Saturday 29 November 2014
 
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Saudi

Oman crude OSP for Jan falls to lowest in 4 years

The official selling price (OSP) for Oman crude in January will drop by $8.72 to $78.24 a barrel, the lowest since November 2010, Reuters calculations based on data from the Dubai Mercantile Exchange (DME) showed on Friday. Saudi

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Zain Saudi proposes capital reduction to shareholders

Zain Saudi, a Saudi Arabian telecommunication operator, has proposed a capital reduction to shareholders to eliminate all accumulated losses up to September 30, the company said in a statement on the kingdom's bourse. The move

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Saudi government writes off $52m housing loans

The Saudi Ministry of Housing has written off SR198 million ($52.7 million) in loans given to 852 citizens, who are now dead. Housing Minister Shuwaish Al-Duwaihi, who is also the head of the Real Estate Development Fund (REDF), c

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Saudi Arabia sees major growth in shipping; $30bn projects under way

Saudi Arabia is experiencing exponential growth in its ports and shipping sectors with projects planned and currently in progress totalling more than $30 billion. Experts presented a series of papers to more than 200 delegates at the in

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Saudi, UAE signal no push for Opec oil cut

Opec leader Saudi Arabia and fellow member, the UAE signalled on Wednesday they were unlikely to push for a major change in oil output at the group's meeting this week to prop up prices that have collapsed by a third since June.

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Sipchem affiliate restarts methanol production

An affiliate of Saudi International Petrochemical Company (Sipchem) has restarted a methanol plant after scheduled maintenance, Sipchem said in a bourse filing. The plant, which produces 967,000 tonnes of methanol per annum, was s

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Saudi, Russia pre-Opec talks yield no oil output cut

Impromptu talks between Saudi Arabia, fellow Opec member Venezuela and oil powers Russia and Mexico yielded no agreement on how to address a growing oil glut, ending without any plan to cut output despite a collapse in prices. &nb

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Gold Holding named distributor of PAMP bars in Saudi

Gold Holding, an integrated gold investment company in the UAE, has been appointed as the exclusive distributor of PAMP minted gold bars of 100 grams or less in Saudi Arabia. PAMP is a leading bullion brand, headquarter in Switzer

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Saudi market ‘vital for Asry’s growth strategy’

The Saudi Arabian market is fundamental to Bahrain-based Arab Shipbuilding and Repair Yard Company’s (Asry) growth strategy, the ship and rig repair yard's top officials have said. This comes after the yard announced its

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Saudi Arabia's Naimi says 'as happy as can be'; no clues on Opec

Saudi Arabia's Oil Minister Ali Al Naimi said he is "as happy as can be" as he arrived in Vienna for an Opec meeting this week, brushing off questions about tumbling oil prices and surplus supplies.  

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