World Bulletin / News Desk
Saudi Arabia has approved a 62 billion riyal ($16.5 billion) plan to modernise the transport system in its holy city of Mecca, including building a bus network and metro system, state news agency SPA said on Tuesday.
More than 6 million visitors from across the world visit Mecca every year for the Haj and Omra pilgrimages. The influx has strained the narrow roads and outdated transport system.
Four metro lines of a total length of 182 km (114 miles) will be built across the city, with 88 stations, SPA reported.
Construction for the transport project will be carried out over about 10 years, the report said, without giving details of when it would start or how companies would bid for contracts.
Last year the city's mayor told Reuters that within six years the government hoped to build new roads and foot bridges near the Grand Mosque, home to the cube-shaped Kaaba towards which Muslims turn in prayer.
Other long-term projects around the mosque include building hotels, malls and cafes. Developments in the suburbs include housing estates and a park for residents who have been made to relocate from the city centre.
Saudi Arabia is also spending billions on upgrading the transport system in the capital Riyadh and on a high-speed rail line connecting Mecca with the holy city of Medina.
McDonald's operates 438 restaurants in Russia and sees the country as one of its top seven major markets outside the United States and Canada
A tanker has docked at Es Sider and begun loading 600,000 barrels of oil, said Mohamed El Harari, spokesman for state-run National Oil Corp
The tanker loaded the Kurdish crude at the Turkish port of Ceyhan around Aug. 8, and made a partial delivery to Croatia via a ship-to-ship transfer last week.
Ethiopia, Africa's largest coffee grower, is set to continue talks with global buyers in hopes of branding and trademarking its world-renowned coffee and boosting national revenue.
Russia has banned the import of EU food products including fruit and vegetables from Poland, whose total food exports to Russia were worth around $1.5 bln last year.
Ukraine is prepared to compromise on the price until a lawsuit it has filed against Gazprom is resolved, minister Yuri Prodan said.
Finnish electricity specialist Hiekkala: 'Finland and Baltic countries have possibilities to replace the import from Russia by own capacity or Nordic import.'
The Bahraini-based Dar Group (Al-Shair and Partners) and its Egyptian subsidiary, Dar al-Handasah, were awarded the contract worth some $1.8 billion to draw up the master plan for Egypt's Suez Canal development project.
Citizens unable to pay their credit card bills can apply to Finance Ministry to have their debts expunged.
Greek Cypriot Farmers’ Union EKA general secretary Panicos Hambas said that the Russian sanctions on the Greek Cypriot export of citrus fruits could lead Turkish Cypriot farmers to export their own fruits to Russia via Turkey.
The closing off of a major export market threatens to hurt segments of the euro zone economy at a time when growth is pretty poor anyway.
Soaring Chinese demand for commodities like coal has underwritten Mongolia's rapid growth, with more than 90 percent of its exports sold to China.
Thailand avoided recession in the second quarter, the state planning agency said on Monday, but questions remain about the pace and depth of growth.
The new ban would not apply to foreign automakers' production inside Russia. Ford, Volkswagen , Ford Renault, Toyota and Hyundai Motor Co all have production facilities inside Russia.
Across Asia's low-cost garment manufacturing industry in particular, there have been more strikes as unions use a shortage of skilled workers to press for better pay and improved safety
More than eight out of ten French citizens do not trust the government of Prime Minister Valls to improve economic situation, poll shows