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  • Yemen lawmakers draft bourse authority to attract investment

    Filed under News
    Sep 3

    SANAA – Lawmakers drafted a bill to start a securities exchange authority in Yemen, hoping to speed up the opening of a bourse and encourage investment despite its sinking economy and severe security risks.

    “For us to move out of the challenges we face, we need a lot of investment in the development of Yemen, whether its domestic or foreign…a strong stock market would help that,” Jalal Yaqoub, a spokesman for the minister of finance, said.

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    Tagged as: finance;, Jalal Yaqoub, Minister of Finance, oil industry, President, Reuters;, Sanaa, spokesman, USD;, Yemen;
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  • Brazil Petrobras reach 425 billion oil accord

    Filed under News
    Sep 3

    BRASILIA – Brazils state-controlled oil giant Petroleo Brasileiro SA has agreed to pay the federal government $42.5 billion in stock to acquire five billion barrels of deepwater reserves, a controversial price because investors say it is more than the oil is actually worth.

    Shares of Petrobras, as the company is known, have crumbled this year on investor expectations the oil company would come under government pressure to pay above market price for oil reserves it is acquiring under a recapitalization plan. Petrobras also plans to sell new shares to the public to raise an additional $25 billion in cash under the plan.

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    Tagged as: BRASILIA, Brazil, Brazilian coast, driver for Brazils future development, Federal Government;, George Soros, Luiz Inacio Lula da Silva, oil accord, oil finds, oil giant, oil;, Petrobras, Petroleo Brasileiro SA, President, underwater oil, United States;, USD;
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  • Video plea to Obama to pardon Saudi launched

    Filed under News
    Sep 1

    JEDDAH: A number of Saudi youths launched a film on Tuesday appealing to US President Barack Obama to use his constitutional power of presidential pardon to set free a Saudi man jailed for sexual assault.

    Humaidan Al-Turki is currently serving 28 years in a US prison.

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    Tagged as: Abdullah Al-Almi, Al-Muhanad Al-Kadam, America;, Asim Al-Ghamdi, Barack Obama;, Colorado, Facebook, Hassan Al-Saffar, Humaidan Al-Turki, Imam Muhammad ibn Saud;, Islamic University in Riyadh, JEDDAH, journalist, maid, media personality, Najeeb Al-Zamil, President, Ruba, Saud Islamic University, Shoura Council;, Sulaiman Al-Oudah, Supreme Court, Twitter, United States;, University of Colorado, University of Colorado at Denver
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  • Cabinet OKs salary hike for military officers change in power supply

    Filed under News
    Aug 31

    JEDDAH: The Council of Ministers on Monday night decided to change the power supply from 127/220V to 230/400V in two phases over 25 years. It also decided to increase the salaries of military officers.

    The change in the voltage of power supply in new regions and for new subscribers would start with the implementation of the decision, Culture and Information Minister Abdul Aziz Khoja said.

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    Tagged as: Abdul Aziz Khoja, Abdullah;, Al-Aqsa Mosque, Baha Gov. Prince, basic law, Council of Ministers;, Culture and Information Minister, Custodian, Czech Republic, Deputy Premier and Minister of Interior, Finance Minister, Governor, head of sergeants, Ibrahim Al-Assaf;, International Monetary Fund;, International Monetary Funds executive council, International Renewable Energy Agency, Iraq;, JEDDAH, King, Lieutenant, Minister, Ministry of Culture and Information, Mishari bin Saud, Naif;, President, Prince, Ramadan;, Saudi Electricity Company;, Somalia
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  • International psychology conference on Oct 5

    Filed under News
    Aug 31


    DAMMAM – Dammam University will organize the first international psychological conference on Oct. 5. Dr. Abdullah Al-Ribeish, President of Dammam University, hoped that the conference would yield positive results and benefit persons suffering from psychological problems. The conference will review issues pertaining to psychological services and regulations. As many as 500 delegates will attend the conference. It will have lectures and workshops as well as a panel discussion on the scientific researches in the field of psychology. – SPA

    Tagged as: Abdullah Al-Ribeish, DAMMAM UNIVERSITY, President
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  • Limited response seen to the SR1m check for Jeddah flood victims

    Filed under News
    Aug 31

    JEDDAH – The General Court in Jeddah witnessed a limited response Monday from people who are entitled to SR1 million compensation checks King Abdullah ordered for families of people who lost their lives in the Jeddah flood disaster.

    The first people arrived after 12 noon and only 12 requests were referred to judges in preparation for issuing the checks. One woman among those seeking the checks was deeply saddened by her loss.

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    Tagged as: Abdullah;, attorney, bank;, Custodian, Director, Eid Al-Fitr;, General Court in Jeddah, General Court;, Ibrahim Al-Qanni, JEDDAH, judge, King, King Abdulaziz University;, law offices, location, Muhammad Al-Ghamdi, Omar Al-Khouli, President, professor of law, Saudi Arabian Monetary Agency;
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  • US economy not growing fast enough

    Filed under News
    Aug 31

    WASHINGTON – President Barack Obama said on Sunday the US economy was expanding, but not quickly enough, and there was no “magic bullet” that will fix its problems.

    Obama said in an NBC interview that the batch of grim economic data over the past few weeks was something his administration had anticipated.

    Gloomy reports on gross domestic product and housing have raised fears the fragile economy could slip back into a recession or face a lengthy period of growth that is too slow to make much of a dent in the 9.5 percent unemployment rate.

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    Tagged as: bank;, Barack Obama;, Ben Bernanke, chairman, clean energy, Congress;, Department of Commerce, gross domestic product;, Iraq;, Marthas Vineyard, Massachusetts, MIddle East;, NBC, New Orleans, President, U.S. Congress, United States;, US Federal Reserve, Washington;, White House;
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  • King Abdullah discusses global issues with Obama

    Filed under News
    Aug 31

    JEDDAH: Custodian of the Two Holy Mosques King Abdullah and US President Barack Obama discussed Tuesday major international issues on telephone, the Saudi Press Agency reported.

    It said the US president telephoned the king to convey Ramadan greetings, adding that King Abdullah thanked Obama for the gesture.

    During the telephone conversation, the two leaders also discussed bilateral relations.

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    Tagged as: Abdullah;, Afghanistan;, Barack Obama;, Custodian, JEDDAH, King, President, Ramadan;, Saudi Press Agency;, telephone conversation, United States;, US president, White House;
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  • SR116m to be paid to kin of Jeddah flood victims

    Filed under News
    Aug 30

    JEDDAH – The General Court is scheduled to start payment Monday of SR116 million to families of people who died in the Jeddah flood disaster, Sheikh Ibrahim Al-Qanni, President of the Jeddah General Court, said on Sunday.

    Sheikh Al-Qanni said the court has prepared the checks and they have been referred to judges who will distribute them. The funds were drawn from the Saudi Arabian Monetary Agency as per the orders of King Abdullah, Custodian of the Two Holy Mosques, to compensate families of those who were killed in the heavy rain and flooding that hit the city on Nov. 25 last year. 

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    Tagged as: Abdullah;, Custodian, date, effect, General Court;, Ibrahim Al-Qanni, JEDDAH, Jeddah General Court, King, location, President, Saudi Arabian Monetary Agency;
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  • SCTA to set up more regional museums

    Filed under News
    Aug 30

    RIYADH – The Saudi Commission for Tourism and Antiquities (SCTA) has started setting up five new regional museums in Dammam, Abha, Hail, Tabuk, and Al-Baha and is working on finalizing studies for re-furbishing and upgrading six existent museums in Domat Al-Jondal, Tema, Al-Ula, Al-Hafoof, Sebea and Najran.

    Prince Sultan Bin Salman Bin Abdul Aziz, President of the SCTA, has commended the special cooperation and partnership between Hail province and his organization in various fields.

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    Tagged as: Abdul Aziz bin Saad, businessmen, chairman, chief, deputy chairman, Emir, Emir of Hail province and Deputy Chairman, Hail Development and Hail Tourism Development Council, Hail Tourism Development Council, Higher Commission for Hail Development, Higher Commission of Hail Development, Mohammed Bin Abdul Lateef, President, Prince, Riyadh, Salman Bin Abdul Aziz, Saud Bin Abdulmohsin, Saudi Commission for Tourism and Antiquities;, Sultan Bin Salman Bin, Sultan Bin Salman Bin Abdul, US Federal Reserve
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