US President peddles economic rise; Saudi Arabia shares increase

US President peddles economic rise; Saudi Arabia shares increasePresident Barack Obama spoke last Friday after his trip to the West requesting the Congress to progress regarding his plan on raising the exports for the country. This was due to the economic experienced by US the past week.

He said, “The Dreamliner is the plane of the future.  And by building it here, Boeing is taking advantage of a huge opportunity that exists right now to bring more jobs and manufacturing back to the United States of America,” after speaking with the employees of Boeing airplane assembly plant near the northwestern city of Seattle, Washington.

He stated on a report passed in Congress that the economy has been increasing for more than two years, but not as smoothly due to recession.

“The tide is beginning to turn our way. Over the last 23 months, businesses have created 3.7 million new jobs.  And American manufacturers are hiring for the first time since 1990.  And the American auto industry is back.  And our economy is getting stronger,” he added.

Meanwhile, after signs of good market and industry in the United States due to assistance from Greece’s fuel demand, Saudi Arabia shares from the said gain.

Turki Fadaak, head of research at Riyadh-based Albilad Investment Co. said, “The market is gaining momentum on positive data from global markets and after the Dow Jones rose to its highest level in more than three years. Investors are also optimistic the Greek debt issue will be resolved this Monday.”

The Commerce Department accounted yesterday that U.S. builders broke ground on more homes than estimate in January and the Federal Reserve Bank of Philadelphia’s general economic index rose this month.

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