BREAKING NEWS|Saudi King Earmarks $2.4 Billion To Pay Private – Sector Workers: State News Agency

RIYADH | SAUDI ARABIA -  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. The latest measure to tackle the fallout from the coronavirus … Continue reading BREAKING NEWS|Saudi King Earmarks $2.4 Billion To Pay Private – Sector Workers: State News Agency

BUSINESS | Saudi Says No Talks With Russia Over More OPEC+ countries or joint pact

RIYADH | SAUDI ARABIA – A Saudi Arabia energy ministry official said on Friday there had been no contact between the Saudi and Russian energy ministers over any increase in the number of OPEC+  countries, nor any discussion of a joint agreement to balance oil markets. The comments come after a senior Russian official said … Continue reading BUSINESS | Saudi Says No Talks With Russia Over More OPEC+ countries or joint pact

ECONOMY & BUSINESS | Saudi Arabia Implements Urgent Measures To Mitigate Impact Of Coronavirus On Economy

RIYADH | SAUDI ARABIA - The Saudi government is moving decisively to address the unprecedented effects and consequences of the COVID-19 , Saudi Minister of Finance, Acting Minister of Economy and Planning, Mohammed bin Abdullah Al-Jadaan, has said. "The Kingdom is taking immediate measures to ensure the safety of its citizens and residents, and to … Continue reading ECONOMY & BUSINESS | Saudi Arabia Implements Urgent Measures To Mitigate Impact Of Coronavirus On Economy

BUSINESS | Saudi Arabia To Cut 5% Of 2020 Budget To Flight Effects Of Coronavirus Pandemic

RIYADH – Saudi Arabia is to cut SAR50 billion ($13.32 billion) from this year’s budget in light of the negative impact of the coronavirus pandemic on public finances in the Kingdom. The cut is worth less than percent of the 2020 budget and will be in areas that have the least social and economic impact, … Continue reading BUSINESS | Saudi Arabia To Cut 5% Of 2020 Budget To Flight Effects Of Coronavirus Pandemic

BREAKING NEWS | Saudi Central Bank To Intervene If Liquidity Affected – Governor To Al Arabiya

RIYADH - Saudi Arabia’s central bank will intervene to support the kingdom’s economy ifliquidity is tight or credit is affected, its governor told state-owned Al Arabiya TV on Sunday, reiterating the commitment to the riyal’s peg to the dollar. “The challenges are the coronavirus and the lower oil price globally, but we are monitoring liquidity … Continue reading BREAKING NEWS | Saudi Central Bank To Intervene If Liquidity Affected – Governor To Al Arabiya

BUSINESS | Saudi Aramco To Cut Capital Spending In 2020, Posts Drop 2019 Profit

RIYADH  - Saudi Aramco (2222.SE) on Sunday said it plans to cut capital spending in the wake of the coronavirus outbreak, as it posted a 21% decline in 2019 net profit due to a drop in oil prices and production, its first earnings announcement as a listed company. The world’s most profitable company and by … Continue reading BUSINESS | Saudi Aramco To Cut Capital Spending In 2020, Posts Drop 2019 Profit

BREAKING NEWS | Saudi Crown Prince Holds Talks With Morgan Stanley Chief

RIYADH | SAUDI ARABIA – Crown Prince Mohammed Bin Salman Bin Abdulaziz Al Saud, Deputy Prime Minister and Minister of Defense, held talks in Riyadh on Tuesday with CEO of Morgan Stanley James Gorman, reported the Saudi Press Agency. Talks focused on Promising banking and investment opportunities in line with the Kingdom’s Vision 2030. They … Continue reading BREAKING NEWS | Saudi Crown Prince Holds Talks With Morgan Stanley Chief