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Ramadan Season In Saudi Arabia Mostly Free From MERS Virus

The Kingdom reported 10 confirmed new cases of the virus during Ramadan and Eid.

Saudi Aramco, Sumitomo To Transfer Project Ownership To PetroRabigh

The new $8.5 billion project, known as Rabigh II, is to be built as an expansion of PetroRabigh’s existing petrochemical plant.

Saudi King Says Israeli Offensive In Gaza A “War Crime”

Gaza officials say at least 1,499 Palestinians, mostly civilians, have been killed and 7,000 wounded.

Mideast Funds Bullish On Saudi, Bearish On UAE

The opening of the Saudi market to direct foreign investment is expected to attract a lot of active money.

UAE’s Oil Exports To Japan Drop 14.4% In June

The Gulf state, Japan’s second biggest oil provider, exported 23 million barrels during the month.

Saudi Bourse Opening May Double Fund Flows To Gulf

Other Gulf markets will also lure more foreign investment if the Saudi market opens, experts say.

Saudi State Investment Fund To Set Up New Companies

The Kingdom’s Public Investment Fund has assets under management worth about $5.3 billion.

Saudi’s Flynas To Drop Manchester In August

The airline currently operates three weekly flights on the Jeddah-Manchester route.

Opening Up Saudi’s Bourse to Foreigners Will “Transform” Market

The move is expected to be in place in the first half of 2015, according to the Kingdom’s financial regulator.

Saudi’s Savola Says In Talks To Sell Packaging Business To Takween

Savola’s packaging unit’s consolidated net profit last year fell to SAR69.5 million from SAR100 million a year earlier.

Saudi Electricity Says Will Get $400m Payment From Aramco

The settlement covers payments due between 2007 and 2013.

Qatar Emir Meets Saudi King In Jeddah To Discuss Gaza Fighting

More than 600 people are reported to have been killed in Gaza during the two weeks of fighting between Palestinians and Israelis.

Japan To Count Saudi, UAE Crude Storage Toward Reserve Goals

Japan has been lending 10.7 million barrels of crude tank capacity to the two countries.

Saudi’s Savola Says CEO Mannaa To Resign For Personal Reasons

Savola is a major producer of cooking oil, sugar and other foodstuffs in the Kingdom.

Stock News: Saudi Bourse At 6-Year High On Foreign Investment News

The main index rose 3.2 per cent, its biggest rise since April 2012, to a fresh six-year high of 10,062 points in the first hour of trade.

MSCI Could Add Saudi Arabia As Emerging Market Next Year

Saudi Arabia plans to open its stock market to direct investment by foreign financial institutions in the first half of next year.

Saudi Arabia Prepares To Open $530bn Stock Market To Foreigners

A statement from the cabinet did not specify a timetable for the market to be opened.

IMF Raises Saudi Economic Growth Forecast To 4.6% For 2014

In April, the IMF had forecast GDP growth in the Kingdom to reach 4.1 per cent for 2014.

Saudi Telco Mobily Q2 Net Profit Slips 18.6%

The drop was caused by a provision against a scrapped network sharing deal with Atheeb Telecom.

India’s Tech Mahindra Forms JV To Expand Saudi Operations

The Indian firm will have 51 per cent ownership in the joint venture called Tech Mahindra Arabia while Saudi-based Midad will have a 49 per cent stake.

Saudi’s Fawaz Alhokair Q2 Net Profit Up 15.7%, Misses Forecasts

Net profit in the three months to June 30 was SAR191.2 million ($51.0 million), compared to SAR165.2 million in the same period a year earlier.

Saudi Electricity Q2 Profit Jumps 144% On One-Time Gain

The company made SAR3.66 billion during the three months to June 30, compared to SAR1.50 billion during the same period of the previous year.

Saudi Telecom Reports 96% Rise In Q2 Profit, Beating Forecasts

STC changed the valuation of last year’s sale of a majority stake in Indonesia’s Axis from a SAR598 million loss to a SAR41 million gain.

Saudi’s Kingdom Holding Q2 Net Profit Rises 16.8%

The firm, owned by billionaire Prince Alwaleed bin Talal, attributed the rise to an increase in gains on investments and dividends income.

SABIC Chief Says Petchem Prices May Rise In Next 3 Years

Mohamed al-Mady said the global outlook for petrochemical demand over the next three years is positive.

Stock News: Arabtec Drags Down UAE, Saudi Earnings Disappoint

Arabtec tumbled its daily 10 per cent limit, dragging down the entire Dubai stock market to close six per cent lower.

Saudi’s Khodari Profit Slumps 68.8%, Widely Misses Forecasts

Net profit fell to SAR7.91 million ($2.1 million) in the three months to June 30 from SAR25.38 million a year earlier, the company said in a statement.

SABIC Q2 Profit Rises 7%, Matching Analysts’ Estimates

The company earned SAR6.46 billion ($1.72 billion) in the quarter, compared to SAR6.04 billion in the year-earlier period.

Saudi’s Dar al-Arkan Q2 Net Profit Up 17%, Misses Forecasts

Net profit in the three months to June 30 was SAR121.3 million ($32.3 million) compared to 103.7 million in the same period a year earlier.

Saudi Arabia Investigates Imams Who Did Not Condemn Al Qaeda Attack

A senior official was quoted as saying in the local media that the imams were under investigation “for allegedly failing to highlight the incident in their sermons”.