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Saudi arms industry may take years, chief says

Saudi Arabia is striving to develop a homegrown defense industry but cutting reliance on foreign equipment will take years, the head of a major military development firm said Thursday. The kingdom is the world's third-biggest defense spender, but only two percent of that outlay is local....

Egypt president says his economic reforms are no 'picnic'

The Egyptian president is defending the tough economic measures his government has undertaken, saying there was no other alternative in the face of deteriorating economy. Abdel-Fattah al-Sisi says that "structural reforms" are an imperative for Egypt and that the measures that have been...