Saudi Arabia Financial News

A multibillion-dollar agreement signed with France’s TotalEnergies could help resolve Iraq’s longstanding electricity crisis

Saudi Arabia’s Public Investment Fund reported a loss on investment activities of about $US11 billion last year compared to a profit of $US19 billion ($16.5 billion) in 2021 as global markets sank.

Gulf Cooperation Council have resumed talks for concluding a free trade agreement which is expected to bring new business opportunities for both sides, a top Indian official said on Wednesday as he expressed hope that the deal would soon become a reality. Secretary (Consular, Passport & Visa and Overseas Indian Affairs) in the Ministry of External Affairs Ausaf Sayeed also shared that India is in discussion with its bilateral partners with regard to alternate payment mechanisms like rupee trading and barter trading «especially under the new circumstances where most countries are facing challenges of foreign currency».

China’s fast expanding economic footprint across the Arab world, with a focus on opportunities in various sectors, including healthcare, retail and infrastructure. The sixth edition of the conference is also aimed at promoting a multidirectional flow of investment and facilitating investment in areas of new opportunities, officials said.

Washington | Saudi Arabia’s sovereign wealth fund has agreed to invest more than $US1 billion ($1.5 billion) in a new commercial entity controlled by the PGA Tour, and Greg Norman will be ousted as the CEO of LIV Golf if the business deal between the Saudis and the tour is finalised, a tour executive told US Congress on Tuesday (Wednesday AEST).

Investing.com — Stocks closed higher on Tuesday led by a jump in energy and big tech as investors awaited a duo of inflation reports later this week.

When U.S. investors like Chicago-based Harris Associates started bailing from troubled Credit Suisse earlier this year, one giant global investor doubled its holdings to become the bank’s second-biggest shareholder after the Saudi National Bank.

Investing.com — Crude oil prices gained Tuesday, helped by growing expectations of more stimulus in China, the largest importer of crude in the world, as well as bullish OPEC comments regarding future demand.

Nvidia(NASDAQ:NVDA) first-quarter earnings report completely changed Wall Street’s perception of the ongoing generative AI revolution. The chipmaker offered a monstrous guidance that topped analyst expectations by over 50%.

Noting that India has been a melting pot of cultures and religions that have co-existed in harmony for centuries, National Security Advisor (NSA) Ajit Doval Tuesday said Islam occupies a unique and significant "position of pride" amongst the religious groups in the country. The NSA was speaking at an event at the India Islamic Cultural Centre in New Delhi.

National Security Advisor Ajit Doval on Tuesday said India has been a melting pot of cultures and religions that have co-existed in harmony for centuries, and Islam occupies a unique and significant «position of pride» amongst the religious groups in the country. Doval's remarks came during an event here at the India Islamic Cultural Centre where Muslim World League Secretary General Sheikh Dr Mohammed bin Abdulkarim Al-Issa, who is on an India visit, also addressed the gathering. Doval hailed Al-Issa as an authentic global voice of moderate Islam and a profound scholar with a deep understanding of Islam. Hailing the «excellent» relations between India and Saudi Arabia, Doval the ties were rooted in shared cultural heritage, common values and economic ties. «Our leaders share a common vision for the future and have been closely interacting with each other,» the National Security Advisor said. In his remarks, Doval said India as the world's largest democracy and the mother of democracies is a land of incredible diversity.

Saudi Arabia has deposited $2 billion into Pakistan’s central bank, a much-needed financial boost ahead of a critical meeting of the International Monetary Fund on the new bailout package for the cash-strapped South Asian country

A U.N. envoy says sporadic armed clashes between Yemen’s Houthi rebels and government forces are straining peace efforts, and the rivals are now also battling over revenue from ports, trade, banking and natural resources

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

By Arathy Somasekhar and Sudarshan Varadhan

Investing.com-- Oil prices rose in Asian trade on Tuesday, buoyed by the prospect of supply cuts in the world’s largest crude producers, while expectations of more stimulus measures in major importer China also helped support sentiment.

When the PGA Tour viewed the Saudi-backed LIV Golf league as an existential threat, it counted politicians among its most prominent allies. A Senate hearing on Tuesday will be a public gauge of how dramatically and quickly that support transformed into antagonism. Tour officials will appear before the Senate’s Permanent Subcommittee on Investigations for a first hearing on the agreement between the Tour and Saudi Arabia’s sovereign-wealth fund—a pact between bitter enemies that shocked the golf world and quickly drew the ire of Capitol Hill.

Syria’s Information Ministry has revoked the BBC’s media accreditation over alleged bias

Investing.com — Crude oil prices retreated Monday, handing back some of the previous week’s strong gains after weak inflation data out of China increased concerns about an economic slowdown in the world’s largest crude importer.

By Noah Browning

rupee depreciated 23 paise to close at a six-week low of 82.74 against the US dollar amid worries over more interest rate hikes by the Federal Reserve. Investors will focus on US inflation data for June that is due on Wednesday.