Saudi Arabia's finance ministry is closing the national accounts one month earlier than usual this year, suggesting it is tightening its control over spending as low oil prices create a record state budget deficit.
National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 501 per cent increase in third-quarter net profit on Tuesday.
The company made a net profit of SR510.3 million ($136.10 mill
Saudi Arabia's Al Rajhi Bank posted its first quarterly rise in net profit in nine quarters on Tuesday helped by lower expenses, the kingdom's econd-largest listed lender by assets said.
Net profit rose 3.6 per cent to SR1
Lexmark International, a global technology company creating enterprise software, hardware and services, has launched a new unit in Saudi Arabia, further expanding its presence in the region to support demand in the Middle East.
Arab National Bank, Saudi Arabia's seventh-largest lender by assets, reported a 2.2 percent rise in third-quarter profit on Tuesday, marginally missing analysts' forecasts.
Net profit in the three months to September 30 wa
Saudi Basic Industries Corporation's (Sabic) new Agri-Nutrients Strategic Business Unit (SBU) has debuted its innovative strategic approach to the global agri-nutrients market at an exhibition in Riyadh, Saudi Arabia.
Saudi Arabia's government is in talks with local banks to sell them SR20 billion ($5.3 billion) of local currency bonds next week, the Maaal financial website reported on Monday, citing unnamed sources.
A five-year tranche wil
The top three oil-dependent sovereign wealth funds have been selling European equity holdings since May, a study showed on Monday, another sign of petrodollars being withdrawn from world markets.
However, Asian funds have continue
Saudi Arabia's Capital Market Authority (CMA) lifted a one-day suspension on trading of Mobily's shares, the stock market regulator said in a statement on Monday.
It halted trading on Sunday pending the mobile firm's r
France and Saudi Arabia are to agree big aerospace contracts when French Prime Minister Manuel Valls visits the kingdom on Tuesday, sources close to the matter said on Sunday.
Valls is on a tour of several Middle Eastern countries