Saudi Arabia Financial News

10.07 / 03:09

UPS FIVE Reuters Chevron RIG Support Oil eases ahead of China, US data, but OPEC+ cuts support market

Oil prices dipped in early Asian trade on Monday as investors tread cautiously ahead of fresh economic data from top consumers the United States and China this week, while expected crude supply cuts from Saudi Arabia and Russia supported the market. Brent crude futures fell 22 cents, or 0.3%, to $78.25 a barrel by 0107 GMT, and U.S. West Texas Intermediate crude was at $73.57 a barrel, down 29 cents, or 0.4%.

09.07 / 19:27

UBS National stake Saudi National Bank was denied taking 40% Credit Suisse stake -report

VIENNA (Reuters) — Saudi National Bank wanted to increase its stake in Credit Suisse to around 40% from 9.88%, but was prevented from doing so by Swiss regulator FINMA, Blick newspaper reported on Sunday.

09.07 / 19:07

UBS National stake Saudi National Bank wanted 40% stake in Credit Suisse: Report

Credit Suisse's largest shareholder, the Saudi National Bank, wanted to raise its stake to 40% ahead of the Swiss bank's collapse in March, Swiss newspaper Blick reported. The lender, which held just under 10% of Credit Suisse shares, had approached the Swiss government and regulators with a group of investors to inject $5 billion into the beleaguered bank, according to the newspaper, which cited two sources it didn't identify.

09.07 / 19:07

Citi Saudi oil cuts throw last year's standout economy into slow lane

Saudi Arabia's decision to extend its oil production cuts part of a so far largely unsuccessful bid to raise prices may trigger an economic contraction in what was the Group of 20's fastest-growing country last year. It would be a stark turnaround for the $1 trillion economy, which surged almost 9% in 2022, helping Crown Prince Mohammed bin Salman invest tens of billions of dollars in everything from sports to tourism and new cities. The boom was propelled by record crude output of around 10.5 million barrels a day and prices averaging $100 a barrel as Russia's invasion of Ukraine roiled energy markets.

09.07 / 18:53

UPS Target DPIIT identifies 106 firms across sectors from 30 countries under strategic investment targets

PTI. "An outreach was conducted through the ministry and meetings and video conferences are being set up with the leadership of these companies," the news agency quoted an official as saying, who added there is also a plan to engage with people of Indian origin (PIO) under the initiative.

09.07 / 09:35

Target Software Strategic investment targets initiative: DPIIT identifies 106 companies across sectors from 30 countries

DPIIT) has identified as many as 106 companies across sectors from 30 countries under its strategic investment targets initiative, an official said. The initiative is aimed at promoting investments in the country. The initiative was recently discussed during a meeting convened by the Commerce and Industry ministry with industry and exporters.

08.07 / 19:23

UPS FIVE CEO Assurant 3 Takeaways From the OPEC Seminar Every Oil Trader Should Pay Attention to

Author's Publications

08.07 / 14:03

Twitter FIVE Saudi women jailed for Twitter use should be freed: UN panel

Saudi women sentenced to decades in prison over social media use have been held arbitrarily and should be released, according to UN expert findings seen Saturday by AFP. The lengthy jail terms handed down last year to Salma al-Shehab and Nourah al-Qahtani, primarily over Twitter posts criticising the government, have heightened global scrutiny of repression under Crown Prince Mohammed bin Salman, who is trying to rebrand the Gulf kingdom as open for business and tourism. In a report dated June 19 and shared with AFP, the UN's Working Group on Arbitrary Detention, an independent expert panel, determined the women had been held arbitrarily and that «the appropriate remedy would be to release» them.

08.07 / 12:35

Booking India, Pakistan, and PUBG: Husband seeks PM Modi's intervention, asks to send wife and children back

Prime Minister Narendra Modi to send his wife and children back to Pakistan! The Pakistani woman, who reportedly entered India via Nepal, and her Indian partner, both of whom were arrested by the police in connection with her illegal stay in India, were on Friday granted bail by a court in Uttar Pradesh's Greater Noida. Gulam Haider, the husband of Seema Haider, has now made a heartfelt plea to send his wife and children back to Pakistan. According to Business Today, Gulam resides in Saudi Arabia and has released a video appeal requesting the Narendra Modi government's intervention in the matter. Gulam Haider thanked the Indian media for their unexpected support, which helped him locate his wife and children.

07.07 / 19:53

UPS Reuters RIG Morningstar Oil prices week Oil prices up 3% to 9-week high on supply concerns

By Scott DiSavino

07.07 / 19:07

Twitter Aware Gap Racing rights Saudi money could be headed to tennis next. Is it about sportswashing, women's rights or both?

Tennis appears set to follow the path of golf and other sports by doing business with Saudi Arabia and its $650 billion sovereign wealth fund

07.07 / 18:47

Enterprise WTO Concerns raised at WTO over EU's deforestation law

India, Russia and Brazil, on Friday raised concerns over the EU's deforestation law, at the World Trade Organisation. Terming the EU's policy directive «unfortunate», New Delhi said that it will directly harm the economic interests of women and small enterprises.

07.07 / 15:55

FIVE CME Oil prices Weekly Oil prices down after jobs data, but on course for weekly gain

Oil prices inched lower on Friday after U.S. jobs data did little to allay fears of further interest rate hikes, but were on track for their second straight weekly gain after a larger-than-expected fall in U.S. oil stockpiles.

07.07 / 14:55

RIG ICE Crude oil lower; labor market data points to slowing economy

Investing.com — Crude oil prices weakened Friday after softer-than-expected U.S. employment data raised fears that the U.S. economy is weakening even as the Federal Reserve is expected to tighten monetary policy again this year, to the detriment of economic activity.

07.07 / 06:43

Disney Platform Metro Disney+ Hotstar announces new show with Kajol ‘The Trial’

New Delhi: Disney+ Hotstar, the video streaming platform owned by the Walt Disney Co, has announced that its new show, The Trial starring Kajol, will stream on 14 July. Over-the-top streaming platforms are increasingly relying on the innate urge of Bollywood A-listers to find an audience and reach out to the masses, to expand their subscriber base, said media experts.

07.07 / 03:57

NIFTY SENSEX open Rupee falls 17 paise to open at 82.68 against the US dollar

rupee depreciated by 28 paise to end at 82.51 against the American currency. Investors will now focus on the crucial US non-farm payrolls (NFP) data to be released later in the day.

07.07 / 02:29

COST FIVE Oil prices Oil prices steady as rate hike fears offset signs of tightening supply

Oil prices were largely unchanged on Friday, but set to post weekly gains, as fears of higher U.S. interest rates that could dampen energy demand were offset by signs of tighter supply after a larger-than-expected fall in U.S. oil stocks.

07.07 / 02:01

UPS Target Manufacturing Platform Pool Indian Modi’s push to take Indian rupee global gets off to a slow start

India’s year-old campaign to boost the rupee’s role in cross-border payments has made little headway, according to people familiar with the matter, underscoring the challenges for countries trying to reduce their dependence on the dollar. The Reserve Bank of India has allowed more than a dozen banks to settle trades in rupees with 18 countries since last year and is encouraging big oil exporters such as the UAE and Saudi Arabia to South Asian nations to accept the Indian currency for trade settlements.

06.07 / 18:35

COST UPS Lowe's week Oil marketers’ shares hit 52-week highs on margin hopes

₹8-9 a litre in Q1. Moderation in both crude costs and softer product prices are likely to benefit OMCs’ marketing earnings in Q1, they said. The OMCs are being allowed to recover their losses on marketing during a high crude price environment.

06.07 / 14:15

UPS Strategy FLEX Power Grab War chest: Saudis set for global sports power grab

Dubai | London | Saudi Arabia plans to launch a multibillion-dollar investment company to expand its sports interests following its power grab in golf and success in English soccer, according to two people familiar with the matter.

06.07 / 06:25

UPS Lowe's MET Citizens Merit mk Are OMCs in a sweet spot? MK Surana answers

«Now, whether there is a right time to cut the prices or not when the crude prices were going up, when the prices were not increased, there were definitely a strain on the oil marketing companies. And I think that it is logical for them to recover if they had some sort of under-requirements which they had obviously,» says MK Surana, Former CMD, HPCL.With crude now largely settling around the $75 to a barrel mark, is it really time for OMCs to cut prices? And is there merit in believing that they are now in a sweet spot?First, it is a good thing for the country and for the OMCs that the oil prices are benign, in spite of some sort of production cuts announced even just yesterday by Saudi and some sort of export restriction by Russia.

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