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  Jeddah / TNS A Saudi-British agreement on free trade will see the light if both countries’ governments agree on its terms. This was stated by Chris Innes-Hopkins, executive director of the Saudi British Joint Business Council, in an interview with Asharq Al-Awsat newspaper. Hopkins said the council was encouraging British investments in Saudi Arabia in particular, with the adoption of ...

  Reuters Libya’s Petroleum Facilities Guard (PFG) will start lifting a blockade on eastern oil terminals over the next three days, though a resumption of exports will depend on the state of the ports, a spokesman said. The PFG, which protects Libya’s oil terminals and fields, has blockaded the major eastern terminals of Ras Lanuf, Es Sider and Zueitina for ...

  Reuters The Saudi Industrial Property Authority (MODON) has inked more than 6,000 industrial, logistic and services contracts for investments that exceed SR600 billion ($160 billion) and provide job opportunities for more than 520,000 employees. Sami Al-Hussaini, official spokesperson of MODON, told Asharq Al-Awsat that factories in the industrial zones have registered a remarkable rise during 2015, in addition to ...

  Jeddah / TNS The Ministry of Environment, Water and Agriculture is planning to establish five agricultural companies in Sudan that specialize in fish farming, grain and fodder trade, animal farming and agricultural production. Sudan has allocated around one million acres for Saudi investment next to the Atbara Agricultural River, according to an executive agreement between the Saudi Ministry of Environment, ...

  Amman / TNS Amid a turbulent regional political and security environment, Jordan is wrestling with sluggish growth and high unemployment, according to a new World Bank report. Launched by the World Bank and the government in Amman, the report found that the economy slowed down for the first time since 2010, further widening Jordan’s output gap, with growth declining from ...

  REUTERS Algeria’s Tiguentourine gas plant is ready to come fully back online for the first time since a deadly militant attack in 2013, General Manager Kamel Aoues said on Saturday. “Full production is for the coming days, all tests have been passed successfully,” Aoues told Reuters during a press visit to the site. The plant, 1,600 km (995 miles) ...

  REUTERS Saudi Kayan Petrochemical Co. swung to a net profit in the second quarter, ending a run of five straight quarterly losses, benefiting from low feedstock costs. The company, an affiliate of Saudi Basic Industries Corp (SABIC), made a net profit of 91.02 million riyals ($24.27 million) in the three months to June 30, it said in a bourse ...

REUTERS Saudi Arabia Fertilizers Co (SAFCO) met analyst forecasts but extended its earnings slump, as its second-quarter net profit halved year on year as product prices remained low. SAFCO, a unit of Saudi Basic Industries Corp, made a net profit of 299 million riyals ($79.7 million) in the three months to June 30, compared with the 596 million riyals it ...

  AFP The world’s leading economies must do more to boost slowing global growth, the International Monetary Fund and Washington urged as G20 finance ministers gathered Saturday, with Britain’s vote to leave the European Union threatening more disruption. Central bank chiefs and finance ministers from the world’s top 20 economies met in the southwestern Chinese city of Chengdu, and US ...

  Bloomberg Terra Firma Capital Partners named Andrew Geczy, the former head of international and institutional banking at Australia & New Zealand Banking Group Ltd, as its new chief executive officer. Geczy will join the UK buyout firm full-time in September, the company said in a statement Thursday. He takes over the role at the UK buyout firm from Tim ...