Latest in Tag: saudi arabia Highlight

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Latest in Tag: saudi arabia


BREAKING: Saudi closed Libya embassy, evacuates diplomats

AFP – Saudi Arabia closed its embassy in Tripoli on Monday and evacuated all its diplomats over “security” concerns in Libya, the SPA state news agency reported. The Saudi ambassador to Libya Mohammed Mahmud al-Ali told SPA the kingdom’s consulate in Libya was also closed “due to the current circumstances and the security situation.” He said all diplomats in …

Daily News Egypt

First MERS infection detected in Egypt: state TV

AFP – Egypt recorded its first MERS infection after a person who arrived from Saudi Arabia tested positive for the virus, state media reported on Saturday. MERS infections have killed 92 people in Saudi Arabia, where the coronavirus was first detected in humans in 2012. State television reported the patient was in a Cairo hospital …

Daily News Egypt

ICD boosting activity in Africa to widen Islamic finance appeal

Reuters – The private sector arm of the Jeddah-based Islamic Development Bank plans to increase its activities in Africa, part of plans to widen the appeal of Islamic finance across the region, its chief executive said. Established in 1999, the Islamic Corporation for the Development of the Private Sector (ICD) supports the economic development of …

Daily News Egypt

UAE’s Air Arabia bets on Ras Al Khaimah hub

The Sharjah-based budget carrier, which currently operates out of three hubs in the Gulf and North Africa region, signed an agreement with the RAK government in February declaring it the official carrier for the emirate and RAK airport as its new hub.

Daily News Egypt

Saudi end to girls’ sports ‘welcome’: HRW

AFP- Human Rights Watch welcomed Saturday a recommendation by Saudi Arabia’s consultative Shura Council to lift the ban on sports in girls’ state schools. On Tuesday, the council recommended that the longstanding ban, relaxed in private schools last year, be ended altogether, state media in the ultra-conservative Muslim kingdom reported. It is now up to …

Daily News Egypt

Saudi Arabia’s NCB plans capital hike before IPO

Reuters – National Commercial Bank, Saudi Arabia’s biggest bank by assets, plans to boost its capital by SAR 5bn ($1.3bn) through conversion of its retained earnings into capital, it said in an emailed statement on Tuesday. The announcement comes one month after the Saudi government said it planned to float 15% of the state-owned bank …

Daily News Egypt

Saudi Arabia’s Algosaibi calls may creditor meeting: bankers

Reuters – Saudi Arabian conglomerate Ahmad Hamad Algosaibi& Brothers has called a meeting of creditor banks in Dubai on 7 May to discuss a proposed settlement of billions of dollars of unpaid debt, commercial bankers said on Monday. The 2009 collapse of Algosaibi’s Bahrain unit, The International Banking Corp, and Awal Bank, owned by Maan …

Daily News Egypt

Qatar buys helicopters, missiles in $23bn arms deals

Reuters – Qatar announced contracts worth about $23bn on Thursday to buy attack helicopters, guided missiles, tankers and other weapons from Boeing Co, Airbus and other arms makers as the Gulf state accelerates its military build-up. The world’s top liquefied natural gas (LNG) exporter announced deals with about 20 global companies, including firms from the …

Daily News Egypt

Qatar calls for dialogue in Egypt

Relations between Egypt and the Gulf state have been strained over Doha’s backing for Islamist president Mohamed Morsi, who was ousted by the army in July following nationwide protests.

Daily News Egypt

Egypt’s Naeem Holding to cross-list on Abu Dhabi exchange

Reuters – Naeem Holding for Investments has received approval from the United Arab Emirate’s financial regulator to list on the Abu Dhabi exchange, the firm said, a further sign of closer economic ties between Egypt and the Gulf. “Coordination is ongoing with the Abu Dhabi market and the necessary measures for receiving the approval of …

Daily News Egypt