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Stock News: Saudi Mobily Shares Plunge For 3rd Day Since Earnings Shock
On Monday, Mobily cut its profits for 2013 and the first half of 2014 by a combined SAR1.43 billion ($381.2 million), citing accounting errors, and also reported a 71 per cent drop in third-quarter profit. Mobily’s actions prompted the bourse regulator to launch a probe.
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Why the Supreme Court’s ‘born in Jerusalem’ case is such a tinderbox
Congress doesn’t agree with [the White House's] posture, and in 2002 it passed a law that, among other things, allows Jerusalem-born applicants for U.S. passports to record their place of birth as “Israel” if they so request. President Bush signed that law but attached a signing statement declining to enforce the passport provision because it “impermissibly interferes with the President’s authority to conduct the Nation’s foreign affairs.” Barack Obama similarly contends that the provision is unconstitutional. The "Zivotofsky vs. Kerry" case invokes this 2002 passport law and has returned a thorny debate over executive power and foreign policy to the highest court in the land.
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Building bridges between Middle East, Silicon Valley
The program, run by the Institute for International Education's Center for Women's Leadership Initiatives in San Francisco, pairs each participant with two successful American women — a professional mentor and a cultural mentor — for five weeks of exchange and networking in the San Francisco Bay Area and Washington, DC. Those exchanges are a key component of a program that aims to empower young women in a region where they still face many obstacles.
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Information Minister Khoja relieved
Culture and Information Minister Abdulaziz bin Mohiuddin Khoja was relieved from his post on Wednesday upon his request, the Saudi Press Agency said. Haj Minister Bandar Hajjar was assigned to take Khoja's job in a concurrent capacity, SPA said, quoting a Royal Decree.
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France, Lebanon sign Saudi-funded arms deal
This deal will help to ensure the army’s mission to defend its territory and to fight terrorism at a time when Lebanon is threatened,” Fabius said.
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Rivals Tehran, Riyadh pledge billions to Lebanon’s army
Late last year, Riyadh agreed to give $3 billion worth of French-made weapons to Lebanon’s military at a still-unspecified date. It also granted $1 billion in emergency aid to the country’s military and intelligence agencies in August after militants linked to extremists in Syria briefly captured the Lebanese border town of Arsal. Combined, the pledges amount to more than double the military’s estimated annual budget. During a visit to Beirut in September, the secretary of Iran’s Supreme National Security Council, Ali Shamkhani, responded with an arms offer from Tehran. According to Lebanese media reports, that consists primarily of antitank weapons, artillery and heavy machine guns.
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Top US commander of Afghan war reassessing US withdrawal timeline
In a phone interview from Kabul, Campbell said he was "beginning now to take a hard look" at what effect delays in concluding a bilateral security agreement between the United States and Afghanistan and the months of uncertainty over the country's presidential elections have had on the preparedness of the Afghan military. Afghan forces have been taking heavy casualties in recent months while they battle the resurgent Taliban.
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The Middle East ‘mastermind’ who worries Erdogan
Erdogan spoke openly of this “mastermind” for the fist time, but this conspiratorial view of the world has been promoted by the pro-Erdogan media over the past three years — ever since Turkish foreign policy began to face unexpected troubles.
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Why Foreign investment is elusive for MENA startups
But why can’t they raise funds while remaining in the Middle East? “In the hierarchy of Silicon Valley venture firms,” says Nasr, “the focus is generally on the Bay Area first, California second, and the rest of the US after that. Most US VCs don’t have a presence or much awareness outside North America. When you’re investing, one of the most important things is the market; so other than very big markets such as China, India or Brazil, there is not much interest or appetite.”
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Three new MERS deaths reported in Saudi Arabia
Three people in Saudi Arabia have died from Middle East Respiratory Syndrome (MERS) coronavirus and three others have been infected, Makkah daily reported on Sunday.
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