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SAUDI ARABIA (KSA)

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Saudi banks start feeling tremors of global meltdown (SAUDI ARABIA (KSA))

Sunday 7 December 2008 by Dubai

Saudi Arabia’s banking sector, one of the largest in the Middle East, has started to feel the pinch of the global financial crisis with a decline in its performance in the third quarter for the first time in 2008. After surging by 29.1 and 8.3 per cent in the second and first quarters of this (...) > continue

Saudi Arabia set to keep spending high (SAUDI ARABIA (KSA))

Monday 1 December 2008 by Dubai

Saudi Arabia is expected to approve higher expenditure for 2009 when it unveils its state budget just before the end of this year despite the recent plunge in oil prices, experts said yesterday. But the world’s dominant oil power will again assume a conservative price for its oil as it had done (...) > continue

Saudi trims rate by 100 basis points (SAUDI ARABIA (KSA))

Monday 24 November 2008 by Dubai

RIYADH: Saudi Arabia’s central bank slashed its benchmark lending rate by 100 basis points yesterday, the second reduction in a month to keep credit markets moving and boost domestic liquidity after inflation receded. The Saudi Arabian Monetary Agency (Sama) reduced the repo rate to three per (...) > continue

Saudi telecommunications grows with a CAGR of 7.1% (SAUDI ARABIA (KSA))

Thursday 13 November 2008 by Dubai

A ’pro-competition’ regulator, high population growth and attractive demographics would be the key drivers of the Saudi telecoms sector, resulting in a compound annual growth rate (CAGR) of 7.1 per cent, a Dubai-based investment bank has said in its new report. Al Mal capital in its recent (...) > continue

Saudi Arabia says need for balance on oil markets (SAUDI ARABIA (KSA))

Tuesday 28 October 2008 by Dubai

Saudi Arabia, the world’s top oil exporter, said there was a need to achieve balance and stability on the oil markets to guarantee continuous investment in the sector, the state news agency SPA reported. Saudi Arabia "emphasised the need to achieve balance in the oil market" and is keen on "the (...) > continue

Saudi Arabia to provide easy loans to citizens (SAUDI ARABIA (KSA))

Monday 27 October 2008 by Dubai

Saudi Arabia plans to extend 10 billion riyals ($2.7 billion) in credit to low-income citizens as Gulf Arab oil-producers step up efforts to contain the fallout from the global financial crisis. Saudi King Abdullah bin Abdulaziz ordered that the additional funds be deposited in the Saudi (...) > continue

Saudi group in $2bn hotel deal with Starwood (SAUDI ARABIA (KSA))

Sunday 26 October 2008 by Dubai

Saudi-owned MBI International will sign an agreement to buy 12 hotels in France from Starwood Capital in deal that could be worth $2 billion, a Saudi newspaper reported on Sunday. The deal will include Le Crillon Hotel in Paris and 11 other establishments, Asharq Al Awsat reported, quoting (...) > continue

Saudi Arabia’s benchmark index slumps 8.7% (SAUDI ARABIA (KSA))

Sunday 26 October 2008 by Dubai

Dubai: Saudi Arabian stocks fell sharply on Saturday, tracking a slump in world markets, as investors worried that an oil price plunge and possible global recession would hit the growth of firms in the world’s top oil exporter. The benchmark of the largest Arab bourse closed 8.7 per cent lower (...) > continue

Saudi Aramco likely to seek higher prices for jet fuel (SAUDI ARABIA (KSA))

Friday 24 October 2008 by Dubai

SINGAPORE: Saudi Aramco will kick off term jet fuel negotiations with trading firms in mid-November, and is likely to seek higher prices despite a global slowdown, traders said yesterday. Aramco may ask for higher term prices compared with the current year’s supply contract, on expectations of (...) > continue