Saudi Economy
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Saudi Arabia Boosts Wealth Fund With $27 Billion Injection
Saudi Arabia, hurt by low oil prices, has drawn down foreign reserves and cut spending while it funds a budget deficit that reached about 15 percent of gross domestic product last year.
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Billionaire Saudi Prince Sees Currency Depeg As 'Last Resort'
Saudi officials have repeatedly sought to refute speculation on maintaining the currency's peg to the dollar as the country battles slowing growth and slumping oil income.
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Saudi Says Considering Long-Term Investments Worth $100 Billion In India
Saudi Arabia, the world's biggest oil exporter, is looking at investing $100 billion in India in petrochemicals, infrastructure and mining, among other sectors, considering the country's growth potential.
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Saudi Launches New Plan To Attract Investments Worth Over $400 Billion
Saudi Arabia on Monday launched an ambitious programme which it hopes will attract $427 billion in investments in the industrial and logistics sectors, as the OPEC kingpin bids to reduce dependence on oil.
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Four Charts That Show the Impact of Saudi Arabia's New Mega Bank
The merger of two biggest Saudi banks, NCB and Riyad Bank, would create an institution with $182 billion in assets.
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Saudis Trumpet $56 Billion Deals As Conference Ends Amid Partial Boycott
Saudi Arabia said it signed $56 billion of deals at an investment conference this week and expected the United States to remain a key business partner despite a partial boycott of the event over the killing of Saudi journalist Jamal Khashoggi.
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Saudi Move To Ensure "Quality Of Living" Carries $13 Billion Price Tag
A package of handouts to Saudi Arabian citizens to compensate them for cost of living increases will cost the government about 50 billion riyals ($13.3 billion) this year, the information minister was quoted as saying on Sunday
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Saudis To Tighten Curbs On Foreign Workers In Local Jobs Push: Report
The new policy could help the conservative kingdom achieve one goal of economic reforms launched last year to ease joblessness among Saudis from the current 12.1 percent to 9 percent by 2020.
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As Oil Prices Fail To Recover, Expats In Saudi Reminisce Good Old Days
The drop in global oil prices by about half since 2014 left the kingdom with a huge budget deficit and billions of dollars in debt to private firms, chiefly in the construction business.
-
Saudi Arabia Boosts Wealth Fund With $27 Billion Injection
Saudi Arabia, hurt by low oil prices, has drawn down foreign reserves and cut spending while it funds a budget deficit that reached about 15 percent of gross domestic product last year.
-
Will Extend Exit Visas For Indian Workers, Waive Fines On Resident Permit, Assures Saudi Arabia
Saudi Arabia has assured India of addressing difficulties being faced by retrenched Indians who were employed with construction giant Saudi Oger and Saad Group, the Gulf country's leading conglomerate.
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Billionaire Saudi Prince Sees Currency Depeg As 'Last Resort'
Saudi officials have repeatedly sought to refute speculation on maintaining the currency's peg to the dollar as the country battles slowing growth and slumping oil income.
-
Idle Workers, Inevitable Cuts: Ministers Grade The Saudi Economy
The kingdom's post-oil plan is nothing more than window dressing for unpopular austerity measures, the minister said.
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1,100 Retrenched Indians To Return Home After Saudi Government Issues Exit Visas: Foreign Ministry
As many as 1,100 retrenched Indians are expected to return to India in the coming weeks with Saudi government issuing exit visas to the Saad group workers, according to External Affairs Ministry.
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Can 30-Year-Old Saudi Prince Really Transform Saudi Arabia?
The issues facing Mohammed bin Salman - rivalry with a rising Iran, which has bred multiple proxy wars; disaffection among youth and women, who chafe at repressive religious strictures; a bloated government overly dependent on volatile oil prices - bear some resemblance to those Gorbachev confronted.
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Saudi Arabia Boosts Wealth Fund With $27 Billion Injection
Saudi Arabia, hurt by low oil prices, has drawn down foreign reserves and cut spending while it funds a budget deficit that reached about 15 percent of gross domestic product last year.
-
Billionaire Saudi Prince Sees Currency Depeg As 'Last Resort'
Saudi officials have repeatedly sought to refute speculation on maintaining the currency's peg to the dollar as the country battles slowing growth and slumping oil income.
-
Saudi Says Considering Long-Term Investments Worth $100 Billion In India
Saudi Arabia, the world's biggest oil exporter, is looking at investing $100 billion in India in petrochemicals, infrastructure and mining, among other sectors, considering the country's growth potential.
-
Saudi Launches New Plan To Attract Investments Worth Over $400 Billion
Saudi Arabia on Monday launched an ambitious programme which it hopes will attract $427 billion in investments in the industrial and logistics sectors, as the OPEC kingpin bids to reduce dependence on oil.
-
Four Charts That Show the Impact of Saudi Arabia's New Mega Bank
The merger of two biggest Saudi banks, NCB and Riyad Bank, would create an institution with $182 billion in assets.
-
Saudis Trumpet $56 Billion Deals As Conference Ends Amid Partial Boycott
Saudi Arabia said it signed $56 billion of deals at an investment conference this week and expected the United States to remain a key business partner despite a partial boycott of the event over the killing of Saudi journalist Jamal Khashoggi.
-
Saudi Move To Ensure "Quality Of Living" Carries $13 Billion Price Tag
A package of handouts to Saudi Arabian citizens to compensate them for cost of living increases will cost the government about 50 billion riyals ($13.3 billion) this year, the information minister was quoted as saying on Sunday
-
Saudis To Tighten Curbs On Foreign Workers In Local Jobs Push: Report
The new policy could help the conservative kingdom achieve one goal of economic reforms launched last year to ease joblessness among Saudis from the current 12.1 percent to 9 percent by 2020.
-
As Oil Prices Fail To Recover, Expats In Saudi Reminisce Good Old Days
The drop in global oil prices by about half since 2014 left the kingdom with a huge budget deficit and billions of dollars in debt to private firms, chiefly in the construction business.
-
Saudi Arabia Boosts Wealth Fund With $27 Billion Injection
Saudi Arabia, hurt by low oil prices, has drawn down foreign reserves and cut spending while it funds a budget deficit that reached about 15 percent of gross domestic product last year.
-
Will Extend Exit Visas For Indian Workers, Waive Fines On Resident Permit, Assures Saudi Arabia
Saudi Arabia has assured India of addressing difficulties being faced by retrenched Indians who were employed with construction giant Saudi Oger and Saad Group, the Gulf country's leading conglomerate.
-
Billionaire Saudi Prince Sees Currency Depeg As 'Last Resort'
Saudi officials have repeatedly sought to refute speculation on maintaining the currency's peg to the dollar as the country battles slowing growth and slumping oil income.
-
Idle Workers, Inevitable Cuts: Ministers Grade The Saudi Economy
The kingdom's post-oil plan is nothing more than window dressing for unpopular austerity measures, the minister said.
-
1,100 Retrenched Indians To Return Home After Saudi Government Issues Exit Visas: Foreign Ministry
As many as 1,100 retrenched Indians are expected to return to India in the coming weeks with Saudi government issuing exit visas to the Saad group workers, according to External Affairs Ministry.
-
Can 30-Year-Old Saudi Prince Really Transform Saudi Arabia?
The issues facing Mohammed bin Salman - rivalry with a rising Iran, which has bred multiple proxy wars; disaffection among youth and women, who chafe at repressive religious strictures; a bloated government overly dependent on volatile oil prices - bear some resemblance to those Gorbachev confronted.
