Economy

Work on the Kingdom Tower in Jeddah is now above the ground and construction is moving at an accelerated pace, a top official announced on Wednesday.“The tower will be ahead of any other high-rise...
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Iconic Jeddah Kingdom Tower construction work gathers pace

Work on the Kingdom Tower in Jeddah is now above the ground and construction is moving at an accelerated pace, a top official announced on Wednesday.



STC picks banks for debut sukuk issue

DUBAI: Saudi Telecom Co (STC), the Gulf's biggest telecommunications operator by market value, has picked three banks to manage its debut Islamic bond offer, banking sources aware of the transaction t



Telecom stocks down 1.92 percent

The Saudi stock market continued its downward momentum and fell for a third consecutive session on Wednesday.



UN nuclear program gains momentum

With an ambition to generate up to 25 percent of its electricity needs — or 5.6GW — through nuclear means by 2020 nuclear energy has gained momentum in the UAE.



Spacious new Heathrow Terminal 2 set for opening

LONDON: The rundown, overcrowded Terminal 2 at London’s sprawling Heathrow Airport is long gone, about to be replaced by a spacious new building built to handle 20 million passengers each year.



Dubai Investments raises foreign ownership cap to 35%

Dubai Investments, the largest investment company listed on the Dubai Financial Market (DFM), has raised the foreign ownership limit in the company from the existing 20 percent to 35 percent.



Toyota outsells GM and VW to retain top spot

TOKYO: Toyota kept its position at the top in global vehicle sales for the first quarter of this year, outpacing rivals General Motors and Volkswagen.



Boeing lifts profit outlook as jetliner demand booms

NEW YORK: US aerospace and defense giant Boeing raised its 2014 profit outlook despite a first-quarter profit slide, citing strong demand for its new jetliners.




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