The company did not disclose the value of the deal but other media reports valued it at $8.2 billion.
Saudi Arabia’s Capital Market Authority has indicated it does not want or expect large, sudden fund inflows
The deal could include 30 A320neo planes and up to 20 A330 aircraft, sources said
The government said that it will rethink quotas in some sectors which failed to attract citizens due to the nature of work involved
The region is holding its breath as Saudi Arabia finally opens up the Tadawul to foreign investors, but are the doors fully ajar?
Riyadh may soon have to face a choice: accept the de facto control of its foes over Sanaa and cut a deal, or keep fighting with the risk of Yemen sinking into total chaos.
The company officials said while Chinese oil demand was stabilizing, the highest growth was likely to come from India in the second half of this year.
The company aims to double the number of outlets in the UAE and Saudi Arabia in the next six to 12 months
A group of 33 pilgrims from Saudi was exposed to poison on Sunday while staying at a Mashhad hotel.
The regulator has been investigating Mobily after the firm slashed 18 months of previously announced profits.
Raif Badawi was sentenced to 1,000 lashes, a 10-year jail term and a fine of SAR 1 million last year.
More than 100 people, including civilians, were also wounded in the attack, according to reports.
The arrests come after the government declared a reward for helping nab the suspects in the mosque bombing case and for providing information about future attacks.
The government has allowed Shi’ites to set up community protection groups to search people entering mosques and checkpoints to monitor entrances to villages after the attacks.
EFG-Hermes says nearly a third of its $3 billion of assets under management is in Saudi Arabia, with $265 million managed by its Saudi unit.
Regulatory obstacles and uncertainty about the size of fund inflows are deterring foreign firms from undertaking any quick build-up in their staffing and office space in Riyadh.
About 11 new grounds were to be built as a means of growing the game in the kingdom but sources said only two will be built as state spending is hit by low oil prices.
The ministry also offered a $1.9 million reward for information that would avert any future attacks.
Bond issues are being considered after global oil prices plunged last year.
The Capital Markets Authority did not specify the reason for these stocks to be off-limits to foreign investors.
The kingdom’s foreign reserves fell to $683 billion in April, from $732 billion at the end of 2014, a new report shows.
Economic growth is expected to slow in 2016 as lower oil revenues hit state spending, the IMF said.
The comment indicates Saudi Arabia will likely propose not to change output policy at producer group OPEC’s meeting on Friday.
The top 10 biggest lenders in the Kingdom by 2014 total assets, taken from Gulf Business’ Top 50 GCC Banks list.
The market opening could lead to a flurry of foreign funds, paving way for more partnerships among local and international firms.
Kingdom Holding, owned by Prince Alwaleed Bin Talal, sold its stake in Four Seasons Resort Mauritius to Sun Resorts.
Friday’s blast killed four people and was the second attack claimed by the Sunni militant group in a week in Saudi Arabia.
ISIL claimed two suicide bombings carried out on May 22 and May 29 on Shi’ite mosques in eastern Saudi Arabia.
Opening Saudi Arabia’s Tadawul should just be the beginning, writes the founder and president of Nasser Saidi & Associates.
Assets dropped 6.8 per cent from a year earlier to their lowest level since May 2013, central bank data showed.