ALKHOBAR: The 12th International Conference on Seminars and Exhibitions takes place in Bahrain at the Gulf Hotel in Manama on Jan. 27-29, under the Patronage of Prime Minister Shaikh Khalifa bin Salman Al-Khalifa. Delegates and attendees from many companies will benefit from one of four tracks offered during the conference. These presentations are diversified and will relate to all phases of project execution, from opportunities for investments and front end planning to lessons learned and risk assessment.
STC bids for Bahrain license
MANAMA: Saudi Telecom Co. (STC) has become the pre-qualified bidder for the for the third mobile license in Bahrain. The Telecommunications Regulatory Authority (TRA) announced it received one bid from STC out of four registered companies for the third mobile license auction, which was closed on Sunday.
Saudi economy seen contracting
DUBAI: Saudi Arabia’s economy is set to contract 0.9 percent this year on sharp crude production cuts, although the non-oil sector could cushion the decline as the government boosts spending, EFG-Hermes said. But the investment bank, which had previously seen 2.4 percent growth in the Kingdom, expects the economy to come roaring back in 2010 with growth of 4.7 percent.
Mobily’s offer for post-paid packages
RIYADH: Mobily launched a new promotion on Saturday for its new and port-in subscribers. The promotion, which includes post-paid packages Khatti, Khatti Plus, Mada and Najma, grants new and port-in subscribers three hours of talk time everyday for three months. Mobily earlier launched a number of promotions that came in response to the dire situation in Palestine.
Madoff stays out on bail
NEW YORK: A US judge allowed disgraced money manager Bernard Madoff to remain free on bail yesterday, rejecting an attempt by prosecutors to send him to jail for mailing more than $1 million in jewelry to family and friends over the holidays. The decision is sure to outrage investors who have been clamoring for Madoff to be sent to jail for allegedly carrying out the largest financial fraud in history.
Hyundai Motor cuts production
SEOUL: South Korean automaker Hyundai Motor has reduced production due to drop in demand, curbing its output in all three domestic factories with the exception of the small car division in Ulsan, Hyundai spokesman Jake Jang said Monday in Seoul. The measures took effect starting yesterday will see production pulled back by 25 to 30 per cent. by Arab News
