Saudi Arabia is committed to supplying crude oil to China and interested in collaborating with the world’s No 2 economy on issues ranging from climate change to curbing inflation, says the Gulf ...
Tag: saudi
Why The West Shouldn’t Expect More Oil From Saudi Arabia
In December 2016, OPEC, Russia, and several other non-OPEC producers sealed a historic deal. For the first time in 15 years, there would be oil production cuts. At the time, RBC’s Helima Croft said Sa...
Saudi Arabia Says It’s Done All It Can for the Oil Market
(Bloomberg) — Sign up for our Middle East newsletter and follow us @middleeast for news on the region. Most Read from Bloomberg Saudi Arabia’s foreign minister said there’s nothing more the king...
Saudi fund in early talks to potentially buy Carnival’s ultra-luxury Seabourn brand
An aerial view of Seabourn Encore cruise ship docked at Bodrum Cruise Port on April 27, 2022, in Mugla, Turkey. Ali Balli | Anadolu Agency | Getty Images Carnival is in preliminary discussions to sell...
Saudi Arabia signals support for Russia’s role in Opec+ as sanctions pressure mounts
Saudi Arabia has signalled it will stand by Russia as a member of the Opec+ group of oil producers despite tightening western sanctions on Moscow and a potential EU ban on Russian oil imports. Prince ...
Saudi Wealth Fund Takes $1.5 Billion Stake in Alwaleed’s Firm
(Bloomberg) — Saudi Arabia’s sovereign wealth fund has bought a $1.5 billion stake in the investment company of billionaire Prince Alwaleed Bin Talal, who previously reached an undisclosed deal ...
Lucid Group to build first factory outside the U.S. in Saudi Arabia
U.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company announced. Javier Blas | Bloomberg | Getty Images U.S. electric vehicle maker Lucid Group wi...
Lucid shares fall despite new Saudi facility milestone
Lucid Motors (NASDAQ: LCID), an electric vehicle (EV) manufacturer, hosted a ceremonial signing event on Wednesday, May 18. The event marks the agreement on a manufacturing facility with various enti...
Saudi Aramco Becomes World’s Most Valuable Company as Apple Stock Drops
Following a 5.2% decline on Wednesday, Apple was overtaken by Middle Eastern oil behemoth Saudi Aramco as the world’s most valuable stock. American consumer electronics powerhouse Apple Inc (NASDAQ: A...
Oil Prices Slip as Saudi Arabia Cuts Prices and China Lockdowns Intensify
Text size Oil prices slip Monday but are still elevated. Pichit Boonhuad/Dreamstime.com Oil prices declined Monday after Saudi Arabia, the biggest exporter, reduced prices for Asia and the northwest o...
Saudi Arabia Reportedly Will Invest In Israel Through Jared Kushner’s Fund
Topline Affinity Partners, a new private-equity fund started by Jared Kushner, plans to invest money from Saudi Arabia’s sovereign wealth fund in Israeli businesses, the Wall Street Journal reported S...
Saudi Arabia Looking to Achieve Sustainability Aims of Vision 2030
Saudi Arabia’s Vision 2030 is a strategic framework for the kingdom as it shifts away from an oil-dependent economy and looks to a more sustainable, non-oil future. The plan is based on three co...
Lucid stock jumps 7% premarket after announcing Saudi deal to purchase up to 100,000 EVs
Lucid (NASDAQ: LCID) announced on April 26, an agreement with the Government of Saudi Arabia to purchase 100,000 vehicles. In particular, the deal will span over a 10-year period with an initial commi...
Lucid stock climbs after EV maker announces sales deal with Saudi Arabia
Lucid Group Inc. LCID, -8.74% stock rose more than 4% in the extended session Tuesday after the EV maker said it had reached an agreement with Saudi Arabia to sell up to 100,000 vehicles over a 10-yea...
Lucid to deliver up to 100,000 EVs to Saudi Arabia’s government
With 1,050 horsepower, the new Grand Touring Performance edition becomes the most powerful version of Lucid’s electric Air sedan. Lucid Motors Lucid Group said that the government of Saudi Arabi...
Saudi Arabia’s crypto ambition could influence sector talent pool – Swarm Markets’ Timo Lehes
Saudi Arabia, like many of its neighbors in the Middle East, is reportedly eyeing blockchain and cryptocurrency use and adoption across the country. According to one recent report, the Saudi governmen...
Saudi Arabia can adopt blockchain technology in the Government
The Kingdom of Saudi Arabia is considering adopting blockchain technology throughout its administration as well as legalizing the use of cryptocurrencies. However, an official stated that the ki...
Elon Musk’s 2018 Feud With Saudi Fund Revealed
(Bloomberg) — Elon Musk’s short-lived effort to take Tesla Inc. private after his infamous “funding secured” tweet in August 2018 has loomed over the billionaire’s reputation — and his que...
Saudi Royals Are Selling Homes, Yachts and Art as Crown Prince Cuts Income
RIYADH, Saudi Arabia—Saudi princes have sold more than $600 million worth of real estate, yachts and artwork in the U.S. and Europe since the kingdom’s de facto ruler tightened the purse strings of th...
Saudi Arabia Exploring Possibility of Implementing Blockchain in Government – Featured Bitcoin News
The Kingdom of Saudi Arabia is looking into the possibility of implementing blockchain technology across its government as well as allowing the use of cryptocurrencies. However, an official said the k...
Saudi Central Bank Warns Official Entities on Forex Trading
Saudi official entities have been warned against the use of forex trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value o...
Saudi Prince Who Rejected Elon Musk’s Twitter Offer, Sold Shares in 2019
8 hours ago | 2 mins read Bitcoin News Twitter user @zerohedge provided documents indicating the sold out. According to Tesla CEO, Twitter is “important to the functioning of democracy”. Tesla CEO Elo...
54% of Saudi Arabians would like to use cryptocurrencies as payments
A study certifies that 54% of Saudi Arabia and UAE residents would like to use cryptocurrencies for payments. Check Out says Saudi Arabia is ready to digitize cryptocurrency payments Saudi Arabia and...
54% of UAE and Saudi Arabia Survey Respondents Said Crypto Should Be Used for Payments – Emerging Markets Bitcoin News
An average of 54% of survey respondents from Saudi Arabia and the United Arab Emirates (UAE) said they believe cryptocurrency should be used as currency. Still, a significant proportion of the respect...
Saudi Arabia Hikes Oil Prices Further Into Record Territory
(Bloomberg) — Saudi Arabia raised oil prices for customers in all regions as Russia’s invasion of Ukraine continues to reverberate through markets. Most Read from Bloomberg State producer Saudi ...
F1 drivers seek more input over where races held after Saudi GP
Mercedes’ Lewis Hamilton, Alpine F1’s Fernando Alonso and Esteban Ocon leave a meeting after practice ahead of the F1 Grand Prix of Saudi Arabia. Safety concerns rose after a missile attac...
Singapore’s Olam To Sell Stake In Agri Unit For $1.24 Billion To Saudi Firm
Sunny Verghese, cofounder and CEO of Olam, speaks during a news conference in Singapore, on Monday, … [+] Aug. 14, 2017. Nicky Loh/Bloomberg Olam Group is selling just over a third of one of its...
Saudi Wealth Fund May Make Major Investment in Building Firms
(Bloomberg) — Saudi Arabia’s sovereign wealth fund may invest hundreds of millions of dollars in four local construction firms as it looks to bolster an industry that’s been crippled by payment ...
Oil rises after reported strike on Saudi oil facility, with global prices up nearly 12% for the week
Oil futures finished higher on Friday, giving up earlier declines and boosting global prices by nearly 12% for the week, after reports of an attack on an oil facility in Saudi Arabia renewed concerns ...
Saudi Aramco to boost oil production spending to help meet rise in demand
Saudi Aramco has said it will boost spending on oil production to meet rising energy demand as chief executive Amin Nasser criticised “totally unrealistic” plans to swiftly transition the world away f...
Opinion: Why the United States is reluctant to become the Saudi Arabia of natural gas
OXFORD, England (Project Syndicate)—With images of Russian aggression and war crimes in Ukraine continuing to dominate the media in Europe and around the world, Germany has pledged to cut its imports ...