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Saudi Arabia

Saudi’s Shoura Council approves new ‘green-card’ residency scheme for expats

The new ‘privileged’ iqama law will seek to provide “qualified” foreigners residency without the need for a Saudi sponsor

Saudi’s Arabian Centres prices IPO at lower end, books covered

Arabian Centres owns 19 malls, making it the leading owner and operator of shopping malls in Saudi

Saudia apologises for recurrent flight delays, assures of compensation

The airline blamed “exceptional circumstances” including bad weather conditions and technical malfunctions

Saudi appoints new head for civil aviation body GACA

The kingdom sacked the previous president of the body in January

Saudi, Russia, Qatar and Venezuela agree to freeze oil output at Jan levels

Saudi Arabia’s Taqa plans to acquire two North American firms

Taqa has allocated about $1.2bn for new investments and acquisitions in North America and the MENA region

Video: Swarms of locusts invade Saudi city

Saudi has seen locust outbreaks since the start of this year

China’s Hengli boosts Saudi oil buys as new refinery ramps up

Saudi oil exports to China averaged at 1.37 million barrels per day in the first four months this year

Saudi stock market plunges to nearly eight-month low

Oil prices weighed on Saudi’s financial and petrochemical shares

Saudi man dies as shopping centre collapses in Jeddah – report

The roof of the shopping centre in east Jeddah suddenly collapsed, killing the man who was inside

Saudi Telecom issues $1.25bn debut sukuk

Saudi Telecom’s new bonds will be listed on the Irish Stock Exchange

Saudi, UAE top destinations for overseas Filipino workers

One out of four overseas Filipino workers worked in Saudi Arabia between April and September last year

Saudi oil output may rise in June, but US may not get the extra exports it wants

Riyadh often lifts output in the hot summer months to fuel oil-fired power plants and meet rising electricity demand

Saudi says Ramadan to start on Monday, UAE moon-sighting committee to meet on Sunday

The official Ramadan moon sighting committee will meet on Sunday after the Maghreb prayer in the UAE

Jeddah-based newspaper Saudi Gazette stops print-run, goes digital-only

The Jeddah-based English language newspaper began in April 1976

Revenues boost Saudi Arabia’s Q1 budget, expenditure up 8%

Revenues were boosted by both the kingdom’s oil and non-oil sectors

Saudi-led coalition attacks air base adjoining Sanaa’s airport

The raids targeted drone maintenance sites, a communications system and locations of drone experts and operators, a Saudi official said

Saudi coast guard rescues Iranian oil ship in Red Sea

The 26-sailor crew of the ship were all rescued

Saudi wealth fund PIF plans to borrow via debt twice this year, says MD

Last year the fund raised an $11bn international syndicated loan, its first commercial borrowing

Saudi advises its citizens to leave Sri Lanka

The advice follows suicide bomb attacks on hotels and churches that killed more than 250 people on April 21

Saudi’s Flynas considering upgrading Airbus A320neo order

The airline could opt for the larger A321 model, according to its CEO

Saudi’s Falih will stick to global oil deal, pact could be extended

Saudi’s energy minister was talking to Russia’s RIA news agency

Saudi’s economy may grow faster in 2019 that previously forecast – IMF

The non-oil sector is expanding faster than the wider economy

Saudi airline Flyadeal’s decision on Boeing MAX “imminent” – CEO

The airline is reconsidering the order after two MAX jets fatally crashed in Ethiopia in March and in Indonesia in October

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Saudi’s SABIC Q1 net profit drops 38%, cites lower selling prices

The company made a net profit of SAR3.41bn ($909m) in the three months to March 31, down from SAR5.51bn last year

Arabian Centres to raise up to $836m in Saudi’s biggest IPO since 2014

The IPO would be the country’s biggest since Saudi lender National Commercial Bank raised $6bn

Saudi wealth fund-backed real estate firm to buy $200m worth of mortgages

SRC, formed in 2017, is trying to boost the kingdom’s secondary mortgage market

Saudi central bank sees more interest from international lenders

The kingdom announced last week that Credit Suisse had won approval for a banking licence to operate in Saudi

Saudi aims to create over 561,000 private sector jobs by 2023

The kingdom launched the Qiwa online platform to consolidate all the employment data in the kingdom

Saudi further extends debt curve with new 30-year sukuk

Demand for the new issuance, due in 2049, is equivalent to around SAR9.25bn

Nigeria’s oil minister, Saudi Aramco discuss investment options

Aramco is expanding downstream operations as part of its drive to become the world’s largest integrated energy firm