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Egypt Signs $350m Oil, Power Financing Deals With Saudi

The total value of Saudi oil aid since July 2013 has amounted to about $5 billion.

Saudi Arabia’s Sedco Capital Eyes More European Investments

The Islamic investment firm will also distribute its Luxembourg fund range via two European investment firms.

Saudi Bank NCB Set To Defy Global Slowdown With $6bn Flotation

NCB is offering 300 million shares to Saudi individuals and 200 million shares to the state-run Public Pension Agency.

Funds Positive On Gulf Equity Markets Despite Oil Price Slide

Survey finds 47 per cent of fund managers intend to raise their overall equity allocation to the Middle East in the next three months.

Saudi Arabia Finds Six New MERS Cases As Outbreak Grows

The recent surge in cases, now numbering 32 since the start of October, has been focused in Riyadh and the western city of Taif, authorities said.

Saudi Telco Mobily Says Audit Committee Meeting Over Results, Shares Halted

The suspension was requested because its audit committee was meeting to consider “significant matters relating to its financial statements”, a statement said.

Saudi Arabia’s Kingdom Holding Q3 Net Profit Rises 20.5%

Kingdom made a net profit of SAR265 million ($70.6 million) in the three months ended Sept. 30, compared to SAR219.9 million in the same period a year earlier.

Barclays Sued By Saudi Developer For $10bn

Jadawel International, a unit of London-based MBI International Holdings Inc., claims Barclays “hatched a fraudulent scheme” to secure the rare Saudi banking license, selling out Jadawel in the process.

Major New Saudi-Sinopec Refinery To Export In December

Yanbu Aramco Sinopec Refining Co (Yasref) refinery started trial runs in September and originally planned its first exports by November.

UAE Consumer Confidence Up, Ranks 5th Most Bullish Globally In Q3 – Nielson

Consumers are mainly upbeat about future job prospects, the Nielson survey found.

Saudi Budget Carrier Flynas Suspends Long-Haul Services

The airline’s chief executive said that flynas would now focus on expanding its short-haul services, and might look at a different model for long-haul flights at a later date.

Saudi Riyal Market Calms After Jolt Due To Capital Outflow

Last Wedesday, the riyal tumbled unusually far beyond its peg of 3.75 against the U.S. dollar in the spot market, to as low as 3.7530.

Telco Zain Saudi Q3 Net Loss Narrows, Meets Estimates

Zain Saudi made a net loss of SAR316 million ($84.23 million) in the three months to Sept. 30.

Rise In MERS Cases Prompts Saudi Warning To Residents

The Health Ministry has announced a total of 23 confirmed new cases this month of the virus.

Saudi’s Dar Al Arkan Q3 Profit Tumbles As Costs Rise

The company made a net profit of SAR89.9 million ($24.0 million) in the three months to Sept. 30.

Saudi Arabia Jails Three Lawyers For Tweets Criticising Judiciary

The three lawyers were convicted of prejudicing public order through tweets which contained opinions against the ruler, and expressed contempt for the judiciary, SPA reported.

Saudi Telecom Beats Estimates With Flat Q3 Profit

The company made a net profit of SAR3.37 billion ($898 million) in the three months to Sept. 30.

Delayed Saudi Wasit Gas Plant To Start Partially Early 2015

Wasit will be one of the largest gas plants not linked to oil wells ever built by Saudi Aramco.

Saudi’s Tasnee Q3 Profit Rises 7.6%

Tasnee made a net profit of SAR243.7 million ($65 million) in the three months ending Sept. 30, up from SAR226.4 million a year ago.

Saudi Electricity Q3 Net Profit Drops, Misses Analyst Forecast

The company made SAR2.67 billion during the third quarter, compared to SAR2.85 billion during the same period of the previous year

Saudi SABIC’s CEO Says Oil Price Decline Is Temporary

SABIC chief executive Mohamed al-Mady said that population growth will push up consumption and oil prices.

Saudi SABIC Q3 Profit Falls 4.5%, Misses Estimates

SABIC, which is 70 per cent state-owned, attributed the fall in profits to a drop in sales and other income, although its cost of financing was lower.

Masked Men Burn Two Saudi Arabia Consulate Cars In Egypt

Security sources said that at least four men threw crude fire bombs also known as Molotov cocktails at the cars, which were parked.

As Saudi Arabia Steps Up Beheadings, Some See Political Message

Saudi Arabia beheaded 26 people in August, more than in the first seven months of the year combined.

Saudi Arabia Warns Women Not To Join Protest Against Ban On Driving

The announcement comes ahead of the anniversary on Oct. 26 of a demonstration last year in which dozens of Saudi women said they had taken to the road in protest at the ban on female drivers.

Only 11% of IT Decision Makers In UAE, Saudi Say Tablets Have Increased Productivity

UAE and KSA responses to the International Tablet Survey suggest a stark contrast in the perceived value of tablets compared to other nations.

Saudi Arabia Produces More, Supplies Less Oil In September

Saudi produced 9.70 million barrels of crude oil per day in September, but its supply to the market fell to 9.36 million bpd during the month.

Builder Khodari May Double Capex To Handle Big Saudi Projects

Major infrastructure projects planned in Saudi will require raising annual capital expenditure above the levels of SAR150 to SAR250 million seen in past years, Khodari said.

Saudi’s SABIC Says Won’t Expand Petrochemicals Venture With Shell

SABIC and Shell first announced plans to explore an expansion of their petrochemical plant in 2012.

Saudi Arabia’s ACWA Power Shifts Toward Renewable Energy

The firm is seeking to secure or arranging finance for $15 billion worth of projects, nearly half of which are in renewable energy.