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Business Saudi Arabia

  • LONDON/ DUBAI, April 4- London Stock Exchange's CEO Xavier Rolet is due to meet Saudi officials in Riyadh as part of a visit by British Prime Minister Theresa May, a spokeswoman for the exchange said on Tuesday. Winning a share of the Aramco listing would be a boost for the LSE, which has seen few listings since Britain's vote to leave the European Union and needs to...

  • Several factors are conspiring to keep a lid on oil, and could even send prices sharply lower, John Kilduff tells CNBC.

  • 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.

  • 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 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 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...

  • 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...

  • *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...

  • 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.

  • OPEC members have argued for decades over which of the two they should monitor to gauge compliance with oil-output cuts. This month, Saudi Arabia has thrown a third metric supply- into the debate. On Jan. 1, a deal between the Organization of the Petroleum Exporting Countries and some non- OPEC states to curb production by 1.8 million bpd came into effect.

  • *Tens of billions of dollars of deals signed in China, Japan. RIYADH/ DUBAI, March 22- A tour of Asia by Saudi Arabia's King Salman this month has advanced the kingdom's drive to attract foreign investment and diversify its economy beyond oil exports, but the strategy comes with an expensive price tag. A string of deals in Japan included an undertaking by Toyota Motor...

  • *Deal with Malaysia's Petronas helps diversify Saudi Aramco. SINGAPORE, March 20- Saudi King Salman's lavish tour of Asia, arriving in each country on a golden escalator with 400 tonnes of luggage, had a hardnosed marketing mission- to cement the kingdom's place as leading oil supplier to the world's biggest consumer region. The string of deals inked on his...