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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.

Saudi Housing Minister Says Aiming To Tax Undeveloped Land

The minister’s comments suggested increasing political momentum for the tax, which could provide the government with additional revenues.

Saudi Arabia Mulls Privatisation Of Major Airports

The official, however, did not specify the total number of airports in the Kingdom that will be privatised.

Saudi Oil Minister Holds Talks With US Energy Deputy

They discussed global oil markets and cooperation on energy and environmental issues, climate change and solar energy use.

Saudi’s Yansab Q4 Net Profit Rises 39.7%, Beats Forecasts

The firm made a net profit of SAR617.8 million ($164.6 million) in the fourth quarter of 2014.

Saudi Arabia, Tajikistan To Join Beijing-Backed Development Bank

The entry brings the total number of founder nations intending to join the $50-billion bank to 26, officials said.

Saudi Arabia Increases Jail Sentence For Human Rights Lawyer

Walid Abu al-Khair, founder and director of watchdog group Monitor of Human Rights in Saudi Arabia (MHRSA), was sentenced last year to 10 years in jail.

Cayan Group Launches Projects Worth Dhs1.2bn In Dubai, Riyadh

The company has purchased plots in Dubai’s Umm Suqeim area and Riyadh’s King Fahed Road to develop its latest projects.

Saudi Bank Samba Q4 Net Profit Up 22.5%, Beats Forecasts

The bank attributed its increase in net profit to a rise in total operating income, which gained 13.4 per cent.

Banque Saudi Fransi Q4 Profit Jumps After Drop In Provisions

Banque Saudi Fransi made a net profit of SAR851 million ($226.8 million) in Q4 2014, up from SAR274 million in the same period a year earlier.

Saudi’s SAFCO Q4 Net Profit Falls 3%, Misses Forecasts

SAFCO did not provide a reason for the profit drop in the Enlgish results statement.

Saudi Cleric Condemns Snowmen As Anti-Islamic

Quoting from Muslim scholars, Sheikh Munajjid argued that to build a snowman was to create an image of a human being, an action considered sinful under Islam.

Saudi Government Studying Saline Water Conversion Corp Privatisation

Local media reported that the corporation is ready for the privatisation process and for listing on the Saudi stock exchange.

Stock News: Gulf Markets May Extend Gain On Strong Q4 Results

Several regional companies published positive fourth-quarter earnings.

Venezuela’s Maduro Seeks Support From Saudi Arabia On Oil Prices

Venezuela’s international reserves have deteriorated sharply due to the tumbling oil prices which hit new lows last week below $50 per barrel.

Saudi Kayan Appoints Sabic Senior Staff Member As Chairman

Omar al-Amoudi, executive vice president of shared services at Sabic and an existing Kayan board member, took over from Mutlaq al-Morished.

Saudi’s Riyad Bank Q4 Net Profit Rises 2.9%

Operating income in the fourth quarter stood at SAR1.995 billion.

Saudi Hollandi Bank Q4 Net Profit Up 33%, Beats Forecasts

The bank cited an increase in operating income, which rose 20 per cent year-on-year, for the profit hike.

GCC Rail Projects To See Investments Worth $200bn

Rail projects across the GCC are expected to fuel intra-regional trade while helping reduce fuel consumption.