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Saudi Arabia News
Oil hits nearly three-week high as Saudi Arabia to keep output well below cap
Mon, Feb 26, 2018
US energy companies last week added one oil rig, the fifth weekly increase in a row, bringing the total count up to 799, the highest level since April 2015, Baker Hughes energy services firm said on Friday.
OPEC, non-OPEC allies to study long-term oil cooperation in June, says UAE
Tue, Feb 20, 2018
OPEC and non-OPEC oil producers, including Russia, will discuss extending their cooperation for many more years when they meet in June as they seek to avoid major market shocks, the United Arab Emirates` energy minister told Reuters.
Saudi Arabia's central bank signs blockchain deal with Ripple
Thu, Feb 15, 2018
Saudi Arabia`s central bank has signed a deal with US-based Ripple to help banks in the kingdom settle payments using blockchain software, as Gulf regulators begin to explore new forms of financial technology.
Citigroup targets rapid Middle East, Africa growth in 2018
Thu, Feb 08, 2018
Citigroup expects 2018 to be its best year for investment banking in the Middle East and Africa in at least a decade, likely led by Saudi Arabia, a senior executive at the U.S. bank said.
Russia may back Aramco IPO, enhance OPEC ties
Tue, Jan 23, 2018
Sources told Reuters last year Chinese state oil companies were willing to become cornerstone investors in the Aramco IPO which could become the world`s biggest, valuing the firm at up to $2 trillion and raising more than $100 billion.
Saudi to build 9 desalination plants on Red Sea
Sun, Jan 21, 2018
Saudi Arabia plans to build nine desalination plants for more than 2 billion riyals ($530 million) on the Red Sea coast, its environment minister said on Sunday.
FranGlobal eyes $100 mn investments from Gulf investors
Sun, Jan 21, 2018
FranGlobal helps Indian firms set up operations outside the country and also helps scale up brands which already have presence outside India
Saudi Arabia changes Aramco status to joint-stock company: official bulletin
Fri, Jan 05, 2018
The sale of around 5 percent of Aramco, expected to go ahead in 2018, is a centrepiece of Vision 2030, a reform plan to reduce the dependence of the Saudi economy on oil.
Oil market capped as US output fast approaches 10 million bpd
Thu, Dec 21, 2017
Oil prices were stable on Thursday, supported by falling crude inventories in the United States but capped by output that is fast approaching 10 million barrels per day, a level only surpassed by Saudi Arabia and Russia.
Oil prices drop on increased U.S. drilling activity
Mon, Dec 11, 2017
Oil prices fell on Monday, pulled down as the latest rise in the U.S. rig count pointed to a further increase in American production, potentially undermining efforts led by OPEC to tighten markets.
Sale of the century? $300-billion Saudi state sell-off moves slowly
Fri, Dec 01, 2017
Saudi Arabia`s $300-billion privatisation programme was billed as the sale of the century when Crown Prince Mohammed bin Salman unveiled his plan to great fanfare. Nineteen months later, it is moving at a snail`s pace, bankers, investors and analysts familiar with the process say.
OPEC chatroom dead as Qatar crisis hurts Gulf oil cooperation
Thu, Nov 23, 2017
As a six-month-old spat between Saudi Arabia and Qatar deepens, the organisation`s Gulf ministers will have to scrap their tradition of meeting behind closed doors to agree policy before OPEC holds its twice-yearly talks.
Etihad Airways launches 'fly now pay later' scheme
Sat, Sep 23, 2017
Etihad Airways is the first in the Gulf region to offer fully automated online instalment plans after partnering with PayFort, a leading online payment service provider in the Arab world.
Saudi Arabia to introduce new family tax from July 1; here's how it will affect 41 lakh Indians
Wed, Jun 21, 2017
Saudi Arabia will introduce new family tax named as 'dependent fee' of 100 riyals per month for each dependent of foreign nationals and the new tax is set to prove a big financial burden for the Indian expats as about 41 lakh Indians work into the country.
Baby born on Jet Airways plane bags free air tickets for life
Mon, Jun 19, 2017
He is a born frequent flier -- a baby boy, born today 35,000 feet above sea level on a Jet Airways plane from Saudi Arabia to India, has received a free lifetime pass from the airline as his first birthday gift.
Qatar signs $12 billion deal to buy F-15 jets from US
Thu, Jun 15, 2017
Qatar`s Ministry of Defense said on Wednesday the country signed a deal to buy F-15 fighter jets from the United States for $12 billion. The deal was completed despite the Gulf country being criticized recently by U.S. President Donald Trump for supporting terrorism.
Qatar Diplomatic Crisis: Will it affect India's energy needs?
Wed, Jun 07, 2017
About nine countries from Middle East have severed their ties with Qatar for its alleged support to terrorism and following the diplomatic crisis in the country which is the world's largest Liquefied Natural Gas (LNG) exporter, it is going to hurt its business ties with the rest of world including India.
Saudi Arabia, Bahrain, Egypt, UAE cut diplomatic ties with Qatar
Tue, Jun 06, 2017
Saudi Arabia, Bahrain, Egypt, UAE have decided to cut diplomatic as well as air and sea connectivity connections with Qatar. The countries accused Qatar of supporting terrorism. Watch the video for full report. About Zee Business --------------------------
India could invest in Aramco IPO to strengthen ties
Tue, May 23, 2017
"I`m expecting Aramco to be a supplier for a very long time... We discussed the idea with (Saudi energy) minister (Khalid al) Falih in Houston this year. They (Aramco) are interested in the joint venture," Pradhan said in an interview.
Softbank aims to close $100 billion fund for tech sector in 6 months
Sun, May 21, 2017
Japan's Softbank will invest $93 billion in Softbank Vision Fund that will be invested in the technology sector and it expects the total commitment in the company to reach $100 billion in six months.