DUBAI (Reuters) – State oil giant Saudi Aramco’s profit plunged 73% in the second quarter of the year, as a slump in energy demand and prices due to the coronavirus crisis hit sales at the world’s biggest oil exporter. But the company stuck with plans to pay $... More »
DUBAI (Reuters) – Saudi information security company Elm is to acquire digital services company Tabadul from Saudi Arabia’s sovereign wealth fund, Elm said in a statement on Sunday. The Public Investment Fund (PIF) also owns Elm and was considering an initial ... More »
RIYADH (Reuters) – Saudi Arabia’s 84-year-old ruler, King Salman bin Abdulaziz, has been admitted to hospital in the capital Riyadh, suffering from inflammation of the gall bladder, state news agency SPA said on Monday. The king, who has ruled the world’s larg... More »
WASHINGTON/BERLIN (Reuters) – Finance officials from the Group of 20 major economies on Saturday vowed to resolve major differences over taxing big tech companies and reach a broad, consensus-based solution on international taxation this year. The United State... More »
DUBAI (Reuters) – Saudi Arabia’s central bank governor said it was encouraging commercial banks to lend more to sustain businesses during the coronavirus crisis. Saudi Arabian Monetary Authority (SAMA) Governor Ahmed al-Kholifey was speaking at a virtual econo... More »
RIYADH (Reuters) – Saudi Arabia’s King Salman has ordered up to 9 billion riyals ($2.4 billion) to be disbursed to pay part of the wages of private-sector workers to deter companies from laying off staff, the state-run Saudi Press Agency reported on Friday. Th... More »
RIYADH (Reuters) – Failure to reach a global deal on where and how much to tax digital giants such as Google (GOOGL.O), Amazon (AMZN.O) or Facebook (FB.O) would result in many digital tax regimes emerging all over the world, France’s Finance Minister said on S... More »
RIYADH (Reuters) – Japanese finance minister Taro Aso criticized on Sunday a U.S. tax reform proposal that he said could undermine global efforts to agree new rules on taxing big tech companies. The Organisation for Economic Cooperation and Development(OECD) i... More »
RIYADH/WASHINGTON (Reuters) – Central bankers from the United States, Japan and the euro zone meeting in the desert kingdom of Saudi Arabia this weekend had their own shifting sands to cross – those of elusive inflation. The problem facing all three is that pr... More »
DUBAI (Reuters) – State-owned oil company Saudi Aramco said on Sunday it had exercised its “greenshoe option” to sell an additional 450 million shares, raising the size of its initial public offering (IPO) to a record $29.4 billion. Aramco initially raised a $... More »
SAN FRANCISCO (Reuters) – Weeks after U.S. authorities brought a spying case against three Saudi nationals for digging up dissidents’ personal data at Twitter, the company suspended tens of thousands of accounts that appear to be linked to one suspect’s compan... More »
LONDON/RIYADH (Reuters) – Saudi Aramco is looking to buy insurance against war and terror attacks after a damaging drone and missile attack on some of its oil facilities in September, two sources told Reuters. Aramco, the world’s largest oil company, has been ... More »
DUBAI (Reuters) – Saudi Aramco met investors in Dubai on Sunday to market its initial public offering (IPO), after trying to secure demand from Kuwait’s sovereign wealth fund for the deal, worth up to $25.6 billion, which relies heavily on local and regional b... More »
RIYADH (Reuters) – Saudi Aramco’s weighting in Saudi Arabia’s main stock index once the oil giant has listed shares is not expected to breach the maximum limit set by the Gulf kingdom’s Tadawul exchange, a senior executive said on Sunday. “There is a ceiling f... More »
RIYADH (Reuters) – Saudi Arabia’s central bank is monitoring banking indicators on a daily basis and is not seeing any impact on liquidity from oil giant Aramco’s initial public offering (IPO), its governor said on Sunday. Saudi Arabian Monetary Authority gove... More »
RIYADH (Reuters) – Saudi Arabia’s banking sector has a high level of liquidity, its central bank governor said on Sunday, as banks in the Gulf state offer leverage to Saudi investors for shares in Saudi Aramco’s approaching initial public offering. “The Saudi ... More »
DHAHRAN, Saudi Arabia/DUBAI (Reuters) – Saudi Arabia’s giant state oil company finally kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the domestic bourse in what could be the world’s biggest listing as the kingdo... More »
DUBAI (Reuters) – Aramco, as Saudi Arabian Oil Co is usually known, is set to add another superlative to the list: the world’s most valuable listed company. The sprawling state-owned oil giant announced on Sunday its intention to float on the Riyadh stock mark... More »
WASHINGTON (Reuters) – Saudi Arabia’s crown prince warned in an interview broadcast on Sunday that oil prices could spike to “unimaginably high numbers” if the world does not come together to deter Iran, but said he would prefer a political solution to a milit... More »
DUBAI (Reuters) – Iran will pursue any aggressor, even if it carries out a limited attack, and seek to destroy it, the head of the elite Revolutionary Guards said on Saturday, after attacks on Saudi oil sites which Riyadh and U.S officials blamed on Tehran. “B... More »
DUBAI/RIYADH (Reuters) – Saudi Arabia will seek to make a case at a global gathering in New York this week for concerted action to punish and deter arch-foe Iran after strikes on Saudi oil plants rattled global markets and exposed the kingdom’s vulnerability t... More »
WASHINGTON (Reuters) – U.S. President Donald Trump said on Sunday the United States was “locked and loaded” for a potential response to the attack on Saudi Arabia’s oil facilities, after a senior U.S. administration official said Iran was to blame. Trump also ... More »
CAIRO (Reuters) – Eid Al Salwaawi, 69, paints murals of the rituals of the haj pilgrimage on the walls of a house in Cairo’s Sayeda Zainab neighborhood. Sometimes he volunteers to paint scenes that celebrate the haj and religious stories and lessons, other tim... More »
RIYADH/DUBAI (Reuters) – Saudi Arabian budget airline flyadeal will not proceed with a provisional $5.9 billion order for Boeing 737 MAX aircraft, instead opting for a fleet of Airbus A320 jets. Flyadeal has been reconsidering a commitment to order the Boeing ... More »
(Reuters) – Saudi air defenses intercepted two Houthi drones, one of them targeting a residential area in the southern city of Abha, the Saudi press agency said on Tuesday, citing the Saudi-led coalition. Al Masirah TV, citing a military spokesman, said on Mon... More »
WASHINGTON (Reuters) – U.S. President Donald Trump, declaring a national emergency because of tensions with Iran, swept aside objections from Congress on Friday to complete the sale of over $8 billion worth of weapons to Saudi Arabia, the United Arab Emirates ... More »
DUBAI/LONDON (Reuters) – Saudi Arabia said on Monday that two Saudi oil tankers were among vessels targeted by a “sabotage attack” off the coast of the United Arab Emirates, condemning it as an attempt to undermine the security of global crude supplies. The UA... More »
DUBAI (Reuters) – Saudi Technology Ventures (STV) said on Tuesday Uber’s deal with Careem will help the Middle East ride hailing firm expand its customer base even further and continue to develop the regional economy. STV is a Careem investor and participated ... More »
DUBAI (Reuters) – Saudi Arabia plans to cut its crude oil exports in April to below 7 million barrels per day (bpd), while keeping its output “well below” 10 million bpd, a Saudi official said on Monday, as the kingdom seeks to drain a supply glut and support ... More »
LONDON (Reuters) – Saudi Aramco’s chief executive said on Tuesday the oil industry is facing “a crisis of perception” and the views of some observers that the end of oil is near with the rise of electric vehicles are illogical and not based on fact. Amin Nasse... More »
WASHINGTON (Reuters) – U.S. senators said on Monday a Trump administration briefing had not changed opinions on the need to push back at Saudi Arabia over the murder of journalist Jamal Khashoggi and its conduct in the war in Yemen, and predicted a Senate vote... More »
RIYADH (Reuters) – Agreements worth 235 billion riyals ($63 billion) were signed on Monday on the sidelines of a Saudi Arabian industrial development conference in the Saudi capital Riyadh, said Al Arabiya TV. No details were available on the nature of the agr... More »
RIYADH (Reuters) – The Saudi Arabian government will spend 100 billion riyals ($27 billion) in 2019 and 2020 as part of its industrial development program, Aabed Abdullah al-Saadoun, deputy minister of Energy, Industry and Mineral Resources said on Monday Sour... More »
SYDNEY/BANGKOK (Reuters) – The United Nations has asked Australia to consider refugee resettlement for an 18-year-old Saudi woman who fled to Thailand saying she feared her family would kill her, the Australian government said on Wednesday. Rahaf Mohammed al-Q... More »
CAIRO (Reuters) – Saudi Crown Prince Mohammed bin Salman left Algeria after an official visit that started on Sunday night, Saudi state TV reported on Monday. Prince Mohammed arrived in Algeria from Mauritania, resuming his tour of Arab countries after attendi... More »
JEDDAH, Saudi Arabia (Reuters) – Saudi Arabia’s main sovereign wealth fund will set up a network of entertainment centers across the kingdom as the government tries to jump-start a domestic leisure industry, the chairman of the company carrying out the plan sa... More »
RIYADH (Reuters) – A Saudi Arabian court began the trial of two Jordanians accused of spying against the kingdom for Israel’s Mossad intelligence agency, Saudi-owned al-Arabiya said on Monday. The charges under consideration by the Specialized Criminal Court i... More »
TEL AVIV (Reuters) – The United States is deeply concerned by Iran’s “destabilizing and malign activities”, new Secretary of State Mike Pompeo said after meeting Israeli Prime Minister Benjamin Netanyahu on Sunday. The former CIA director was speaking on a fly... More »
RIYADH (Reuters) – Secretary of State Mike Pompeo arrived in Saudi Arabia on Saturday on a hastily-arranged visit to the Middle East as the United States aims to muster support for new sanctions against Iran. The visit to Riyadh, Jerusalem and Amman just two d... More »
SINGAPORE (Reuters) – Top oil exporter Saudi Arabia is expected to cut prices for all crude grades it sells to Asia in May to reflect weaker prices for its Middle East benchmark Dubai crude, trade sources said on Monday. The official selling price (OSP) for fl... More »
DUBAI (Reuters) – The Arab world’s largest private broadcaster has been ordered to stop airing Turkish television programs, it said on Monday, as tensions rise between Ankara and some Arab states. Turkish soap operas in particular are a big hit across the Midd... More »
People attend the jazz festival in Riyadh, Saudi Arabia February 23, 2018. REUTERS/Faisal Al Nasser RIYADH (Reuters) – Men and women swayed to music at Saudi Arabia’s first-ever jazz festival on Friday, the second of a three-day outdoor event that showcases th... More »
FILE PHOTO: A view shows Saudi Aramco’s Wasit Gas Plant, Saudi Arabia December 8, 2014. Saudi Aramco/Handout/File Photo via REUTERS LONDON (Reuters) – It’s the burning question in the oil industry: when will Saudi Arabia pull the trigger on the Aramco stock ma... More »
FILE PHOTO: Saudi Arabian billionaire Prince Alwaleed bin Talal sits for an interview with Reuters in the office of the suite where he has been detained at the Ritz-Carlton in Riyadh, Saudi Arabia January 27, 2018, REUTERS/Katie Paul /File Photo DUBAI (Reuters... More »
Saudi men stand next to camels as they participate in King Abdulaziz Camel Festival in Rimah Governorate, north-east of Riyadh, Saudi Arabia January 19, 2018. Picture taken January 19, 2018. REUTERS/Faisal Al Nasser AL-RUMAHIYA, Saudi Arabia (Reuters) – The dr... More »
FILE PHOTO: A chess player looks at the board during a game against Israeli grandmaster Alik Gershon at Rabin Square in Tel Aviv, October 21, 2010. REUTERS/Nir Elias/File Photo ATHENS (Reuters) – Israeli players have been denied visas to participate in a speed... More »
DUBAI (Reuters) – Saudi Arabia said on Monday that public cinemas would be allowed in the conservative kingdom and the first cinemas were likely to open early next year. “As the industry regulator, the General Commission for Audiovisual Media has started the p... More »
FILE PHOTO: Saudi Crown Prince Mohammed bin Salman attends the Future Investment Initiative conference in Riyadh, Saudi Arabia October 24, 2017. REUTERS/Hamad I Mohammed/File Photo DUBAI (Reuters) – Saudi Arabia’s powerful Crown Prince called the Supreme Leade... More »
Saudi Arabia's Crown Prince Mohammed bin Salman's recent political purge raises concerns and remains unclear but does not appear to amount to mass arrests, U.S. Secretary of State Rex Tillerson told reporters on Friday. More »
Saudi Arabia's future king has tightened his grip on power through an anti-corruption purge by arresting royals, ministers and investors including billionaire Alwaleed bin Talal who is one of the kingdom's most prominent businessmen. More »
Saudi Arabia's Al Tayyar Travel said on Monday that its business was continuing despite media reports that one of its non-executive board members had been detained. More »
A Saudi-led military coalition said it will temporarily close all air, land and sea ports to Yemen to stem the flow of arms to Houthi rebels from Iran, said a statement on Monday on state news agency SPA. More »
Bribery, embezzlement, money laundering and abuse of power are among the accusations leveled against dozens of Saudi princes, officials and businessmen detained in an anti-corruption probe, a Saudi official told Reuters on Monday. More »
Saudi Arabia embarked on an anti-corruption purge on Sunday involving the arrest of royals, ministers and investors including billionaire Alwaleed bin Talal, one of the kingdom's most prominent businessmen. More »
State-owned Saudi Arabian Airlines said it will start flying regularly to Iraq on Monday after a 27-year halt, state news agency SPA said. More »
Saudi Arabia's Public Investment Fund plans to invest about $1 billion in Richard Branson's space company, Virgin Galactic, and sister companies The Spaceship Company and Virgin Orbit, according to a joint statement published on Thursday. More »
State-owned Saudi Aramco has asked FTI Consulting (FCN.N) to suspend its investor relations advisory work related to the oil company's planned initial public offering, people familiar with the matter told Reuters. More »
Snap Inc has been asked by the Saudi Arabia government to remove the Al Jazeera Discover Publisher Channel in that country because it violated local laws, the social media company said on Sunday. More »
A 14-year-old boy who was detained by Saudi police for dancing to the song "Macarena" at a traffic intersection has been released with a warning about road safety, the interior ministry said on Wednesday. More »
Saudi Arabia's state carrier said on Sunday it had been unable to send planes to transport Qatari pilgrims to the kingdom because it had been unable to get permission to land at Doha airport amid a diplomatic dispute between the two countries. More »
Goldman Sachs (GS.N) received approval on Sunday to trade equities in Saudi Arabia, joining the growing band of western investment banks and fund managers expanding in the kingdom. More »
Saudi Arabia favours New York for the main foreign listing of state oil giant Aramco, even though some financial and legal advisers have recommended London as a less problematic and risky option, people familiar with the matter told Reuters. More »
FILE PHOTO – Saudi Deputy Crown Prince Mohammed bin Salman waves as he meets with Philippine President Rodrigo Duterte in Riyadh, Saudi Arabia, April 11, 2017. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS Saudi Arabia plans to develop reso... More »
FILE PHOTO: An old man infected with cholera lies on the bed at a hospital in Sanaa, Yemen, May 12, 2017. A cholera epidemic in Yemen, which has infected more than 332,000 people, could spread during the annual haj pilgrimage in Saudi Arabia in September, alth... More »
FILE PHOTO: Shaybah oilfield complex is seen at night in the Rub’ al-Khali desert, Saudi Arabia, November 14, 2007. Saudi Arabia will cut crude oil shipments to its customers in August by more than 600,000 barrels per day to balance the rise in domestic consum... More »
The Saudi Food and Drug Authority has announced a temporary halt to poultry and egg imports from Belgium following an outbreak of contagious H5N8 bird flu there, the state news agency SPA reported on Sunday. More »
Saudi Arabia’s King Salman bin Abdulaziz Al Saud stands during a reception ceremony for British Prime Minister Theresa May in Riyadh, Saudi Arabia, April 5, 2017. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS Saudi Arabia’s King Salman bin ... More »
A Saudi soldier was killed and two members of the security forces wounded when an explosive device went off during a patrol in the Kingdom’s eastern Qatif province, the Interior Ministry said on Monday. More »
A Saudi money exchanger counts Saudi riyals in Riyadh August 4, 2008. REUTERS/Fahad Shadeed The Saudi Arabian central bank’s foreign assets fell in April as the government borrowed heavily abroad, according to official data that suggested Riyadh was bringing m... More »
Saudi Arabia will impose a special tax on tobacco and sugary drinks on June 10, as part of a series of steps towards closing a budget deficit caused by low oil prices. More »
U.S. President Donald Trump places his hands on a glowing orb as he tours with other leaders the Global Center for Combatting Extremist Ideology in Riyadh, Saudi Arabia May 21, 2017. Saudi TV via Reuters Images of U.S. President Donald Trump placing his hands ... More »
Saudi Arabia’s Energy Minister Khalid al-Falih (L) and Russia’s Energy Minister Alexander Novak attend a joint briefing in Beijing, China May 15, 2017. REUTERS/Aly Song Saudi Arabia and Russia, the world’s two top oil producers, agreed on Monday to extend oil ... More »
Saudi security forces shot dead a wanted man in eastern Saudi Arabia on Wednesday, a local newspaper reported, after gunmen tried to stop redevelopment work at the old quarter of Awamiya, where authorities say Shi’ite militants are hiding. More »
FILE PHOTO: A Saudi Aramco employee sits near the Saudi Aramco stand at the Middle East Petrotech 2016 in Manama, Bahrain, September 27, 2016. REUTERS/Hamad I Mohammed/File Photo Saudi Arabia is having “serious discussions” with the New York Stock Exchange abo... More »
Shaybah oilfield complex is seen at night in the Rub’ al-Khali desert, Saudi Arabia, November 14, 2007. REUTERS/ Ali Jarekji/File Photo Saudi Arabia’s crude exports to the United States in March will fall by around 300,000 barrels per day from February, in lin... More »
U.S. President Donald Trump and Saudi Deputy Crown Prince and Minister of Defense Mohammed bin Salman meet at the White House in Washington, U.S., March 14, 2017. REUTERS/Kevin Lamarque Saudi Arabia hailed a “historical turning point” in U.S.-Saudi relations a... More »
Saudi Arabia’s King Salman (C) walks with Indonesia President Joko Widodo as he arrives at Halim Perdanakusuma airport in Jakarta, Indonesia March 1, 2017. REUTERS/Beawiharta Saudi Arabia’s King Salman on Wednesday landed at a military airbase in the capital o... More »
A man tried to set himself alight with gasoline beside the Kaaba, the black-clad building towards which the world’s Muslims face to pray, inside Mecca’s Grand Mosque late on Monday but was arrested before he could do so, police in Saudi Arabia said. More »
U.S. President Donald Trump, joined by his senior advisor and son-in-law Jared Kushner (R), speaks by phone with the Saudi Arabia’s King Salman in the Oval Office at the White House in Washington, U.S. January 29, 2017. REUTERS/Jonathan Ernst Saudi Arabia’s Ki... More »
Oil tanks seen at the Saudi Aramco headquarters during a media tour at Damam city November 11, 2007. REUTERS/ Ali Jarekji/File Photo The first independent audit of Saudi Aramco’s [IPO-ARMO.SE] oil reserves has confirmed the state oil company’s own figures, sou... More »
The Saudi Arabian central bank hopes interbank money rates SAIBOR= continue to fall, central bank governor Ahmed al-Kholifey told a news conference on Monday. More »
A man walks past the Kingdom Centre Tower in Riyadh, Saudi Arabia April 12, 2016. REUTERS/Faisal Al Nasser/File Photo Saudi Arabia has avoided an economic crisis due to low oil prices this year but the outlook for state finances and growth will remain murky fo... More »
Saudi Arabia’s Energy Minister Khalid al-Falih talks during the 23rd World Energy Congress in Istanbul, Turkey, October 10, 2016. REUTERS/Murad Sezer Saudi Arabia’s Energy Minister Khalid al-Falih will not attend meetings on Wednesday between OPEC and non-OPEC... More »
RIYADH The Saudi Olympic Committee has approved four female Saudi athletes to compete as part of the conservative Gulf kingdom’s team at the Rio Olympics, a spokesman said on Sunday. Sara Al-Attar, Lubna Al-Omair, Cariman Abu Al-Jadail and Wujud Fahmi will bec... More »
DUBAI Growth in Saudi Arabia’s non-oil gross domestic product is expected to slow to 2.8 percent in 2016 from 3.4 percent in 2015, Saudi central bank governor Ahmed al-Kholifey told state television station Ekhbariya. Kholifey, speaking in an interview broadca... More »
DUBAI Saudi Arabia aims to create the world’s biggest sovereign wealth fund, a $2 trillion behemoth that can throw its weight around global markets, but the fund’s growth abroad is likely to be slowed by its responsibility for aiding the economy at home. Build... More »
DHAHRAN, Saudi Arabia Saudi Arabia’s state-owned oil giant Aramco is seeking to expand globally via joint ventures overseas as it prepares for a partial privatization pushed by a government intent on diversifying the economy. The company is looking at opportun... More »
DHAHRAN, Saudi Arabia Saudi Aramco’s oil production is trending slightly upwards in 2016 because of growth in demand, chief executive Amin Nasser said on Tuesday. The company will expand its capacity in future if that is needed, but for the time being its maxi... More »
DHAHRAN Saudi Aramco is in the final stages of preparing options for its initial public offer of shares before presenting the options soon to its Supreme Council for consideration, chief executive Amin Nasser said on Tuesday. Aramco has a huge team working on ... More »
DHAHRAN, Saudi Arabia State oil company Saudi Aramco wants to expand globally and is looking at potential joint ventures in several countries, including Indonesia, India, the United States, Vietnam and China, chief executive Amin Nasser said on Tuesday. “We ar... More »
BEIRUT The Saudi-owned television news channel Al Arabiya shut its offices in Lebanon and dismissed 27 employees, two of its journalists said on Friday, in a sudden move that comes amid political tensions between Riyadh and Beirut. Protesters also attacked the... More »
RIYADH Saudi Arabia’s plans for economic reform foresee winding down ‘jobs for life’ in an inefficient state bureaucracy and replacing them with new careers in a dynamic private sector. That’s the theory, at least. But in the short term, there is a problem: 20... More »
DUBAI Saudi Arabia’s government has asked banks to submit proposals to extend it a five-year, U.S. dollar loan of between $6 billion and $8 billion, with an option to increase the size, sources familiar with the matter told Reuters on Wednesday. Earlier this m... More »
DUBAI Iran took steps on Monday to try to limit the diplomatic damage from an attack on Saudi Arabia’s embassy in Tehran by an angry mob, laying blame on a top security official and saying some of those who carried out the attack were being interrogated. Irani... More »
WASHINGTON Saudi Arabia is satisfied with assurances from U.S. President Barack Obama about the Iran nuclear deal and believes the agreement will contribute to security and stability in the Middle East, a senior Saudi official said on Friday. Saudi King Salman... More »
