Sunday 19 April 2015
 
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UN chief urges immediate ceasefire ‘by all parties’ in Yemen

UN Secretary-General Ban Ki-moon has called for an immediate halt to the fighting in Yemen, the first time he has made such an appeal since Saudi-led air strikes against Iranian-backed Houthi rebels began three weeks ago. Ban said

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New Yemen VP hopes to avert Saudi ground campaign

Yemen's newly-appointed Vice President Khaled Bahah, a widely respected figure named this week to shore up the legitimacy of the exiled Saudi-backed government, said on Thursday he hoped to avert a Saudi-led invasion to restore unity to the

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Saudi hardware retailer to raise $134m from float

Saudi Company for Tools and Hardware (Saco), a popular do-it-yourself (DIY) chain in the kingdom, has set the price for its 30 per cent initial share sale at SR70 ($18.70) each, a statement from the company's financial adviser said on Thursd

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Yansab to shut petchem plants for maintenance

Saudi Arabia's Yanbu National Petrochemical Co (Yansab) plans to shut its petrochemical complex this month for maintenance for 35 days, it said in a bourse filing on Thursday. The firm, a subsidiary of Saudi Basic Industries C

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Saudi's Ma'aden registers solid Q1 net profit

Saudi Arabian Mining Co (Ma'aden), the Gulf's largest miner, reported on Thursday its first-quarter net profit more than doubled year on year, but the earnings still fell short of analysts' forecasts. The company's

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Saudi to open stock market to foreigners on June 15

Saudi Arabia will open its $532 billion stock market to direct foreign investment on June 15, allowing qualified foreign institutions to buy shares from that date, the Capital Market Authority said on Thursday. Final rules coverin

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Dar Al Arkan Q1 net profit slumps 40.6pc

Dar Al Arkan, one of Saudi Arabia's largest property developers, has reported a 40.6 per cent fall in first-quarter net profit on Thursday, broadly in line with analysts' forecasts. Arkan made a net profit of SR147.3 milli

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Boom time for Saudi earthmoving equipment market

Saudi Arabia is fast becoming a major market for earth moving equipment manufacturers, thanks to the  ongoing construction and infrastructure development activities in the kingdom, said a report. The earth moving equipment ma

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Opec oil output surges on Saudi, Iraq boost

Opec's oil output has surged in March, the producer group said in a report, adding to excess supply in the market despite more evidence that its strategy of letting prices fall to hurt other producers is taking effect. In a mo

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Speculation over Saudi-India oil deal as talks drag on

Saudi Aramco and India's Reliance Industries have not yet concluded a term contract to import diesel and gasoline, three industry sources said, fanning market speculation that the long-standing annual deal may not be renewed.

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