Saudi National Bank’s third-quarter profit up 18.7%
Saudi National Bank, the kingdom’s biggest lender, said on Sunday its net profit in the third quarter rose 18.7% from the same period year before on higher operating income and lower net impairments for expected credit losses. SNB posted net profit of 4.725 billion riyals ($1.26 billion) in the quarter, up from 3.98 billion riyals […]
Saudi Arabia, China to work together to maintain oil market stability
Saudi and Chinese officials confirmed their willingness to work together to support stability in the international oil market. Prince Abdulaziz Bin Salman, Saudi Arabia’s Minister of Energy, held an online meeting with Zhang Jianhua, National Energy Administrator of the People’s Republic of China. During the video call, both sides confirmed that they […]
Turkey says not right for U.S. to pressure Saudi Arabia over oil output
Turkish Foreign Minister Mevlut Cavusoglu said on Friday it was not right for the United States to pressure Saudi Arabia after OPEC+ oil producers announced production cuts despite U.S. objections. “We see that a country has threatened Saudi Arabia, especially recently. This bullying is not correct,” Cavusoglu said at a news conference in southern Turkey. […]
Egypt to host 2nd edition of Saudi Green Initiative Forum
Saudi Crown Prince Mohammed bin Salman announced the second edition of the Middle East Green Initiative (MGI) Summit and the Saudi Green Initiative (SGI) Forum will be held in Egypt’s Sharm El-Sheikh in November, Al-Arabiya News reported on October 20th. MGI Summit will take place on November 7th and the SGI Forum will be held […]