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Attack on Egypt security convoy kills 11 in Sinai: security sources
An attack on a convoy killed 11 members of the Egyptian security forces in the Sinai Peninsula on Tuesday, security and medical sources said.
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Ma'adenSaudi Ma’aden, Alcoa start commercial ops at huge aluminium plant
Saudi Arabian Mining Co (Ma'aden) said on Monday its joint aluminium smelter with U.S.-based Alcoa has started commercial operations. The $10.8 billion aluminium plant at Ras al-Khair, on the Gulf coast of the kingdom, had experienced issues during the initial start-up phase last year when it had to shut one of its two smelting lines in October due to problems encountered during ramp-up.
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TASIMiddle East funds see value in popular Saudi stock market
“We believe that valuations in Saudi Arabia are beginning to look stretched at these levels,” said Vijay Harpalani, assistant fund manager at the UAE’s Al Mal Capital. “If we compare valuations, the market is trading at a premium to GCC, as well as emerging, markets.” However, managers think the Saudi market’s liquidity and diversity, as well as the macroeconomic stability provided by the country’s big current account and state budget surpluses, justify some degree of premium. They still see pockets of opportunity in some sectors.
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GCCGCC ‘resolves’ spat with Qatar, envoys to return – Gulf states ready to help counter IS jihadists
But Obama said he was developing a broad plan that would involve military, diplomatic and regional efforts to defeat the IS jihadists who have sown terror through crucifixions and gruesome beheadings. Obama said he would dispatch Kerry to the Middle East to discuss the plan with regional allies, namely in the Sunni-dominated Gulf monarchies. “We have all heard what President Obama said about a coalition and that he has asked John Kerry to travel to the region to set it up,” said Sheikh Sabah Khaled. “We are waiting for more details to understand what is needed… We are waiting for Kerry,” he added after chairing the GCC meeting.
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Solar PowerSolar Power Investors Start to See Some Light and Heat
Prices have stabilized as growth in demand for panels is finally outpacing capacity expansion. This benefits manufacturers. Most top-tier suppliers of solar modules reported profit margins that topped 15% in the first quarter, up from 10% toward the end of 2013, according to Matthew Feinstein of Lux Research.
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SyriaPhilippine peacekeepers rescued in Syria’s Golan Heights
Thirty-two Philippine peacekeepers trapped by rebels in the Syrian Golan Heights have been rescued, the UN says. A UN spokesperson said the "situation on the ground is calm but tense", without providing further details.
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MENAPentagon set to open second drone base in Niger as it expands operations in Africa
The Pentagon is preparing to open a drone base in one of the remotest places on Earth: an ancient caravan crossroads in the middle of the Sahara.
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HaiaBriton Man and Saudi Wife Scuffle with Religious Police
Eyewitnesses told Al-Hayat that the victim named Peter Haworth was in one of the malls with his wife when several members of the religious police started pursuing him till the cashier’s counter, which was manned by a Saudi woman.
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Saudi-FranceSaudi Crown Prince holds talks with Hollande
Saudi Arabia’s Crown Prince Salman bin Abdulaziz held talks in Paris on Monday with President Francois Hollande on bilateral cooperation in various areas, including combating the rise of terrorism in the Middle East region.
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IslamProposal to move Mohamed’s tomb in Saudi Arabia sparks debate
The controversial proposals are part of a consultation document by a leading Saudi academic which has been circulated among the supervisors of al-Masjid al-Nabawi mosque in Medina, where the remains of the Prophet are housed under the Green Dome, visited by millions of pilgrims and venerated as Islam’s second-holiest site.
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