Search Results for: Saudi Arabia
Oil prices boosted by Saudi Arabia pledge to deepen output cut
May 12th, 2020
Oil futures rose on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June in a bid to help drain the glut in the global market that has built up as the coronavirus pandemic ...
New law says: Women in Saudi Arabia will be notified by text message if they are divorced
January 9th, 2019
Women in Saudi Arabia will be notified by text message if they are divorced under a new law designed to protect them from having their marriage ended without their knowledge, the government said on Sunday. The new law, that ...
Saudi Arabia is losing oil market share to Iraq and Iran
April 27th, 2017
Saudi Arabia, the world’s biggest crude exporter, is losing market share to Iraq and Iran as a result of OPEC’s agreement to curb supplies to bolster prices, according to the head of research at Abu Dhabi Investment Authority. “If ...
Oil rises on potential Saudi Arabian output cut extension
April 12th, 2017
Oil prices rose on Wednesday, putting crude futures on track for their longest streak of gains since August 2016, as Saudi Arabia was reported to be lobbying OPEC and other producers to extend a production cut beyond the first ...
Latest Saudi Arabia Tax and VAT updates; No VAT and Tax to pay
April 10th, 2017
No income tax for Saudi citizens, says finance minister Kingdom will keep VAT at 5% until 2020, and impose 50% tax on soft drinks, 100% on tobacco products from Q2 Saudi Arabia has reiterated that citizens will not pay ...
Saudi Arabia wants oil prices to rise to $60 in 2017
March 1st, 2017
Saudi Arabia wants crude oil prices to rise to around $60 a barrel this year, five sources from OPEC countries and the oil industry said. This is the level the OPEC heavyweight and its Gulf allies – the United Arab ...
How Gulf stock markets are in early Monday; Saudi Arabia’s index fell
January 30th, 2017
Major Gulf stock markets were weak in early trade on Monday in response to soft global equities and crude oil prices, although Dubai courier firm Aramex soared on a fourth-quarter earnings beat. Saudi Arabia’s index fell 0.1 percent after ...
Reports suggest the Saudi Arabia’s 2017 budget will include a monthly fee for expat workers
December 22nd, 2016
Saudi Arabia’s 2017 budget will reportedly include a monthly fee for expat workers in the kingdom. Arab News cited local reports as suggesting the fee would likely be a fixed amount of around SAR800 ($213) a month. The publication ...
Saudi Arabia’s 2017 budget may partly solve huge deficit problem
December 15th, 2016
Saudi Arabia’s budget next year is likely to reveal the kingdom has managed to reduce its massive deficit faster than economists predicted. That may allow Riyadh to increase spending and buoy the economy shaken by low oil prices. The ...
Saudi Arabia warns Trump against stopping imports of its oil
November 17th, 2016
Riyadh has warned the incoming US president Donald Trump of consequences if he chooses to stick to his election promise to block Saudi oil imports. During the election campaign, Trump promised to make the US energy sector independent from “our ...