Business News Saudi Arabia

  • MONTREAL, March 22- SNC Lavalin Group's chief executive said on Friday the company is looking at ways to protect its business in the event it loses a corruption trial that has created a political crisis for Canadian Prime Minister Justin Trudeau. An SNC-Lavalin board subcommittee is weighing the construction and engineering company's options as it takes "...

  • An offshore oil rig off the coast of Norway.

    Oil fell, slipping further from 2019 highs as focus shifted to a lack of progress in U.S.-China trade talks and as grim manufacturing data from Germany and the U.S. reignited fears of a slowdown.

  • LONDON, March 21- U.S. trade policies caused significant shifts in the composition of the country's aluminum imports last year. The stand-out in terms of primary metal was the sharp drop in imports from Russia, reflecting the imposition of sanctions on Oleg Deripaska and his Rusal companies. China was hardest hit in the semi-manufactured products segment of...

  • LONDON, March 21- U.S. trade policies caused significant shifts in the composition of the country's aluminium imports last year. The stand-out in terms of primary metal was the sharp drop in imports from Russia, reflecting the imposition of sanctions on Oleg Deripaska and his Rusal companies. China was hardest hit in the semi-manufactured products segment of...

  • Belarusian and Russian national flags are seen at the construction site of the very first Belarusian nuclear power plant, which will have two power-generating units, near the town of Ostrovets, Belarus October 10, 2018.

    The Trump administration is preparing a new push to help U.S. companies build the next generation of nuclear power plants overseas.

  • Oil pumpjacks in the Permian Basin oil field are getting to work as crude oil prices gain.

    Tightening U.S. stockpiles, OPEC production cuts and American sanctions on Iran and Venezuela support oil prices.

  • *Qatar calls on IAEA to create regional safety framework. PARIS/ ABU DHABI, March 20- Qatar has called on the International Atomic Energy Agency to intervene in a dispute over a $24 billion nuclear power plant which the United Arab Emirates is building. Relations between Qatar and its neighbour are already strained after the UAE, Saudi Arabia, Egypt and Bahrain...

  • The cargo will be exported from Enterprise's Houston terminal. The auction comes as the United States heads towards becoming a net exporter of crude and refined fuels consistently after surpassing Saudi Arabia and Russia last year as the world's biggest oil producer. From the Permian Basin, Enterprise transports crude oil to Houston through the...

  • *Qatar calls on IAEA to create regional safety framework. PARIS/ ABU DHABI, March 20- Qatar has called on the International Atomic Energy Agency to intervene in a dispute over a $24 billion nuclear power plant which the United Arab Emirates is building. Relations between Qatar and its neighbour are already strained after the UAE, Saudi Arabia, Egypt and Bahrain...

  • Workers at its Remuda lease near Carlsbad- part of a staff of 5,000 spread across New Mexico and Texas- are drilling wells, operating fleets of hydraulic pumps and digging trenches for pipelines. The sprawling site reflects the massive commitment to the Permian Basin by oil majors, who have spent an estimated $10 billion buying acreage in the top U.S. shale field...

  • *35,000 jobs expected, $32 billion GDP contribution. RIYADH, March 20- Saudi Arabia is targeting up to $20 billion of investments through 2035 for a planned landmark tourism destination and will hold a global investor roadshow before the end of the year, the head of the project told Reuters. Amr Madani, chief executive of the Royal Commission for al-Ula, said in an...

  • A view of Riyadh, Saudi Arabia.

    Saudi Arabia will be pumping $23 billion into a massive beautification project for its capital Riyadh, its government has announced.

  • March 20- Saudi Arabia's stock market dropped on Wednesday as its banks fell, while most major Gulf markets also slid, mirroring global cues ahead of a decision by the U.S. Riyad Bank slipped 1.8 percent as the lender traded ex-dividend, while Saudi's largest lender National Commercial Bank shed 1 percent. The kingdom's largest food products company Savola...

  • LONDON, March 19- Investors seem to be betting history will repeat itself, with the Federal Reserve cutting interest rates to keep the U.S. expansion going, just as it did in 1998, producing one final bull run in oil and equity markets. Prompt reductions helped to ensure the U.S. economy continued expanding for another 30 months before finally entering recession...

  • LONDON, March 19- Investors seem to be betting history will repeat itself, with the Federal Reserve cutting interest rates to keep the U.S. expansion going, just as it did in 1998, producing one final bull run in oil and equity markets. Prompt reductions helped to ensure the U.S. economy continued expanding for another 30 months before finally entering recession...

  • A truck used to carry sand for fracking is washed in a truck stop in Odessa, Texas.

    U.S. sanctions against Iran and Venezuela are boosting prices, but traders say rising American output may cap gains.

  • A worker walks through an oil production facility owned by Parsley Energy in the Permian Basin near Midland, Texas, August 23, 2018. 

    Oil prices were near 2019 highs on Tuesday, supported by supply cuts led by producer club OPEC and U.S. sanctions against oil producers Iran and Venezuela. However, traders said the market may be capped by rising U.S. output.

  • RIYADH, March 18- The influence of Saudi Arabia's Bin Laden family on its eponymous construction business has been curtailed in a restructuring that follows an anti-corruption crackdown by Riyadh, a document seen by Reuters shows. Saudi businessman Khalid Nahas has been named chairman of the newly-established Binladin Group Global Holding Company, which...

  • DUBAI/ RIYADH, March 18- Saudi Binladin Group's chief financial officer, Klaus Froelich, has resigned, two sources familiar with the matter told Reuters on Monday, following a restructuring of the construction giant under Riyadh's anti-corruption campaign.

  • RIYADH, March 18- The influence of Saudi Arabia's Bin Laden family on its eponymous construction business has been curtailed in a restructuring that follows an anti-corruption crackdown by Riyadh, a document seen by Reuters shows. Saudi businessman Khalid Nahas has been named chairman of the newly-established Binladin Group Global Holding Company, which...