreign investment may be months away, but Middle East asset managers are already gearing up to capture the investment flows expected to pour into the Arab world’s biggest bourse. Their plans — from creating new Saudi-focused funds to establishing or expanding offices in the country’s capital, Riyadh — show they don’t want to miss any opportunities in the soon-to-open $543 billion emerging market.
