Home next GCC next Saudi Arabia

Saudi Arabia

Mobily Shares Surge On Hopes For Indirect Government Support

The Saudi telecoms operator’s stock had been suspended for a week until Thursday.

Saudi Arabia Expects Oil Price To Stabilise

The minister said that the Kingdom wanted the market to stabilise but said it will not subsidise higher cost producers.

Saudi Shipper Bahri Plans SAR3.9bn, 10-Year Sukuk Issue

The facility will be used to repay debt and for general business purposes.

Saudi Arabia, South Korea Sign MoU On Nuclear Power

The MoU calls for South Korean firms to help build at least two small-to-medium sized nuclear reactors in Saudi.

Saudi’s Mobily Says Can Meet All Debts After Earnings Debacle

The company said that it does not anticipate difficulties with respect to future financing repayments and costs.

Saudi Arabia Regulator To Resume Trade In Mobily Shares On Thursday

The regulator had suspended Mobily’s shares last Wednesday, after the company announced it had suffered a $243 million loss in 2014.

Saudi Arabia’s MERS Death Toll Reaches 400

The Kingdom also reported four new cases of MERS infections, bringing the total number of infections to 931 since 2012.

Kerry Visits Riyadh To Soothe Fears Of Stronger Iran Under Nuclear Deal

Convincing Saudi Arabia to accept any agreed nuclear deal is important to the US due to the kingdom’s strategic position in the region.

Saudi Market Regulator Says Suspects Insider Trading In Mobily Shares

The firm slashed its profits for 2013 and the first half of 2014 by a combined $381 million, citing accounting errors.

Saudi Consul Released After Three Years As Hostage In Yemen

Abdullah al-Khalidi, Saudi Arabia’s consul in Aden, was seized in March 2012.

Stock News: Egypt Rebounds, Saudi Arabia Flat

Saudi Arabia’s market lacked clear direction and was nearly flat as oil edged down towards $62 per barrel.

Egypt’s Sisi Meets New Saudi King To Discuss Middle East Crises

King Salman broke official protocol to meet Sisi at the airport.

Saudi Kayan Says President Resigns

The company said that the resignation will take effect from March 31.

Hilton Signs Up Three More Garden Inns

Hilton Garden Inn Dubai Al Jadaf becomes the brand’s fourth Dubai project

Saudi Aramco Senior VP Buainain Steps Down-Sources

Khalid al-Buainain took early retirement for personal reasons and his departure will take effect on Sunday.

UAE And Kuwait To Reopen Embassies In Yemen’s South, Backing Hadi

Yemen’s president Hadi, who was forced to resign by Houthis, fled to Aden where he has set up a new seat of power.

Rowan Says Expects Saudi Aramco To Keep Employing Its Rigs

Rowan said it was in talks with Saudi Aramco to extend contracts for four of its drillships and was looking to win contracts for three jack-up rigs.

Saudi Satisfaction With ‘Calm’ Oil Markets Signals $60 Anchor

In his first public comments since oil prices rebounded, Saudi Oil Minister Ali al-Naimi signalled satisfaction with developments, saying he saw oil demand growing.

Middle East Funds Increasingly Bullish On Saudi Arabian Equities

Saudi Arabia plans to open its stock market to direct investment by foreign institutions in the first half of 2015.

Saudi To Hike April Crude OSPs For Asia, Arab Light

Higher OSPs would come as a vote of confidence by the OPEC kingpin in oil demand recovery.

Saudi Aramco Sees Jizan Refinery’s First Units Starting Up In 2017

The 400,000 barrels per day refinery is part of a $20 billion plan to develop an industrial city in Jizan.

Oil Rises To $59 As Saudis Say Demand Growing

Oil fell on Tuesday after a bigger-than-anticipated rise in U.S. crude oil stocks.

Saudi Mobily Suffers 2014 Loss, Loan Covenant Breach

Mobily’s shares have fallen by 56 per cent since an accounting scandal first broke in November.

Saudi’s Naimi Says Oil Demand Is Growing As Prices Stabilise

The price of crude rebounded from a near six-year low to around $60 per barrel this month.

Saudi Regulator Suspends Mobily Shares After 2014 Results Revision

Mobily on Wednesday said it had swung to a full-year loss in 2014, according to audited results.

Saudi’s Mobily Set To Slash Dividends After Earnings Scandal

Tuesday’s price of SAR35.30 per share means around $13 billion has been wiped off Mobily’s market value since May.

Saudi Court Gives Death Penalty To Man Who Renounced His Muslim Faith

The man, in his 20s, reportedly posted an online video ripping up a copy of the Koran and hitting it with a shoe.

Saudi’s Mobily Says Chairman Quits, Appoints Replacement

Abdulaziz al-Saghyir quit due to health reasons, but will remain on Mobily’s board, the company said.

Saudi Fransi Capital CEO Resigns – Source

Yasir al-Rumayyan resigned from the bank last week after heading the business since the start of 2011.

UN Experts Warn Of “Critical Knowledge Gaps” On Saudi MERS Virus

The WHO says 1,026 confirmed cases – including at least 376 deaths – have been reported since MERS emerged in 2012.