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Indian Prime Minister Narendra Modi, left, shakes hands with Russian President Vladimir Putin at a plenary session of Eastern Economic Forum at far-eastern Russian port of Vladivostok on Thursday. — AFP
Putin woos Asian investors in Russia's Far East
VLADIVOSTOK, Russia — President Vladimir Putin sought to lure Asian investment to Russia's Far East on Thursday as the launch was announced of a huge Arctic gas project aimed at Asian markets.Hosting leaders including Japanese Prime Minister Shinzo Abe and Indian Prime Minister Narendra Modi in the Pacific port city of Vladivostok, Putin lauded Russia's Far East as a destination for investment.The region is full of "hardworking, energetic people", "industries of the future" and "the richest reserves of natural resources", Putin said."Take advantage of these opportunities," he told a plenary session of the Eastern Economic Forum.Moscow has hosted the forum every year since 2015 as it looks to bolster ties with Asia amid tensions with the...
September 05, 2019

Putin woos Asian investors in Russia's Far East

Employees of German car manufacturer Porsche work on a sports car at the Porsche factory in Stuttgart-Zuffenhausen, Germany, in this Jan. 26, 2018 file photo. — Reuters
Recession risks rise for Germany as industrial orders plunge
BERLIN — Weaker demand from abroad drove a bigger-than-expected drop in German industrial orders in July, suggesting that struggling manufacturers could tip Europe's biggest economy into a recession in the third quarter.Germany's export-reliant economy is suffering from slower global growth and business uncertainty caused by US President Donald Trump's 'America First' trade policies and Britain's planned, but delayed, exit from the European Union.Contracts for 'Made in Germany' goods fell 2.7 percent from the previous month in July, data showed on Thursday, driven by a big drop in bookings from non-euro zone countries, the economy ministry said. That undershot a Reuters consensus forecast for a 1.5 percent drop."The misery in manufacturing continues....
September 05, 2019

Recession risks rise for Germany as industrial orders plunge

US trade deficit shrinks; shortfall with China still large
WASHINGTON — The US trade deficit narrowed slightly in July, but the gap with China, a focus of the Trump administration's "America First" agenda, surged to a six-month high.The report from the Commerce Department on Wednesday came against the backdrop of an escalation in the trade war between the United States and China. The two economic giants slapped fresh tariffs on each other on Sunday, fanning fears of a global recession. President Donald Trump on Tuesday warned he would be "tougher" on Beijing in a second term if trade talks dragged on."Investors and the markets are unlikely to see any reprieve in the trade sanctions and tariffs and the Trump administration may even redouble their efforts to tame the massive red ink," said Chris Rupkey, chief...
September 04, 2019

US trade deficit shrinks; shortfall with China still large

PHOTO-2019-09-04-09-03-57
SAMI on track toward Saudi Vision 2030 goals
RIYADH — Dr. Andreas Schwer, CEO of Saudi Arabian Military Industries (SAMI), has announced the completion of the company’s executive management team. The team includes a number of distinguished national leaders and international experts specialized in the military industries, as well as the financial, administrative, industrial, and strategic sectors.The members of the executive management team have been attracted to support the company’s journey and the development of a strong local base for military manufacturing and defense in the Kingdom of Saudi Arabia. Each will play a key role in steering SAMI’s efforts to embrace international trends and developments, transferring state-of-the-art technology to the Kingdom and setting-up local production to fulfill domestic and export...
September 04, 2019

SAMI on track toward Saudi Vision 2030 goals

First Private Label and Licensing Middle East to take place at Dubai World Trade Centre
First Private Label and Licensing Middle East platform
DUBAI — The inaugural Private Label and Licensing Middle East exhibition, taking place at Dubai World Trade Centre (DWTC) on Oct. 29-31, will provide a strategic incubation platform for heavyweight local, regional and international businesses, start-ups and entrepreneurs to tap into worldwide business opportunities across the rapidly accelerating private labeling, brand licensing and contract manufacturing sectors.According to the latest Nielsen Total Consumer Report, sales of premium private - or store - label products are growing at 6.3 per cent year-on-year, resulting in private label brands now outpacing traditional multinational brands and “posting dollar growth more than three times the rate of branded products”.Private Label and Licensing Middle East 2019, the MENA region’s...
September 04, 2019

First Private Label and Licensing Middle East platform

4th Future Manufacturing & Trade Summit set in Dubai
DUBAI — The fourth edition of the Future Manufacturing & Trade Summit, hosted under the patronage of Suhail Al Mazrouei, UAE Minister of Energy & Industry, by Dubai Exports, the export promotion agency of Dubai Economy, in collaboration with Expo Trade Middle East, will be held on Sept. 10-11, 2019 at the InterContinental Festival City, Dubai. The summit is aimed to support the development of the industrial sector in the UAE and promote exports of local companies because of their role in enabling growth in Dubai and the UAE.The two-day event will host over 1,000 senior professionals from operations, supply chain and logistics, IT, and maintenance within the manufacturing industry. Manufacturing contributes 9.2% of Dubai’s GDP and in the first quarter of 2019, there was a 30% increase...
September 04, 2019

4th Future Manufacturing & Trade Summit set in Dubai

18 million road trips recorded in August
RIYADH — Saudi Transportation Ministry registered more than 18 million vehicle activities on the main cities' entrances through the traffic monitoring units last month, with the following details:• Jeddah City entrances registered as the highest road traffic density by 5.2 million vehicles (167,000 daily) with an average speed of 103 kph.• Makkah City entrances registered 5 million vehicles (161,000 daily) with an average speed of 118 kph.• Riyadh City entrances registered 2.7 million vehicles (88,000 daily) with an average speed of 104 kph.• Dammam City entrances registered 1.5 million vehicles (48,000 daily) with an average speed of 101 kph.• Al-Madinah City entrances registered 1.3 million vehicles (42,000 daily) with an average speed of 80 kph.•...
September 04, 2019

18 million road trips recorded in August

Students beware: Cybercriminals use textbooks and essays as a disguise for malware
JEDDAH — Kaspersky experts have uncovered 53,531 malicious or potentially unwanted files disguised as ready-to-use essays and textbooks for schools and universities. From August 2018 to July 2019 they were used in 356,662 attacks on 104,819 users – a 21% decrease, compared to the figures from the previous year. These are among the main findings of Kaspersky’s ‘Back to School report’.While some might find the cost of student books to be quite expensive, they are an inevitable part of any educational program. As a result, many textbooks can be found online, and students might avoid the high costs by downloading them from pirate websites or file hosting forums, along with student essays. Threat actors, however, are willing to create mischief and use students’ hunger for knowledge...
September 04, 2019

Students beware: Cybercriminals use textbooks and essays as a disguise for malware

Dubai remains the 4th world’s most visited city
DUBAI – Dubai has retained its position as the fourth most visited city in the world for the fifth year in a row, according to Mastercard’s Global Destination Cities Index (GDCI) 2019. The city welcomed 15.93 million international overnight visitors last year and the city is expected to continue building on its success in 2019.The UAE’s capital, Abu Dhabi, was ranked as the fastest growing city in the Middle East and Africa, with a Compound Annual Growth Rate (CAGR) of 16.7% between 2009 and 2018 in overnight arrivals.“Once again, Dubai has earned and maintained its position as the fourth most visited city in the world in Mastercard’s Global Destinations Cities Index. As the most attractive destination in the Middle East and Africa region for international visitors, Dubai...
September 04, 2019

Dubai remains the 4th world’s most visited city

Ahmed Ghouth
Alkhabeer Capital raises capital 10% to SR894.5m
JEDDAH — Alkhabeer Capital, a prominent asset management company specializing in alternative investments, announced that it has increased its paid-up capital by 81.3 million, a 10 percent increase to SR894.5 million, following the approval of its shareholders at the company’s 7th Annual General Meeting (AGM).This increase will add 8.1 million shares, bringing the total number of shares to 89.4 million. The new shares will be distributed as stock dividends to current shareholders of the company.Commenting on this increase, the Chairman of Alkhabeer Capital Musaad Mohammad Saad Aldrees said: “The decision to increase paid-up capital underscores the trust and confidence shareholders have in Alkhabeer’s senior management and our growth strategy. Moreover, this increase is in line with...
September 04, 2019

Alkhabeer Capital raises capital 10% to SR894.5m

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