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Saudi Arabia


  • LONDON, Oct 9- Iraq's oil exports are expected to rise to their highest in decades this month and production is on course to more than double by 2020, as it cements its place as OPEC's second-biggest producer after Saudi Arabia.

  • RIYADH, Oct 9- Saudi Arabia is satisfied that oil prices have fallen to a level that does not hamper global growth, Saudi Oil Minister Ali al-Naimi said on Wednesday, signalling success in a Gulf Arab effort to keep oil prices under control despite a halving of Iranian exports because of Western sanctions.

  • IEA optimistic about future of Iraq oil industry Tuesday, 9 Oct 2012 | 5:03 AM ET

    The International Energy Agency predicted Tuesday that Iraq will consolidate its position as a global oil power _ allowing it to rebuild the economy of a nation ravaged by war and decades of Saddam Hussein's autocratic rule.

  • Iraq's oil output to double this decade-IEA Tuesday, 9 Oct 2012 | 5:00 AM ET

    LONDON, Oct 9- Iraq's oil production is on course to more than double by 2020, the International Energy Agency said, although delays to investment could tighten the global market in coming decades and push prices higher.

  • Oil price soars on supply jitters Tuesday, 9 Oct 2012 | 12:48 AM ET

    NEW YORK-- The price of oil rose more than 3 percent Tuesday on concerns about supplies from the Middle East and the North Sea. Benchmark crude gained $3.06, or 3.4 percent, to finish at $92.39 a barrel in New York. There is also concern that tensions between Turkey and Syria could escalate and disrupt supplies from the Middle East.

  • S.Korea-Market Factors to watch on Oct 9 Monday, 8 Oct 2012 | 7:05 PM ET

    SEOUL, Oct 9- Following is a list of events in South Korea as well as news stories and press reports that may influence financial markets. >Australia's Aquila fights to trim $7.6 bln project.

  • DUBAI, Oct 8- Saudi Arabia's share index hit a 10- week low and most other Gulf Arab bourses declined on Monday as slumping oil prices and a gloomy start to the week on world markets weighed on regional sentiment.

  • IFC to boost investments in Yemen, Iraq, N. Africa Monday, 8 Oct 2012 | 11:01 AM ET

    DUBAI, Oct 8- The World Bank's financial arm International Finance Corp plans to increase its investments in Yemen, Iraq and North Africa next year to help support development and job creation, a senior IFC executive said.

  • RIYADH, Oct 8- Saudi Electricity Co has awarded contracts for South Korea's Hyundai and Japan's Mitsubishi to build and supply equipment for a large power plant in Jeddah, SEC said on Monday. But SEC expects the more efficient plant, to burn much less fuel oil per unit of electricity produced.

  • Egypt's new president gives himself high grades Monday, 8 Oct 2012 | 8:29 AM ET

    But the speech in many ways was also as much about style as it was about substance, and the 61- year-old Morsi, the first freely elected president in Egypt's history, used his address to project the image of an energetic leader in touch with the needs of the people.

  • CAIRO, Oct 8- Egypt's foreign reserves fell by $84 million in September but held above the $15 billion seen as necessary to shore up the pound for a third straight month after foreign donors began fulfilling promises of aid.

  • Corporate and infrastructure issuers in the Gulf region may increasingly rely on sukuk, the Islamic equivalent of bonds, as a source of funding in coming quarters says a report titled "Sukuk Are Surpassing Conventional Bond Issuance In The Gulf Countries As Yields Tighten," published Oct. 5, 2012, by Standard& Poor's Ratings Services.

  • RIYADH, Oct 8- Saudi Electricity Co has approved the awarding of a 11.96 billion-riyal contract to build a 2.7- gigawatt power plant in south Jeddah to an unidentified bidder, it said on Monday. Last month, Reuters reported that South Korean group Hyundai Heavy Industries was the low bidder on the project, citing industry sources.

  • Oct 8- The outlook for Saudi Arabia's banking system remains stable, says Moody's Investors Service in a new Banking System Outlook published today.

  • PRESS DIGEST - Hong Kong - Oct 8 Sunday, 7 Oct 2012 | 9:55 PM ET

    HONG KONG, Oct 8- These are some of the leading stories in Hong Kong newspapers on Monday. --A four-year-old boy visiting Hong Kong from Saudi Arabia is sick in Queen Mary Hospital with a Sars-like virus suspected to be the same one that emerged in the Middle East last month.

  • *Canada expects Indian companies will make oil sands deals. *Chinese bid for oil producer Nexen makes waves in Canada. To some political consternation in Canada, China is rapidly buying up assets in the tar sands of northern Alberta, one of the world's biggest crude oil deposits.

  • DUBAI, Oct 7- Saudi Arabia's Kingdom Holding, the investment vehicle of Prince Alwaleed bin Talal, is planning to raise up to $500 million from a syndicated loan, with the proceeds largely to refinance existing debt, three banking sources said.

  • *Deal gives Qtel more control over Algeria, Tunisia subsidiaries. to 92.1 percent, giving an instant boost to its bottom line and more control of subsidiaries in the high growth markets of Algeria and Tunisia.

  • RIYADH, Oct 7- Saudi Hollandi Bank shareholders have agreed to issue an Islamic bond, or sukuk, worth 1.4 billion riyals to support the bank's capital base, it said in a bourse statement on Sunday. The bank did not say in its statement when the sukuk would be issued or give any other details.

  • DUBAI, Oct 7- Qatar Telecom has raised its stake in Kuwait's Wataniya to 92.1 percent following the close of its tender offer. The Qatari firm, which operates in 16 countries across the Middle East, Africa and Asia, paid 519.1 million Kuwaiti dinars at 2.6 dinars per share to raise its stake from 52.5 percent, it said in a statement on Sunday.