JEDDAH: Saudi Arabia's banking system remains largely insulated from the ongoing events in the euro zone, with high levels of liquidity and solid capitalization ratios, say top economists in the Kingdom.Their reaction came as early results from the referendum in Greece showed that the country has rejected euro zone bailout terms.“There are very few first and second round effects on Saudi and Gulf economies especially in the banking sector.” John Sfakianakis, Middle East director at Ashmore Group, told Arab News.He added: “In terms of trade, there is negligible effect on the Gulf. There will be some one off negative effect on regional stock markets but of little medium term consequence. The region is very well insulated all around.”According to AFP, the euro was dropping against the dollar on Sunday. One euro was worth $1.0987 at 1915 GMT, down 1.20 percent from Friday night, in electron...
KUWAIT CITY: Kuwait is considering charging more than 40 people in connection with a deadly suicide...
JEDDAH: In view of a delay by Twitter in blocking the accounts of Daesh and its supporters, Saudi T...
RIYADH: Custodian of the Two Holy Mosques King Salman has approved naming the project of International Center for Conference being built by the Ministry of Finance in Madinah as King Salman International Center for Conferences, the SPA reported.This was announced by Finance Minister Ibrahim Al-Assaf who explained that the project was designed according to the latest engineering specifications and standards to accommodate...
JEDDAH: A young Saudi, who was born disabled, is today considered the best and most famous painter and designer in the Kingdom, professionals working in the area say.Despite being handicapped by birth, Rakan Kurdi, 22, has never given up and has managed to pursue his career on the Internet and has become an outstanding designer, proving that disability does not limit creativity.Telling his story, Rakan said he enrolled in...

SAUDI ARABIA »

RIYADH: Every year, Saudis prepare for Eid Al-Fitr festivities with great joy and excitement. For children it is both fun and new clothes, which parents buy for them.With ten days to go until Eid Al-Fitr, shoppers were making a beeline to malls and other shopping complexes, especially after the Tara...
DAMMAM: Saudi Commission for Tourism and National Heritage (SCTNH) President Prince Sultan bin Salman and Eastern Province Gov. Prince Saud bin Naif will jointly sponsor the 3rd Saudi Conventions and Exhibitions Forum (Saudicef), scheduled for Nov. 8-10, 2015, at Sheraton Dammam. The forum will be organized by the Specialis...
ALKHOBAR: Bribery can be eliminated by applying the laws strictly and creating public awareness besides an active role by citizens, experts say.Abdulrahman Al-Zahian, a researcher in legal affairs and public policy, said: “The Saudi anti-bribery law extends to include some criminal offenses and set original, supplementary,...
JEDDAH: Since the launch of the Asir Initiative, “Asir … a major tourism destination all year round,” under the patronage of Asir Governor and Chairman of the Tourism Development Council Prince Faisal bin Khalid at the end of 2013, the region has managed to implement three of the initiative’s plans to make Asir the best tou...
RIYADH: The National Committee for Contractors (NCC) at the Council of Saudi Chambers (CSC) and representatives from the Ministry of Labor denied on Sunday delays in releasing SR2,400 in compensation to contractors once the criteria have been finalized. As part of its Saudization drive, the Ministry of Labor (MoL) decided y...
JEDDAH: The Ministry of Education is planning to increase the role of its subsidiary committees in the region and governorates to address the issue of schools increasing the fees on one pretext or another.A source in the ministry has been quoted as saying by local media that the committees will receive complaints against pr...
DAMMAM: All Saudi airports, particularly King Fahd International Airport (KFIA) in Dammam, lack a tourism attraction strategy which requires a formal decision from the government, said Saeed Al-Qahtani, an investor in the tourism sector.He said: “In an attempt to avoid the difficulties faced at the Dammam airport, tour oper...
JEDDAH: Interpol is looking for two Saudis — a former Jeddah mayor and former president of a sports club — who have been convicted in cases related to the 2009 flash floods here.The ex-mayor was sentenced to seven years in prison while the sports official was jailed for three years. The Kingdom sought Interpol's help after...
RIYADH: The Paris-based Organization for Economic Cooperation and Development (OECD) recently discussed here the scope of cooperation with the Kingdom’s Public Education Evaluation Commission (PEEC) in the field of education.The delegation was headed by Stefen Kapferer, deputy secretary-general of the organization, who expr...
RIYADH: Investors and proprietors of recruitment offices have blamed the Ministry of Labor for the rise in the number of illegal brokers, saying that some of the rules are actually counterproductive and promoting black market.The ministry has put a ceiling on the maximum cost of recruitment from Bangladesh and Niger, beside...
DAMMAM: A period of 20 months will be granted to deliver residential apartments for beneficiaries in the Eastern Province, starting from the day of delivering land to developers, and not from the date of signing the contract with them, according to a source in the Ministry of Housing. The source said that this procedure wil...
JEDDAH: Zuhair Rahbeeni, a consultant at the Pediatric and Clinical Genetics Department of Medical Genetics at King Faisal Specialist Hospital and Research Center, said that the criteria used for premarital health examinations fall short of proper standards.He said the procedure is merely a waste of money as the tests do no...
JEDDAH: The police in Jeddah found a runaway girl after 17 days. A news website reported that she had gone missing after she took a taxi on one of Jeddah's roads.The mother of the girl said that the police found the girl on Friday after 17 days. She said that her daughter was fine and healthy, and was not harmed. The mother...

MIDDLE EAST »

ADEN: Fighting gripped Yemen’s second city Aden on Sunday as the UN envoy arrive...

CAIRO: Egypt may take legal action against journalists who report “false” milita...

BEIRUT: The Syrian army and Lebanese Hezbollah fighters said on Sunday they had...

TUNIS: Tunisian President Beji Caid Essebsi on Saturday declared a state of emer...

LONDON: A family of 12 from Luton who were feared to have joined Daesh has relea...

WORLD »

ATHENS: Greece’s Finance Minister Yanis Varoufakis on Monday said he was resigni...

GLEN, US: Hillary Clinton has accused China of “trying to hack into everything t...

BEIJING: Twelve people died after a shoe factory collapsed in eastern China duri...

PESHAWAR/DERA ISMAIL KHAN: At least seven soldiers and 12 militants were killed...

THIRUVANANTHAPURAM: Aster DM Foundation, A charitable organization, has committe...

SPORTS »

BERLIN: FIFA president Sepp Blatter said in a Sunday newspaper interview that Fr...

ZEELAND, Netherlands: Andre Greipel won the second stage of the Tour de France o...

MANILA: Alaska is continuing to give out clinics on how to play the endgame righ...

VERSAILLES, France: Bernd Wiesberger won the biggest title of his career at the...

WHITE SULPHUR SPRINGS, West Virginia: American Jason Bohn fired a nine-under 61...

ECONOMY »

JEDDAH: Saudi Basic Industries Corp. (SABIC) said it had completed the formation of a joint venture with South Korean petrochemical manufacturer SK Global Chemical Co. to...
FRANKFURT: Berlin is wooing private investors including Macquarie and JP Morgan to take a stake in its much-delayed new international airport, German newspaper Bild reported.The investors are to be given confidential details of the airport’s business plans so that they can make concrete offers, Bild a.m. Sonntag said, witho...
BERLIN: Greece will have to introduce another currency if it votes ‘No’ in the referendum on its potential bailout terms, European Parliament president Martin Schulz said on German radio.He told Deutschlandfunk that, in the event of a ‘No’ result, Greece would “have to introduce some other currency because the euro is not a...
JEDDAH: Saudi Arabia’s key market index edged up 0.3 percent despite a purchasing managers’ survey showing growth in Saudi Arabia’s nonoil private sector slowed in June to its lowest level since the survey was launched in August 2009. Alinma Bank, the most heavily traded stock, added 1.6 percent.Saudi Basic Industries climb...
DHAKA: The Organization for Economic Cooperation and Development (OECD) has upgraded its rating for Bangladesh, in a move that should make it easier for local entrepreneurs and banks to secure credit, the country’s central bank governor said on Sunday.Atiur Rahman said the decision was made at a recent meeting of the Swiss...
VIENNA: Since the start of tortuous nuclear negotiations with Iran, France has been seen as taking the toughest stand. Now as a deal nears, Paris must be ready to dash in and grab a slice of long untapped market.“The first repercussions of any deal will be the opening of the Iranian market. That’s what all the Western count...
JEDDAH: Growth in Saudi Arabia’s nonoil private sector slowed in June, a survey of businesses showed.Underpinning the overall slowdown was the weakest rise in new orders since the survey began in 2009, while output growth also slowed during the month. The rates of expansion remained sharp overall, and resulted in another ro...
DUBAI: The continued confidence in Dubai’s maturing real estate market has been underlined by a 30 percent increase in exhibitors at the Middle East’s largest property showcase, Cityscape Global.While the 14th edition of the event prepares to host more than 300 exhibitors in a significantly expanded exhibition arena, global...
DUBAI: Dana Gas, one of the largest oil and gas investors in Iraq's semi-autonomous Kurdish region, said on Sunday that it had obtained a favourable ruling from a London arbitration tribunal in its dispute with Kurdistan authorities.The Abu Dhabi-listed firm, which leads a consortium of investors, had filed an arbitration c...
DUBAI: Business activity growth in the United Arab Emirates' nonoil private sector slowed to a 22-month low in June, partly because of the start of the holy month of Ramadan, a corporate survey showed.The seasonally adjusted Emirates NBD UAE Purchasing Managers' Index, which covers manufacturing and services, fell to 54.7 p...
JEDDAH: The cyclicality of the oil and gas industry is unlikely to impact the long term trajectory of the sector. However the current fluctuations may speed up some of the trends that were already unfolding according to Deloitte’s latest Oil and Gas Reality Check 2015 report. The report outlines six of the major issues curr...
The latest readings of the Purchasing Managers’ Index (PMI) suggest that the recovery in the main developed economies is ongoing, while the manufacturing sector in most of Asian economies is experiencing a contraction. The US is leading the recovery with PMI readings which have remained steadily above 50 for the last five y...
Would you carry a small packet for someone. Sure, you would, especially if you know them. Come on, you have to trust someone. You agree. No problem. What if it contravenes rules. Are you innocent or guilty. Response. Innocent carriers may get sympathy but that won't take them very far. The fact is that innocence is very dif...
 
 

OPINION »

The city of Taif is located just north of the southwestern part of Saudi Arabia....
In an attempt to find concrete solutions to the ongoing conflicts in the region,...
It has been more than 10 years since the beginning of King Abdullah Scholarship...
In the previous article, I expressed my happiness over the pleasant weather here...

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ART & CULTURE »

DAMMAM: The World Heritage Committee of the UN Educational, Scientific and Cultural Organization (UNESCO) has added the rock art in Hail to the World Heritage List.
The addition was made during the committee’s 39th session in Bonn, Germany, and became the fourth site in the Kingdom to be included in the list.
Other local sites includ...

SCIENCE & TECHNOLOGY »

KAPOLEI: The Solar Impulse 2 aircraft completed an historic flight in its quest to circle the globe without consuming a drop of fuel, touching down gracefully in Hawaii on Friday after the most arduous leg of its journey.

The sun-powered plane, piloted by veteran Swiss aviator Andre Borschberg, took five days to make the historic voya...

FASHION »

Countries in the Middle East may be changing in terms of technology and development. However, when it comes to making a fashion statement, these countries including Saudi Arabia allude back to traditional and cultural trends, which are increasingly becoming popular today. Saudis and Arabs are proud and hospitable people, and they take due pride...

TRAVEL »

JEDDAH: Since the launch of the Asir Initiative, “Asir … a major tourism destination all year round,” under the patronage of Asir Governor and Chairman of the Tourism Development Council Prince Faisal bin Khalid at the end of 2013, the region has managed to implement three of the initiative’s plans to make Asir the best tourism destination by 20...

FOOD & HEALTH »

Ramadan is that time of the year when most people go back to their roots in terms of their traditions, clothing, culture and food. You find long queues in front of small, local restaurants that sell ful (mashed fava beans) and tameez (Afghani flatbread) before iftar as well as suhoor.AlAyoubi Restaurant, which opened recently, celebrates authentic Hijazi cuisine with recipes that go back to the older generations. The restaurant provides a traditional iftar experience and an extensive range of Arabic delicacies, including Arabic coffee, dates, ful, balilah, and international offerings along with Ramadan beverages and Hijazi culinary masterpieces.The restaurant is located in north Jeddah,...
Last week, I described to you our 24-hour daily cycle, which regulates our biological clock. I also explained the two phases of sleep (the slow-wave sleep and REM sleep) and how each type impacts the body and brain. Slow-wave sleep, which is the profound sleep, occurs around midnight and lasts for about two hours. This type of deep sleep is critical for rebuilding the body from wear and tear; boosting the immune system; repairing cells, neurons, tissues, bones, muscles, wounds, and breaks; and does whatever else is needed for repair. This short sleep is vital for the regeneration and restoration of the body physiologically. New-borns, children, adolescents, athletes, and active people...
RIYADH: Medical studies and research for new methods in the treatment of chronic diseases suggests that fasting could help combat cancer and boost effectiveness of treatment.Scientists doing research on the positive aspects of fasting discovered that it triggers stem cell regeneration and combats cancer.Dr. Mashhor Al-Hantoushi, who heads the health and therapeutic affairs department at the Ministry of Health, told Arab News on Monday: “Medical research studies found that fasting could slow the growth of breast cancer, melanoma skin cancers, glioma brain cancer and neuroblastoma, a cancer that forms in the nerve tissue.”Replying to a question on whether fasting could make chemotherapy more...

OFFBEAT »

PESHAWAR: A lover’s eyes compared to a drone strike, a smile to a suicide bomb and lips to fire.The violence of Pakistan...
CAIRO: US star Paris Hilton is rumored to be in the process of filing a lawsuit against Egyptian TV host Ramez Galal for tricking her into thinking that her plane was about to go down on an episode of his hit Ramadan show “Ramez in Control.”But The Simple Life star might not be the only celebrity with a grudge against the elaborate prankster.Egyptian actress Zeina is also rumored to be furious with Ramez and wanting to sue him for playing the same prank on her.However, Zeina has reportedly denied the rumors, asking everyone to “Stop the rumors please. I never said that I’ll be suing Ramez...
NEW YORK: US pop legend Billy Joel married longtime girlfriend Alexis Roderick in a surprise wedding Saturday, popping their nuptials on unsuspecting guests at a July 4 holiday party, the singer’s publicist said. The wedding, which took place on Joel’s Long Island estate, was officiated by New York Governor Andrew Cuomo.Joel and Roderick “surprised guests at their annual July 4th party by exchanging vows in front of their family and close friends,” said a statement sent to AFP by Joel’s publicist Claire Mercuri.Among the guests were actor Kevin James and Joel’s daughter Alexa Ray Joel — whom...

CLASSIFIEDS »

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