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#TooLateObama: Muslims dismiss mosque visit

  • BALTIMORE: President Barack Obama made his first visit to a US mosque on Wednesday, in an effort to allay the fears of Americans accustomed to pop-culture portrayals of Muslims as terrorists, and to reassure Muslim American youth about their place in the nation.Obama, declaring that attacks on...
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$ 236 bn: Businesswomen grow in value

  • Amid the goodwill, congeniality and humor there was bracing message at the core of the Arab women in the Global Economy Forum: ‘Seize your opportunities! Be original! Don’t talk about equality — achieve it!’Held at the Arab-British Chamber of Commerce in London, the conference attracted high...
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$ 3 billion Saudi-Egypt causeway project on track

  • JEDDAH: Saudi Arabia and Egypt are going ahead with the proposed $ 3 billion causeway project that will boost economic and social relations between the two countries, said Egyptian Transport Minister Mohamed Rashad Al-Mateny.A technical committee will meet in late September to discuss first steps...
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$ 5 billion loan for Jubail petchem project cleared

  • The US Export-Import Bank has approved a record-breaking $4.975 billion direct loan to help build a petrochemical complex in the Kingdom, the bank said. The loan to the Sadara Chemical Company, a joint venture between Dow Chemical Co. and Saudi Aramco, is the biggest in the bank’s history, Ex-Im...
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$ 5.3 bn pipeline’s benefits questioned

  • NEW YORK: Backers of the controversial $ 5.3 billion Keystone XL pipeline project weighed by the Obama administration could boost US jobs and energy independence, but critics say the uplift will be short-lived. Opponents of the project to build a 3,200-km conduit for oil from Canada’s tar...
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$ 7 billion east-west railway project on target

  • RIYADH: The $ 7 billion railway project linking Riyadh with Jeddah gathered steam yesterday with the state-owned Public Investment Fund signing a SR 270 ($ 72) million contract with Fluor, a US company, to provide management consultancy....
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$1 bn sukuk success highlights new trend

  • DUBAI: A $1 billion sukuk issue by Abu Dhabi Islamic Bank this month may start a trend that was probably not contemplated by the founders of modern Islamic finance: Islamic bonds may become a key tool for banks to meet tightening capital rules. The trend could add further momentum to a global...
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$1 trillion projects: KSA woos American investors

  • Saudi Arabia is offering $1 trillion worth of investment opportunities in vital sectors such as oil and gas, petrochemicals, transport, electricity and desalination to American businessmen and businesswomen at a major forum in Los Angeles....
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$1.35bn raised for Yemen in virtual donors conference hosted by Saudi Arabia, UN

  • NEW YORK: International donors on Tuesday pledged $1.35 billion of aid for Yemen, during a virtual humanitarian event organized by Saudi Arabia, in partnership with the United Nations Time is of the essence in the efforts to help the people of Yemen, the donors were reminded at the end of the...
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$10 billion Saudi funds boost for Jordan trade

  • RIYADH: A 40-member Saudi trade delegation has headed for Amman to participate in the Jordanian-Saudi Economic Forum, which concludes on Thursday.The delegation headed by Mohammed bin Abdulaziz Al-Oudeh, head of the Saudi-Jordanian Business Council (SJBC), will also take part in the eighth...
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