Economy

JEDDAH, 8 September 2005 — Viking Life-Saving Equipment UAE, a branch of the Danish maritime safety manufacturer, has clinched a contract to supply Vela International, Saudi Aramco’s operating sub

NEW YORK, 8 September 2005 — Crude oil futures tumbled to a three-week low in New York yesterday as the market reacted to a faster-than-expected recovery of oil operations in the Gulf of Mexico aft

JEDDAH, 8 September 2005 — The National Commercial Bank (NCB) signed a contract with Ladies Business Center at the Eastern Province Chamber of Commerce & Industry (EPCCI), to organize a training

RIYADH, 7 September 2005 — Prince Alwaleed ibn Talal, president of Kingdom 5KR-62 Ltd. and Kingdom 5KR-63 Ltd.

MADRID, 7 September 2005 — The board of Spain’s Endesa yesterday rejected as “insufficient” a 22.5-billion-euro ($28.4-billion) takeover bid by compatriot Grupo Gas Natural, the latest gambit

LONDON, 7 September 2005 — The dollar crept up against the euro here yesterday on a better-than-expected report on momentum in the US services sector.

JEDDAH,7 September 2005 — Over 1,000 points plunge in the Industrial index pulled the Saudi stock market down by over 300 points yesterday.

WASHINGTON, 7 September 2005 — The oil industry in the southern United States showed signs of life yesterday as authorities strained to get refineries, ports and shipping channels back up a week af

LONDON, 7 September 2005 — Oil prices recovered slightly in London yesterday after sharp falls in recent days in response to an agreement among industrial powers to release emergency reserves of cr

RIYADH,7 September 2005 — Saudi Telecom Co. (STC) began installing equipment in all customer service offices to enable customers to print their bills, Al-Yaum newspaper reported.