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Al Rajhi Bank’s Profit Falls On Higher Costs

The Saudi lender said that third-quarter net profit dropped 3.5 per cent from last year to SAR1.87 billion.

Gitex: STC Announces New Partnerships

The Saudi telecom giant has made several announcements on the opening day of technology week, including deals with Ericsson, Huawei and Wikipedia.

Safco Says Q3 Net Profit Falls 5.1%

The Saudi Arabian Fertilizer Company blamed low urea prices for the drop in profit.

Saudi’s Samba Net Profit Rises 2.3%

Samba, the Kingdom’s second-largest listed lender by market value, made SAR1.16 billion in the third quarter of the year.

Saudi’s SABB Q3 Profit Down 28.3% From Q2

The Saudi lender posted a profit of SAR 656 million for the three months ended 30 September 2012.

Saudi Hollandi Bank Posts 5.9% Rise In Q3 Profit

The Kingdom’s eighth-largest lender said that it made SAR317 million in the third quarter of the year.

Saudi To Supply Crude To Asian Buyers

The Kingdom increased the selling prices for November to Asian buyers in line with widening product cracks.

Riyad Bank And Arab National Post Higher Profits

Both Saudi Arabian lenders have seen their operating income rise for the third quarter.

Saudi Arabia Finds New Gas Field

Aramco says gas flow at new Red Sea site is 10 million cubic feet a day and more wells could be drilled.

Masterminding Saudi Arabia’s Fate

Can the Kingdom build a sustainable economy before its oil wealth runs out? The race is on as youth unemployment simmers to boiling point.

Saudi Says Lower Oil Price “Suitable” For Global Growth

Brent crude has fallen from a high for the year of $128 a barrel in March to $112.

EXCLUSIVE: GE’s Immelt Increases Gulf Footprint, Cuts Slow-Growth Operations

GE CEO Jeff Immelt says the firm will cut jobs globally but inject $1 billion into Saudi Arabia.

Alwaleed’s Kingdom To Book Gain From Land Sale In Q3

Kingdom Holding sold the plot in Riyadh for $66.6 million.

Saudi Almarai Q3 Profit Up 4.7%

The dairy producer’s third quarter revenue rose 27 per cent to SAR2.7 billion.

Alwaleed’s Kingdom Holding Plans Up To $500m Loan

The proceeds will be used to refinance existing debts, said sources.

Saudi Says IMF’s 2016 Deficit Forecast Is ‘Doomsday Scenario’

The IMF said its base scenario envisaged a fiscal deficit of 0.6 per cent of GDP by 2016.

GE Announces $1bn Saudi Investment

The global corporate is pumping funds into energy, healthcare and innovation in the Kingdom.

Saudi Downplays Virus Impact On Haj

Although no new cases of the virus have been detected so far, Saudi officials and the WHO are monitoring the situation.

Morocco Selects Saudi-Led Group For $1bn Solar Deal

A consortium led by Saudi International Company for Water and Power (ACWA) won the major contract.

Over 1.3m Saudis On Unemployment Benefit

The Kingdom introduced the Hafiz programme last year, which pays unemployed nationals up to SAR2,000 a month.

Saudi’s Mojil Group Eyes Disbandment As Losses Build

The Mohammed al-Mojil Group say its losses exceed three-quarters of its capital and its liabilities exceed its assets.

Saudi Arabia May Run Small Budget Deficit In 2016-IMF

The IMF also cut its forecast for Saudi’s budget surplus this year from 16.5 per cent to 12 per cent, citing oil price movements.

Saudi Aramco To Choose Refinery Contracts From Pack Of 20

The Saudi-based oil giant will see its domestic output increase to 3.5 million bpd when new refineries come online.

US Lauds Saudi Commitment To Help Moderate Oil Price

Saudi Arabia’s Oil Minister Ali al-Naimi said earlier this month that the Kingdom was prepared to meet any additional demand for oil.

Saudi Airlines Unit Picks HSBC For IPO

Saudi Ground Services has hired the bank to advise as it plans to list 30 per cent of its shares.

High Oil Price Worries Saudi, Pledges To Meet Demand

Brent crude oil prices have largely traded in a range of $112-117 a barrel since mid August.

Gulf OPEC Big Three Raise Aug Oil Output By 400,000 bpd

Combined oil output from Saudi Arabia, Kuwait and the UAE rose sharply in August.

Saudi Arabia Forces Private Firms To Up Pay

The Kingdom will no longer count workers under a mandated quota if they are paid less than the minimum wage.

Tata Motors Looks At Saudi Plant For Jaguar Land Rover

The plant may come up next to a new aluminum smelter in the Kingdom, says Tata Motors chairman.

Yemen Says Saudi To Donate $1bn To Support Currency

The money will be placed in the Yemeni central bank and will support the country’s economic recovery, a Yemeni minister said.