BUSINESS


BUSINESS | Too Early To Assess Impact Of Coronavirus On EU Economy: Commission

BRUSSELS – It is still too early to assess the impact of the coronavirus outbreak on the European Union economy, the bloc’s economics commissioner Paolo Gentiloni said on Wednesday. ‘An assemenet and a serious forecast is not yet possible’, Gentiloni told a news conference in Brussels, acknowledging that there had already been ‘a partial materialization’ … Continue reading BUSINESS | Too Early To Assess Impact Of Coronavirus On EU Economy: Commission

BUSINESS | Saudi PIF Unit SEVEN To Build Them Parks And Entertainment Centers Across The Kingdom

JEDDAH | The Saudi Entertainment Ventures Company (SEVEN) plans to develop them parks and entertainment centers around the country. Plans include 20 entertainment destinations, 50 cinemas and two large them parks in prime locations across the Kingdom, the Public Investment Fund unit said in a  statement on Tuesday. Each complex will feature several entertainment and … Continue reading BUSINESS | Saudi PIF Unit SEVEN To Build Them Parks And Entertainment Centers Across The Kingdom

BUSINESS | OPEC+ Will Respond Responsibly To Spread Of Coronavirus, Says Saudi Energy Minister

RIYADH | Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said on Tuesday he was confident that OPEC and its partner oil-producing nations, the so-called OPEC+ group, would respond responsible to the spread of the coronavirus. He also said Saudi Arabia and Russia would continue to engage regarding oil policy. ‘Everything serious requires behind attended … Continue reading BUSINESS | OPEC+ Will Respond Responsibly To Spread Of Coronavirus, Says Saudi Energy Minister

BUSINESS | Goldman Steps Up Staff Travel Restrictions As Coronavirus Spread

LONDON – Goldman Sachs has restricted all business travel to, from and within South Korea and the Northern Italian regions of Lombardy and Veneto in the wake of the coronavirus spread, a staff memo seen by Reuters on Tuesday shows. The Wall Street lender has also advised staff to postpone all non – essential travel … Continue reading BUSINESS | Goldman Steps Up Staff Travel Restrictions As Coronavirus Spread

BUSINESS | Saudi Aramco launches largest shale gas development outside U.S.

DAMMAM | SAUDI ARABIA – – Saudi Aramco is launching the biggest shale gas development outside of the United States to boost domestic gas supply and end the burning of oil at its power generation plants, Chief Executive Officer Amin Nasser told Reuters on Monday. The world’s top crude oil exporter had for years battled … Continue reading BUSINESS | Saudi Aramco launches largest shale gas development outside U.S.

BUSINESS | Aramco Says Received Approval For Jafurah Gas Field Development

RIYADH | SAUDI ARABIA – – Saudi Aramco said on Saturday it had received regulatory approval to develop Saudi Arabia’s Jafurah non-associated gas field and expects production to start in early 2024. It said output would reach around 2.2. billion cubic feet per day of sales gas by 2036, with an associated 425 million cubic … Continue reading BUSINESS | Aramco Says Received Approval For Jafurah Gas Field Development

BUSINESS NEWS | Saudi GDP Growth Projected To See An Uptick This Year, Backed By Non –Oil Sector: Central Bank

RIYADH | Saudi Arabia’s economic growth is projected to see an uptick this year, backed by the non – oil economy, the country’s central bank governor said on Saturday. Saudi Arabian Monetary Authority (SAMA) Governor Ahmed Al-Kholifey, also told an economic conference in Riyadh that it was too early to get the full picture of … Continue reading BUSINESS NEWS | Saudi GDP Growth Projected To See An Uptick This Year, Backed By Non –Oil Sector: Central Bank

BREAKING NEWS | G20 Financial Leaders See Modest Growth Pick-Up, Coronavirus A Risk – Draft Communiqué

BRUSSELS – Financial leaders of the world’s 20 largest economies (G20) expect a modest pick-up in global economic growth this year and next, but the coronavirus epidemic is a downside risk, a draft communique prepared for the meeting on Feb. 22-23 said. ‘After signs of stabilization at the end of 2019, global economic growth is … Continue reading BREAKING NEWS | G20 Financial Leaders See Modest Growth Pick-Up, Coronavirus A Risk – Draft Communiqué

BREAKING NEWS | Grifols To Help Saudi Arabia Produce Blood Plasma Medicines

MADRID | SPAIN – – Spanish pharmaceutical company Grifols said on Tuesday it had signed a non-binding agreement with Saudi Arabia’s sovereign wealth fund to help the country produce plasma-derived medicine. Barcelona – based Grifols and the Public Investment Fund (PIF) have agreed in principle to create a joint venture that will develop plasma collection … Continue reading BREAKING NEWS | Grifols To Help Saudi Arabia Produce Blood Plasma Medicines

BUSINESS | EU Adds Seychelles, Cayman Islands, Panama To Tax Haven Blacklist, Spares Turkey

BRUSSELES  – European Union finance ministers added Panama, the Seychelles, the Cayman Islands and Palau to the EU’s blacklist of tax havens, while giving Turkey more time to avoid being listed, an EU document said on Tuesday. The list, which was set up in 2017 after revelations of widespread tax evasion and avoidance schemes, now … Continue reading BUSINESS | EU Adds Seychelles, Cayman Islands, Panama To Tax Haven Blacklist, Spares Turkey

BUSINESS | L’Oréal Signs On As Latest Expo 2020 Partner

 PARIS | FRANCE – – L’Oréal can expect even more flair at Expo 2020 at the event names L’Oréal as its official beauty products and services partner. L’Oréal is removed the world over for its best-selling cosmetics and fragrances and the international talent it work with. Through immersive experiences, including beauty shows, dedicated salons, pop-up … Continue reading BUSINESS | L’Oréal Signs On As Latest Expo 2020 Partner

BUSINESS | Saudi’s Amaala Gigaproject Reveals Members on Advisory Board

RIYADH | SAUDI ARABIA – – Amaala, the ultra-luxury development located along Saudi Arabia’s northwest coast, has announced its Advisory Board. Amaala is one of the giant projects belonging to the Kingdom Vision 2030. Dubbed the ‘Riviera of the Middle East’, Amaala is set out to become a unique destination by all standards. The Members … Continue reading BUSINESS | Saudi’s Amaala Gigaproject Reveals Members on Advisory Board

BUSINESS | Saudi Arabia Cuts March Crude Supply To Some Asian Buyers: Sources

MILAN | ITALY – – The world’s top oil exporter Saudi Arabia has reduced crude supplies to some Asian buyers in March after refines cut output following the coronavirus outbreak and for regular maintenance, four sources with knowledge of the matter said on Wednesday. The drop in supplies comes after state oil giant Saudi Aramco … Continue reading BUSINESS | Saudi Arabia Cuts March Crude Supply To Some Asian Buyers: Sources

WORLD NEWS | Lockheed Martin Drops Out Of Singapore Airshow Over Coronavirus Concerns

PARIS | FRANCE – – U.S. weapons maker Lockheed Martin Corp said on Friday it will not participate in next week’s Singapore Airshow over coronavirus concerns. ‘Following the Singapore Ministry of Health’s Feb.7 declaration of a Code Orange health alert, we consulted with the U.S. government and our medical teams and decided not to participate … Continue reading WORLD NEWS | Lockheed Martin Drops Out Of Singapore Airshow Over Coronavirus Concerns

SOCIAL MEDIA | Twitter says Facebook, Messenger Accounts Hacked

MILAN | ITALY – – Twitter confirmed on Friday that the official Twitter accounts of social media giant Facebook Inc and its Messenger platform were hacked. A Twitter spokesperson said in an emailed statement that the accounts were hacked through a third-party platform. ‘As soon as we were made aware of the issue, we locked … Continue reading SOCIAL MEDIA | Twitter says Facebook, Messenger Accounts Hacked