Wednesday 1 June 2016
 
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Saudi Arabia

PetroRabigh takes $33m hit on power cut

A 10-day power cut at Saudi Arabia's PetroRabigh petrochemical complex will have a SR124 million ($33.1 million) impact on the company's second-quarter results, it said on Tuesday. PetroRabigh, a joint venture between Saud

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PetroRabigh takes $33m hit on power cut

A 10-day power cut at Saudi Arabia's PetroRabigh petrochemical complex will have a SR124 million ($33.1 million) impact on the company's second-quarter results, it said on Tuesday. PetroRabigh, a joint venture between Saud

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Rising Mideast output drags Brent down

Brent crude prices fell on Tuesday on rising output from the Middle East and ahead of an Opec meeting later this week, while US crude edged higher as the summer driving season began. Brent crude oil futures were down 40 cents at $

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Rising Mideast output drags Brent down

Brent crude prices fell on Tuesday on rising output from the Middle East and ahead of an Opec meeting later this week, while US crude edged higher as the summer driving season began. Brent crude oil futures were down 40 cents at $

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Saudi residential market slowdown continues

The residential real estate market in Saudi Arabia continued its slowdown in 2016, with transaction volumes and sale prices declining at a slower rate compared to 2015, said a new report. The reduction in government spending, due

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Saudi intercepts ballistic missile from Yemen

Saudi Arabia has intercepted and destroyed a ballistic missile fired from Yemen and a Saudi-led military coalition said in a statement it may be forced to reconsider a truce that has been place since April. Saudi state news agency

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Golden Tuna to build production facility in Saudi Arabia

King Abdullah Economic City (KAEC), a special economic zone in Saudi Arabia, has leased a plot of land to Venezuela-based Golden Tuna, to build its first tuna production facility in Saudi Arabia. Construction work on the project w

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Golden Tuna to build production facility in Saudi Arabia

King Abdullah Economic City (KAEC), a special economic zone in Saudi Arabia, has leased a plot of land to Venezuela-based Golden Tuna, to build its first tuna production facility in Saudi Arabia. Construction work on the project w

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Saudi cbank foreign assets shrink $6bn in April

Foreign assets at Saudi Arabia's central bank shrank $6 billion in April as it liquidated some financial holdings to cover a big state budget deficit caused by low oil prices, official data showed on Sunday. Net foreign assets

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Qatar, Saudi Arabia trade reaches $1.9 billion

The bilateral trade between Qatar and Saudi Arabia amounted to QR6.94 billion ($1.90 billion) in 2015, according to data provided by Qatar Chamber. Qatar’s imports from Saudi Arabia were at QR5.11 billion ($1.40 billion), wh

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