Key producers of OPEC+ countries have reached a preliminary deal on gradualy oil output until December and extension of their pact until end of 2022, an OPEC+ source told Reuters on Sunday. OPEC+ hold an online meeting later on Sunday.
Saudi Arabia said on Wednesday that global airlines industry body IATA had agreed to open a regional headquarters in Riyadh but the industry’s main trade association denied it woul be a regional base in the latest evidence of sensitivities over the status of foreign business representation in the kingdom. The General Authority of Civil Aviation … More Airline Body IATA To Open Saudi Office But Denies It Will Be Regional HQ
Saudi Arabia’s non – oil private sector continued to expand in June at a fast rate and job creation rose to a 19 – month high, a survey showed, as the largest Arab economy recovers from the coronavirus crisis. The seasonally adjusted IHS Markit Saudi Arabia Purchasing Manager’s Index (PMI) stood at 56.4 in June, … More Saudi Non – Oil Sector Employment Rises Amid Steady Growth
Saudi Arabia’s Capital Market Authority said on Wednesday it has approved an initial public offering of an 11.1 stake in ACWA Power, a listing that has been expected for years. ACWA Power, which delayed IPO plans in 2018, leads a consortium that will build and operate renewable power – based utilities at Saudi Arabia’s flagship … More Saudi Regulator Gives Green Light For ACWA Power IPO
Saudi Arabia’s Crown Prince Mohammed bin Salman has launched the National Transport Transport and Logistics Strategy, which aims to upgrade all services and means of transport, according to Saudi Press Agency SPA. The Crown Prince added that the strategy would enable Saudi Arabia to invest its geographical position in the middle of the three continents in diversifying its … More Saudi Arabia’s Crown Prince Launches National Transport And Logistics Strategy
The United Arab Emirates has asked Italy to witdraw aircraft and personnel from a military base in the Gulf state by July 2, an Italian government source said on Monday, in what appeared to be fallout Rome halting the sale of missiles to the UAE. The source told Reuters negotiations were ongoing to try to … More UAE Sets Deadline For Italy To Vacate Airbase, Italian Government Source Says
Qatar’s Ahli Bank is seeking to raise up to $500 million via an inssuance of five – year senior bonds, an investor presentation seen by Reuters showed on Monday. Barclays and QNB Capital are global coordinators for the issue, while JPMorgan Securities, Mizuho Securities and Standards Chartered will act as joint bookrunners alongside them, the … More Qatar’s Ahli Bank Seeks Up To $500 Million Via Bonds
Saudi Arabian veterinary services company MAS has signed an agreement with Argentine biotechnology company Biogenesis Bago to set up the country’s first animal vaccine manufacturing plant investments worth $60 million. The panned Riyadh – based plant, a 50 – 50 joint venture, will provide 400 job opprotunities by early 2025, with further job expansion expected … More Saudi – Argentine JV Plans $60 Mln Animal Vaccine Manufacturing Plant in Riyadh
Saudi Arabia’s Public Investment Fund (PIF) is considering divesting part of its stake in Saudi Telecom, sources close to the matter told Reuters, as the sovereign wealth fund seeks to monetise some of its assets. The fund, which holds $430 billion of assets, has hired Goldman Sachs and Saudi National Bank’s investment banking arm to … More Sovereign Fund PIF Considers Saudi Telecom Stake Sale, Sources Say
Saudi Arabia’s Crown Prince Mohammed bin Salman inaugurated eight housing projects as well as medical treatment for employees of the Ministry of Defense, the state news agency SPA reported on Sunday. The initiative is part of new development projects implemented and recently completed by the ministry at a cost of more than SR 4 billion … More Saudi Crown Prince Inaugurates $1Bn Housing And Medical Projects For Ministry Of Defense Employees
