Saudi Arabia Financial News

Responsive Industries, a leading manufacturer of PVC products with a 'buy' rating and a 24-month target price of ₹436 apiece, citing long-term growth opportunities in the vinyl tiles. The target price implies an upside of 44% from the stock's latest closing price of ₹302.

Saudi Arabia signed deals to buy electricity from two large-scale wind farms that are cheaper than natural gas plants, as it aims to rapidly transition to a bigger share of renewables in the power grid. The state-run Saudi Power Procurement Co. this week said it had agreed to purchase power at record-low prices from the wind projects to be developed in the kingdom by Japan’s Marubeni Corp. A combination of state backing and strong wind conditions in the country will help make the green power plants cheaper than fossil fuel alternatives, the head of the Saudi company said. “What’s unique about these projects is they’ve achieved extremely low cost of electricity that is considered the lowest we’ve seen globally,” Mazin Albahkali, chief executive officer of SPPC, said in an interview. “Achieving extremely low tariffs on renewables is definitely helping reduce the cost of power generation in Saudi Arabia.”

Also Read: Viral video: BSF Jawan roasts papad in sand amid severe heatwave; netizens reactBachendri Pal became the first female Indian mountaineer to climb Mount Everest successfully on May 23, 1984. She was born on 24 May 1954.

CNN quoting Saudi news agency SPA.Following tests, King Salman, 88, was found to have inflammation for which he is currently receiving antibiotic treatment in Jeddah.“Deeply concerned about the reports of the health of His Majesty @KingSalman bin Abdulaziz of the Kingdom of Saudi Arabia.

Three years ago, when Ebrahim Raisi won the presidency in a rigged election, some Iranians thought it was a stepping stone to a bigger position. Ali Khamenei, the ageing, ailing supreme leader, did not have long to live; when he died, Mr Raisi would surely aim to replace him. But history has a sense of irony.

Tyson Fury's bout against Oleksandr Usyk has become talk of the town and now the 'The Gypsy King' is ready for the next fight. Fury lost aginst Usyk in a split decision which dealt a blow to the former's chances of becoming undisputed heavyweight champion. Now Fury's promoter Frank Warren has claimed that there will be a rematch against Oleksandr Usyk and they were pushing for the bout to take place in Saudi Arabia in October this year, as per SportsBible report.

Saudi Arabia’s national airline says that it ordered more than 100 new Airbus jets, a reflection of the kingdom’s ambitious drive to lure more tourists

Also Read: Gold price today: MCX Gold falls over half a per cent; what should be your strategy for bullion today? However, Brent crude oil was trading 0.92% lower at $82.94 a barrel, while the US West Texas Intermediate (WTI) crude futures was down 0.80% to $79.16 per barrel. MCX crude oil prices fell 0.41% to ₹6,552.

India's Russian oil imports rose a nine-month high in April after shipments on non-sanctioned tankers operated by Russia's largest shipping company Sovcomflot resumed, tanker data obtained from shipping and trade sources showed. Refiners in India briefly stopped importing Russian oil in tankers belonging to Sovcomflot after the company's ships, along with its 14 tankers, were designated by Washington in February as being in breach of Western sanctions. The West has imposed the sanctions against Russia since it invaded Ukraine in 2022 and has enacted price caps on oil and oil products loaded at Russian ports aimed at cutting Moscow's oil revenue that funds the war.

Iran’s president, some clarity is emerging about Tehran’s next steps. The bad news for western capitals and those Iranian activists pushing for change is that there’s little hope of a relaxation of political oppression, or of the antagonism directed at the US and its allies, according to western officials. They see the authoritarian regime as robust enough to carry on its current trajectory after Ebrahim Raisi’s death in a helicopter crash.

death of Iranian executive President Ebrahim Raisi and Foreign Minister Hossein Amirabdollahian in a helicopter crash on May 19 was a highly disruptive event that will test Iran and West Asia, both already in mayhem.

Miners kept Europe’s stock benchmark afloat on Monday after prices for copper and gold surged to all-time highs. Oil held gains as the market watched for any fallout from political ructions in two of the world’s major crude producers.

visit to China and nearly a month after he cancelled his visit to India. Musk's plan to visit India between April 20 and 22 was cancelled at the last moment, and there is no update on Tesla's entry into the Indian market. According to a PTI report, Elon Musk's Tesla is yet to inform India about its plans to enter the country.

In 2018, Chad McGehee opened Side Hustle Brews and Spirits, an Abu Dhabi-branded brewery and distillery with funky camels on its cans and playful names familiar to anyone living in the United Arab Emirates

Tyson Fury has cited a bizarre reason behind his loss against Oleksandr Usyk in Saudi Arabia. While, it was a split decision that went in favour of Usyk, Fury has alleged that judges favoured the Ukrainian boxer out of sympathy for the war-torn country, as per a Fox News report. «You know, his country is at war, so people are siding with a country at war. But make no mistake, I won that fight, in my opinion, and I’ll be back. I’ve got a rematch clause,» Fury was quoted as saying by Fox News.

Hamas raged across the north on Sunday as Israel's leaders aired divisions over who should govern Gaza after the war, now in its eighth month. Prime Minister Benjamin Netanyahu faces criticism from the two other members of his War Cabinet, with his main political rival, Benny Gantz, threatening to leave the government if a plan is not created by June 8 that includes an international administration for postwar Gaza. US national security adviser Jake Sullivan was expected to meet with Netanyahu and other Israeli leaders on Sunday to discuss an ambitious US plan for Saudi Arabia to recognise Israel and help the Palestinian Authority to govern Gaza in exchange for a path to eventual statehood. Netanyahu opposes Palestinian statehood and has rejected those proposals, saying Israel will maintain open-ended security control over Gaza and partner with local Palestinians unaffiliated with Hamas or the Western-backed Palestinian Authority.

AFP, the poolside event showcased Moroccan designer Yasmina Qanzal's collection, which included predominantly one-piece swimsuits in shades of red, beige, and blue. Many models had exposed shoulders, and some displayed partially visible midriffs. “It's true that this country is very conservative but we tried to show elegant swimsuits which represent the Arab world," Qanzal told AFP.

index majors helped the indices rebound from early lows. In today's special trading session, shares of ZEE, Delhivery, Bandhan Bank, JSW Steel, Concord Biotech among others will be in focus due to various news developments and quarterly earnings. ZEE ZEE Ltd has reported a net profit of Rs 13.35 crore for the quarter ended March 2024, compared with a loss of Rs 196 crore in the same quarter of last year.

Infinix GT 20 Pro is equipped with the MediaTek Dimensity 8200 Ultimate processor and offers up to 12GB of RAM. A highlight of the device is its 108MP triple rear camera system. Designed with gamers in mind, the phone features a "cyber mecha" aesthetic and includes a specialized X5 Turbo gaming chip.

₹8,500 crore of capital through either the equity or the debt route even as the metals and mining major declared its interim dividend for the year that will make a dent of ₹4,089 crore in its coffers. Vedanta will issue a dividend of ₹11 per share and has set 25 May as the record date. The company also announced the investment of an undisclosed sum in its Saudi Arabian unit Vedanta Copper International VCI Co.

technology solutions provider Redington Ltd has reported a standalone net profit for the January-March 2024 quarter at Rs 160.57 crore, the company said. The city-based company had registered a standalone net profits of Rs 124.91 crore during the corresponding quarter of previous year. For the financial year ending March 31, 2024, the standalone profit stood at Rs 1,081.24 crore, as against Rs 1,071.88 core registered a year ago.