Edition:
United Kingdom

Saeed Azhar

Goldman Sachs bought Commerzbank's claim in Saudi's biggest debt saga - sources

14 May 2019

DUBAI Goldman Sachs has bought a claim against The International Bank Corporation (TIBC), a Bahraini bank whose default 10 years ago triggered the biggest financial crisis in Saudi Arabia, three sources familiar with the matter said.

Saudi sovereign fund invests indirectly in Arabian Centers IPO: sources

10 May 2019

DUBAI Saudi Arabia's Public Investment Fund (PIF), the kingdom's sovereign wealth fund, has indirectly invested in the $747 million initial public offering of mall operator Arabian Centers, sources familiar with the matter said.

Arabian Centres to raise $747 million after pricing IPO at bottom of range

08 May 2019

DUBAI Saudi mall operator Arabian Centres is set to raise as much as 2.8 billion riyals ($747 million) after pricing its initial public offering (IPO) at the bottom of its indicative range, according to a company document.

Former Abraaj executive gets bail in New York in fraud case

30 Apr 2019

NEW YORK/DUBAI A U.S. district court has granted bail to a former managing partner of collapsed private equity firm Abraaj, Mustafa Abdel-Wadood, on condition that he sign a $10 million bond and remain confined to a New York apartment, court documents showed.

Arabian Centres to raise up to $836 million in Saudi's biggest IPO since 2014

28 Apr 2019

DUBAI Saudi Arabian mall operator Arabian Centres Co could raise up to $836 million at the top end of the price range for its initial public offering (IPO), the sale prospectus showed on Sunday.

Saudi wealth fund 'not in a hurry' to issue bonds, considers funding options

25 Apr 2019

RIYADH Saudi Arabia's sovereign wealth fund Public Investment Fund (PIF) is "not in a hurry" to issue bonds but is assessing several funding options, an executive said on Thursday.

Saudi Arabia considers relaxing ownership limits for foreign investors

25 Apr 2019

RIYADH Saudi Arabia's Capital Market Authority (CMA) is considering relaxing a 49 percent limit for foreign strategic investors in shares of listed companies due to increased demand, its chairman said on Thursday.

Saudi's Falih sees no need for swift output action after Iran oil waivers end

24 Apr 2019

RIYADH Saudi Arabia's energy minister said on Wednesday he saw no need to raise oil output immediately after the United States ends waivers granted to buyers of Iranian crude, but added that the kingdom would respond to customers' needs if asked for more oil. | Video

Saudi Arabia reports first quarterly budget surplus since 2014

24 Apr 2019

RIYADH Saudi Arabia's finance minister said on Wednesday the kingdom recorded a budget surplus of 27.8 billion riyals ($7.41 billion) in the January-March period, its first since oil prices plunged in 2014.

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