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Business Saudi Arabia

  • Qatar and UAE exchange office in Doha, Qatar, June 13, 2017.

    Here's how Qatar can turn its currency woes into a weapon against its neighbors, owrites Breakingviews' Andy Critchlow.

  • RIYADH, Saudi Arabia— Saudi Arabia said Monday its forces had captured and were questioning three members of Iran's Revolutionary Guard who were intending to carry out an attack on a major offshore oilfield in the Persian Gulf. Saudi Arabia's Information Ministry said in a statement the three were onboard a boat carrying a large number of explosives headed...

  • A Saudi Special Forces unit. (File photo).

    An Iranian ministry of interior official said Saudi Arabia's claim that it had detained members of the Iranian military was not correct.

  • DUBAI, June 19- Saudi Arabia's stock market surged on Monday after a regulatory official was quoted as predicting the bourse would enter MSCI's emerging market index sooner than most investors had expected, while the rest of the region was subdued. Mohammed El-Kuwaiz, vice chairman of the Capital Market Authority, was quoted as saying by the Asharq al-Awsat...

  • Saudi Arabia, the United Arab Emirates and Bahrain cut ties with Qatar on June 5 and announced that Qatari residents would have 14 days to leave. They also urged their own citizens in Qatar to leave and threatened imprisonment and fines for anyone who criticizes the measures. Prior to the diplomatic row, Qatari nationals could travel visa-free between Saudi...

  • DUBAI, June 18- Qatar's riyal is being quoted weaker than its peg against the U.S. dollar as Doha grapples with a diplomatic crisis, but that is the result of poor liquidity in the currency market rather than a serious threat to the peg, bankers in the region say. The riyal, officially fixed at 3.64 to the dollar since 2001, has been offered as low as 3.6680 since Saudi...

  • Egypt's Ahmed Elasfar competes with Qatar's Khalid Hassanein during the Men's Karate Kumite +84kg bronze medal match at the Baku 2017 4th Islamic Solidarity Games at the Baku Sports Hall on May 14, 2017.

    Cairo isn't worried about a financial fallout from its rift with Doha, Egypt's Minister of Finance Amr El-Garhy told CNBC on Friday.

  • Why aren't Asian corporates keen on PPP?

    Paddy Padmanathan, president and CEO of ACWA Power, says insufficient policy certainty has contributed to the problem, but things are changing.

  • RIYADH, Saudi Arabia— An investment firm chaired by billionaire Saudi Prince Alwaleed bin Talal has invested $62 million in a Dubai- based ride hailing service called Careem, which rivals Uber in the Middle East. The Kingdom Holding Company announced the roughly 7 percent acquisition of Careem on Thursday, which also gives it a seat on the ride hailing app's...

  • *Dana Gas up on possible buying bystrategic investor. DUBAI, June 15- Stock markets in the Gulf were mixed on Thursday with Qatar and Dubai rising despite a fall in crude oil prices, while Saudi Arabia's decline was cushioned by hopes it will be put on review for possible emerging market status next week. Jassim al-Jubran, senior equity analyst at Riyadh- based...

  • Saudi Arabia and Qatar: The pot calling the kettle black?

    Despite its comments about Qatar, Saudi Arabia has sponsored extreme Wahhabism in Pakistan and other countries, says Peter Sluglett, Middle East Institute, NUS.

  • *Dana says won't redeem $700 mln of maturing sukuk. *UAE firm cites evolution of Islamic finance for move. June 14- A decision by Abu Dhabi- listed Dana Gas to declare $700 million of its sukuk invalid has sent shivers through the Islamic finance industry, raising concern about the safety of sharia-compliant debt instruments in general.

  • DUBAI, June 14- Qatar National Bank, the largest bank in the Middle East and Africa, has seen no significant outflows of deposits since a diplomatic rift started between Qatar and certain other Arab countries, it said on Wednesday. Last week, Saudi Arabia, the United Arab Emirates, Bahrain and Egypt decided to cut diplomatic ties with Qatar and impose stringent...

  • Arab rift with Qatar is causing operational problems, IEA warns

    IEA warns ongoing dispute between several Middle East countries and Qatar is causing "logistical headaches"

  • *Dana Gas down in volatile trade. *Qalaa Holdings pulls back in Egypt. DUBAI, June 14- Most major stock markets in the Gulf rose on Wednesday as shares in Qatar picked up and Saudi Arabian banks rose on expectations for a U.S. interest rate hike later in the day, which Riyadh would most probably imitate.

  • LOS ANGELES— E3, the annual Electronic Entertainment Expo, opened Tuesday in Los Angeles with thousands of video game enthusiasts, analysts and industry representatives in attendance to play and show off the latest technology that will soon be hitting store shelves. "This is like the Mecca of the gaming industry so to be here is like a huge honor to be able to come...

  • *OPEC says group's production up 336,000 bpd in May. *Saudi Arabia leads OPEC effort to tighten oil markets. NEW YORK, June 13- Oil prices settled higher on Tuesday after OPEC detailed supply cuts around the world, but the cartel also said overall production rose in May, and crude stayed well below $50 a barrel despite the modest recovery.

  • *OPEC says group's production up 336,000 bpd in May. *Saudi Arabia leads OPEC effort to tighten oil markets. NEW YORK, June 13- Oil prices edged higher on Tuesday after OPEC detailed supply cuts around the world, but the cartel also said overall production rose in May, and crude stayed well below $50 a barrel despite the modest recovery.

  • The US ambassador to Qatar is leaving her post in the middle of a Persian Gulf crisis

    U.S. ambassador to Qatar Dana Shell Smith announced she is leaving her post just one week after a few nations cut diplomatic ties with Doha.

  • Qatar's Minister of Defence Khalid bin Mohammad Al-Attiyah (R) welcomes U.S. Defence Secretary James Mattis (C) and U.S. Ambassador to Qatar Dana Shell Smith (L) at his residence in Doha, Qatar April 22, 2017.

    U.S. ambassador to Qatar Dana Shell Smith announced she is leaving her post just one week after several nations cut diplomatic ties with Doha.