Business Saudi Arabia

  • DUBAI, United Arab Emirates— Airbus says it has agreed to sell a total of 80 A320neo planes to Saudi Arabian low-cost airline Flynas in a deal worth $8.6 billion. Riyadh- based Flynas is a low-cost airline previously known as Nas Air that flies to domestic Saudi and regional destinations. Saudi billionaire Prince Alwaleed bin Talal's Kingdom Holding Company...

  • ABU DHABI, Jan 16- Saudi Arabia will launch in coming weeks a renewable energy program that is expected to involve investment of between $30 billion and $50 billion by 2023, Saudi Energy Minister Khalid al-Falih said on Monday. Falih, speaking at an energy industry event in Abu Dhabi, said Riyadh would in the next few weeks start the first round of bidding for...

  • ABU DHABI, Jan 16- Saudi Arabia will launch in coming weeks a renewable energy programme that is expected to involve investment of between $30 billion and $50 billion by 2023, Saudi Energy Minister Khalid al-Falih said on Monday. Falih, speaking at an energy industry event in Abu Dhabi, said Riyadh would in the next few weeks start the first round of bidding for...

  • A reactor building at the Russian-built Bushehr nuclear power plant in Bushehr, Iran.

    The Iran nuclear deal remains vulnerable to U.S.-Iranian provocations due to deep and lingering differences between the adversaries.

  • ABU DHABI, Jan 12- Saudi Arabia has cut oil output to its lowest in almost two years, its energy minister said on Thursday, as the world's largest oil exporter leads OPEC's drive to eradicate a global glut and prop up prices. Energy Minister Khalid al-Falih said output had fallen below 10 million barrels per day- more than it had promised as part of a global output cut...

  • A Saudi man walks past a field of solar panels at the King Abdulaziz city of Sciences and Technology, Al-Oyeynah Research Station, in Saudi Arabia.

    Saudi and Emirati companies have won contracts for some of the Middle East and North Africa's largest solar power projects.

  • DUBAI, United Arab Emirates— A major shareholder in Saudi airline Flynas says the discount carrier has reached a deal to buy $8.6 billion worth of planes from European plane-maker Airbus. Saudi billionaire Prince Alwaleed bin Talal's Kingdom Holding Company announced the deal Thursday, though it did not say how many aircraft or what type were involved.

  • ABU DHABI, Jan 12- Saudi Arabia has cut oil output to its lowest in almost two years, its energy minister said on Thursday, as the world's largest oil exporter leads OPEC's drive to eradicate a global glut and prop up prices. Energy Minister Khalid al-Falih said output had fallen below 10 million barrels per day- more than it had promised as part of a global output cut...

  • *Riyadh reports major progress in eliminating deficit. DUBAI, Jan 12- Markets are cheering Saudi Arabia's progress in cutting a huge state budget deficit, but details of the kingdom's financial plans show it will remain hostage to swings in oil prices for many years. Riyadh said it had cut its deficit from a record 367 billion riyals in 2015 to 297 billion in 2016,...

  • Bond traders at CME Group

    Bond prices fell as investors digested Donald Trump's remarks at his first press conference as president-elect, as well as new supply.

  • *Arabian Cement surges; Beltone upgrades stock to buy. DUBAI, Jan 10- Egypt's stock market rose strongly on Tuesday but foreign funds were net sellers for a second time since the Egyptian pound was floated on Nov. 3. Mohamed El Nabarawy, head of asset management at Egypt's HC Securities& Investment, said foreign funds had been extremely underweight in Egypt for...

  • *Oman caught between rivals Iran, Saudi Arabia. *Tehran ties may be key to boosting Oman economy. Oman has never found it easy to balance relations with Saudi Arabia to the west and Iran to the north, but worsening rivalry between the region's dominant Sunni and Shi'ite powers is testing its cherished policy of non-alignment more than ever.

  • *Oman caught between rivals Iran, Saudi Arabia. *Tehran ties may be key to boosting Oman economy. Oman has never found it easy to balance relations with Saudi Arabia to the west and Iran to the north, but worsening rivalry between the region's dominant Sunni and Shi'ite powers is testing its cherished policy of non-alignment more than ever.

  • *Petrochemical shares weigh on Saudi as Brent near $56. DUBAI, Jan 9- Egypt's main stock index corrected on Monday as local traders booked profits and Gulf markets diverged with United Arab Emirates markets outperforming as traders focused on financial shares while a retreat in oil prices weighed on Saudi Arabian petrochemical producers.

  • *Apps help Saudi women get to work. DUBAI, Jan 8- Saudi Arabia hopes its plan to bring a further 1.3 million women into the workforce by 2030 will be given a lift from ride-hailing apps Uber and Dubai- based rival Careem. But Saudi Arabia courted Uber and Careem, offering state investments, to support its Vision 2030 economic reform plan.

  • Saudi Defense Minister and Deputy Crown Prince Mohammed bin Salman gestures during a press conference in Riyadh, on April 25, 2016.

    The leader of Saudi Arabia's drive for economic reform has laid out a three-pronged strategy, according to remarks reported by Foreign Affairs magazine.

  • Shuaiba oil refinery south of Kuwait City, Kuwait.

    Three countries responsible for more than half of OPEC's planned production cuts exported at records through the end of 2016.

  • 2016 a great year for oil - eventually: Analyst

    Anish Kapadia, managing director and senior research analyst at Tudor, Pickering, Holt & Co. International, speculates on oil price movements in 2017.

  • *Russia, Iran, Turkey want to broker Syria peace deal. MOSCOW/ ANKARA, Dec 29- Syria would be divided into informal zones of regional power influence and Bashar al-Assad would remain president for at least a few years under an outline deal between Russia, Turkey and Iran, sources say. Russia and Turkey would allow him to stay until the next presidential election when...

  • *Russia, Iran, Turkey want to broker Syria peace deal. MOSCOW/ ANKARA, Dec 28- Syria would be divided into informal zones of regional power influence and Bashar al-Assad would remain president for at least a few years under an outline deal between Russia, Turkey and Iran, sources say. Russia and Turkey would allow him to stay until the next presidential election when...