Category: Business

Bill allowing U.S. to sue OPEC drawing renewed interest 0

Bill allowing U.S. to sue OPEC drawing renewed interest

NEW YORK/DUBAI (Reuters) – With oil prices hitting fresh four-year highs, long-dormant proposals to allow the United States to sue OPEC nations are getting a fresh look in Congress, though they were once considered...

Saudi Arabia to exclude German firms from government tenders: Spiegel 0

Saudi Arabia to exclude German firms from government tenders: Spiegel

FRANKFURT/RIYADH (Reuters) – Saudi Crown Prince Mohammed bin Salman has ordered that no more government contracts be awarded to German companies, in a sign of continued irritation over Berlin’s foreign policy in the Middle...

Saudi Aramco appoints first woman to the board 0

Saudi Aramco appoints first woman to the board

DUBAI (Reuters) – State run Saudi Aramco, the world’s top oil company, said on Sunday it has appointed five new members to its board including a female executive, a milestone for Saudi Arabia and...

Saudi Arabia launches multi-billion dollar entertainment resort 0

Saudi Arabia launches multi-billion dollar entertainment resort

QIDDIYA, Saudi Arabia (Reuters) – Saudi King Salman and Crown Prince Mohammed bin Salman attended the ground-breaking ceremony on Saturday of a vast entertainment resort that is at the heart of an ambitious strategy...

Saudi privatization program targets $11 billion non-oil revenues by 2020 0

Saudi privatization program targets $11 billion non-oil revenues by 2020

RIYADH (Reuters) – Saudi Arabia aims to generate 35 billion to 40 billion riyals ($9 billion to $11 billion) in non-oil revenues from its privatization program by 2020 and create up to 12,000 jobs,...

U.S. sorghum ship bound for China switches destination to Saudi Arabia: Eikon data 0

U.S. sorghum ship bound for China switches destination to Saudi Arabia: Eikon data

SINGAPORE (Reuters) – A vessel carrying 69,842 tonnes of sorghum from the United States bound for China has switched its destination to Dammam, Saudi Arabia, according to Thomson Reuters Eikon ship tracking data.SINGAPORE (Reuters)...

Saudi-Russia oil alliance likely to undercut OPEC 0

Saudi-Russia oil alliance likely to undercut OPEC

Dubai (AFP) –  Saudi Arabia hopes to bring Russia into the fold of an expanded club of global oil giants to sustain a stable market, leaving OPEC’s role in question, analysts say. The new...

Saudi’s Riyadh airport privatization plans on hold: sources 0

Saudi’s Riyadh airport privatization plans on hold: sources

DUBAI/RIYADH (Reuters) – Saudi Arabia has put on hold privatization plans for King Khaled International Airport in Riyadh, the kingdom’s second biggest airport, sources familiar with the matter said. The Gulf Arab state is...

Saudi Binladin receives multi-billion dollar government loans-sources 0

Saudi Binladin receives multi-billion dollar government loans-sources

DUBAI, April 17 (Reuters) – Saudi Arabia’s finance ministry has provided Saudi Binladin Group with loans of around 11 billion riyals ($2.9 billion) to help turn around the fortunes of the construction giant, people...

First Saudi Arabian-linked banks join al-Gosaibi debt settlement plan 0

First Saudi Arabian-linked banks join al-Gosaibi debt settlement plan

DUBAI (Reuters) – Two Saudi Arabian-linked banks have become the first lenders with ties to the kingdom to sign a debt settlement plan with Ahmad Hamad al-Gosaibi and Brothers (AHAB), the company’s chief executive...

Aramco is world’s most profitable oil company: Bloomberg 0

Aramco is world’s most profitable oil company: Bloomberg

LONDON (Reuters) – Saudi Aramco is the world’s most profitable oil company, Bloomberg reported on Friday, but its huge earnings and cash flows may still fail to justify its desired $2 trillion valuation. Financial...

Stocks on edge, oil soars on escalating Middle East tensions 0

Stocks on edge, oil soars on escalating Middle East tensions

TOKYO (Reuters) – Stocks came under pressure on Thursday as the threat of imminent U.S. military action in Syria rattled investors and sent oil prices to their highest levels since late 2014 on concerns...

Saudi Aramco to build crude oil refinery in India 0

Saudi Aramco to build crude oil refinery in India

NEW DELHI, India Saudi Aramco, the world’s largest producer of crude oil, has decided to buy a 50-percent stake in a $44-billion Indian oil refinery, officials said Wednesday. A memorandum of understanding was signed...