Business Saudi Arabia


  • RIYADH, July 19- Saudi Binladin Group, the kingdom's biggest construction conglomerate, appears to have pulled back from the brink of a financial crisis that risked damaging the wider economy. It was then barred from receiving new state contracts altogether after one of its cranes toppled into Mecca's Grand Mosque during a storm, killing 107 people.

  • *OPEC delegate says comments suggest change in Saudi view. LONDON, July 13- OPEC delegates say comments from top exporter Saudi Arabia, which two years ago led the group to drop its historic role of supporting oil prices, are a change in tone and a sign the kingdom is looking- verbally for now- to prop up the market. But OPEC insiders say Falih's comments, and a remark he...

  • RIYADH, July 13- Jihadists have carried out many shootings and bombings in Saudi Arabia since 2014, soon after Islamic State's leader Abu Bakr al-Baghdadi, called on his supporters there to mount attacks at home instead of traveling to join him in Syria or Iraq. Saudi Arabia had earlier barred its citizens from going to fight in jihad overseas, used its clergy to...

  • RIYADH, July 13- Technical hitches limited the death tolls in three suicide attacks in Saudi Arabia but the apparent coordination of the blasts suggests jihadis have the tools to sustain their bombing campaign. Before dawn the same day a 34- year-old Pakistani driver had blown himself up in a car park outside the U.S. consulate in Jeddah but only injured two...

  • Oil Production

    Credit Suisse's David Hewitt explains how various Brexit scenarios might impact oil demand.

  • Oil, terror & Saudi Arabia

    Helima Croft, RBC Capital Markets Global Head of Commodity Strategy, discusses Saudi Arabia as the U.S. surpasses it in oil reserves and the recent suicide attacks marking the end of the holy month of Ramadan.

  • US oil reserves top both Saudi Arabia and Russia

    The US now holds more reserves than other countries for the first time with recoverable oil totaling 264-billion barrels.

  • Saudi policemen stand guard at the site where a suicide bomber blew himself up in the early hours of July 4, 2016 near the American consulate in the Red Sea city of Jeddah.

    Suicide bombers struck three cities across Saudi Arabia, killing at least four security officers in an apparently coordinated campaign.

  • Oil worker Ohio

    Oil prices rose following comments from the Saudi energy minister, but signs of slowing demand in Asia weighed.

  • Smoke billowing from the US consulate in the Saudi Red Sea city of Jeddah 06 December 2004, Gunmen stormed the US consulate in Jeddah today, killing four guardsmen and seizing local staff in a hail of gunfire in the latest attack against foreigners in the oil-rich kingdom.

    A suicide bomber was killed and two other people wounded in a blast outside the U.S. consulate in Jeddah early on Monday, state TV said.

  • Paramedics push out a stretcher after a reported Turkey's largest airport, Istanbul Ataturk

    It's been a bloody Ramadan, with terrorist attacks killing and wounding hundreds of people around the world, The NY Times reports.

  • *Q1 growth rate of 1.5 pct y/y may be revised lower. *Oil sector unlikely to provide same support in coming quarters. DUBAI, July 3- Saudi Arabia's economy expanded at its slowest rate in three years during the first quarter of 2016 as low oil prices forced the government to cut spending and raise costs for industry, official data showed on Sunday.

  • DUBAI, June 30- State-controlled utility Saudi Electricity Co has obtained $1.5 billion in financing from Industrial and Commercial Bank of China, one of the largest loans ever extended by a Chinese bank in the Gulf. In January, China and the six Gulf Cooperation Council nations said they aimed to conclude a free trade agreement this year. Since it opened a branch...

  • RIYADH, June 29- Saudi Arabia's L'azurde Company for Jewellery, which surged on its trading debut in Riyadh on Wednesday, plans to almost double the number of its branches in the Middle East and North Africa by 2018.. "In the Gulf, there are opportunities I would say primarily in Qatar, the United Arab Emirates and Kuwait," he said, adding the company was looking to also...

  • BEIJING, June 29- Saudi and Japanese officials will hold meetings on Wednesday to discuss Japanese investment into the planned initial public offering of a small part of Riyadh- controlled Saudi Aramco, said Khalid Al-Falih, the kingdom's energy minister. "We have a great relationship with energy companies in Japan and also financial institutions," Saudi's...

  • DUBAI, June 28- Saudi Arabia has begun talks with Six Flags Entertainment Corp to build theme parks, the company said on Tuesday, as part of the kingdom's efforts to expand its tourism sector and diversify the economy. Chief Executive John Duffey said in a television interview last week that Six Flags, which operates 18 parks in North America, wanted to open a park in...

  • President Barack Obama (L) and Britain's Prime Minister David Cameron play table tennis at Globe Academy on May 24, 2011 in London, England.

    The U.K. has been America’s closest ally, but Brexit changes everything. The US will be forced to find a new dance partner, says Philippe LeCorre.

  • A man looks at global rates at a currency exchange on June 24, 2016 in New York.

    Brexit has unleashed uncertainty for months and years to come in the foreign exchange markets, says Keith Underwood. Here are the winners and losers.

  • Larry Summers

    Former Treasury Secretary Larry Summers says Brexit after-effects on the world will depend "heavily on psychology."

  • John Kilduff

    Brexit with benefits: Don't miss out on the bargains in the U.S. equity market that have come courtesy of the British electorate, says John Kilduff.