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RIYADH: The International Finance Corp., a member of the World Bank Group, is open to investing and supporting the fintech sector in Saudi Arabia, as it eyes to expand its existing portfolio worth $8 billion invested in the Kingdom, said a top official. In an exclusive interview with Arab News, Hela Cheikhrouhou, IFC’s regional vice president for the Middle East, Central Asia, → Read More
RIYADH: Financial advisory firm China Renaissance which operates in multiple areas like investment banking, investment management and wealth management has solid plans to expand its presence in the Middle East, as it eyes funding startups, according to its CEO. In an exclusive interview with Arab News, Fan Bao, founder, CEO, and chairman of China Renaissance shared his future → Read More
A former colleague Greg Salomon recently posted this quotation for John Lennon on his LinkedIn account: “There are two basic motivating forces: Fear and love. When we are afraid, we pull back from life. When we are in love, we open to all that life has to offer with passion, excitement, and acceptance. We need to learn to love ourselves first, in all our glory and our → Read More
RIYADH: It was surprising to see that the big deal makers and large asset managers are so displeased with the fast pace of the environmental action at the expense of global economic recovery. For years, oil-producing countries such as Saudi Arabia have warned that the world is moving too fast to reduce carbon emissions, with the result that less money is being channeled into → Read More
RIYADH: A court in Saudi Arabia on Sunday issued a final order on the restructuring of the Saudi conglomerate Ahmad Hamad Algosaibi and Brothers (AHAB) closing down the largest family debt case in the history of Saudi Arabia. → Read More
At the start of the year it seemed obvious to me and many others that oil in the coming 12 months would be a story of two cities, Riyadh and Moscow. Now, however, as the year draws to a close, it appears that oil in 2018 was an American story — and will continue to be so next year. → Read More
(Bloomberg) -- OPEC and its allies are pumping half a million barrels a day below the target they set two months ago as output drops in countries from Iran to Venezuela, according to several delegates. → Read More
Saudi Arabian Oil Co., the world’s largest crude exporter, said its production last year fell from the annual record it reached in 2016 as it led OPEC and other major producers in curbing output to counter a global oversupply. → Read More
Next year was supposed to be an interesting year for the equity market in Saudi Arabia and abroad because of the plans to sell a stake of Saudi Aramco to the public in what was expected to be the biggest initial public offering ever. Instead, next year will certainly be interesting for the debt market as Saudi Aramco is moving now to buy a stake in the petrochemical giant → Read More
OPEC’s crude output increased last month as Saudi Arabia pumped near-record volumes to make good on a pledge to consumers that demand would be met. → Read More
First, it was pirates; now it is Houthis. Almost 10 years ago, the oil market was shocked by the news that a Saudi oil tanker, Sirius Star, was hijacked by Somali pirates. The very large crude carrier, which was carrying its full load of 2 million barrels at the time of the incident, was hijacked in November about 830 kilometers southeast of Kenya as it was sailing to the US. → Read More
Saudi Arabia is planning to pump a record amount of crude in July, embarking on one of its biggest-ever export surges to cool down oil prices, according to people briefed on the country’s output policy. → Read More
OPEC and its allies gave the final sign-off to an oil-production increase, sealing a victory for Saudi Arabia and Russia. → Read More
OPEC has reached an agreement in principle to boost oil production, achieving a last-minute compromise that overcame Iran’s threats to veto any supply hike. → Read More
OPEC has reached an agreement in principle to boost oil production, achieving a last-minute compromise that overcame Iran’s threats to veto any supply hike. → Read More
OPEC inched closer to an agreement that would allow an oil-supply increase after positive talks between Saudi Arabia and Iran. → Read More
When the group overseeing the so-called OPEC+ deal met last night, proceedings were dominated by two nations: Saudi Arabia and Russia. It was probably a snapshot of the oil market’s future. → Read More
The odds of OPEC reaching an oil-production deal increased as Iran edged away from a threat to veto any agreement that would raise output and Saudi Arabia put forward a plan that would add about 600,000 barrels a day to the global market. → Read More
The odds of OPEC reaching an oil-production deal increased as Iran edged away from a threat to veto any agreement that would raise output. → Read More
OPEC is discussing a relatively modest production increase before its meeting in Vienna this week, an attempt to bridge the gap between Russia’s push for a big rise and and Iran’s insistence that no change is needed. → Read More