Saudi Arabia Financial News

Cristiano Ronaldo's Al Nassr will face Al Ahli on Matchday 3 of the 2024/2025 Saudi Pro League. Here is information on how to watch this game live in your nation or on TV. On September 13, Al Nassr FC and Al-Ahli Saudi FC will play in the Saudi Pro League 2024–25 at Al Awwal Park in Riyadh, Saudi Arabia.

External Affairs Minister S Jaishankar on Thursday dismissed the argument that there was no need for «another club» called the BRICS, and said he was struck by the «insecurity» in the developed world over the grouping. During a conversation with Ambassador Jean-David Levitte at Global Centre for Security Policy, a think tank, here, Jaishankar said if the G7 can exist when there is the G20, there is no reason why BRICS cannot. Accounting for 27 per cent of global GDP, BRICS was founded by Brazil, Russia, India and China; later South Africa joined it, and in January 2024, five new countries — Iran, Saudi Arabia, Egypt, UAE and Ethiopia --joined the bloc. «Why the club? Because there was another club! It was called the G7 and you will not let anybody else into that club. So, we go and form our own club,» Jaishankar told to a loud cheer from the audience.

Oil prices took a frightening turn this month, in what one commodities analyst described as “a complete bloodbath.”

Ukraine conflict cannot be resolved on the battlefield, External Affairs Minister S Jaishankar said on Tuesday that Russia and Ukraine have to negotiate, and if they want advice, India is always willing to give. Jaishankar made the comments while responding to questions at the Annual Ambassadors' Conference of the German Foreign Office in Berlin, a day after he held a «useful conversation» with his Russian counterpart Sergey Lavrov on the margins of the India-Gulf Cooperation Council (GCC) foreign ministers' meeting in the Saudi capital. «We don't think this conflict is going to be resolved on the battlefield. At some stage, there's going to be some negotiation. When there is a negotiation, the main parties — Russia and Ukraine — have to be at that negotiation,» he said. Recalling Prime Minister Narendra Modi's visits to Russia and Ukraine, he said that the Indian leader has said in Moscow and Kyiv that this is not an era of war.

An Omani state-run oil and gas company says it will make an initial public offering of its exploration and production business, potentially seeking billions in a major move toward privatization in the sultanate

Jaishankar will on Sunday embark on a six-day visit to Saudi Arabia, Germany and Switzerland with a larger aim to boost overall bilateral ties and deliberate on pressing regional and global challenges. He will first travel to the Saudi capital Riyadh on a two-day trip primarily to attend the first India-Gulf Cooperation Council (GCC) foreign ministers' meeting, according to the Ministry of External Affairs (MEA). The GCC is an influential grouping comprising the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait. The total volume of India's trade with GCC countries stood at USD 184.46 billion in the financial year 2022-23. In Riyadh, Jaishankar is also expected to hold bilateral meetings with foreign ministers of several GCC member countries.

A three-year survey was undertaken in collaboration with a friendly country to verify the presence of the oil and gas reserves, DawnNewsTV quoted a senior security official as saying on Friday. The geographic survey has allowed Pakistan to identify the location of the deposits, and the relevant departments have informed the government of the resources found in Pakistani waters.

Water treatment player VA Tech WABAG has secured an order from Saudi Water Authority worth USD 317 million (Rs 2,700 crore) for setting up a Mega Sea Water Desalination plant in Saudi Arabia, the company said on Friday. The Engineering, Procurement, Construction and Commissioning (EPCC) contract including design and supply of the 300 million litres per day mega desalination plant which would be developed on a greenfield site in the west coast of Kingdom of Saudi Arabia. The Saudi Water Authority, formally known as the Saline Water Conversion Corporation, is responsible for regulating and monitoring water sector business and services to enhance water sustainability and achieve the objectives of Saudi Arabia's Vision 2030. The project is expected to be completed in 30 months and the plant would operate Dual Media Filters followed by a two-pass Reverse Osmosis process and re-mineralisation to produce clean potable water.

Piyush Goyal on Friday said he has invited the steel industry to discuss about the «unfair» competition that some of them are facing to take appropriate steps with a view to promote the sector's growth. Certain steel industry players have raised concerns over rising imports from China at lower rates. «I have invited the steel industry...to understand the unfair competition that some of them are facing and take appropriate measures so that the steel industry remains vibrant, continues to grow and adds jobs to the Indian economy,» Goyal told reporters here. On September 5, he mooted the idea of introducing a border adjustment tax to protect the domestic players by providing a level-playing field against increasing imports.

Blinken said on Thursday it was incumbent on both Israel and Palestinian Islamist group Hamas to say yes on remaining issues to reach a Gaza ceasefire deal, which has faced obstacles in negotiations across months. «Based on what I have seen, 90% is agreed but there are a few critical issues that remain,» including the so-called Philadelphi corridor on the southern edge of the Gaza Strip bordering Egypt, Blinken said at a press briefing in Haiti. He said there were also some gaps in the agreement in how Israeli hostages and Palestinian prisoners are exchanged.

Indigo Paints, Nucleus Software, Venus Pipes, Adani Enterprises, Godfrey Phillips among others will be in focus due to various news developments. Indigo Paints

Ronaldo put his side 2-0 up at the Estadio da Luz in the 34th minute when he got on the end of a Nuno Mendes cross with a tap-in volley from close range, before falling to the ground looking emotional at reaching another milestone. 39-year-old Ronaldo has now netted 131 international goals, 450 for Real Madrid, 145 for Manchester United, 101 for Juventus and 68 for his current club Al Nassr as well as five for his first club Sporting Lisbon.

A top Kremlin official says Turkey has formally applied for a membership in the BRICS bloc of developing economies as Russia and China seek to counter the West's global influence

A senior official has confirmed a report that Turkey wants to join the BRICS bloc of developing economies but fell short of confirming that the NATO country had formally applied for membership

oil exporter Saudi Arabia is expected to cut prices for most of the crude grades it sells to Asia in October after Middle East benchmark Dubai slumped last month, industry sources said on Monday. The October official selling price (OSP) for flagship Arab Light crude is expected to fall between 50 and 70 cents a barrel, three of five refining sources said in a Reuters survey, to track a similar trend for Dubai price spreads last month. Such a price cut would also reflect weak refining margins especially in China where sluggish manufacturing and property sectors are squeezing fuel demand, the sources said.

Pakistan is facing a growing concern over the spread of mpox as Peshawar reports its fifth case this year, raising fears that the city may be emerging as a hub for patients arriving from the Gulf region, The Express Tribune reported. A 47-year-old man who recently returned from the Gulf region has tested positive for the virus and was isolated by Border Health Services staff on August 29. «This is the fifth mpox case reported in Pakistan this year and the fourth since WHO declared mpox a global health emergency,» said Dr. Shabana Saleem, Federal Director General of Health.

Pakistan on Sunday reported another case of monkeypox (mpox) virus amid the confusion about the total number of cases confirmed so far in the country. The fourth case was detected in Khyber-Pakhtunkhwa (KP) province where authorities confirmed three previous infections of the virus. «The medical team at Peshawar airport transferred the patient (fourth case) to the Police and Services Hospital (PSH) after detecting symptoms of the virus during the screening,» KP Health Director Dr Irshad Ali Roghani said. Roghani said the rapid response team took samples from the patient's wound in the hospital and sent it to the laboratory which confirmed mpox in the patient, who was reported in a stable condition.

English Premier League clubs again flexed their financial muscles by spending about $2.6 billion in the summer transfer window that closed Friday for Europe’s five big domestic leagues. And once again Chelsea was first in line with an outlay of $290 million as owners Todd Boehly and Clearlake Capital continue to look for a winning combination at Stamford Bridge. The Saudi Pro League's window remains open for a few more days — enough time for more deals like the one announced early Saturday that will see striker Ivan Toney join Al-Ahli. The Saudi club agreed to pay Brentford a transfer fee reported to be $52 million.

Brainbees Solutions Ltd, the parent firm of baby and mother care product retailer FirstCry, on Friday reported a 17% growth in operating revenue to Rs 1,652 crore for the quarter ended June 30, 2024. For the first quarter of fiscal year 2025, the omnichannel retailer said its net loss stood at Rs 75 crore, against a loss of Rs 110 crore a year ago. The firm saw its gross merchandise value (GMV), a proxy for net sales, grow 17% from a year ago to Rs 2,318 crore in the quarter ended June 30, 2024.

Berkshire Hathaway holding company crossed $1 trillion in market value Wednesday, making it the first non-tech firm on Wall Street to pass the milestone. Buffett, who turns 94 on Friday, has been chair of Berkshire Hathaway since 1970, transforming it from a small textile company into one of the world's most valuable firms, and turning him into one of the world's richest men.

A Swiss criminal court has convicted two top managers of a Saudi oil company facing charges including fraud and money laundering in a scam that swiped at least $1.8 billion from a Malaysian state-owned investment fund