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Saudi Arabia

Saudi firms cope with austerity but more pain lies ahead


DUBAI Saudi Arabian companies are faring better in an era of austerity than many investors feared, but they face more pain in the coming months as gains from cost-cutting and efforts to improve efficiency become more difficult.

Saudi working on SME bourse rules for early 2017 launch - bourse chief 03 May 2016

RIYADH, May 3 Saudi Arabia is working to finalise the rules for a new stock market dedicated to small and medium-sized businesses that it expects to launch early in 2017, the chief executive of Tadawul, the kingdom's bourse, said on Tuesday.


Saudi plans stock market reforms to draw foreign money 03 May 2016

DUBAI Saudi Arabia announced a string of reforms to its stock market that could attract billions of dollars of fresh foreign money and smooth sales of state assets as the kingdom grapples with damage to its finances caused by low oil prices.


Saudi plans new labor scheme to cut unemployment 03 May 2016

RIYADH Saudi Arabia's government plans a new set of labor quotas and incentives to reduce unemployment as it tries to wean its economy off oil exports, Labour Minister Mufrej al-Haqbani said on Tuesday.


Saudi-Iran split muddies OPEC long-term strategy - sources 03 May 2016

DUBAI/LONDON OPEC has yet to agree on a long-term strategy as Saudi Arabia objects to a proposal from arch-rival Iran that the exporter group aim for tighter control of the oil market, sources said, pointing to deep divisions over the way forward.


Saudi minister confirms warning on proposed U.S. law on 9/11 02 May 2016

GENEVA Saudi Arabia has warned the United States that a proposed U.S. law that could hold the kingdom responsible for any role in the Sept 11, 2001, attacks would erode global investor confidence in America, its foreign minister said on Monday.

Saudi builder Binladin cuts 77,000 jobs, to lay off Saudis -report 02 May 2016

RIYADH, May 2 Major Saudi Arabian construction company Saudi Binladin Group has laid off about 77,000 foreign workers and plans to cut thousands of jobs held by Saudi nationals, a local newspaper reported on Monday.

Saudi Arabia says to provide housing to 100,000 poorer families 01 May 2016

KHOBAR, Saudi Arabia, May 1 Saudi Arabia's government will provide housing for 100,000 low-income families over the next year as part of a reform programme designed to strengthen the economy and reduce its dependence on oil, the Housing Ministry said on Sunday.

Saudi hands over Houthi prisoners as Yemen peace efforts inch ahead - spokesman 30 Apr 2016

DOHA Yemen's Houthi movement said on Saturday its foe Saudi Arabia had handed over 40 prisoners as part of an agreement to quell border fighting as U.N.-backed peace negotiations to end Yemen's civil war crept forward.

Saudis to push oil output higher but won't flood market - sources 29 Apr 2016

RIYADH, April 29 Saudi Arabia's oil output will edge up close to record highs in coming weeks to meet summer demand for power but is unlikely to be pushed to the limit and flood global markets, Saudi-based industry sources said.


Trump, the outrageous outsider, now presumptive Republican nominee

INDIANAPOLIS, Ind. Billionaire reality TV star Donald Trump completed his transformation from long-shot White House candidate to presumptive Republican presidential nominee after his commanding win in Indiana's primary forced his main rival Ted Cruz to drop out of the race | Video