Saudi Arabia Financial News

Shares of American electric vehicle company, Lucid Group (NASDAQ:LCID) are down almost 4% following the release of their 3Q production and delivery numbers Tuesday.

(Reuters) -Lucid Group posted a near-4% sequential increase in deliveries for the third quarter after the electric-vehicle maker offered a promotional price to aid demand for its Air luxury sedan.

Newgen Software Technologies, a small-cap IT stock, finished Tuesday's session strongly with a gain of 11.37% at ₹1,041.40. The stock hit an all-time high of ₹1,060 during the trade. This impressive performance followed the company's strong financial results for the quarter ending in September.

Inflows to U.S.-listed emerging market ETFs that invest across developing nations as well as those that target specific countries totaled $228 million in the week ended Oct. 13, compared with losses of $3.1 billion in the previous week, according to data compiled by Bloomberg.

Last week, the FTX court saga had elements of a TV drama, with Sam “SBF” Bankman-Fried’s former business associate and girlfriend, Caroline Ellison, sharing some shocking stories about SBF’s rule over the company. Ellison admitted to fraud during her time as CEO at Alameda under Bankman-Fried’s direction. However, she blamed the misuse of FTX user funds directly on SBF, claiming he “set up the systems” that led to Alameda taking roughly $14 billion from the exchange.

bond sale, a document showed, the first high-profile debt issue from the region since last week's Israel-Hamas conflict unsettled regional markets. The Public Investment Fund (PIF) plans to issue a dollar-denominated Islamic bond, and mandated Citi, HSBC, JPMorgan and Standard Chartered Bank to arrange a series of investor calls starting on Monday. It will be the PIF's second international debt issue this year after it raised $5.5 billion from green bonds in February. The plans come as the troubles in Israel have triggered an increase in volatility in the Middle East and North Africa (MENA) region and seen major investment banks such as JPMorgan and Morgan Stanley downgrade their view on the broader region. A European-based investor said markets were closely watching how pricing and demand for the PIF Islamic bond would shape up in days to come, with the issue being seen as a weather vane for sentiment towards fixed income in the Gulf region more widely in the wake of the conflict. The PIF is the chosen vehicle of Saudi Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, to drive an economic agenda aimed at cutting reliance on oil. A dual tranche of 5- and 10-year tenor senior sukuk, or Islamic bonds, will follow the investor meetings, the document seen by Reuters showed.

China's foreign minister condemned Israel's actions for going "beyond the scope of self-defence" and called for it to "cease its collective punishment of the people of Gaza". "(Israel) should listen earnestly to the calls of the international community...

Investing.com — Oil prices slipped lower Monday, consolidating after recent hefty gains as the conflict in the Middle East continued to raise concerns about disruptions in supply from the world’s biggest oil producing region.

Israel-Hamas war. If the war escalates further and spreads to other countries, it will shoot up crude oil prices and also deal a severe blow to the global economy which is already struggling thanks to continuous rate hikes due to a sharp rise in inflation led by the Russia-Ukraine war in the post Covid-19 pandemic world. "Top US officials warned on Sunday that the war could escalate into a wider conflict across the Middle East.

Investing.com — U.S. Secretary of State Antony Blinken seeks to limit the extent of the conflict in the Middle East, while the focus on Wall Street turns to the new quarterly corporate earnings season. Rite Aid has filed for bankruptcy while crude prices consolidate after recent hefty gains.

Ayman Alsayari, Governor of the Saudi Central Bank (SAMA), has warned against the potential dangers and risks of cryptocurrencies and their brokers.

Israel-Palestine conflict. While the US and allies have showed their support to Israel, both China and Russia sided with Palestine.

earlier shared on social media that it had already donated 4,000 meals to hospitals and military units dedicated to Israeli soldiers fighting Hamas. It plans to donate thousands of meals every day to soldiers in the field and in drafting areas, it said.

By Yuka Obayashi and Emily Chow

Oil prices fell on Monday, partly reversing Friday's rally as investors wait to see if the Israel-Hamas conflict draws in other countries, which could drive up prices and deal a fresh blow to the global economy. Brent futures slid 34 cents, or 0.4%, to $90.55 per barrel and U.S.

UEFA EURO 2024 Qualifiers are just around the corner, and football fans worldwide are eager to catch the thrilling matches. The vast appeal of these qualifiers is evident by their extensive broadcast reach, covering regions from Europe to Africa, Asia, Latin America, North America, the Middle East, and Oceania. To help you keep up with the action, here's a list of broadcast partners for several nations: United States: Fox Sports fubo TV TUDN Canada: DAZN Canada TVA Sports Australia: Optus Australia India: Sony Six United Kingdom: Channel 4 S4C Viaplay For our readers outside these major nations, here's a glimpse of where you can watch the qualifiers: Albania: Digitalb, TV Klan Germany: ARD, DAZN, RTL, ZDF Italy: Mediaset, RAI, Sky Italia Spain: TVE Turkey: Saran, TRT United Kingdom: Channel 4, S4C, Viaplay Argentina: ESPN Latin America Brazil: ESPN Brazil – Globo, ESPN Brazil China: Super Sports China Japan: DAZN Japan Saudi Arabia: beIN sports South Africa: Supersport

IMEC) and India-Israel-USA-UAE projects, China has launched dialogue across the region seeking to align BRI with Turkiye's Middle Corridor Initiative. Turkiye had decried IMEC, which is aimed at rivaling BRI in the region and this week's BRI summit in China is expected to witness efforts to align Ankara's Middle Corridor Initiative with BRI. The two sides recently held a high-level dialogue on the issue, ET has learnt. IMEC was announced on the sidelines of the G20 summit here in the presence of leaders of the USA, Saudi Arabia, India and Europe. Trans-Caspian East-West-Middle Corridor Initiative shortly named as 'The Middle Corridor', begins in Turkiye and passes through the Caucasus region via Georgia, Azerbaijan, crosses the Caspian Sea, traverses Central Asia and reaches China, according to a Turkish foreign ministry document.

It is worth noting that Saudi Arabia, Iran and Qatar not only extended their support to Palestine, but also criticised Israel over its treatment of Palestinians. Egypt is also extending its support to Palestine and is also providing humanitarian assistance to Gaza. The nation also condemned any displacement of Palestinians from North Gaza.

Israel-Hamas War: Israel's actions in Gaza have gone «beyond the scope of self-defence» and the Israeli government must «cease its collective punishment of the people of Gaza», China's Foreign Minister Wang Yi said in remarks published Sunday. Wang's remarks, made on a call to his Saudi Arabian counterpart Prince Faisal bin Farhan on Saturday, came as Israel appeared poised for a ground offensive against Hamas militants in Gaza. «Israel's actions have gone beyond the scope of self-defense,» Wang said according to a foreign ministry readout «It should listen earnestly to the calls of the international community and the UN secretary general, and cease its collective punishment of the people of Gaza,» he added in the strongest stance China has expressed so far on the conflict. More than one million people in the northern part of the crowded enclave have been ordered to flee ahead of the expected assault, an exodus that aid groups said would set off a humanitarian disaster.

American aerospace giant Lockheed Martin has secured a contract from the US Navy to manufacture eight Sikorsky MH-60R SEAHAWK helicopters for the Spanish Navy (Navy). These helicopters are equipped with state-of-the-art mission systems and sensors specially designed for anti-submarine and anti-surface warfare.

Also Read: Global oil market sensitive to Israel-Hamas war; Russia ready to boost supplies to Saudi Arabia: Novak Brent futures settled up $4.89, or 5.7 per cent, at $90.89 per barrel. US West Texas Intermediate (WTI) crude gained $4.78, or 5.8 per cent, to $87.69 a barrel. Both benchmarks posted their highest daily percentage gains since April.