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Saudi Arabia

SABIC Plans To Lift Steel Capacity To 10m Tonnes By 2025

The company’s total steel production currently stands at six million tonnes per year.

Saudi’s Sipchem Q1 Net Profit Rises 6.5%

Sipchem made a profit of 68.7 million Saudi riyals ($18.3 million) in the three months to March 31.

Kuwait Hopes For Remedy To Gulf Row Over Qatar Soon

Kuwait, which offered to mediate in the dispute, is planning to present a solution to the two sides soon, a Gulf Arab diplomat said.

Saudi Arabia’s NCB Names Advisers For Share Sale

NCB chairman Mansour al-Maiman said earlier this week that the bank was preparing to list its shares on the Saudi stock exchange this year.

Saudi Telco Regulator To Re-Tender Piggyback Mobile Licence On Zain Saudi’s Network

Saudi’s Communications and Information Technology Commission named Dubai-based Axiom Telecom as the provisional winner last year.

Saudi Authorities Asked To Allow Sport For Girls In Public Schools

A ban on sports in private girls schools was officially lifted last year.

Second-In-Line To Saudi Throne Denounces Banks -Media

There were no indications that the comments by deputy crown prince Muqrin bin Abdulaziz would be followed by any concrete policies against banks in Saudi Arabia.

Saudi Records 11 Cases Of MERS Virus In Jeddah

Two of the patients died, six have recovered, while three are undergoing treatment, the official Saudi Press Agency reported.

Saudi British Bank Q1 Profit Rises 14%

The bank said it made 1.08 billion Saudi riyals ($287.97 million) in the three months ending March 31.

Saudis Keeps May Crude Supply Steady To 2 Asia Buyers -Sources

Saudi Arabia has supplied full contractual volumes to most Asian buyers since late 2009.

Saudi Arabia’s Crude Oil Output Drops To 9.566m bpd In March

The world’s largest oil exporter and OPEC heavyweight supplied 9.899 million bpd in February.

Saudi’s Almarai Q1 Profit Rises 7.3%, Misses Estimates

The company had sales worth 2.72 billion riyals in the first quarter, up 12.3 per cent from a year earlier.

Saudi’s Jarir Q1 Net Up 11.3% Despite Slower Sales Growth

Jarir made 201.3 million riyals ($53.7 million) in the first three months of 2014.

Saudi Hollandi Bank Q1 Net Profit Rises 20%

The bank made a profit of 417 million riyals ($111.19 million)in the three months to March 31, according to a bourse statement.

Saudi’s Riyad Bank Q1 Net Profit Up 13.5%

The bank made 1.08 billion riyals ($288 million) in the three months ending March 31.

Saudi’s Maaden Says Secures $2 Billion Loan For Phosphate Plan

The loan will be for 17 years and will be repaid in twice yearly instalments after a five-year grace period, Maaden said in a bourse statement.

Saudi’s Umrah Visa Extension Scheme To Launch Next Month- SCTA

Saudi Arabia received around 6.9 million religious tourists in 2013, according to official estimates.

Saudi March Business Activity Growth At Five-Month Low

Output growth slowed to 60.0 points while new orders growth slowed to 65.8 points, a new survey shows.

HTC One M8 To Hit Dubai Shelves On April 4, Special Gold Edition Planned

HTC’s latest smartphone is priced at Dhs2,750 in the UAE.

Saudi Budget Carrier Flynas To Become Profitable This Year

Flynas currently carries three million passengers annually and claims 15-18 per cent of the domestic air travel market.

British Airways Launches Daily Flights On Jeddah-London Route

The expansion is part of British Airways’ investment in Saudi Arabia and the wider Middle East.

Saudis Charge Three Over Allegedly Seditious Tweets

The men are reportedly the first to be charged under the terms of a February royal decree.

Saudi Arabia’s NCB Plans Capital Hike Before IPO

The government said it planned to float 15 per cent of the bank on the stock exchange later this year in an initial public offer.

Saudi’s Algosaibi Estimates Assets At A Fraction Of Claims Against It

The company has invited more than 70 financial institutions to a meeting in Dubai to propose “a comprehensive settlement” with creditors.

Saudi Arabia’s Algosaibi Calls May Creditor Meeting -Bankers

The 2009 collapse of Algosaibi’s Bahrain unit, The International Banking Corp, and Awal Bank, owned by Saad Group, left an estimated $22 billion bank debt.

Saudi Bans Men From Selling Perfumes And Cosmetics To Women

Only female staff will be allowed to work in stores selling women’s products by October 2016, local media reported.

Thai Court Throws Out Murder Charges In Saudi ‘Blue Diamond’ Case

The theft of jewels worth $20 million and the disappearance of Saudi businessman Mohammad al-Ruwaili has strained Thai-Saudi relations.

Saudi Dynasty Moves To Forestall Succession Crisis

The Kingdom recently appointed Prince Muqrin as deputy crown prince.

Obama-Saudi King Talks May Ease Friction But No Breakthrough Seen

Friday’s two-hour exchange in the Kingdom did not yield a shared statement or any evidence of policy changes.

Obama, Saudi King Discuss Syrian Rebels, Iran, Gulf Security

US President Barack Obama made the remarks during an official visit to the Kingdom.