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
Net foreign assets at Saudi Arabia's central bank fell 1.9 per cent in November from the previous month to SR2.356 trillion ($628 billion) as the government liquidated assets to cover a huge budget deficit caused by low oil prices.
Net foreign assets at Saudi Arabia's central bank fell 1.2 per cent from the previous month in September to SR2.426 trillion ($647 billion), their lowest level since November 2012, official data showed on Thursday.
Net foreign assets at Saudi Arabia's central bank fell by $6.6 billion in August as the kingdom liquidated assets to cover a budget gap caused by cheap oil, official data showed on Monday.
The central bank, which serves as the
The net foreign assets at Saudi Arabia's central bank fell to SR2.546 trillion ($678.8 billion) in April, down by $11.8 billion or 1.7 per cent from the previous month as the kingdom drew on its reserves to cover a budget deficit caused by l
While the drop in oil prices will likely cause Abu Dhabi's economic growth to slow in 2015 and put an end to four consecutive years of double-digit fiscal surpluses, the emirate's sizeable stock of foreign assets will help cushion the im
Qatar Petroleum (QP), the world's largest liquefied natural gas (LNG) exporter and main source of Qatar's huge wealth, plans to expand internationally, the Gulf state's energy minister said on Thursday.
QP businesses a
Saudi Arabia’s foreign assets surged to a record high of SR2.56 trillion ($682 billion) in July as a result of robust oil revenues and possibly a higher return on Saudi Arabian Monetary Agency's investments, according to a report.
The US is planning is new law aimed at American taxpayers who hold unreported foreign financial assets, according to a report.
Expatriates in the US who have accounts with financial institutions in the GCC will face a broad-based