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Saudi Arabia

Spain’s Abengoa Wins Deal For Solar-Powered Desalination Plant In Saudi

Abengoa will jointly develop the project with AWT, the commercial arm of King Abdulaziz City of Science & Technology.

Saudi Q4 GDP Growth Lowest In Over A Year

GDP, adjusted for inflation, grew two per cent from Q4 2013, down from 2.4 per cent in the third quarter.

Saudi’s Sahara Petrochemical Says Unit Signs $522m Loan Refinancing

The new loan also has more favourable pricing and conditions than the existing deal.

Saudi’s Kindgom Holding Q4 Net Profit Rises 15%

Kingdom made a net profit of SAR266 million ($70.84 million) in the last quarter of 2014.

Saudi Ma’aden Swings To Q4 Net Profit, Misses Estimates

The company reported a net profit of SAR376 million for the last quarter of 2014.

UK Minister Says Deplores Saudi Activist’s Flogging, Plans To Raise Matter

Saudi has come under pressure from Western countries over its punishment of activist and writer Raif Badawi.

Saudi Aramco To Cut Drilling Costs, Hold Rig Count Steady

Aramco deployed 210 oil and gas rigs in 2014.

Saudi Telecom Appoints Khalid Bin Hussain Biyari As CEO

Biyari’s current roles include senior vice president for technology and operations, and vice chairman of affiliate Viva Kuwait.

Saudi’s Tasnee Q4 Net Profit Drops 46.5% As Petchem Prices Weigh

The company made SAR160.7 million($42.8 million) in the last quarter of 2014.

Saudi Arabia’s Nuclear, Renewable Energy Plans Pushed Back

The country was initially looking to install 17 gigawatts of nuclear power and 41 gigawatts of solar capacity by 2032.

Saudi’s Al Tayyar Travel Q4 Net Profit Up 13.5% On Sales Jump

The company made a net profit of SAR236 million ($62.9 million) in the last quarter of 2014.

Saudi Telecom Posts 32.6% Q4 Net Profit Slump, Raises Dividend

The firm made a net profit of SAR2.44 billion ($649.8 million) in the last quarter of 2014.

Saudi Issues Shoot On Sight Order For Border Infiltrators

The orders follow an attack on the Saudi border earlier this year leaving two guards and a senior military commander dead.

Saudi’s Sipchem Q4 Profit Falls 33% As Production, Sales Drop

Sipchem made a profit of 132.4 million riyals ($35.28 million) in the last quarter of 2014.

Saudi’s Almarai Cites Sales Growth For 15% Profit Jump

The company made net earnings of SAR428 million in the last quarter of 2014.

Iran Minister’s Saudi Visit Delayed Due To Oil Price Fall – Tehran

The two sides have been talking about the visit for about 18 months, and a date had been tentatively set for last October.

Saudi’s Savola Group Misses Estimates With 23% Profit Drop

Net earnings in the three months to Dec. 31 were SAR434.4 million.

SABIC Has No Plan For New Bonds In 2015 But May Refinance Loans

The company is considering refinancing two loans that fall due in June and November, an official said.

SABIC Sales Drop 10% As Profits Plunge – CEO

SABIC’s chief executive Mohamed al-Mady told reporters that the outlook for 2015 was unpredictable and contingent on oil prices.

Saudi’s Al Khodari Posts Five-Fold Q4 Net Profit Hike, Project Pipeline Grows

The company made a profit of SAR45.6 million ($12.2 million) in the last quarter of 2014.

Oil Slump Slashes Saudi Basic Industries Q4 Profit 29%

The company earned SAR4.36 billion ($1.16 billion) in the last quarter, a statement said.

Saudis To Review Blogger’s Flogging Case In Supreme Court

Badawi was flogged 50 times last week but a second round of lashings was postponed for what a source told Reuters were medical reasons.

The Battle For Black Gold: Can Saudi Win?

The Saudi domestic economy is softening as oil prices head south. Can it cope with the crash?

Is Saudi’s Stock Market Ready For An Upgrade?

In 2014, bourses in the UAE and Qatar were upgraded to emerging markets status. Could the opening of Saudi Arabia’s Tadawul see it follow?

New Saudi-Sinopec Oil Refinery Starts Exports

The company did not specify where the shipment was headed to.

Revealed: World’s Most Expensive Construction Markets

Qatar was the most expensive construction market in the Middle East region in 2014, according to a study by EC Harris.

Saudi’s Al Rajhi Bank Q4 Net Profit Falls 1.8%, Misses Forecast

The decrease was the sixth straight drop in quarterly profit posted by the bank.

Saudi Lender NCB Q4 Profit Rises 1.7%, Misses Forecast

The lender made a net profit of SAR1.83 billion($487.6 million) in the last quarter of 2014.

Saudi Cement Q4 Profit Rises 9%, Beats Forecasts

The company made a net profit of SAR269 million ($71.68 million) in the last quarter of 2014.

Saudi British Bank Q4 Net Profit Near-Flat, Misses Forecasts

The bank made a profit of SAR969.4 million ($258.3 million) in the last quarter of 2014.