Business

Saudi Economic Reforms Increase Non-oil Revenues by 80%

Saudi Economic Reforms Increase Non-oil Revenues by 80%

Saudi non-oil revenues rose nearly 80 percent in the third quarter of 2017, a clear indication that economic reforms carried out by Saudi Arabia are paying off. Saudi Minister of Finance Mohammed al-Jadaan announced the government’s third quarter 2017 budget performance update.

Jordan, US Agree on Establishing Logistic Airport in Mafraq

Jordan, US Agree on Establishing Logistic Airport in Mafraq

The Jordanian government has reached a deal with a US company to establish an airport for logistics services in Mafraq, which is located northeast of the capital Amman, close to the Jordanian-Syrian border and on the international road connecting Jordan with Iraq. Minister of Industry and Trade Y

Cairo Hosts 21st ASEA Annual Meeting: Africa Mapping the Future

Cairo will host on Monday the two-day conference of African Securities Exchanges Association (ASEA), sponsored by Egyptian Prime Minister Sharif Ismail, Investment Minister Sahar Nasr, alongside a number of African ministers, delegations of international and regional financial institutions. The A

Libyan Oil Subject to Bargaining, NOC Seeks US Support

Libyan Oil Subject to Bargaining, NOC Seeks US Support

Libyan analysts linked continuity in exporting oil to the security stability of Libya.

80% of Saudis Use Smartphones in E-Shopping

80% of Saudis Use Smartphones in E-Shopping

Ronaldo Mouchawar, CEO and co-founder of Souq.com, which was acquired by Amazon, revealed that 80 percent of Saudis use smartphones in e-shopping. In remarks to Asharq al-Awsat newspaper, Mouchawar said the e-commerce sector was growing at a rate of 30 to 40 percent per year, while Saudi Arabia

Saudi Arabia's Falih: Too Early to Assess Oil Production Cut

Saudi Arabia's Falih: Too Early to Assess Oil Production Cut

Saudi Arabia’s Energy Minister Khalid al-Falih said on Thursday it was too early to make an assessment on a possible extension to global oil output cuts but that the market would still not be balanced by March, when the current deal expires. “We will decide in two weeks (on a possible extension).

Jordan's Tourism Revenues Rise by 12.7% End of October

Jordan's Tourism Revenues Rise by 12.7% End of October

The Central Bank of Jordan reported that tourism revenues rose by 12.7 per cent during the first ten months of this year to around $3.9 billion, up from $2.4 billion generated during the same period in 2016. The CBJ, in a statement issued on Wednesday, attributed that to the rise in the number of

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