Home GCC Saudi Arabia

Saudi Arabia

sabic

SABIC is said to weigh IPO of specialty chemicals business

SABIC reported its biggest quarterly loss in at least a decade in the three months through June

Saudi Arabia dismisses reports of Crown Prince’s meeting with Israeli officials

‘No such meeting occurred’, confirmed the kingdom’s Foreign Minister

Saudi virus

Saudi to offer Covid-19 vaccine for free to citizens and residents

The ministry aims to cover 70 per cent of the country’s population – that has not yet contracted Covid-19 – by the end of 2021

Saudi oil facility hit by Houthi projectile attack

No casualties were reported

GCC Covid-19 update: UAE reports 1,065 cases, two deaths

The case count in the UAE has risen past 160,000

G20 leaders

G20: World leaders promise to ensure equality in the race to vaccinate people for Covid-19

“There is very clear recognition from the G20 members that if we leave any country behind, we will be behind” – Saudi minister

Saudi Arabia’s Acwa Power set to raise $1bn in sukuk sale

The sukuk will be used to help fund Acwa’s share of an $8bn acquisition of gasification and power assets at Jazan

GCC Covid-19 update: UAE reports 1,205 cases, four deaths

The death toll in the UAE has risen to 552

Western Union buys $200m stake in Saudi Telecom unit

Western Union Co. acquired a 15 per cent stake in stc pay

Saudi Arabia won’t tap debt market again in 2020, minister says

The world’s largest crude exporter is relying on more borrowing as it grapples with the impact of the twin economic shocks caused by oil market turmoil and the coronavirus pandemic

Saudi Arabia to review VAT hike once economic crisis ends

The VAT hike to 15 per cent, was implemented in July this year

Industry outlook: How has the wealth management space fared in the GCC?

Similar to wealth, wealth management has gone through layers of evolution to become a specialised investment advisory service

Battista Anniversario

German firm Automobili Pininfarina unveils world’s first globally connected hypercar

Owners will be able to access online services in over 50 countries, including the Gulf region

Turki Al Malki, Saudi coalition

Saudi forces destroy armed drone launched towards civilian targets in the kingdom

The attack, launched on Wednesday, targeted the kingdom’s southern region

Saudi Arabia raises minimum wage for citizens by 33%

The higher minimum wage must be paid for a worker to be counted as part of a company’s quota of citizen employees

World’s biggest oil firm Saudi Aramco sells $8bn in bonds

Aramco sold $8bn in tranches maturing in three, five, 10, 30 and 50 years

Real Estate

Revealed: The most transparent real estate markets in the MENA region

Dubai and Abu Dhabi have been ranked as having the most transparent property markets in the region according to JLL’s latest index

Saudi Arabia to pivot attention, plow funds at home

The fund intends to play a leading role in refocusing the economy toward underdeveloped industries

Aramco turns to bonds to help fund $75bn dividend

The yield on Aramco’s $3bn of bonds due in 2029 has dropped to 2.09 per cent from 3.04 per cent at the start of the year

GCC Covid-19 update: UAE reports 1,209 cases, 4 deaths

The death toll in the UAE and Oman has risen to 534 and 1,350 respectively

Saudi women phone

Saudi to provide 60,000 additional free wifi points, including at the two Holy Mosques

The initiative will see free wifi provided at hospitals, malls and public parks across the country

Ecommerce

UAE, Saudi Arabia top global Black Friday 2020 spending: study

Survey by Simon-Kucher & Partners says UAE and Saudi shoppers to spend $400 on average

Shop now, pay later payment platform Spotii makes Saudi debut

Customers can make interest-free payments over four equal instalments

GCC Covid-19 update: UAE reports 1,136 infections, 773 recoveries

The death toll in the UAE has risen to 523

Saudi research centre picks Oracle Cloud to run Covid-19 experiments

King Abdullah International Medical Research Centre chooses Oracle for high-performance computing

Multiple shots fired at Saudi embassy in Netherlands

No injuries were reported

Saudi oil giant pitches gas to China in cleaner-fuels push

Aramco is the world’s largest oil exporter

Oil extends gains on signs OPEC+ edging toward keeping cuts

The producer group is considering keeping additional supply off the market for three to six months

Several people injured in bomb attack in Jeddah

The incident took place at a non-Muslim cemetery

GCC Covid-19 update: UAE reports 1,214 cases; 302 infections confirmed in Oman

The death toll in the UAE has risen to 520