Regional News

  Riyadh / AFP Their heads bowed, young Saudi men concentrate on exam papers in a workshop filled with industrial machines that will help them earn a living. The students at the Higher Institute for Plastics Fabrication (HIPF) learn to manufacture plastic bags, pipes, bottles and other products, skills they immediately put to work in what the government says is a …

  Agencies Oil prices recovered on Tuesday but stayed near two-month lows as increased US drilling, a strong dollar and hints of higher production by Iran and Libya brought worries about a global glut back into focus. The commodity has retreated since last month, when prices rose above $52 a barrel, as supply disruptions in Nigeria and Canada eased and …

  Dubai / Emirates Business The banking sector in the Middle East has grown tremendously over the past few years. With a great deal of emphasis laid on technology adoption in the banking sector, the ever-changing banking landscape has seen a consistent growth in demand for innovative technology and services. According to multiple reports, mobile payments and digital banking strategy …

  Manama / TNS Bahrain is among the most connected nations in the world, ranking among the top three in the GCC and 30 worldwide for its ability to use information and communication technology (ICT) to boost competitiveness. It was placed third among Arab nations and 28th in the world in the Networked Readiness Index (NRI) of the Global Information and …

  WAM Kuwait’s exports totaled about KD 19 million in April, with 75 percent (KD 14 million) going to Arab states and 25 percent for the rest of the world, according to a report by Kuwait’s Ministry of Commerce and Industry. According to Kuwait News Agency, (KUNA), Iraq had the biggest share of Kuwaiti Arab exports with 81 percent (KD …

  Jeddah / TNS The Eid Al-Fitr holiday is not only a great occasion for refreshing one’s faith and social relations, but is also a good length of time for Saudis and expatriates alike to take an extended holiday in which they can spend quality time with family and friends. At this time of year, a major attraction in the capital …

  BLOOMBERG Oil markets will remain stable this year even as Iran plans to keep boosting crude exports to regain the market share it lost due to sanctions, according to a senior official at state-run National Iranian Oil Co. Iran exports about 2 million barrels of its daily output of 3.8 million, said Mohsen Ghamsari, NIOC’s director of international affairs. …

  Cairo / Reuters Egypt’s urban consumer inflation jumped for a third straight month in June as consumer demand spiked during Ramadan, official data showed on Sunday. Food demand normally surges during the Muslim holy month because of heavy consumption following the dawn-to-dusk fasting period. Ramadan this year began on June 6 and ended on July 5. Urban consumer inflation …

  Riyadh / TNS Saudi markets imported pearls and precious stones worth SR21.8 billion in 2015, compared to SR19.2 billion in 2014, or an increase of 13 percent, local media said. Imports of pearls and precious stones represented 3.3 percent of the Kingdom’s total imports, which stood at SR655 billion in 2015, compared to 2.9 percent in 2014, with its total …

  Jeddah / TNS Car rental offices witnessed a surge in rentals during the Eid by up to 80 percent, compared to other vacation days, which contributed to the rise in rental prices of up to 60 percent. Workers in the sector in Jeddah and Makkah said some offices began to provide more vehicles, either by repairing those vehicles with problems, …