Home next GCC next Saudi Arabia

Saudi Arabia

Saudi may issue government bonds this year -IMF official

Bond issues are being considered after global oil prices plunged last year.

Five Saudi stocks to be closed to foreign investors -bourse

The Capital Markets Authority did not specify the reason for these stocks to be off-limits to foreign investors.

Saudi lost $49bn of foreign reserves in 4 months due to low oil prices

The kingdom’s foreign reserves fell to $683 billion in April, from $732 billion at the end of 2014, a new report shows.

IMF lifts outlook for Saudi GDP, sees bigger budget gap this year

Economic growth is expected to slow in 2016 as lower oil revenues hit state spending, the IMF said.

Naimi says Saudi oil strategy working, sees stronger demand

The comment indicates Saudi Arabia will likely propose not to change output policy at producer group OPEC’s meeting on Friday.

Revealed: Biggest banks in Saudi Arabia

The top 10 biggest lenders in the Kingdom by 2014 total assets, taken from Gulf Business’ Top 50 GCC Banks list.

Saudi bourse opening could fuel international partnerships – JP Morgan

The market opening could lead to a flurry of foreign funds, paving way for more partnerships among local and international firms.

Saudi’s Kingdom Holding sells 50% stake in Mauritius resort to JV partner

Kingdom Holding, owned by Prince Alwaleed Bin Talal, sold its stake in Four Seasons Resort Mauritius to Sun Resorts.

ISIL not significant threat in Saudi Arabia – US military

Friday’s blast killed four people and was the second attack claimed by the Sunni militant group in a week in Saudi Arabia.

ISIL’s Saudi branch calls for clearing Arabian Peninsula of Shi’ites

ISIL claimed two suicide bombings carried out on May 22 and May 29 on Shi’ite mosques in eastern Saudi Arabia.

Dr. Nasser Saidi: The long march forward for Saudi’s market

Opening Saudi Arabia’s Tadawul should just be the beginning, writes the founder and president of Nasser Saidi & Associates.

Saudi central bank net foreign assets drop 1.7% on month in April

Assets dropped 6.8 per cent from a year earlier to their lowest level since May 2013, central bank data showed.

Saudi Arabia rewrites its oil game with refining might

The Kingdom now has stakes in more than five million barrels per day of refining capacity, at home and abroad.

Saudi Aramco may raise rigs in 2016 if oil prices rise -sources

The company has 212 rigs of both types in operation and that could rise to between 220 and 250 if conditions permit, sources familiar with the plans said.

Saudi Arabia’s Kingdom Holding has no plans to invest in Snapchat -source

Kingdom took part in talks over a potential investment in Snapchat but decided not to invest in the application, a source said.

Saudi designates two senior Hezbollah officials as terrorists

Khalil Youssef Harb and Mohammed Qabalan have been banned from any dealings with Saudis.

Chevron says output from Saudi-Kuwait joint Wafra oilfield to remain shut

The oilfield will not be reopened until difficulties to operate there are resolved, the US firm said.

Air strikes kill at least 80 in deadliest bombings of Yemen war

Arab warplanes and ships also hammered Yemen’s largest military port in the Red Sea city of Hodeida at dawn on Wednesday.

Saudi’s Almarai approves $5.6bn capex plan for 2016-20

The investment will cover expansion in the areas of farming, manufacturing, distribution and logistics.

Saudi regulator to raise IPO allocations to institutional investors

The Kingdom’s stock market is dominated by retail investors in terms of daily trading volumes.

Tens of thousands turn up for funeral of Saudi suicide attack victims

A suicide bombing in Qatif last week, claimed by ISIL, caused the death of 21 Shi’ite Muslims.

Saudi Gulf Airlines plans to begin flights at start of November

The airline plans to fly from Dammam to three destinations, initially with a fleet of four Airbus A320s, an official said.

Saudi’s Emaar Economic City says expects tenant inflow to accelerate

The developer expects to attract about 50 new companies to establish operations this year, versus 35 last year, and thinks it will sell around 2,500 residential units in 2015.

Saudi king vows to punish those behind suicide attack

The monarch promised to punish all those who are linked to the attack, intensifying its crackdown on terrorism.

US approves sale of 10 MH-60 Seahawk helicopters to Saudi Arabia

The proposed sale would improve Saudi Arabia’s capability to meet current and future threats from enemy weapons systems.

Saudi Interior Ministry says mosque bomber belonged to ISIL

The attack was one of the deadliest assaults in recent years in the Kingdom, where sectarian tensions have been aggravated by nearly two months of Saudi-led air strikes on Houthi rebels.

Saudi regulator seeks to prosecute 9 Mobily officials – report

The offenders reportedly include board members and senior executives who were in charge at the time violations were committed in Mobily.

Saudi shells hit Yemen aid office, killing five – local official

Artillery fire and air strikes hit the town of Maydee along Yemen’s border with Saudi Arabia in Hajja province.

Saudi regulator cancels Arabian Contracting float at company request

Last week, approval was issued for the sale of a 30 per cent stake in Arabian Contracting, with the offer set to run between June 10 and 16.

Saudi Arabia, partners turn down Chinese requests for extra oil

Research found Saudi Arabia’s share of Chinese crude imports dropped to just over 30 per cent in May from 36.5 per cent in April.