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March 2019

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Markets

2,628.74 -0.57%
Volume
95,563,618
Turnover
-0.57%
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2,267
8
Up
4
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23
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Traded stocks 35
5,127.45 0.57%
Volume
53,708,461
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0.57%
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1,691
9
Up
8
Flat
12
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Misk
4.3
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13.69
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0.39
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0.35
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0.68
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0.16
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0.19
Karbala
0.85
Tomoor
1.05
Babel
64.5
Baghdad
0.24
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0.39
Aoset
0.11
Baghdad
0.24
Hilal
0.39
Tomoor
1.05

Saudi Gazette


21/03/2019

Levi's raises $623 mn ahead of NYSE debut Thursday

NEW YORK — US jeans company Levi Strauss & Co. announced Wednesday strong pricing ahead of its Wall Street return, enabling it to raise a better-than-expected $623 million. The iconic brand, which is set to begin trading Thursday on the New York Stock Exchange, said it would initially price at $17 a share, above the $14 to $16 per share range it had previously targeted. Strong demand for the shares means the IPO will raise $623 million. First founded in 1853 in San Francisco as a wholesale dry goods business, Levi's invented the blue jean 20 years later, a product...
21/03/2019

Sri Lanka says Oman Oil still keen on refinery project

COLOMBO — The Sri Lankan government said on Thursday that Oman's government-controlled Oman Oil Co has made clear that it is interested in taking a 30 percent stake in a new oil refinery project on Sri Lanka's south coast. The Oman oil ministry on Wednesday denied that it had agreed to acquire the stake, saying it knew nothing about the investment that was announced by Sri Lanka's government the previous day. Sri Lankan officials had said that a Singapore entity controlled by the Indian company, Accord Group, would take a 70 percent stake. Sri Lankan Prime Minister Ranil Wickremesinghe told...
21/03/2019

Closing time? Japan convenience stores pressed to end 24-7 model amid labour crunch

TOKYO — Japan's 24-hour convenience stores are struggling to stay open around the clock as an industry that has continually expanded now finds itself at the sharp end of a labor shortage. Franchise owners, some of whom were forced to work amid massive snowstorms or in the wake of a family death, have launched a campaign to persuade industry leader 7-Eleven to allow stores to close earlier. Although the debate has focused on their plight, it has also raised doubts over the future of a $100 billion industry that faces an ageing population, slow economic growth and new competitors such...

21/03/2019

From California to Oslo: Foreign subsidies fuel Norway's e-car boom, for now

OSLO — On the outskirts of Oslo, a row of Fiat 500es imported from California stand parked in the snow outside the Buddy Electric dealership, part of a global flow of pre-owned electric cars to Norway powered by green subsidies elsewhere in the world. The company's production manager, Tor Einar Hanssen, said it had sold about 110 in the past year and a half, making a small profit on the cars, most of which had been used for a few years by US leasing companies. "They're surprisingly good in cold weather," he said. A gleaming blue Fiat 500e is on...
21/03/2019

Reliance sends fuel from India, Europe to Venezuela to sidestep US sanctions

NEW DELHI/MEXICO CITY — India's Reliance Industries is selling fuels to Venezuela from India and Europe to sidestep sanctions that bar US-based companies from dealing with state-run PDVSA, according to trading sources and Refinitiv Eikon data. Reliance had been supplying alkylate, diluent naphtha and other fuel to Venezuela through its US-based subsidiary before Washington in late January imposed sanctions aimed at curbing the OPEC member's oil exports and ousting Socialist President Nicolas Maduro. At least three vessels chartered by the Indian conglomerate supplied refined products to Venezuela in recent weeks, and another vessel carrying gasoil is expected to set sail...
21/03/2019

Aramco enhances investment opportunities for Kingdom’s economic development

DHAHRAN — Through its participation in the two-day Al-Hasa Investment Forum organized by Al-Hasa Chamber of Commerce and Industry, Saudi Aramco aims to pave the way for increased domestic and international investment, promote the national economic diversification programs and create more job opportunities in alignment with Saudi Vision 2030.Al-Hasa Investment Forum kicked off Thursday under the patronage of Prince Saud Bin Naif, Emir of Eastern Province; with the attendance of Prince Badr Bin Muhammad Bin Jalawi, governor of Al-Hasa and head of the higher committee organizing the forum; Minister of Energy and Mineral Resources Khalid Al-Falih; and Amin H. Nasser,...

21/03/2019

Islamphobia

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21/03/2019

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20/03/2019

Kazakhstan renames capital as new president takes office

ALMATY, Kazakhstan — Kazakhstan’s new president was sworn in on Wednesday following the shock resignation of the country’s long-time ruler and in his first official act renamed the capital after his predecessor.Kassym-Jomart Tokayev took office in a pomp-filled ceremony less than 24 hours after Nursultan Nazarbayev, the only leader an independent Kazakhstan had ever known, suddenly announced he was stepping down.Tokayev immediately proposed changing the name of the Central Asian nation’s capital from Astana to Nursultan, or “Sultan of Light” in Kazakh, and parliament approved the change within hours.The senate also appointed Nazarbayev’s eldest daughter Dariga Nazarbayeva as speaker, setting...

20/03/2019

Afghanistan presidential election delayed to Sept 28

KABUL — War-torn Afghanistan has delayed its presidential election until Sept. 28, officials announced on Wednesday, the second time the ballot has been put back and five months later than it was originally scheduled to be held.The announcement by the Independent Election Commission (IEC) comes after speculation that the vote would be postponed to create space for US-led efforts to end the 17-year war with the Taliban.The presidential ballot was originally scheduled for April 20, then delayed to July 20. Many observers had considered both dates unrealistic given the Independent Election Commission (IEC) is still finalizing results of October’s shambolic...
20/03/2019

Indian court acquits four men in 2007 India-Pakistan train blast case

NEW DELHI — An Indian court on Wednesday acquitted four Hindu men accused of bombing a train between India and Pakistan in 2007 that killed 68 people, mostly Pakistanis, citing a lack of evidence, defense lawyers said.Pakistan’s acting foreign secretary described the ruling as a “travesty of justice”.The ruling comes weeks after a sharp escalation in tensions between India and Pakistan after a suicide car bomb in Kashmir killed 40 Indian paramilitary police. Pakistan-based militant group Jaish-e-Mohammed claimed responsibility for the attack.The court in the northern state of Himachal Pradesh gave its verdict after dismissing a petition filed last week...
20/03/2019

As the web turns 30, is it an ‘out-of-control monster’?

Meyrin, Switzerland — Thirty years ago this month, a young British software engineer working at a lab near Geneva invented a system for scientists to share information that would ultimately change humanity.But three decades after he invented the World Wide Web, Tim Berners-Lee has warned that his creation has been “hijacked by crooks” that may spell its destruction.Berner-Lee’s old office at Europe’s physics lab CERN now looks no different than the others lining the long, nondescript corridor within the expansive compound.The only indication that history was made here is a small commemorative plaque and a page from an old CERN...