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Tech icon defies China return order and sends wife instead

Posted: 02 Jan 2018 01:12 PM PST

Author: 
AFP
ID: 
1514927515930842600
Wed, 2018-01-03 03:00

BEIJING: A major Chinese tech entrepreneur has defied regulators' orders to return home, writing on Tuesday that his wife and brother would deal with the debt woes plaguing his LeEco conglomerate.
Jia Yueting, the 44-year-old head of a tech empire that has spanned electric cars and smartphones, posted a letter on social media to the Beijing branch of the China Securities Regulatory Commission, which last week ordered him to return to China before the end of 2017.

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Hong Kong stocks rise the most in three months to a 10-year high

Posted: 02 Jan 2018 01:12 PM PST

Author: 
Reuters
ID: 
1514927515900842300
Wed, 2018-01-03 03:00

HONG KONG: Hong Kong stocks rose the most in three months to a decade-high on Tuesday, led by mainland companies listed in the city, after Beijing kicked off H-share convertibility reform.
The market was also aided by China's stronger-than-expected factory activity, as well as strong property sales performance during the last week of 2017.

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Britain wants financial services included in EU trade deal

Posted: 02 Jan 2018 01:12 PM PST

Author: 
Reuters
ID: 
1514927515870842000
Wed, 2018-01-03 03:00

LONDON: Britain wants to include financial services in a trade deal with the European Union which covers a full sweep of economic areas, Brexit minister David Davis said on Tuesday.
Davis said that any deal that left out finance would be "cherry- picking," after the EU's Brexit negotiator Michel Barnier cast doubt on the inclusion of financial services in a free-trade deal.

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Cabinet briefed on global condemnation of Houthi attempts to target Riyadh

Posted: 02 Jan 2018 01:08 PM PST

Author: 
ARAB NEWS
ID: 
1514927224400810500
Wed, 2018-01-03 03:00

RIYADH: King Salman on Tuesday briefed the Cabinet on condemnation by the leaders of the US, Russia, the UK and France of Houthi attempts to target Riyadh with ballistic missiles.
Chairing the weekly Cabinet meeting at Al-Yamamah Palace in Riyadh, he said they also expressed appreciation for the Kingdom's efforts against terrorism and extremism, and its support for humanitarian and relief work.
The leaders stressed the need to alert the international community over Iran's destructive regional role, the king added.

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Female-only university starts hiring driving instructors

Posted: 02 Jan 2018 01:08 PM PST

Author: 
ASEEL BASHRAHEEL
ID: 
1514927224350810200
Wed, 2018-01-03 03:00

JEDDAH: Princess Nourah bint Abdulrahman University (PNU) in Riyadh on Monday started accepting driving instructor applications.
Females from all over the Kingdom come to the PNU, the largest university for women in the world, to pursue their studies.
As such, it has established a driving academy on its campus that will provide theoretical education and practical training.
"We've just begun to accept instructors' registrations through our website," the general supervisor for media management at the PNU, Amani Al-Hammad, told Arab News.

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When Saudis flocked to fill cars before deadline

Posted: 02 Jan 2018 01:07 PM PST

Author: 
Ruba Obaid
ID: 
1514927224300809600
Wed, 2018-01-03 03:00

JEDDAH: People rushed to fill cars and other containers before the decision to increase gasoline prices took effect at midnight on Jan. 1, resulting in overcrowding at gas stations.
Abdullah Al-Twairqi tweeted: "People around the world are celebrating New Year's Eve, while half of the population in Saudi Arabia celebrated in gas stations, waiting in long lines to fill up their cars."
Since the announcement of the increase, videos and memes of jokes about the matter have gone viral on social media.

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Launch of bird collision avoidance system will save lives, money

Posted: 02 Jan 2018 01:07 PM PST

Author: 
GHAZANFAR ALI KHAN
ID: 
1514927224330809900
Wed, 2018-01-03 03:00

RIYADH: A highly innovative system that can save thousands of lives and millions of dollars in losses inflicted by collisions between aircraft and birds was launched here on Tuesday.
The Bird Collision Avoidance System (BCAS), developed by the Bulgarian company Volacom, has been recognized by the General Authority of Civil Aviation, the state-owned aviation regulatory authority.

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Saudi Customs launches Approved Economic Operator program

Posted: 02 Jan 2018 01:07 PM PST

Author: 
ARAB NEWS
ID: 
1514927224240809300
Tue, 2018-01-02 22:07

JEDDAH: Saudi Customs has launched the Authorized Economic Operator (AEO) program to enhance partnership with the private sector and encourage teamwork to facilitate trade and customs procedures.

The AEO program will improve trade procedures for exporters, importers, customs trustees, carriers, shipping agents and other trade facilities in the logistics sector. The program will facilitate trade between the Kingdom and other countries. It also has procedural and priority advantages in all customs procedures.

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Saudi Food and Drug Authority: No VAT on human medicines, vitamins, and registered medical equipment

Posted: 02 Jan 2018 01:07 PM PST

Author: 
ARAB NEWS
ID: 
1514927224200809000
Tue, 2018-01-02 22:12

RIYADH: The Food and Drug Authority (FDA) said that the VAT will not be applied on human medicines, vitamins, and registered medical devices and products.

Abdul Rahman Al-Sultan, pharmacist and director of the SFDA's department of pharmaceutical information and awareness, said that the FDA is closely monitoring companies and pharmacies to make sure they do not implement the VAT on the human medicines, vitamins and registered medical devices and products.

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Trump moves toward sanctions over Iran protests

Posted: 02 Jan 2018 01:07 PM PST

Author: 
James Reinl
ID: 
1514926764080742900
Thu, 2018-01-04 02:56

NEW YORK: US president Donald Trump's administration is considering slapping sanctions on Iranian individuals who are behind a crackdown on protesters in the biggest wave of anti-government anger Iran has seen since widespread rallies in 2009.
In an interview with the state-backed broadcaster VOA (Voice of America), deputy assistant secretary of state for Iraq and Iran, Andrew Peek, said Washington was mulling targeted sanctions as well as working with international partners to censure Tehran.

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