BUSINESS

NEWS ALERT | Kuwait’s Emir Congratulates Saudi Arabia On Success of the G20 Summit.

Kuwait’s Emir Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah has congratulated Custodian of the Two Holy Mosques King Salman on the success of G20 Leader’ Summit presided over by Saudi Arabia. Sheikh commended the summit’s distinguished organization that contributed to reaching constructive decision and fruitful recommendations, especially with regard to strengthening international cooperation to confront the coronavirus … Continue reading NEWS ALERT | Kuwait’s Emir Congratulates Saudi Arabia On Success of the G20 Summit.

BREAKING NEWS | Saudi Arabia’s Crown Prince Discusses Latest Middle East Development with US’ Pompeo

Saudi Arabia’s Crown Prince Mohammed bin Salman discussed the latest developments in the Middle East with US Secretary of State Mike Pompeo. The Crown Prince met Pompeo in NEOM, the planned smart megacity on the Red Sea in northwestern Saudi Arabia. During the meeting, they reviewed friendship ties, areas of bilateral cooperation and ways to … Continue reading BREAKING NEWS | Saudi Arabia’s Crown Prince Discusses Latest Middle East Development with US’ Pompeo

BREAKING NEWS | Saudi Crown Prince at G20 Summit: ‘Our Strength Lies In Our Unity’

Saudi Crown Prince Mohammed Bin Salman said Sunday that in the light of the coronavirus outbreak, cooperation among G20 countries has been important more than ever. ‘In light of the outbreak of Covid-19 and its health, economic, and social repercurssion, our cooperation has been important more than ever. Together we have addressed this challenge with … Continue reading BREAKING NEWS | Saudi Crown Prince at G20 Summit: ‘Our Strength Lies In Our Unity’

BUSINESS | Saudi Arabia Makes Four New Oil, Gas Discoveries: Energy Minister

RIYADH – – Saudi Aramco has discovered four new oil and gas fields in Saudi Arabia, the Minister of Energy Prince Abdulaziz bin Salman announced on Sunday, according to Saudi Press Agency (SPA). Non-conventional oil was discovered in the al – Reesh oil field, north – west of the Dhahran. The city, a major administrative … Continue reading BUSINESS | Saudi Arabia Makes Four New Oil, Gas Discoveries: Energy Minister

BREAKING NEWS | Saudi Crown Prince Discusses OPEC+ Agreements With Vladimir Putin

RIYADH | SAUDI ARABIA  – Saudi Arabia’s Crown Prince Mohammed Bin Salman discussed with Russian President Vladimir Putin energy markets and the implementation of agreements by the oil producers group known as OPEC+ on Saturday. ‘Both sides have reiterated their willingness to continue close coordination in this area in order to maintain stability on the … Continue reading BREAKING NEWS | Saudi Crown Prince Discusses OPEC+ Agreements With Vladimir Putin

GLOBAL ECONOMY | G20 Suspends poorer nations’ debt payment for 6 more months

RIYADH | SAUDI ARABIA – Financial leaders of the world’s biggest economies claimed a ‘historic achievement’ in reaching a framework to deal with heavily indebted poorer countries, which have been severely impacted by the coronavirus pandemic. The finance ministers and central governors of the G20 nations agreed at a virtual meeting organized by the Saudi … Continue reading GLOBAL ECONOMY | G20 Suspends poorer nations’ debt payment for 6 more months

ECONOMY | Saudi Sovereign Wealth Fund Hires New Corporate Finance Head, Makes Other Changes

RIYADH – – Saudi Arabia’s sovereign wealth fund has hired Fahad al – Saif, the chief executive of the finance  ministry’s debt management centre, as its new corporate finance head. He replaces Alireza Zaimi, who will become a special advisor to the fund’s  governor Yasir al – Rumayyan, the Public Investment FUND (PIF) said in … Continue reading ECONOMY | Saudi Sovereign Wealth Fund Hires New Corporate Finance Head, Makes Other Changes

BREAKING NEWS | Saudis Tells U.N. That Houthis To Blame For Aramco Attack

NEW YORK – Saudi Arabia told the U.N. Security Council that Yemen’s Houthi group were to blame for a missile attack on a petroleum products distribution plant in Jeddah in Monday, urging the 15-member body to ‘stop the threat’ to global energy security, Yemen’s political process and regional security. ‘It has been identified that the … Continue reading BREAKING NEWS | Saudis Tells U.N. That Houthis To Blame For Aramco Attack

Loading…

Something went wrong. Please refresh the page and/or try again.

BREAKING NEWS | Saudi Crown Prince Announces New 5-Year Strategy For Kingdom’s Economy

JEDDAH – – Saudi Crown Prince Mohammed bin Salman on Sunday launched a new five – year strategy for the Kingdom’s sovereign wealth fund as Saudi Arabia drives toward achieving its Vision 2030 goal to diversify the economy away from dependence on oil. The Public Investment Fund (PIF) will pump at least $40 billion a … Continue reading BREAKING NEWS | Saudi Crown Prince Announces New 5-Year Strategy For Kingdom’s Economy

Loading…

Something went wrong. Please refresh the page and/or try again.

GLOBAL ECONOMY

BREAKING NEWS | Trump, Saudi Crown Prince Discuss Economic Recovery From Coronavirus: White House

WASHINGTON – U.S. President Donald Trump and Saudi Arabian Crown Prince Mohammed bin Salman Bin Abdulaziz Al Saud discussed the fight against the coronavirus pandemic and ‘re-energizing global economies’ during a telephone call on Thursday, the White House said. The two leaders also discussed regional and bilateral issues and the prince ‘reaffirmed the strong United … Continue reading BREAKING NEWS | Trump, Saudi Crown Prince Discuss Economic Recovery From Coronavirus: White House

BUSINESS | Morgan Stanley CEO: Too Early To Consider Restarting Share Buybacks

NEW YORK  – Morgan Stanley’s Chief Executive Officer James Gorman told shareholders on Thursday that is to too early for him or anyone on the board of directors to consider reinstating the bank’s share buyback program. Morgan Stanley, along with JPMorgan Chase & Co, Bank of America and five others, voluntarily suspended their share repurchases … Continue reading BUSINESS | Morgan Stanley CEO: Too Early To Consider Restarting Share Buybacks

BUSINESS NEWS | Saudi Arabia Russia, U.S. Welcome Outcome Of OPEC+ Meeting: SPA

RIYADH | SAUDI ARABIA – Saudi Arabia’s King Salman, Russia’s president Vladimir Putin and his U.S. counterpart Donald Trump welcomed the outcome of OPEC+ meeting during a joint phone, Saudi state news agency SPA said on late Sunday. The three leaders expressed their comfort with the results of the efforts exerted to stabilize global oil … Continue reading BUSINESS NEWS | Saudi Arabia Russia, U.S. Welcome Outcome Of OPEC+ Meeting: SPA

BUSINESS NEWS | Saudi, Other Resist Mexican Plan To Make Small Oil Output Cuts – Sources

BUCHAREST | ROMANIA – Saudi Arabia and Other Oil Producers in the OPEC+ group pushed back on Friday on a Mexican plan to cut less than requested under plans for global supply curbs, two sources from the OPEC+ group said on Friday. One source said the dispute, which help up efforts to finalise the deal … Continue reading BUSINESS NEWS | Saudi, Other Resist Mexican Plan To Make Small Oil Output Cuts – Sources

BUSINESS NEWS | Saudi Energy Minister Calls For Affordable Energy Supply At G20 Meeting

RIYADH | SAUDI ARABIA – The Saudi energy minister gold a conference of the G20 group of the world’s largest economies on Friday that Ensuring affordable energy supply is key to facilitating a global economic recovery. ‘Having affordable, reliable, accessible energy supply is considered a necessity to enable basic services, including health care, and help … Continue reading BUSINESS NEWS | Saudi Energy Minister Calls For Affordable Energy Supply At G20 Meeting

BUSINES NEWS | OPEC+ Works On Two-Year Oil Cut Deal, Implemented Gradually: Sources

LONDON – OPEC and its allies, a group known as OPEC+, are discussing plans to cut oil production for at least two years with reductions implemented gradually, two OPEC+ sources said on Thursday. The group has previously said it wanted the United States, one the top three oil producers alongside Russia and Saudi Arabia, to … Continue reading BUSINES NEWS | OPEC+ Works On Two-Year Oil Cut Deal, Implemented Gradually: Sources

Loading…

Something went wrong. Please refresh the page and/or try again.

Saudi Arabia’s FII: World Leaders To Discuss Building A Strong Economy Post – Pandemic

MILAN – – World Leaders, former presidents, CEOs and heads of economy will be among those converging for Saudi Arabia’s fourth annual Future Investment Initiative (FII) Conference this week. Discussion about the future of global economies in a post – pandemic world are on the agenda. The event will feature over 140 speakers and will officially be opened … Continue reading Saudi Arabia’s FII: World Leaders To Discuss Building A Strong Economy Post – Pandemic

BUSINESS | UAE Confirms It Inked $23 Billion To Buy F-35 Jets, Drones From U.S.

WASHINGTON – – The United Arab Emirates confirmed that it signed agreements with the United States on former President Donald Trump’s last full day in office to purchase up to 50 F-35 jets, 18 armed drones and other defense equipment in a deal worth $23 billion. The UAE embassy in Washington said in a statement … Continue reading BUSINESS | UAE Confirms It Inked $23 Billion To Buy F-35 Jets, Drones From U.S.

Business News | BioNTech Investors, Amid Worry Over Shortage, Vows Vaccines To Be Delivered For Second Shot

MILAN – European countries should use all available vaccine doses provided by biotech firm BioNTech and its partner Pfizer because there will be enough for the requisite second booster shot due to a planned production ramp – up, BioNTech’s largest investor said. Some countries were believed to be withholding some vaccines for fear of shortage … Continue reading Business News | BioNTech Investors, Amid Worry Over Shortage, Vows Vaccines To Be Delivered For Second Shot

BUSINESS | Google Seals Content Payment Deal With French News Publishers

PARIS – – Google and a French publishers’ lobby said on Thursday they had agreed to a copyright framework for the U.S. tech giant to pay news publishers for content online, in a first for Europe.The move paves the way for individual licensing agreements for French publications, some of which have seen revenues drop with … Continue reading BUSINESS | Google Seals Content Payment Deal With French News Publishers

OIL BUSINESS

ECONOMY | Saudi Aramco Plans Debt Market Comeback With Multi – Tranche Bond Deal

Saudi Aramco said on Monday it had hired banks for a multi – tranche U.S. dollar – denominated bond issuance, as the world’s largest oil company seeks cash amid lower oil prices. Gulf issuers have shown no sign of slowing this year’s blitz of issues on international debt markets as they work to plug issues … Continue reading ECONOMY | Saudi Aramco Plans Debt Market Comeback With Multi – Tranche Bond Deal

BREAKING NEWS | Kremlin Says Russia, Saudi Arabia Are At Important Part Of Oil Talks

MOSCOW – Russia and Saudi Arabia are at an important part of oil talks and recent flurry of phone calls between the leaders of the energy – rich countries are aiming at stabilizing the oil markets, the Kremlin said on Monday. Russian President Vladimir Putin and Saudi Arabia Crown Prince Mohammed bin Salman held two … Continue reading BREAKING NEWS | Kremlin Says Russia, Saudi Arabia Are At Important Part Of Oil Talks

Saudi Arabia’s Crown Prince, Russia Putin Discuss Global Oil Markets

Saudi Arabia’s Crown Prince Mohammed Bin Salman held a phone call with Russian President Vladimir Putin on Tuesday. During the call, they reviewed world oil markets, and the efforts made to achieve and maintain stability, support the growth of the global economy, Saudi Press Agency reported. They also agreed on the importance of all oil-producing … Continue reading Saudi Arabia’s Crown Prince, Russia Putin Discuss Global Oil Markets

BUSINESS | Saudi Arabia’s July Crude Exports Tick Up From Historic Lows – JODI

MILAN | ITALY – Saudi Arabia’s crude oil exports bounced back to 5.73 million barrels per day (bpd) in July from 4.98 million bpd in June, official data showed on Thursday. June’s exports were the weakest recorded in data stretching back to 2002. Monthly export figures are provided by Riyadh and other members of the … Continue reading BUSINESS | Saudi Arabia’s July Crude Exports Tick Up From Historic Lows – JODI

BREAKING NEWS | Saudi Crown Prince, Iraqi PM Discuss OPEC+ Oil Cut Pact: SPA

RIYADH | SAUDI ARABIA – Saudi Arabia’s Crown Prince Mohammed bin Salman and Iraqi Prime Minister Mustafa al-Kadhini discussed efforts taken to stabilize and rebalance global oil markets in a telephone call, Saudi state news agency SPA reported late on Wednesday. The two leaders ‘stressed the importance of compliance, by all participants, to the OPEC+ … Continue reading BREAKING NEWS | Saudi Crown Prince, Iraqi PM Discuss OPEC+ Oil Cut Pact: SPA

BREAKING NEWS | Saudi King Salman, Nigerian President Discuss Oil Market: SPA

RIYADH | SAUDI ARABIA – Saudi Arabia’s King Salman bin Abdulaziz and Nogerian President Muhammadu Buhari discussed efforts taken to stabilize and rebalance global oil markets in a telephone call, Saudi state news agency SPA reported on Wednesday. The two leaders ‘stressed the importance of compliance, by all participants, to the OPEC+ agreement and the … Continue reading BREAKING NEWS | Saudi King Salman, Nigerian President Discuss Oil Market: SPA

NEWS ALERT | G20 Pledges More Than $21 Billion To Fight Coronavirus

NEW YORK | The Group of 20 rich and emerging economies had pledged more than $21 billion to fight the coronavirus, the group said early on Saturday. ‘The G20, with invited countries, has coordinated the global efforts to support the fight against the COVID-19 pandemic. To date, G20 members and invited countries have pledged over … Continue reading NEWS ALERT | G20 Pledges More Than $21 Billion To Fight Coronavirus

CORONAVIRUS | Pope Says Coronavirus Vaccine Must Be Shared World Wide

MILAN | ITALY – Pope Francis called on Sunday for international scientific cooperation to discover a vaccine for the coronavirus and said any successful vaccine should be made available around the world. Francis, who has been delivering his Sunday address from the papal library instead of St.Peter’s Square because of the lockdown in Italy, thanked … Continue reading CORONAVIRUS | Pope Says Coronavirus Vaccine Must Be Shared World Wide

SPORTS | Gigi Hadid and Serena Williams Will Play In A Virtual Charity Tennis Match This Weekend

The tournament, organized by IMG, will see tennis champions facing off in the Nitendo Switch video game against models, athletes, and celebrities as Mario characters. In addition to Hadid versus Williams, the competition will also feture Haily Bieber and Naomi Osaka; Karlie Kloss and Maria Sharapova and more. Gameplay will begin at 4 p.m. EDT … Continue reading SPORTS | Gigi Hadid and Serena Williams Will Play In A Virtual Charity Tennis Match This Weekend

G20| Saudi G20 Presidency Urges More Donation To fund Pandemic Response

RIYADH | SAUDI ARABIA – The Saudi presidency of the Group of 20 major economies on Thursday called for further immediate donations to fund the emergency response to the coronavirus pandemic and develop needed vaccines. The G20 secretariat said $1.9 billion had been donated by countries, philanthropic organizations and the private sectors toward an $8 … Continue reading G20| Saudi G20 Presidency Urges More Donation To fund Pandemic Response

GLOBAL FIGHT AGAINST COVID-19 | Saudi Arabia Sets Up $10 Million Esports Charity Tournament For Gamers

RIYADH | SAUDI ARABIA –  Saudi Arabia has set up a new charity esports event to raise money to fight the coronavirus pandemic with a $10 million prize fund. Gamers will be able to compete for their chance to decide where the prize money goes in the tournament, known as Gamers Without Borders by Saudi, … Continue reading GLOBAL FIGHT AGAINST COVID-19 | Saudi Arabia Sets Up $10 Million Esports Charity Tournament For Gamers

G20 | Saudi Arabia Pledges $500 Million To Global Fight Against Coronavirus

RIYADH | SAUDI ARABIA – Saudi Arabia, as the holder of the G20 Presidency, has pledged $500 million to international organizations to support global efforts in combatting the COVID-19 pandemic. ‘The pledge will support emergency and preparedness response, developing and deploying new diagnostics, therapeutics and vaccines, fulfilling unmet needs for international surveillance and coordination, and … Continue reading G20 | Saudi Arabia Pledges $500 Million To Global Fight Against Coronavirus

MENA BUSINESS

BREAKING NEWS | Saudi Crown Prince: We Will Continue To Grow In Various Fields

NEOM – – Saudi Arabia’s Crown Prince Mohammed bin Salman bin Abdulaziz, Deputy Prime Minister, Minister of Defense and Chairman of the Council of Economic and Development Affairs, affirmed that the Kingdom will continue to consolidate the gains made since the approval of the Vision 2030, and stressed its keenness to move towards further development … Continue reading BREAKING NEWS | Saudi Crown Prince: We Will Continue To Grow In Various Fields

ECONOMY | Saudi November Inflation At 5.8 Y/Y On Higher Food Prices

RIYADH – – Saudi Arabia’s consumer price index increased by 5.8% in November compared with the same month last year, official data showed on Tuesday, while remaining the same as October’s rate. The world’s largest oil exporter is facing a steep economic contraction this year amid low oil price, while coronavirus – induces restrictions curbed … Continue reading ECONOMY | Saudi November Inflation At 5.8 Y/Y On Higher Food Prices

BREAKING NEWS | Saudi Budget 2021: Revenues Estimated At 849 Billion Riyals, Spending At 990 Billion Riyals

RIYADH – – Saudi Arabia has announced its budget for 2021, with revenues estimated at 849 billion riyals for the coming year. Saudi Arabia’s King Salman confirmed that approved expenditures in the Kingdom’s budget for 2021 will amount at 990 billion riyals, and an estimated deficit of 141 billion riyals, representing 49 percent of the … Continue reading BREAKING NEWS | Saudi Budget 2021: Revenues Estimated At 849 Billion Riyals, Spending At 990 Billion Riyals

BREAKING NEWS | Saudi Crown Prince: Kingdom’s Economy Proves Ability To Face COVID-19 Repercussions

RIYADH – – Saudi Arabia’s economy has proven its ability to face the repercussions of the coronavirus pandemic, Crown Prince Mohammed bin Salman said following the announcement of the Kingdom’s budget for 2021. ‘Financial and economic measures have been taken at reducing the repercussions of the pandemic on economic activities. The crisis was managed with … Continue reading BREAKING NEWS | Saudi Crown Prince: Kingdom’s Economy Proves Ability To Face COVID-19 Repercussions

ECONOMY | Saudi Arabia To Issue Executive Regulations On Labor Reform Initiative Soon: Ministry Official

The Minister of Human Resources and Social Development will issue soon the executive regulations of the Labor Reform Initiative (LRI), Sattam Alharbi, Deputy Minister for Inspection and development of work environment, was cited by Saudi Press Agency as saying. The initiative, which falls under the Kingdom’s National Transformation Program, was launched by the ministry last … Continue reading ECONOMY | Saudi Arabia To Issue Executive Regulations On Labor Reform Initiative Soon: Ministry Official

ECONOMY | Saudi Arabia Could Review VAT Hike After Pandemic Ends, Says Minister

Saudi Arabia’s acting information minister on Thursday said the kingdom could review its VAT increase after the novel coronavirus pandemic ends, a move which may spur economic recovery after the tax increase boosted inflammation. Saudi Arabia tripled value – added tax to 15 percent in July to offset the impact of lower oil revenue on … Continue reading ECONOMY | Saudi Arabia Could Review VAT Hike After Pandemic Ends, Says Minister

ECONOMY | Aramco Extended $8 Billion Revolving Loans This Year: Bond

JEDDAH – – Saudi Aramco this year extended the maturity of two revolving credit facilities it took in 2015, meaning those loans worth a total of $8 billion will be available through March 2022, a bond prospectus showed. Aramco said on Monday it plans to issue multi-tranche U.S. dollar-denominate bonds, as the world’s largest oil … Continue reading ECONOMY | Aramco Extended $8 Billion Revolving Loans This Year: Bond

NEWS ALERT | UAE Widens 10-Year Residency ‘Golden’ Visa Eligibility

DUBAI – The United Arab Emirates will extend its ‘golden’ visa system-which grants 10-year residency in the Gulf state- to certain professionals, specialized degree-holders and others, the UAE’s vice president said on Sunday. Foreigners in the UAE usually have renewable visas valid for only a few years tied to employment. The government in the past … Continue reading NEWS ALERT | UAE Widens 10-Year Residency ‘Golden’ Visa Eligibility

BREAKING NEWS | Mohammed Bin Salman: Saudi Arabia Has Made Unprecedented Achievements In Short Period Of Time

Saudi Crown Prince Mohammed bin Salman said on Thursday that the Kingdom has been able to make unprecedented achievements in a short period of time. He expressed optimism that growth will accelerate after the coronavirus pandemic comes to an end. In a speech carried by Saudi State News Agency (SPA), the Crown Prince said that … Continue reading BREAKING NEWS | Mohammed Bin Salman: Saudi Arabia Has Made Unprecedented Achievements In Short Period Of Time

ECONOMY | Saudi Commerce Ministry Granted European Certificate

MILAN | SAUDI ARABI A – – The Saudi Commerce Ministry has become the first government agency to receive the European ‘Recognized for Excellence 4 Stars’ certificate. The CEO of the European Foundation for Quality Management (EFQM), Russel Longmuir, said during a virtual meeting with Saudi Commerce Minister Majid Al-Qasabi that among the 50,000 government … Continue reading ECONOMY | Saudi Commerce Ministry Granted European Certificate

ECONOMY | Saudi Ministry Clarifies After Report On Pending Decision To Abolish Kafala System

RIYADH | SAUDI ARABIA – – Saudi Arabia’s Ministry of Human Resources and Social Development said it is working on ‘many initiatives’ to develop the labor market and that decision will be announced when they are ready following a report that the Kingdom was working to abolish the Kafala system. ‘In reference to what has … Continue reading ECONOMY | Saudi Ministry Clarifies After Report On Pending Decision To Abolish Kafala System