Monday 26 January 2015
 
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Saudi Arabia

Oil prices fall on market relief over Saudi policy

Oil prices declined on Monday, with US crude falling close to a nearly six-year low, as Saudi Arabia's new King Salman moved to assuage fears of an unstable transition and any policy change in the world's largest oil exporter.

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Aramco plans natural gas plant in northern Saudi

State-run Saudi Arabian Oil Company (Saudi Aramco) plans to start natural gas production facility at a field in northern Saudi Arabia next year, a report said. This comes as Saudi Arabia is stepping up its investments in gas, the

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New Saudi king seen holding line on Opec policy to keep oil output high

Saudi Arabia's new king is expected to continue a policy of keeping oil output steady to drive out rival producers, though the royal succession has focused market attention on the future of the kingdom's

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Germany 'stops arms exports to Saudi Arabia'

Germany has decided to stop exporting arms to Saudi Arabia, the German newspaper Bild am Sonntag said on Sunday, citing government sources as saying the kingdom was "too unstable" for it to be receiving deliveries of weapons.

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Saudi King Salman seeks to reassure on succession, policy

Saudia Arabia's new King Salman pledged continuity in energy and foreign policies on Friday and moved quickly to appoint younger men as his heirs, settling the succession for years to come by naming a deputy crown prince from his dynasty'

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Fawaz Alhokair Q3 net profit falls

Saudi Arabia retailer Fawaz Abdulaziz Alhokair Company reported a 20.3 per cent fall in third-quarter profit, missing analyst estimates, blaming seasonal factors. The company made a net profit of SR106.2 million ($28.3 million) in

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Opec, oil companies clash at Davos over price slump

Opec defended on Wednesday its decision not to intervene to halt the oil price collapse, shrugging off warnings by top energy firms that the cartel's policy could lead to a huge supply shortage as investments dry up. The strai

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Mobily swings to huge Q4 loss

Etihad Etisalat (Mobily), Saudi Arabia's No 2 telecom operator which in November re-stated 18 months of profits, swung to a shock fourth-quarter loss on Wednesday. Mobily, an affiliate of the UAE's Etisalat, made a net los

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Saudi Q4 GDP growth lowest in over a year

Saudi Arabia's economic growth fell to its lowest level in more than a year in the fourth quarter of 2014, a sign that the plunge in oil prices may be causing growth to slow, data from the state statistics office showed on Wednesday.

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Saudi Q4 GDP growth lowest in over a year

Saudi Arabia's economic growth fell to its lowest level in more than a year in the fourth quarter of 2014, a sign that the plunge in oil prices may be causing growth to slow, data from the state statistics office showed on Wednesday.

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