Middle East > Saudi Arabia > Stock Market / Finance

Stock Market / Finance in Saudi Arabia

  • Saudi stock market bullish on new heir

    SAUDI ARABIA, 2017/08/28 Saudi Tadawul index surges 4.12 % on news King Salman has named his powerful son prince Mohammed as heir. The Saudi stock market was up four % Wednesday on news that King Salman had named his powerful son as heir and that the exchange had moved closer to joining a major world index. The Saudi Tadawul index, the major in the Middle East, surged 4.12 % in early afternoon trading next Salman ousted his nephew as crown prince and installed his son Mohammed bin Salman.
  • Saudis seek first bank loan in a decade as oil rout hits state coffers

    SAUDI ARABIA, 2016/04/16 Saudi Arabia is seeking a bank loan of between $6-billion (U.S.) and $8-billion, sources familiar with the matter told Reuters, in what would be the initial significant foreign borrowing by the kingdom’s government for over a decade. Riyadh has asked lenders to submit proposals to extend it a five-year U.S. dollar loan of that size, with an option to increase it, the sources said, to help plug a record budget deficit caused by low oil prices.
  • Saudi Arabia little changed, broad rise in Egypt

    SAUDI ARABIA, 2016/01/02 Dec 30 Saudi Arabia's stock index moved sideways early on Wednesday as a negative reaction to austerity measures in the 2016 national budget largely faded, while Egypt rose in a broad-based rally. The Saudi index was flat next 20 minutes of trade. Petrochemical stocks remained weak next sinking on Tuesday in response to gas feedstock price hikes in the budget; Saudi Basic Industries, which said its total annual costs before minority interests would rise around 5 % next year as a result, fell 1.6 %.
  • Saudi Foreign Minister: Record deficit is 'manageable'

    SAUDI ARABIA, 2015/11/01 Saudi Arabian Foreign Minister Adel al-Jubeir touted his country's economic prospects on Saturday, telling a conference that regulatory reform and freer markets were the key to increase and stability in spite of recent turbulence. Addressing the 11th annual Manama Dialogue, a regional security summit hosted by the royal family of Bahrain, al-Jubeir downplayed concerns about the country's budget deficit, which recently hit a record. Before this year, Saudi Arabia to tap the capital markets with sovereign bonds for the initial time in nearly a decade.
  • Saudi Arabia Opening Up its Stock Market

    SAUDI ARABIA, 2015/04/25 The Kingdom of Saudi Arabia (KSA) will open its USD 530 Billion share market to foreign investments in mid-June 2015. This is being keenly viewed by international investors as it will give them access to the major economy in the Middle East. Foreign investors will presently be able to invest in a stock market that is additional representative of the real economy. The KSA’s stock market, The Saudi Tadawul, lists very large conglomerates spanning various verticals in the region, inclunding petrochemical leader Sabic (Saudi Basic Industries Corp.). The market is additional than twice as large as the United Arab Emirates (UAE) and additional than thrice as large as Qatar.
  • No direct impact on Saudi budget from oil slide, says minister

    SAUDI ARABIA, 2014/11/19 The recent plunge in oil prices will not have a direct impact on Saudi Arabia's budget as the kingdom takes precautions to handle all possibilities at the same time as planning its finances, finance minister Ibrahim Alassaf was quoted as saying. Asked by Saudi newspaper Okaz if cheaper oil could have a direct impact on next year's budget or government spending, Alassaf replied, according to the newspaper's Monday edition. "The world oil situation usually in one way or an extra affects nations' revenues and debts, but the kingdom has always been keen on building its budgets on estimates that take all possibilities into consideration," he was quoted as saying but did not elaborate.
  • Israel, UAE, Saudis in huge US arms deal

    ISRAEL, 2013/04/21 The US Department of Defense is nearing the finalization of a $10 billion arms transaction with Israel, Saudi Arabia and the United Arab Emirates, The New York Times reported Thursday. The arms sale is aimed at bolstering defenses against possible next Iranian threats, the statement said.
  • Ministers on Saturday agreed a record budget

    SAUDI ARABIA, 2012/12/30 Saudi Arabia's council of ministers on Saturday agreed a record budget for 2013 with revenues expected to hit $221 billion (167 billion euros), national television Al-Ekhbariyah said.