Home next GCC next Saudi Arabia

Saudi Arabia

Saudi’s Yansab Q1 Net Profit Drops 16.7% On Lower Prices

Yansab said the profit fall was due to lower prices and higher sales and maintenance costs.

Saudi Arabia Jails 13 For Aiding Overseas Fighters

They were all given travel bans to come into force after their sentences finish.

Saudi Arabia Seizes Drugs Worth $267m, Arrests Six

Police uncovered 22.6 million amphetamine pills hidden inside coils of barbed wire and rolls of plastic.

Saudi Liberal Website Closed By Jeddah Court

Local media reported that the website was shut down for publishing anti-Islamic material.

Saudi’s SAFCO Q1 Net Profit Drops 9.6%, Beat Estimates

The firm made a quarterly net profit of 843 million riyals ($224.8 million), compared to 932 million riyals in the corresponding period of last year.

German Tank Sale To Saudi Arabia Likely To Be Cancelled

German media have reported interest by Saudi Arabia in buying up to 800 Leopard 2 tanks from Germany.

Saudi Bourse Changes Closing Price Calculation For Shares

In future, the closing price will be the average of all trades in the final 15 minutes, weighted by the volume traded at each price.

Saudi Arabia May Close Shops Early To Boost Employment

From early July, shops may be required to close at 9pm instead of midnight.

Saudi’s Al Rajhi Bank Q1 Net Profit Slips 16.9%

The bank made SAR1.71 billion ($456 million) in the three months ended March 31.

Saudi’s Khodari Says Labour Reform Impact To Start Fading In H2

Labour reforms impact on the company will “drag on for a few more years”, but it is steadily decreasing, a top executive said.

TPG/Abraaj In Exclusive Talks For Saudi Fast-Food Chain Kudu

Riyadh-based Kudu operates more than 200 restaurants in the Kingdom.

Gunmen Kill Two Saudi Guards Near Yemen’s Border

The gunmen opened fire on a border patrol in Asir, SPA reported, but did not say who was behind the attack.

SABIC Plans To Lift Steel Capacity To 10m Tonnes By 2025

The company’s total steel production currently stands at six million tonnes per year.

Saudi’s Sipchem Q1 Net Profit Rises 6.5%

Sipchem made a profit of 68.7 million Saudi riyals ($18.3 million) in the three months to March 31.

Kuwait Hopes For Remedy To Gulf Row Over Qatar Soon

Kuwait, which offered to mediate in the dispute, is planning to present a solution to the two sides soon, a Gulf Arab diplomat said.

Saudi Arabia’s NCB Names Advisers For Share Sale

NCB chairman Mansour al-Maiman said earlier this week that the bank was preparing to list its shares on the Saudi stock exchange this year.

Saudi Telco Regulator To Re-Tender Piggyback Mobile Licence On Zain Saudi’s Network

Saudi’s Communications and Information Technology Commission named Dubai-based Axiom Telecom as the provisional winner last year.

Saudi Authorities Asked To Allow Sport For Girls In Public Schools

A ban on sports in private girls schools was officially lifted last year.

Second-In-Line To Saudi Throne Denounces Banks -Media

There were no indications that the comments by deputy crown prince Muqrin bin Abdulaziz would be followed by any concrete policies against banks in Saudi Arabia.

Saudi Records 11 Cases Of MERS Virus In Jeddah

Two of the patients died, six have recovered, while three are undergoing treatment, the official Saudi Press Agency reported.

Saudi British Bank Q1 Profit Rises 14%

The bank said it made 1.08 billion Saudi riyals ($287.97 million) in the three months ending March 31.

Saudis Keeps May Crude Supply Steady To 2 Asia Buyers -Sources

Saudi Arabia has supplied full contractual volumes to most Asian buyers since late 2009.

Saudi Arabia’s Crude Oil Output Drops To 9.566m bpd In March

The world’s largest oil exporter and OPEC heavyweight supplied 9.899 million bpd in February.

Saudi’s Almarai Q1 Profit Rises 7.3%, Misses Estimates

The company had sales worth 2.72 billion riyals in the first quarter, up 12.3 per cent from a year earlier.

Saudi’s Jarir Q1 Net Up 11.3% Despite Slower Sales Growth

Jarir made 201.3 million riyals ($53.7 million) in the first three months of 2014.

Saudi Hollandi Bank Q1 Net Profit Rises 20%

The bank made a profit of 417 million riyals ($111.19 million)in the three months to March 31, according to a bourse statement.

Saudi’s Riyad Bank Q1 Net Profit Up 13.5%

The bank made 1.08 billion riyals ($288 million) in the three months ending March 31.

Saudi’s Maaden Says Secures $2 Billion Loan For Phosphate Plan

The loan will be for 17 years and will be repaid in twice yearly instalments after a five-year grace period, Maaden said in a bourse statement.

Saudi’s Umrah Visa Extension Scheme To Launch Next Month- SCTA

Saudi Arabia received around 6.9 million religious tourists in 2013, according to official estimates.

Saudi March Business Activity Growth At Five-Month Low

Output growth slowed to 60.0 points while new orders growth slowed to 65.8 points, a new survey shows.