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Saudi Cable Co Signs $171m Debt Restructuring

The company is also holding talks with another bank about the possibility of restructuring a further SAR99.6 million of debt.

Saudi’s Mobily Says Board Recommends Not Paying Q1 Dividend

Mobily, which is under investigation by the bourse regulator, reported a first-quarter loss of SAR199 million ($53 million).

Chevron Saudi Unit Plans To Shut Joint Kuwait Oilfield In May

Chevron’s decision was mainly down to problems getting work permits from the Kuwaiti authorities for its expatriate staff, sources told Reuters

HSBC Barred From Taking New Funds In Saudi Arabia

HSBC Saudi Arabia needs to revamp its compliance procedures before CMA can reverse the ban, sources reportedly said.

Visiting Venezuelan Delegation To Meet Saudi Deputy Oil Minister -Source

The delegation will meet Prince Abdulaziz because Saudi oil minister Ali al-Naimi is out of the country on a business trip, a source said.

Saudi Aramco Board Visits South Korean Shipbuilder -Sources

Saudi Arabia has been supplying more crude to Asian markets and Saudi Aramco’s shipping arm has tendered to build 5 very large crude carriers (VLCCs).

Saudi Telco Mobily Swings To Q1 Net Loss, Misses Forecasts

Mobily, an affiliate of the United Arab Emirates’ Etisalat, made a net profit of SAR199 million in the first quarter of 2015.

Prince Alwaleed’s Kingdom Holding Posts 10.3% Q1 Net Profit Increase

Kingdom made a net profit of SAR139.4 million ($37.2 million) in the first quarter of 2015.

Saudi’s Sipchem Says Has Finished Testing New Plastics Plant

The Sipchem Chemicals Co plant will make up to 63,000 tonnes per year of polybutylene terephthalate (PBT) resin.

Saudi’s Tasnee To Cut Costs, Revise Contracts After Swinging To Loss

For the first quarter of 2015, Tasnee posted a net loss of SAR332.5 million ($88.7 million).

Saudi’s Sipchem Q1 Net Profit Up 17.3%, Misses Estimates

Sipchem attributed the increase in quarterly profit to higher production and sales and lower expenses.

Saudi Border Guard Killed In Yemen – Interior Ministry

Several members of Saudi Arabia’s forces have been killed since the country began its air strikes.

Union Properties Partners With Naif Al Rajhi Investments For Saudi Projects

Through the deal, a limited liability company specialised in real estate investment and development in Saudi Arabia will be formed.

Saudi Arabia On Alert Over Possible Oil Or Mall Attack

An interior ministry spokesperson said that all information has been passed on to the security forces, who are on alert.

Foreigners Queue For Opening Of $500bn Saudi Bourse

The move is likely to start the process of incorporating Saudi Arabia into major equity indices by the likes of MSCI, and this could attract as much as $24 billion in foreign capital.

Naimi Says Saudi Oil Production Near Record High In April

Naimi said that oil production in Saudi Arabia, the world’s biggest crude exporter, was “around 10 million” bpd in April.

Saudi’s Fawaz Abdulaziz Alhokair Q4 Net Profit Rises 5.7%

The company made a net profit of SAR201.74 million ($53.79 million) in the first quarter of 2015.

Saudi’s Tasnee Swings To Q1 Net Loss

Tasnee made a net loss of SAR332.5 million ($88.7 million) in the first quarter of 2015.

Saudi Telecom Q1 Net Profit Rises 4.7%

The firm made a net profit of SAR2.50 billion in the first quarter of 2015.

Saudi’s Savola Forecasts Lower Q2 Profit After Q1 Lifted By Unit Sale

Savola said it expected a profit of SAR429 million in the second quarter, according to a bourse statement.

Yemen’s Houthi Leader Accuses Saudi Arabia Of Seeking To Invade

Saudi Arabia’s goal is “the invasion of this country, its occupation and placing this country again under its feet and hegemony”, Abdel-Malek al-Houthi said.

Saudi’s SABIC Signs Deal To Use U.S. Shale Gas At British Plant

SABIC has previously said scarce gas supplies at home have forced it to look at investment opportunies abroad.

SABIC-Saudi Aramco-PIF Venture May Eventually Go Public

SABIC’s acting CEO Yousef Abdullah al-Benyan said the idea was still at an early stage.

Saudi’s SABIC Q1 Revenues Down 28% Y/Y, Oil Price “Out Of Control”

SABIC CEO Benyan said the fall in oil and petrochemical product prices was “out of control”, but said his company was well placed to deliver returns.

Saudi PetroRabigh Q1 Profit Falls By Half, Blames Lower Margins

The firm made SAR205.4 million in the first quarter of 2015, it said in a bourse statement.

Saudi’s Mouwasat Medical Q1 Profit Falls 3.5%

Mousawat said the slight drop in quarterly profit was due to a net loss from a Riyadh hospital it opened in November 2014.

Saudi’s SABIC Q1 Net Profit Falls 39%, Beats Forecasts

SABIC made a net profit of SAR3.93 billion in the first quarter, down from SAR6.44 billion in the year-earlier period.

Obama Calls Saudi King Salman To Discuss Yemen -White House

Obama and King Salman also reportedly agreed that a negotiated political solution was necessary to achieving lasting stability in Yemen.

Saudi Hardware Retailer SACO To Raise $134 m From Float – Lead

The price means the retail and wholesale tools superstore will raise around 504 million riyals from its flotation.

Saudi Arabia To Open Stock Market To Foreigners On June 15

Final rules covering the opening of the market will be published on May 4.