Home GCC Saudi Arabia

Saudi Arabia

Saudi Links Dane’s Shooting To Islamic State, Arrests 3

The Danish man was injured after he was shot in Riyadh last month.

Saudi Arabia Builds Start-Up Culture With State Oil Money

Saudi Aramco’s Entrepreneurship Center has funded 43 ventures in the past three years.

Saudi Oil Minister Naimi: “Why Should We Cut Production?”

The current stance of Saudi is seen as a shift from its longstanding policy to act as a swing supplier, analysts say.

Differences Persist Despite Unity Pledges At GCC’s “Happy Summit”

Differences still exist between the six GCC states over issues relating to Egypt, Libya and Iran.

Dur Hospitality To Tap Bank Loans As Riyadh Developer Expands

Dur Hospitality has been expanding across Saudi Arabia as the local economy picks up pace.

Saudi-Based Dur Hospitality Inks Deal With Marriot For Two Hotels

Marriott International will operate an 80-unit hotel and a 140-unit executive apartment complex in the diplomatic quarter in Riyadh.

Oil Producers Face ‘Huge Liabilities’ In Climate Deal -Saudi Arabia

Saudi Arabia climate deal negotiator said that the new climate change policy should address the vulnerabilities of countries reliant on oil.

Saudi Arabia To Keep Jan Crude Supply To Asia Steady -Sources

Saudi Arabia blocked calls last month from poorer members of the OPEC for production cuts to arrest a slide in global prices.

Saudi Arabia Appoints Eight Ministers In Pre-Budget Reshuffle

The decree said the reshuffle was in preparation for the Kingdom’s 2015 budget, which is expected to be announced late this month.

Stock News: Dubai Leads Losses As Oil Drags Gulf Down

Brent crude oil fell more than $2 a barrel on Monday to a new five-year low.

Saudi Arabia Arrests 135 Over Terrorism Charges

Out of those detained, 109 are Saudi citizens while the remaining 26 hail from Syria, Yemen, Egypt, Lebanon, Afghanistan, Ethiopia, Bahrain, and Iraq.

REVEALED: Top 10 Companies in Saudi Arabia In 2014

The biggest listed businesses in the Kingdom, valued by market capitalisation.

Saudi’s Tasnee Signs $480m Deal To Raise Cristal Unit Stake

The transaction is in line with the company’s strategy to maximise its stakes in its subsidiaries, a statement said.

Saudi Slashes January Oil Prices For Asia, U.S.

The discounts on Saudi crude oil for Asian customers in January were the biggest since at least 2002 while prices were cut to the United States for the fifth month in a row.

Saudi Suspends Aid To Yemen After Houthi Takeover

Houthi fighters, friendly with Iran, took over the capital Sanaa in September.

Saudi Builder Khodari Gets $360m University Housing Contract

The contract, awarded by the government, covers the construction of staff housing at King Khaled University.

Saudi Nov Non-Oil Business Growth Slows To Six-Month Low

Companies surveyed said demand had slowed and competition had increased, but market conditions were still positive overall.

New Saudi-Sinopec Oil Refinery To Delay Exports To 2015

The 400,000 bpd Yasref refinery started trial runs in September and had originally planned its first exports by November.

Saudi’s Ma’aden, Barrick Gold Set Up Joint Venture Around Copper Asset

When fully operational, the mine is expected to produce 100 million pounds of copper in concentrate per year.

Saudi’s Marafiq Signs SAR2.5bn Islamic Loan

The company will use the murabaha-structured facility for capacity expansion plans in different projects.

Stock News: Most Gulf Markets Dip; Saudi Blue Chips Rebound

Saudi Arabia’s index rose 0.7 per cent while other Gulf markets declined.

Stock News: Most Gulf Markets Fall; Blue Chips Lift Saudi

Brent hit a high of $71.46 a barrel on Wednesday before giving up some gains and moving close to $71.

Saudi Would Consider Output Cut If Russia, Others Join In – Ex-Intelligence Chief

Oil has fallen since June to reach its lowest since October 2009.

Zain Saudi Rejects Mobily’s $586m Claim

The operator said it owed Mobily only SAR13 million.

Saudi Set For Tighter 2015 Budget After Oil Price Falls

The government gets about 90 per cent of its revenue from oil exports.

Saudi Regulator Halts Trading In Telcos Mobily And Zain Saudi

Mobily and Zain Saudi are embroiled in a money dispute.

Stock News: Saudi Petrochemicals Stocks Lead Riyadh Rebound

Oil prices rebounded three to four per cent after touching five-year lows on Monday.

Saudi Telco Mobily Says Seeks Arbitration On Money Owed By Zain Saudi

Zain Saudi owed Mobily SAR2.2 billion as of Nov. 30, 2013, a statement said.

Saudi Arabia Liberalises Investment Rules In Healthcare Sector

As per new rules, Saudi Arabia will allow foreigners and citizens who are not healthcare professionals to run hospitals and other medical institutions in the country.

Saudi Cabinet Says Oil Policy Purely Economic In Motive

The cabinet called for cooperation against market speculators and said that it was pleased with OPEC’s decision to keep output unchanged.