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Saudi Arabia

Oil Steady Below $80 Ahead Of OPEC Output Decision

Key will be what OPEC’s biggest producer, Saudi Arabia, decides, with some analysts expecting no price supporting action from the Kingdom.

Saudi Builder Al Khodari Proposes $133m Capital Hike

The capital increase will require the approval of the bourse regulator and an extraordinary shareholder meeting, a bourse statement said.

Saudi Arabia Says Islamic State Ordered Attack On Shi’ites In Al-Ahsa

A ministry spokesperson said that the leader of the al-Ahsa attack had received orders from abroad, detailing the target and the location of the attack.

Saudi’s Naimi Says ‘As Happy As Can Be,’ No Clues On OPEC

Saudi’s oil minister brushed off questions about tumbling oil prices and surplus supplies.

Saudi Aramco To Nearly Double Planned Fadhili Gas Plant Capacity

The Fadhili gas plant is due to be in operation by the third quarter of 2018.

Iran To Push For Saudi Oil Output Cut At OPEC

Iran’s oil minister will meet his Saudi counterpart in Vienna to persuade the oil giant for cuts in oil production and supply, state news agency said.

Kerry To “Update” Saudi Foreign Minister On Iran Nuclear Talks

No further details about the meeting were disclosed.

Saudi’s Mobily Suspends CEO After Earnings Debacle

Errors in Mobily’s accounting led the company to restate 18 months of previously-announced earnings, wiping out $381 million of prior profits.

Danish Man Shot And Wounded In Saudi Capital

The attack comes a month after an American citizen was shot dead in Riyadh and another was wounded.

Uncertainty In Saudi Oil Policy Unleashes Conspiracy Theorists

Oil prices have dived by a third to their lowest since 2010.

Saudi Arabia Leans On Gulf States To Close Ranks As Region Boils

Regional concerns such as Iran’s impending nuclear deal and growing security threats from the region have helped mitigate the widening rift between GCC members, analysts say.

Iran To Hold Market Share Talks With Saudi At OPEC – IRNA

In the past two weeks, Zanganeh has visited Gulf Arab states Qatar, Kuwait and the UAE in a bid to win support for action to stabilise oil markets.

Saudi Kayan Signs Two Islamic Financing Deals Totalling $700m

The funds will be used by Kayan to fund an increase in working capital and complete factories under construction.

Saudi King Calls On Egypt To Back Gulf Accord

Relations between Cairo and Doha have deteriorated since President Abdel Fattah el-Sisi took charge.

Saudi Aramco’s Oil Resources To Grow To 900bn Barrels By 2025

Aramco produces almost 9.5 million barrels a day.

Saudi Crude Oil Exports Edge Up To 6.72m bpd In September

Saudi Arabia shipped 6.722 million bpd of crude in September, up from 6.663 million in August but lower than July’s 6.989 million, data showed.

Almost 60% Of Finance Professionals In ME Expect A Bonus In 2014

The majority of regional financial professionals also expect bonuses to increase when compared to last year, finds survey.

Saudi Investment Firm Jadwa Eyes Real Estate Push

Jadwa plans to partner with real estate developers in Saudi to select and execute projects on behalf of clients.

Saudi’s Advanced Petrochemical Sells SAR1bn Debut Sukuk

The five-year offering received investor orders worth SAR2.43 billion.

Saudi Central Bank Says Expects Relatively Stable Inflation Rates In Q4

Inflation in the OPEC member, which pegs its riyal currency to the dollar, eased to an annual 2.6 per cent in October from 2.8 per cent in the previous month.

Saudis To Open Stock Market To Foreigners Before April

The Capital Market Authority previously said that the Saudi market will open to direct investment sometime in the first half of 2015.

No Direct Impact On Saudi Budget From Oil Slide – Minister

With the price of Brent crude oil now below $80 a barrel, down from around $115 in June, the Saudi government may post a budget deficit next year.

India Urges Higher Pay For Millions Of Gulf Workers

The recommended minimum monthly salary has risen to SAR1,200 in Saudi, and to Dhs1,500 in the UAE.

Saudi Arabia, UAE And Bahrain End Rift With Qatar, Return Ambassadors

The three countries withdrew their ambassadors from Qatar in March, accusing it of undermining their domestic security.

Saudi Finance Minister Says Oil Must Be Left To Supply And Demand

Saudi Arabian Finance Minister Ibrahim Alassaf was replying to a question on whether the recent plunge in oil prices was on the G20 agenda.

Saudi’s Ma’aden Says $1.5bn Rights Issue To Start Tuesday

Shares will be sold at SAR23 each, with shareholders eligible to purchase one new share for every 3.8 shares they currently own.

Saudi Crown Prince Says Kingdom Continues With Its Balanced Oil Policy

The comments come ahead of a pivotal OPEC meeting on Nov. 27, where producers will consider whether to cut output in order to shore up prices that have dived more than 30 per cent.

Islamic State Leader Urges Attacks In Saudi Arabia

Baghdadi urged supporters in Saudi Arabia to take the fight to the rulers of the kingdom, which has joined the U.S.-led coalition in mounting air strikes against the Islamic State group in Syria.

Mexico And Saudi Arabia Push For Stable Oil Markets

Representatives from both Saudi Arabia and Mexico agreed that all efforts should be made to stabilize international oil markets.

OPEC Split On Whether Naimi For Or Against Oil Output Cut

Saudi’s oil minister Ali al Naimi said the Kingdom’s policy of seeking stable global markets had not changed.