Monday, July 4

Business

Allaibi from Saudi Arabia: The decision to cut production has contributed to restoring balance and confidence to the world oil markets

Business
BAGHDAD The Minister of Oil stressed Iraq's keenness to support the work of the Ministerial Committee to monitor production, which stems from the historic agreement between OPEC and a number of producers from outside. "The commitment of the producers to the historic decision to cut crude oil production has contributed significantly," the Ministry's statement quoted him as saying during his participation in the eighth meeting of the joint Ministerial Committee to monitor production in Jeddah, in Saudi Arabia, in the presence of the Secretary General of the Organization of Petroleum Exporting Countries, to save the world oil market from the deterioration of oil prices, as well as to achieve tangible results in restoring balance and confidence to global markets. "He added that Iraq is one of ...

Russia: Western strike on Syria did not exceed our red lines

Business
BAGHDAD Russian Foreign Minister Sergei Lavrov said on Friday that the US, French and British raids on Syria in response to a chemical attack on Duma "did not go beyond the red lines we have set.""We were told by the United States about areas that could be considered Russian red lines in Syria before the US bombing," Lavrov said, noting that the raids by the three countries did not exceed those lines.On Russia's delivery of S300 air defense systems to Syria, Lavrov said: "After the US bombing of Syria, there is no longer any obstacle to Russia's delivery of S-300 missiles to Syria."Moscow had signed a contract with Damascus to sell missiles equipped with radar devices designed to drop aircraft and missiles.Source: National Iraqi News Agency

Catholic cardinal meets Saudi King in historic visit to Riyadh

Business
Saudi Arabia's King Salman met French cardinal Jean-Louis Tauran in Riyadh on Wednesday during the first visit to the kingdom by such a senior Catholic authority, Saudi state news agency SPA reported.It followed a flurry of meetings between senior Saudi figures and representatives of other Christian traditions in recent months, raising hopes of more openness in the kingdom which hosts Islam's holiest sites but bans the practice of other faiths.The meeting between the king and Tauran, who heads the Vatican's Pontifical Council for Interreligious Dialogue, is the first between the current Saudi ruler and a Catholic official. Lebanon's Christian Maronite Patriarch visited Saudi Arabia in November. Patriarch Beshara al-Rai heads the Maronite church, which has a presence in Lebanon, Syria and C...

Khoury launches cooperation program between BMW, Lebanese universities

Business
Minister of Economy and Trade, Raed Khoury, launched a cooperation program between BMW International and Lebanese universities. This cooperation program aims at signing memorandums of understanding with Lebanese universities to train Lebanese students at BMW and select their distinguished members to join the BMW Group.Vice President of Logistics Planning at BMW, Dr. Dirk Dreher, delivered a welcoming speech in which he thanked Minister Khoury for sponsoring the event and praised BMW's interest in Lebanon and in enhancing the capabilities of its students."This program is one of the ways to boost Lebanese youths' potential and thus strengthen the Lebanese economy which is set to attract foreign investments," Khoury said. "One of the pillars of the economic plan that is being established is t...

Cultural Attache office in Britain organizes exhibition, forum of student volunteer initiatives to enhance image of Kingdom, its cultural activities

Business
London, The Cultural Attache Office of the Embassy of the Custodian of the Two Holy Mosques to the United Kingdom is organizing an exhibition and a forum of students' volunteer acts and initiatives to promote the image of the Kingdom of Saudi Arabia and its cultural and cognitive movement in the United Kingdom on May 5 in London.This was stated by the Cultural Attache in the United Kingdom Dr. Abdulaziz bin Ali Al-Maqushi.Source: Saudi Press Agency

Emir of Kuwait honors King Abdulaziz International Competition for Memorizing the Holy Quran

Business
Kuwait, Under the patronage of Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, the Emir of Kuwait, the Kuwaiti Ministry of Awqaf and Islamic Affairs honored King Abdulaziz International Competition for Memorizing the Holy Quran of the Kingdom of Saudi Arabia.The honoring came at the closing ceremony of Kuwait International Prize for Memorizing the Holy Quran.The award was received from the Emir of the State of Kuwait by the Kingdom's representative, Secretary General of King Abdulaziz International Competition for Memorizing the Holy Quran Dr. Mansour bin Mohammed Al-Samih.Source: Saudi Press Agency