Wednesday 22 February 2017
 
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Saudi inflation growth in December hits new low

Saudi Arabia saw inflation grow by the slowest pace at least since 2012, by 1.7 per cent year-on-year (y-o-y) versus 2.3 per cent y-o-y in November, mainly owing to the fall in food prices, a report said. Inflation in December gre

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Saudi's forex reserves to hit $523bn by year-end

Saudi Arabian Monetary Authority’s (Sama) foreign exchange reserves are estimated to reach nearly SR1.961 trillion ($523 billion), by the end of this year, implying lower net withdrawals over the remainder of 2016 as a result of the intern

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Saudi central bank gets new name

Saudi Arabian Monetary Agency, the kingdom's central bank, has changed its name to Saudi Arabian Monetary Authority. The acronym SAMA, however, remains unchanged, said the Saudi central bank in a statement. All

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Park Inn Muscat's new terrace lounge opens

Park Inn Muscat’s Sama Terrazza rooftop lounge has opened its doors to patrons offering its panoramic view and relaxing ambiance with lounge background music. Guests can now enjoy the charm of relaxing under the stars as sun

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Monetary stability top priority: New Saudi cbank chief

New Saudi Arabian Monetary Authority Governor Ahmed Al-Kholifey said his main priority is to maintain monetary stability and support the government's Vision 2030 economic reforms, Al Sharq Al Awsat newspaper reported on Sunday.

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Planning ‘key to IFRS implementation Saudi’

Lack of proper planning of International Financial Reporting Standards (IFRS) implementation by Saudi companies can derail their compliance with the regulatory requirements, an industry expert said. “As Saudi Arabia moves to

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Saudi cbank raises loan-to-deposit ratio

The Saudi Arabia Central Bank (Sama) recently raised banks’ maximum allowable loan-to deposit (LTD) ratio to 90 per cent from 85 per cent, which will allow banks to continue expanding credit while limiting price competition for deposits.

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Saudi cbank warns banks against riyal speculation

The Saudi Arabian central bank has warned commercial banks against betting on depreciation of the riyal as tumbling oil prices put pressure on the Saudi currency, several bankers operating in the market said. The riyal, pegged in

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Sama chief blames 'unrealistic speculators'

Saudi Arabia's central bank governor said on Monday recent volatility on its currency in the forwards market is due to speculation based on unrealistic expectations. The Saudi riyal hit a record low on January 7, amid renewed

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Saudi debut bond likely to see good response

Saudi Arabia's debut international bond should get a warm welcome from foreign investors if it hits markets in 2016, though fund managers say they will need yields that compensate them for the political and oil price risks. Th

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