Major oil producers pledged to cut output by almost 1.8 million bpd during the first half of the year
The project is expected to cost around $1.95bn
Profit was boosted by a rise in sales volumes and aluminium and gold prices
The company, owned by Prince Alwaleed posted net profit of SAR129.1m in the three months ending March 31
The Saudi King reportedly issued an order allowing women to benefit from certain government services without the consent of a male guardian
The United States has been the main supplier for most Saudi military needs
Saudi Aramco’s initial public offering is expected to be the largest in history
The government slashed the allowances last September, but announced last month that it would restore them
QNB plans to build its investment banking business through its branch network in Saudi Arabia
Alawwal Bank and Saudi British Bank agreed last week to start talks on a possible merger
Saudi’s ambassador to Yemen says kingdom and its allies are seeking a political solution to Yemen’s crisis
His funeral prayers will be held on Thursday at the holy grand mosque in Makkah
The company could be valued at $2bn to $3bn in an initial public offering
The sale process could be completed by the third quarter
The kingdom has a waiting list for 1.5 million housing units over the next five years
Aramco has a stake of 65 per cent in Sadara
Saudi’s deputy crown prince has ruled out any dialogue with Iran
Prince Mohammed first described his reform plans to the public almost exactly a year ago
Al-Benyan was speaking a day after the petrochemical maker reported an 80 per cent jump in net profit
Aramco’s total loading and export capacity will rise to 15 million barrels per day
Ahmed Al-Khateeb was quoted as confirming the plans last week
A big German business delegation is travelling with Merkel on her Gulf visit
The contract runs for up to 20 years
The suspects included foreign and Saudi citizens, and were detained in Jeddah
The gym brand is currently owned through a 60/40 per cent split by two funds
The brand currently has nine outlets in the UAE
The Ministry of Labour and Social Development announced last Thursday that all jobs at car rental firms would be restricted to Saudi nationals
The new currency to mark the era of King Salman was first made available at the end of December
The US President said Washington was losing a “tremendous amount of money” defending the kingdom
Cinemas are banned in the kingdom, but concerts have started to be held this year