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Tag Archives: Saudi Arabia

Saudi Arabia, Tunisia agree to boost economic ties

economic ties

RIYADH: Saudi Minister of Trade and Investment Majid Al-Qasabi has said that the Kingdom is keen on boosting economic and trade ties with Tunisia, as well as supporting the country to counter all challenges facing it. Following his talks with Tunisian President Beji Caid Essebsi on Friday, Al-Qasabi’s added in a press statement that his visit to the North African ... Read More »

Saudi Arabia, Djibouti sign MoUs, agreement

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RIYADH: Two memorandums of understanding (MoUs) and a bilateral agreement were signed on the sidelines of a Saudi-Djibouti businessmen forum in Djibouti earlier this week. The MoUs were signed to rehabilitate King Fahd Road in Djibouti, and a grant was offered to support the health sector there. The signing took place in the presence of Djibouti President Ismail Omar Guelleh ... Read More »

Saudi Arabia, Russia to launch joint projects worth $3bn

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RIYADH: Russia and Saudi Arabia will launch joint projects worth $3 billion by the end of the year, speaker of Russia’s Federation Council said on Monday, according to a media report. Valentina Matviyenko was speaking at a meeting with members of the Russian-Saudi Business Council, the official Russian news agency TASS reported. “Although Saudi Arabia ranks second among the Arab ... Read More »

Saudi Arabia, UAE lead container trade in region

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JEDDAH: Despite global dips, the container shipping trade saw the strongest – but still contracting – growth in the Indian subcontinent and Middle East regions at 5.1%. However, the global climate with respect to container trade dictates that, notwithstanding strong growth in the region, container liners must adopt new strategies for enhancing their performance in a new normal characterized by ... Read More »

Saudi Arabia, Japan pledge to strengthen bilateral ties

economic ties

RIYADH: King Salman was conferred with Japan’s Daisy High Medal by Japanese Emperor Akihito on Tuesday in appreciation of his role as the Custodian of the Two Holy Mosques in Makkah and Madinah. The Japanese emperor presented the medal to the Saudi king during a reception hosted in his honor at the Imperial Palace in Tokyo, SPA reported. In his ... Read More »

Saudi Arabia, Turkey sign 8 agreements to promote business

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RIYADH: Saudi Arabia and Turkey have signed eight agreements in Istanbul in the presence of Commerce and Investment Minister Majid Al-Qassabi and Turkish Economy Minister Nihad Zabka to boost bilateral trade. The signing of agreements took place during the Saudi-Turkish Joint Business Council meeting in Istanbul on Wednesday. Speaking after the signing of the agreements, Zabka said that Turkey has ... Read More »

Saudi Arabia, Russia agree to new oil pact

SAUDI RUSSIA

RIYADH: Saudi Arabia and Russia said Monday that they had agreed to cooperate to stabilize the oil market but stopped short of outlining specific limitations on their petroleum production. Speaking at the G-20 summit of economic powers in China, the oil ministers from the world’s two largest producers said they would form a working group to monitor the market and ... Read More »

Saudi Arabia, New Zealand create bilateral business council

trade

RIYADH: Saudi-New Zealand business relations recently received a boost when the Council of Saudi Chambers (CSC) and New Zealand Middle East Business Council (NZMEBC) signed a memorandum of understanding (MoU) to create a Saudi-New Zealand Business Council. The initiative is expected to enhance bilateral trade relations.  The MoU was signed by CSC Chairperson Abdulrahman Al Zamil and NZMEBC Vice Chairperson Michael ... Read More »

Saudi Arabia, Morocco sign an aid agreement worth $230 mln

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RABAT: Saudi Arabia and Morocco have signed an aid agreement worth $230 million, the Moroccan finance ministry said on Wednesday, part of a five-year package of financial assistance extended by wealthy Gulf states. Four Gulf states – Qatar, Saudi Arabia, Kuwait and the United Arab Emirates – agreed in 2012 to provide aid worth a total of $5 billion to ... Read More »

Saudi Arabia, Iraq sells more oil to India

oil

RIYADH: India’s oil imports from Saudi Arabia and Iraq hit the highest in more than a decade in January as OPEC’s top producers gained at the expense of Latin American crudes, a validation of the OPEC policy of maintaining output and fighting for market share. Competitive prices and shorter shipping distances were giving the Middle East members of the Organisation ... Read More »

Saudi Arabia, Cambodia signs contract for recruitment of domestic helps

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RIYADH: Saudi Arabia on Thursday signed a contract with Cambodia for recruitment of domestic helps from that country. The contract, signed by Labor Minister Dr. Mufrej Al-Haqbani and his Cambodian counterpart Ith Sam Heng, in Riyadh, aims to recruit trained and skilled domestic workers. This comes within the ministry’s efforts to increase the sources for recruitment of workers and open ... Read More »

Jordan, Saudi Arabia agrees to improve Customs procedures at border to ease flow of goods

AMMAN: President of Amman Chamber of Commerce (ACC) Issa Haider Murad on Sunday discussed with Vice Chairman Jeddah Chamber of Commerce and Industry Mazen Mohammad Batterjee ways to improve customs procedures at border crossings in order to ease the flow of goods between the two countries. The meeting tackled a host of issues including, improving economic relations between the two ... Read More »

Jordan, Saudi Arabia agrees to improve Customs procedures at border to ease flow of goods

jordan

AMMAN: President of Amman Chamber of Commerce (ACC) Issa Haider Murad on Sunday discussed with Vice Chairman Jeddah Chamber of Commerce and Industry Mazen Mohammad Batterjee ways to improve customs procedures at border crossings in order to ease the flow of goods between the two countries. The meeting tackled a host of issues including, improving economic relations between the two ... Read More »

Jordan, Saudi Arabia signs $30m fund for industrial city infrastructure

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AMMAN: The Ministry of Finance stated stated that Jordanian government and the Saudi Development Fund Sunday signed a funding grant agreement worth $30 million to finance infrastructure project for new industrial cities. These industrial cities will be established in the governorates of Tafila, Madaba, Jerash and Balqa. The Jordan Industrial Estates Corporation (JIEC) intends to implement and finance these through ... Read More »

New Zealand exports stand $1.4 billion to UAE, Saudi Arabia

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WELLINGTON: John Key, New Zealand’s Prime Minister, is to lead a business delegation to the UAE and Saudi Arabia this week. The visit to the UAE comes as the GCC ranks as New Zealand’s fifth largest export destination with goods exports worth $1.4 billion in the year to December 2014. Exports of goods have grown by an average 10 percent ... Read More »

Resurgent vegetation sucks 4 billion tons of carbon from air

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HONG KONG: Nearly four billion tonnes of additional carbon have been taken out of the atmosphere in the past decade as the planet’s plant cover has expanded, according to satellite data. But that’s still less than 7 per cent of total carbon emissions of 60 billion tonnes over the same period. The change has been attributed to reforestation projects in ... Read More »

S Korea, Saudi Arabia shipping deal increases oil supply

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SEOUL: South Korea and Saudi Arabia have signed a maritime transport deal to increase the oil supply between the two countries. Ships and crew travelling between the two countries will be treated as nationals, and crew identification cards issued by either nation will be accepted. According to the Ministry of Oceans and Fisheries, this will significantly enhance the safety of ... Read More »

S Korea, Saudi Arabia sign pact on naval transportation

maritime

SEOUL: South Korea and Saudi Arabia have signed an agreement on maritime transport that will, in part, help ensure a safe and steady supply of oil to South Korea from the Middle East country. The bilateral agreement was signed in Riyadh on Tuesday, the same day South Korean President Park Geun-hye arrived in the country for a two-day visit. Under ... Read More »

Iran seeks Saudi help to stop decline in oil prices

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IRAN: Iranian Deputy Foreign Minister for Arab and African Affairs Hossein Amir-Abdollahian has called Saudi Arabia’s coordination with Iran to combat and prevent the oil slump in order to protect the economies of the region’s oil producing countries. “We have told Saudi Arabian officials through diplomatic channels that they should prevent the enemies of the region from harming the growing ... Read More »

Saudi Arabia accomplishes $266m port projects

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SAUDI ARABIA: The Saudi Port Authority accomplished a number of several different projects worth about SR1 billion which also included the achievements of expansion of power supply units, new sidewalks and upgrade of security networks. The Yanbu Port project, which cost more than SR400 million ($106 million), had been designed to increase the port’s capacity and capability to receive ships ... Read More »