Saudi Arabia Archives

OPEC meet maintains status quo

International Finance DeskJune 3, 2016

by International Finance DeskJune 3, 2016

Oil output levels won’t change; members say market should influence price IFM Correspondent June 3, 2016: The price of oil rose slightly despite OPEC producers failing to come up with a solution to curb output at their meeting on Thursday. Brent crude on Thursday ended at $49.94 a barrel, 0.4% higher. The new oil minister...

Economy

Saudi is having a bearish impact on oil prices

International Finance DeskMay 27, 2016

by International Finance DeskMay 27, 2016

Kinan Khadam-Al-Jame Is defending market share and simultaneously ushering changes at home to avoid political unrest May 27, 2016: Historically, kings of Saudi Arabia don’t accede the throne until late in life. However the current ruler, King Salman Al-Saud has upset the established formula of ‘rule by elder’ by giving unprecedented power to his son...

Economy

Saudi Arabia gets its first women business park

International Finance DeskMay 18, 2016

by International Finance DeskMay 18, 2016

Aim is to create 21,000 jobs by 2025 IFM Correspondent May 18, 2016: With the aim of encouraging women to come forward and contribute to the Kingdom’s growth, Saudi Arabia has launched its first women’s business park in Riyadh. The park is expected to create about 21,000 jobs by 2025. It will serve as an...

Economy

Saudi announces Vision 2030 to transform its economy

International Finance DeskMay 13, 2016

by International Finance DeskMay 13, 2016

The aim is to make a smooth transition away from dependency on oil revenue Suparna Goswami Bhattacharya May 13, 2016: With oil price continuing to show no signs of improvement, it is no secret that oil dependant nations have to think of alternatives to run their economy. The Kingdom of Saudi Arabia recently announced a...

Business Leaders

Saudi oil minister removed after 20 years in the job

International Finance DeskMay 12, 2016

by International Finance DeskMay 12, 2016

He has been replaced by Khaled al-Falih, who heads Saudi Aramco IFM Correspondent May 12, 2016: After announcing reforms to overhaul the economy in April, Mohammed bin Salman, the deputy Crown Prince of Saudi Arabia announced a government shake-up. The Prince announced the removal of veteran oil minister Ali al-Naimi. He has been removed after 20...

Economy

Will falling oil prices drive global economy into a crisis?

International Finance DeskFebruary 8, 2016

by International Finance DeskFebruary 8, 2016

An analysis by the Corporates & Markets division of Commerzbank AG February 8, 2016: If the oil price slumps, the stock prices plunge: Cheaper oil is clearly now regarded as negative, unlike in earlier times. We assess whether the economic correlations have really changed. Our analysis shows that a falling oil price is not always an...

Economy

Saudi looks to austerity measures to cut losses

International Finance DeskJanuary 25, 2016

by International Finance DeskJanuary 25, 2016

Government is seeking advice from experts on downsizing budget Suparna Goswami Bhattacharya January 25, 2016: Saudi Arabia has reveled in its oil-rich economy for years, but is finally feeling the pressure of falling oil prices. So much that the government is considering austerity measures. There are enough reasons to think about austerity, especially since the...

Finance Islamic Banking

The global route for Islamic banks

International Finance DeskJanuary 22, 2016

by International Finance DeskJanuary 22, 2016

Revamping IT architecture will be transformative for Islamic banks in 2016 Hans Tesselaar January 22, 2016: One of the fastest growing divisions of the international finance industry today is Islamic banking. The industry, mostly hailing from the Middle East, is estimated to value in excess of $1.48 trillion. Look ahead further into 2016 and we...

Economy

Saudi Arabia cuts diplomatic ties with Iran

International Finance DeskJanuary 5, 2016

by International Finance DeskJanuary 5, 2016

Says Iran has a history of violating diplomatic missions in its country January 5, 2016: Saudi Foreign Minister Adel bin Ahmed Al-Jubeir announced that Saudi Arabia is severing ties with Iran after the embassy attack in Tehran. During a press conference this evening in Riyadh, the foreign minister said that Iranian diplomats and staff have been given 48 hours to leave the Kingdom. Minister Al-Jubeir...

Economy

Challenges of Saudisation

International Finance DeskJuly 13, 2015

by International Finance DeskJuly 13, 2015

To meet demand from industries, the Saudi government is opening colleges and universities to foster skill development among its youth Suparna Goswami Bhattacharya July 13, 2015: For decades now, Saudi Arabia has managed to attract talented expats from around the world. The region, in fact, became a favourite destination for those looking to work outside...