Saudi Arabia Financial News

By Laura Sanicola

Liverpool and Bayern Munich are against each other in a pre-season friendly match at the Singapore National Stadium on August 2, 2023. Both teams will use the opportunity to assess new signings and gain crucial match minutes ahead of the upcoming season.

Oil prices rose more than 1% on Wednesday, trading near their highest since April, after industry data showed a much steeper-than-expected draw last week in crude oil inventories in the U.S., the world's biggest fuel consumer.Brent crude futures for October rose 92 cents, or 1.1%, to $85.83 a barrel by 0001 GMT, while U.S. West Texas Intermediate crude climbed 84 cents, or 1.03%, to $82.21 a barrel. Both benchmarks settled lower on Tuesday, breaking a three day streak of gains.

Saudi Arabia said it would grant $1.2 billion of financial aid to Yemen’s internationally recognized government in a bid to buoy the country's struggling economy

Tiger Woods has joined the PGA Tour policy board for the first time in his 27 years on tour

Mint has learnt. This would enable New Delhi to pitch its ‘India Stack’— digital solutions implemented at population-scale to deliver social benefits—to the developing world. New Delhi hopes that this in turn will make Indian platforms the benchmark for the global development of DPIs and cement its place as a key technology-partner amid a worldwide move toward digitalization.

₹4,250 per tonne from ₹1,600, while diesel now faces a levy of ₹1 per litre (as against nil earlier), according to a new government notification. As crude oil prices—which have hit a three-month high—look set to boost the profits of Indian refiners again, the Centre seems keen to get its pound of flesh. The question, though, is whether the levy should exist at all.

Investing.com — Crude oil prices retreated Tuesday, handing back some of last month’s strong gains on worries about slowing global growth, while strength in the dollar also weighed.

Investing.com — Crude oil prices rose Monday, on track for the biggest monthly gains in over a year on expectations of a further tightening in supply as well as U.S. growth optimism.

General Pension and Social Security Authority (GPSSA) of the UAE has launched a unified campaign aimed at raising awareness on the insurance protection extension system for registered GCC or Gulf Cooperation Council nationals employed in the UAE. GCC is an economic alliance of six Gulf countries — Saudi Arabia, Bahrain, Kuwait, Oman, Qatar, and UAE.

IMF agreement has prevented Pakistan from going into default, at least temporarily, it has also set off a vicious cycle that has happened a few dozen times before in the nation's history, reported The Diplomat. Saudi Arabia made a USD 2 billion deposit into the State Bank of Pakistan (SBP) after the IMF agreement, and the UAE had already committed to making a USD 1 billion contribution.

An escalating dispute over a gas field in the Persian Gulf poses an early challenge to a Chinese-brokered agreement to reconcile regional rivals Saudi Arabia and Iran

Saudi Arabia's gross domestic product (GDP) grew 1.1 per cent in the second quarter, according to government estimates released on Monday, supported by an increase in non-oil activities, although overall growth decelerated sharply from the prior-year period. The Saudi economy grew 8.7 per cent last year, among the fastest in the G-20, as high oil prices boosted revenue and led to the kingdom's first budget surplus in almost 10 years. But most growth forecasts for this year have been revised downwards on lower oil prices and the probability of prolonged oil production cuts. Oil activities declined by 4.2 per cent in the second quarter, year-on-year, weighing on overall growth, although non-oil activities expanded 5.5 per cent, data from the General Authority for Statistics showed. Real GDP growth in the second quarter of last year stood at 11.2per cent, buoyed by an increase in oil activities of almost 23per cent.

New Delhi: Finance Minister Nirmala Sitharaman will move a resolution in parliament on Monday to approve notifications seeking to increase import duty on liquified petroleum gas (LPG), propane and butane by amending the First Schedule of Customs Tariff Act. Mint explains the significance of the move. The government wants to increase import duties on certain products to reduce import bills, protect domestic industries, and generate employment.

Both Hollywood tentpoles were primed for one of history's most epic box-office showdowns. However, surprisingly, both movies have managed to pass the box-office test with flying colours!

(Reuters) — Goldman Sachs (NYSE:GS) on Sunday revised up its global oil demand forecast for the year while sticking to its 12-month Brent price projection of $93 per barrel as higher realized inventories offset the demand boost from a less pessimistic growth outlook.

Quran in front of foreign embassies in Denmark, the country's Foreign Minister Lars Lokke Rasmussen said as quoted by AL Jazeera. In an official statement, Rasmussen condemned the burnings, saying that they are deeply offensive and reckless acts committed by a few individuals.

By Florence Tan

Cristiano Ronaldo is aiming to secure first win as Al Nassr readies to play against Union Sportive Monastirienne this July 31 and Zamalek on August 3. The next-in-queue i.e., Al Nassr vs Union Sportive Monastirienne will be held at King Fahd Sport City Stadium in Ta’if, Saudi Arabia. The stadium can accommodate over 20,000 people. Monastirienne is a relatively unknown quantity in the Arab Club Champions Cup. The Tunisian club has never won the competition, and it is making its first appearance in the group stage since 2017. However, Monastirienne is a well-organized team, and it will be no pushover for Al Nassr.

London | McKinsey chief Bob Sternfels has signalled he plans to run for a second term as managing partner as he rebuilds the consultancy after years of reputational crises and as the firm battles mounting economic and geopolitical challenges.

India is expected to send a senior diplomat to represent the country at a peace summit seeking to find a way to end the conflict between Russia and Ukraine organised by Saudi Arabia in Jeddah in early August, ET has learnt. India, Brazil and South Africa have been invited to attend the meet of 30 nations as part of Saudi efforts to initiate deal between Ukraine and Russia.