Saudi Arabia’s economy contracted for a fifth straight quarter as the kingdom curtailed crude production to fulfill its commitments to OPEC, though the non-oil sector – the engine of job creation – showed signs of [ More … ]
In a surprise move, Saudi Arabia’s Energy Minister Khalid al-Falih said on Sunday that he believed the oil market would balance itself in 2017 even if producers did not intervene, adding that keeping output at [ More … ]
One day after Saudi Oil Company “Aramco” Informed Egypt that it Would Halt The Supply Of Oil Products (but it reportedly later resumed oil supplies to Cairo according to Anadolu Agency), Saudi Aramco signed today [ More … ]
Saudi Arabia’s officials are meeting investors this week to gauge appetite for the country’s first international bond, a potential multibillion-dollar issue aimed at strengthening the kingdom’s finances strained by low oil prices, reported The Wall [ More … ]
China has agreed to establish a direct trading pair between its yuan currency and the Saudi Arabian riyal, and the United Arab Emirates’ dirham, the China foreign exchange trading platform operator said on Friday, according [ More … ]
Last week, the Council of Saudi Ministers took some key decisions on various issues concerning Saudis and expatriates. One of them was the restructuring of visa fees. From October, fees of all types of visas [ More … ]
Saudi Arabia just made it much more likely that OPEC and other oil producers will take action if crude prices weaken. The word that the cartel will meet on the sidelines of an energy conference [ More … ]
Under pressure from Russian, Iraqi and Iranian oil exports, Saudi Arabia discounted its crude last weekend to maintain its share of big Asian markets. The price cut, which applies to September purchases, comes after two [ More … ]
Saudi Aramco, the world’s largest oil exporter, lowered the pricing terms for Arab Light crude sold to Asia by the most in 10 months, signaling Saudi Arabia has no plans to back down while OPEC [ More … ]
Indian diplomats in Saudi Arabia have distributed 15 tons of emergency food to thousands of stranded Indian construction workers who were left without money, food or airline tickets home after they were sacked by cash-strapped [ More … ]
Saudi businessmen and investors are watching post-Brexit developments in Britain and Europe very closely with considerable interest and concern, a business dialogue at the Arab News office in Jeddah was told on Thursday. Welcoming senior [ More … ]
Saudi Aramco presided over a signing ceremony of the Fadhili gas project, marking a new milestone in the company’s drive to expand gas production and supply to meet growing domestic demand for energy. The new [ More … ]
Saudi Arabia wants to expand its investments in China’s energy industry, the Saudi Energy Minister Khalid al-Falih said late on Friday, part of the kingdom’s efforts to boost cooperation with a top customer and increase [ More … ]
Saudi Arabia is talking the oil market up lately. That’s a big change from a few months when it was talking the market down. In fact, Saudi Arabia has been doing much more than talking [ More … ]
Saudi Arabia has hired J.P. Morgan, HSBC and Citigroup to help sell its debut international bond, a source said on Sunday, as the kingdom seeks to shore up its finances hurt by low oil prices. [ More … ]
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