Nour Al Hammoury, chief market strategist at ADS Securities, says it's a "historic day" for Saudi Arabia and the region, as the kingdom announces it will soon open its market to foreign investors.» Read More
A Saudi Arabian investor has bought a 3.3 billion pound ($6.6 billion) stake in Europe's biggest bank HSBC Holdings in the past two months, and sees the stake as a long-term investment, his spokesman said.
Mitsui & Co., Japan's second-biggest trading house, has won a $763 million contract order together with a group of companies for a railway construction project in Saudi Arabia.
If you’ve been paying attention to the oil market lately, you’ve probably spent some time scratching your head. Crude oil prices seem to fluctuate on a day-to-day basis now, leaving investors to wonder when the volatility will end – and what’s behind it.
OPEC could make oil production cuts for the second time this year--so says the Saudi Oil Minister Ali Naimi. He says supply continues to outweigh demand. But it's not a done deal. The oil organization could wait until their December meeting in Nigeria-- to assess the impact of the October cuts--before cutting even more production