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Business Saudi Arabia

  • Russian Energy Minister Alexander Novak discusses his country's intention to attract investment into its oil industry to ensure the efficient exportation of deposits.

  • DUBAI, March 29- Saudi Arabia is considering whether to change the structure of its planned U.S. dollar sukuk issue, which would be the kingdom's first international issue of Islamic bonds, banking sources told Reuters on Wednesday. Riyadh is expected to sell up to $10 billion of sukuk with an issue that could take place in the next few weeks, bankers say.

  • Crude oil extends price gains

    Oil prices saw yet another day of gains this Wednesday.

  • In recent days, discount sites such as airfarewatchdog.com have highlighted round trips including San Francisco- Copenhagen, Los Angeles- Stockholm and New York- Barcelona for under $400 and New York- Tel Aviv, Chicago- Bangkok and Los Angeles- Manilla for under $650 for travelers who can avoid the peak summer season. "What it boils down to is, be respectful and be...

  • DUBAI, United Arab Emirates— Monster trucks, hip-hop dancing and Game of Thrones all have one surprising thing in common now: Saudi Arabia. Deputy Crown Prince Mohammed bin Salman's support is key to this cultural push, which also means the fun is tightly controlled. He had not performed in the Saudi capital, Riyadh, since the late 1980 s.

  • MONTREAL— The head of the International Air Transport Association said Tuesday it's difficult to understand how banning electronic devices in carry-on baggage will improve flight security. The U.S. and Britain are citing concerns about terrorist attacks to prohibit passengers on some flights from mostly Middle Eastern and North African countries from...

  • KHOBAR/ DUBAI, March 28- Citigroup has formally applied for a licence to conduct capital markets business in Saudi Arabia, two sources familiar with the matter said, in a move to return to the country after an absence of nearly 13 years. The application has been made with Saudi Arabia's Capital Market Authority, whose primary role is to regulate and develop the...

  • KHOBAR/ DUBAI, March 28- Citigroup has formally applied for a license to conduct capital markets business in Saudi Arabia, two sources familiar with the matter said, in a move to return to the country after an absence of nearly 13 years. The application has been made with Saudi Arabia's Capital Market Authority, whose primary role is to regulate and develop the...

  • KHOBAR/ DUBAI, March 28- Citigroup has formally applied for a license to conduct capital markets business in Saudi Arabia, two sources familiar with the matter said, in a major move to return to the country after a roughly thirteen year absence. The application has been made with Saudi Arabia's Capital Market Authority, whose primary role is to regulate and...

  • KHOBAR/ DUBAI, March 28- Citigroup has formally applied for a licence to conduct capital markets business in Saudi Arabia, two sources familiar with the matter said, in a major move to return to the country after a roughly thirteen year absence. The application has been made with Saudi Arabia's Capital Market Authority, whose primary role is to regulate and...

  • *Tax on company cut to 50 percent from 85 percent. JEDDAH, Saudi Arabia/ RIYADH, March 28- Saudi Arabia's government has cut the income tax paid by national oil giant Saudi Aramco to smooth the company's initial public offer of shares next year, which is expected to be the world's largest equity sale. A royal decree on Monday, retroactive to Jan. 1, set a tax rate of 50...

  • *Tax on company cut to 50 percent from 85 percent. JEDDAH, Saudi Arabia/ RIYADH, March 27- Saudi Arabia's government has cut the income tax paid by national oil giant Saudi Aramco to smooth the company's initial public offer of shares next year, which is expected to be the world's largest equity sale. A royal decree on Monday, retroactive to Jan. 1, set a tax rate of 50...

  • RIYADH, Saudi Arabia— Saudi Arabia on Monday reduced the tax rate for Saudi Aramco as plans move forward to publicly list shares of the state-owned oil giant. The new code, rolled out by royal decree from King Salman, taxes Aramco at 50 percent on income retroactively starting Jan. 1. The government is preparing to list less than 5 percent of Aramco, possibly by next...

  • OPEC President Qatar's Energy Minister Mohammed bin Saleh al-Sada and OPEC Secretary General Mohammad Barkindo address a news conference after a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, November 30, 2016.

    "The market will decide" whether OPEC will extend an output cut, Iraq's oil minister said at a meeting in Kuwait.

  • A gas flame is seen in the desert near the Khurais oilfield, near Riyadh, Saudi Arabia.

    An official says Saudi Arabia's U.S. oil exports are falling and will stay low, but other data suggest the drop is only temporary.

  • Oil could collapse if OPEC doesn't keep its act together

    Oil prices could dip to the low to mid $30 dollar range if OPEC doesn't extend its production cut agreement.

  • Saudi Arabia is having "serious discussions" with the New York Stock Exchange about having the NYSE as one of the exchanges for Aramco's IPO.

  • OPEC Secretary General Mohammed Barkindo (R)

    OPEC faces a serious price crash if it doesn't put the best face possible on its production deal and extend it when it meets in May.

  • DUBAI, March 23- Oil giant Saudi Aramco has selected Samba Capital as one of two banks to work as an adviser on its planned share sale in Riyadh, banking sources told Reuters on Thursday. At least six investment banks pitched for a role advising the world's largest oil producer on its listing on the Saudi stock exchange in Riyadh, the Tadawul. Samba Financial Group,...

  • King Salman bin Abdulaziz, Saudi Arabia's king, gestures as he arrives for the Saudi Arabia-Japan Business Forum for Saudi Arabia Vision 2030 in Tokyo, Japan, on Tuesday, March 14, 2017.

    Political, regulatory and legal challenges may discourage Riyadh from pursuing a U.S. listing for Saudi Aramco.