Net foreign assets at Saudi Arabia's central bank fell 0.5 per cent from the previous month to SR2.480 trillion ($661 billion) in July, their lowest level since early 2013, central bank data showed on Thursday.
The data showed the d
Saudi Arabia's stock market surged 7.4 per cent on Tuesday as the region rebounded from several days of heavy selling, encouraged by stronger oil prices and rising global bourses.
The main Saudi stock index&
Saudi Arabia's stock market plunged 5.9 per cent on Monday, leading another day of losses across the Middle East as the region reacted to sliding oil prices and a deteriorating global environment.
Saudi construction company Mohammad Al Mojil Group (MMG) has appointed Hafiz Shafei as its new chief executive officer, the company which is restructuring operations following heavy losses, said on Monday.
Prior to his appointment
Bahrain-based Asry, a leading ship and rig repair yard, is targeting more business in Saudi Arabia, which contributed about 40 per cent of its total sales last year, the company’s top official has said. Chief executive Nils Kristian Berg
Saudi Arabian entrepreneur Essam Al-Zamel has overcome many obstacles to found a string of technology companies in the past decade, but he thinks sliding oil prices will be hard to handle.
"A black economic cloud is covering
Stock markets in Saudi Arabia and the UAE plunged again on Sunday in response to a fresh slide of oil prices and the decision by credit rating agency Fitch to cut its outlook for Saudi Arabia.
Egypt's bourse also fell sharply.
Fitch Ratings has revised the outlooks on Saudi Arabia's long-term foreign and local currency issuer default ratings (IDR) to negative from stable citing lower oil prices and higher state spending associated with the accession of a new king
National Commercial Bank (NCB), Saudi Arabia's largest lender, is selling SR2 billion ($533 million) of capital-boosting sukuk, two banking sources with knowledge of the matter said on Sunday.
The offer, which enhances the ban
A bomb next to the governor's office in the Yemeni city of Aden killed four people on Thursday, witnesses said, and the European Union urged parties to avoid hitting civilian infrastructure after Saudi-led air strikes on Hodeida po