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Business Saudi Arabia

  • A sales assistant watches TV sets broadcasting a news report on North Korea's nuclear test, in Seoul, January 6, 2016.

    President Donald Trump told Reuters a major conflict with North Korea is possible, but he prefers a diplomatic outcome. He also shared thoughts on Taiwan.

  • *Among first will be King Faisal Hospital in Riyadh. RIYADH, April 27- The Saudi Arabian government believes it can raise around $200 billion in the next several years by selling stakes in state enterprises ranging from hospitals to airports and grain silos. If achieved, $200 billion of privatisations would transform the Saudi economy by putting large parts in...

  • *Among first will be King Faisal Hospital in Riyadh. RIYADH, April 27- The Saudi Arabian government believes it can raise around $200 billion in the next several years by selling stakes in state enterprises ranging from hospitals to airports and grain silos. If achieved, $200 billion of privatizations would transform the Saudi economy by putting large parts in...

  • RIYADH'S KING FAISAL HOSPITAL WILL BE AMONG FIRST ASSETS OFFERED- VICE MINISTER.

  • *Dubai, Qatar slip to multi month low. *Abu Dhabi weighed down by blue chips. DUBAI, April 27- Shares in two Saudi banks that are in early merger talks moved in opposite directions on Thursday while other regional markets ended the week down as investors had little fresh company earnings and news to reallocate their funds or build positions.

  • April 27- French oil and gas major Total could consider taking a stake in the planned listing of part of Saudi Arabia's Aramco, the company's chief executive said on Thursday. Total CEO Patrick Pouyanne told an oil summit in Paris that it was all premature as the market was still awaiting details on how the initial public offering would be done, but added it could be...

  • *To start pilot listings of foreign firms as soon as 2017. *Wants to become regional center for equity issuance. RIYADH, April 27- Saudi Arabia aims to start listing foreign companies on its stock market as soon as this year as it seeks to become a regional center for equity issuance, said Mohammed Abdullah Elkuwaiz, vice-chairman of the Capital Market Authority.

  • A gas flame is seen in the desert near the Khurais oilfield operated state oil giant Saudi Aramco, about 160 km (99 miles) from Riyadh.

    Saudi forces says that they foiled an attempt from Yemen to blow up an Aramco fuel terminal in the southern Jazan province using an explosive-laden boat.

  • DUBAI, April 26- Two Saudi banks soared on Wednesday after saying they were in initial stages of a merger, helping lift the mood in other lenders while first quarter financial results buoyed the shares of two blue chips in other Gulf countries. On Wednesday Saudi's Alawwal Bank agreed to start talks with Saudi British Bank about a tie-up that could create the...

  • ADGM chair on the influence of the Saudi Arabian economy

    Ahmed Ali Al Sayegh, Abu Dhabi Global Markets (ADGM) chairman, discusses how proximity to Saudi Arabia and the low oil price can benefit his economy.

  • RIYADH, April 25- A glitzy $10 billion financial district in Riyadh hopes to open its first phase for business this year but is struggling with red tape and uncertainty about its ownership, showing the challenges facing Saudi Arabia's economic reforms. The plan to build the King Abdullah Financial District began in 2006, but the project has been plagued by...

  • RIYADH, April 25- A glitzy $10 billion financial district in Riyadh hopes to open its first phase for business this year but is struggling with red tape and uncertainty about its ownership, showing the challenges facing Saudi Arabia's economic reforms. Construction of King Abdullah Financial District began in 2006, but the project has been plagued by...

  • Vessels pass an oil refinery in the waters off the southern coast of Singapore.

    Oil gave up gains on Monday as a rise in U.S. drilling countered expectations that OPEC will extend output cuts until the end of 2017.

  • *Dubai weighed down by profit-taking on Union Properties. *First Abu Dhabi Bank and TAQA buoy Abu Dhabi market. DUBAI, April 24- Saudi Arabian telecoms company Mobily slumped after worse than expected results on Monday, but the market was buoyed by stronger quarterly earnings from the insurance sector, while performance across the rest of the region was mixed.

  • *Dubai weighed down by profit-taking on Union Properties. *First Abu Dhabi Bank and TAQA buoy Abu Dhabi market. DUBAI, April 24- Saudi Arabian telecoms company Mobily slumped after worse than expected results on Monday, but the market was buoyed by stronger quarterly earnings from the insurance sector, while performance across the rest of the region was mixed.

  • KHOBAR, Saudi Arabia, April 24- State oil giant Saudi Aramco has appointed company veteran Motassim al-Maashouq to officially oversee preparations for its initial public offering, industry sources told Reuters. The Saudi government plans to list up to 5 percent of Aramco on the Saudi stock exchange in Riyadh, the Tadawul, and on one or more international...

  • *Restoring public perks could be worth 50- 80 billion riyals. DUBAI, April 23- The decision by Saudi Arabia's King Salman to restore cuts to financial allowances for civil servants and military personnel is being seen as helping the kingdom avoid recession this year while smoothing the path toward economic reforms. On Saturday, Riyadh cancelled that step-- the...

  • DUBAI, April 23- Saudi stocks rose in heavy volumes on Sunday as investors cheered news that King Salman had issued a royal decree restoring financial allowances for civil servants and military personnel, while Egypt fell steeply on profit taking. The move is likely to boost consumption, benefiting the retail and food sectors, according to economists at Riyadh-...

  • *Restoring public perks could be worth 50- 80 billion riyals. DUBAI, April 23- The decision by Saudi Arabia's King Salman to restore cuts to financial allowances for civil servants and military personnel is being seen as helping the kingdom avoid recession this year while smoothing the path toward economic reforms. On Saturday, Riyadh cancelled that step-- the...

  • RIYADH, Saudi Arabia— Saudi Arabia's King Salman has issued a decree reinstating public sector perks after a drop in oil prices forced the kingdom to curb big-ticket spending and implement sensitive austerity measures. The decree, issued late Saturday, states that King Salman is "keen to provide comfort to Saudi citizens" and has reinstated all allowances,...