Saudi’s Minister of Finance refuses to talk about pre-budget statement
Saudi Arabia’s Minister of Finance Mohammed Al-Jadaan refused to talk about the 2023 pre-budget estimates during a press conference on Monday. Saudi Arabia published its preliminary 2023 pre-budget statement last Friday. The Kingdom estimated public revenue in 2023 budget at SR1,123 trillion, and expenditures at SR1,114 trillion, with an expected surplus of SR9 billion. […]
OPEC+ heads for deep supply cuts, clash with U.S.
VIENNA/LONDON – OPEC+ looks set for deep oil output cuts when it meets on Wednesday, curbing supply in an already tight market despite pressure from the United States and other consuming countries to pump more. The potential OPEC+ cut could spur a recovery in oil prices that have dropped to about $90 from $120 three […]
Saudi: Al Babtain Food unveils final offering price for Nomu listing
Abdulaziz & Mansour Ibrahim Albabtain Company (Al Babtain Food) set the final price of its offering on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) at SAR 77 per share. Yaqeen Capital, the financial advisor and lead manager for the offering, noted that the firm concluded the book-building process, which was oversubscribed […]
Saudi Arabia agrees ‘memorandum of cooperation’ with Britain in energy sector – SPA
Saudi Arabia’s cabinet agreed on Tuesday on “a memorandum of cooperation” with Britain in the energy sector, Saudi state news agency SPA reported citing a cabinet statement. There were no further details mentioned in the statement. Reuters News
Saudia celebrates 70 years of flying to Bahrain
Saudi Arabian Airlines (Saudia), the national flag carrier of Saudi Arabia, has celebrated 70 years of flying to Bahrain. Saudia launched services to Bahrain International Airport in 1952, and today operates an average of three flights a day to the Saudi cities of Jeddah and Riyadh. Commemorating the platinum anniversary, Saudia operated special flights from […]