U.S. Jobless Claims Drop

Washington, Rabi’I 6, 1437, Dec 17, 2015, SPA — The number of people filing initial applications for U.S. state unemployment benefits fell last week from a five-month high, the government reported Thursday, suggesting sustained labor-market improvement that could lead to further Federal Reserve (Fed) interest-rate increases next year.
The Labor Department said jobless claims fell 11,000 last week to 271,000. It was the 41st consecutive week that claims remained below 300,000, a level associated with healthy labor-market conditions. It is the longest such stretch since the early 1970s.
The four-week moving average of jobless claims—a better gauge of trends because it smoothes weekly volatility—was virtually unchanged, also at 271,000. The four-week average fell slightly between November and December, suggesting another strong month of job gains after payrolls increased by 211,000 in November, and unemployment remained at a seven-year low of 5 percent.
As the labor market approaches full employment, jobless claims likely have little room for further declines.
The Fed on Wednesday raised its key interest rate by a quarter-point to between 0.25 and 0.50 percent, the first increase in almost a decade. The central bank said in its policy statement that there had been “further improvement” in the labor market.

18:09 LOCAL TIME 15:09 GMT

Harbour City Named Google’s Top Trending Destination in Hong Kong

HONG KONG, Dec. 17, 2015 / PRNewswire — Harbour City, the largest shopping mall in Hong Kong, was named by Google’s Year in Search as number one in the Top Trending Mobile Searches for Local Destinations of 2015. Located in Tsim Sha Tsui, Hong Kong’s core tourist district, the mall was also ranked sixth in […]

TP-LINK Makes a Major Leap in Mobile Device Market with New Visions

SHENZHEN, China, Dec. 17, 2015 /PRNewswire/ — TP-LINK, the largest global provider of Wi-Fi networking products has recently announced a new product line of smartphone: Neffos, making an entry to the mobile device market to expand the scope of business. Released Globally in February, Neffos smartphone’s key concept is to offer a user-friendly design that’s […]

Palestine’s ambassador to Egypt: our presence in Islamic military alliance is safety net for Palestinians

Cairo, Rabi’I 6, 1437, Dec 17, 2015, SPA — Ambassador of the State of Palestine to the Arab Republic of Egypt and its permanent representative to the Arab League Jamal Al-Shobki, described the presence of his country in the Islamic military alliance consisting of 34 countries against terrorism, as a symbolic meaning to Palestine.In a […]

Petroleum Ministry thwarts smuggling 9 million liters of diesel

Riyadh, Rabi’I 06, 1437, December 17, 2015, SPA — The Ministry of Petroleum and Mineral Resources pointed out that its follow-up with a number of security and competent agencies has succeeded in thwarting one of the largest diesel smuggling operation by monitoring the movement of nearly 450 tank containers loaded with the amount of nine million liters of diesel that has been prepared in a number of locations in Riyadh and the Eastern Region, and headed towards King Abdulaziz Port in Dammam, where it was fallen in the grip of customs at the port.
The Ministry said in a statement today that this operation is the largest attempt to smuggle diesel since the start of the application of checking procedures using advanced fuel discrimination marker technique, where in that operation, it was resorted to hide the trace of diesel by mixing it with some chemicals, but the higher cooperation between the Ministry of Petroleum and Mineral Resources, Saudi Customs and the vigilance of customs inspectors prevented the success of the smuggling operation.
The Ministry of Petroleum and Mineral Resources pointed out that that to limit those attempts, the Ministry coordinated with Saudi Customs and Saudi Aramco by equipping a number of specialized laboratories to use the advanced fuel discrimination marker technique, that is added to the chemical composition of a number of fuels, to enable the customs at border ports to detect any attempt to smuggle fuel outside the Kingdom.
It is worth mentioning that the big difference between fuel prices in the Kingdom and prices in neighboring countries is the first motive in the continuation of such attempts from time to time.
15:57 LOCAL TIME 12:57 GMT

Finance Minister signs agreement to avoid double taxation with Gabon

Riyadh, Rabi’I 06, 1437, December 17, 2015, SPA — Minister of Finance Dr. Ibrahim bin Abdulaziz Al-Assaf met here today with Minister of Economy, Investment Development and Forecasts of the Republic of Gabon Regis Ayongo.
During the meeting, they reviewed bilateral relations between the two countries, especially in the economic and investment fields, and ways of developing them.
The two ministers signed an agreement between the Governments of the two countries on avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income.
14:10 LOCAL TIME 11:10 GMT