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#Saudi Aramco extends $10 bln loan on improved terms, sources say | Reuters

Saudi Aramco extends $10 bln loan on improved terms, sources say | Reuters Saudi Arabian oil giant Aramco (2222.SE) has secured a one-year extension to a $10 billion loan it raised last year, negotiating improved terms in the process, three sources told Reuters.Aramco has borrowed tens of billions of dollars in the past few years to keep up with Saudi Arabia's financing needs in an era of lower oil prices.This is in addition to a public sale of a minority stake in the company and the recent le...
Tags: Travel, Saudi Arabia, Reuters, Saudi Aramco, Rupert Neil Bumfrey, Reuters Aramco


Mall operator says #UAE Q4 retail revenue to be greater than pre-pandemic | Reuters

Mall operator says UAE Q4 retail revenue to be greater than pre-pandemic | Reuters Middle East shopping mall operator Majid Al Futtaim said on Wednesday retail revenues in the United Arab Emirates in the latter part of 2021 are likely to exceed those seen before the pandemic, as more people are vaccinated and Dubai Expo 2020 begins.Privately-held Majid Al Futtaim has 27 shopping centres, including in the UAE, Egypt and Saudi Arabia, and franchisee rights for brands including Abercrombie & Fitc...
Tags: Travel, Saudi Arabia, Middle East, United Arab Emirates, Dubai, Oman, Muscat, Uae, Gulf, Reuters, Abercrombie Fitch, Majid Al Futtaim, Lululemon Athletica, UAE Egypt, Rupert Neil Bumfrey, Alain Bejjani


Microsoft hits a $2 trillion market valuation for the first time, second only to Apple

Microsoft CEO, Satya Nadella. Stephen Brashear/Getty Images Microsoft became the second US-listed company to hit a $2 trillion market valuation after Apple. Investors expect its lead in cloud computing to keep its success going, amid remote working. Amazon's market cap reached $1.77 trillion on Tuesday, while Alphabet logged $1.67 trillion. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Microsoft crossed the $2 trillion market-valuation threshold on Tuesday, ...
Tags: Apple, Google, Amazon, New York, Microsoft, Saudi Arabia, Satya Nadella, US, Trends, Ibm, Blackrock, Saudi Aramco, Tadawul, Wedbush, Ives, Redmond


Saudi Arabia's STC Pay Gains Digital Banking Licence

DUBAI (Reuters) - Saudi Telecom's STC Pay business will be converted into a digital bank with paid-up capital of 2.5 billion riyals ($666.7 million...
Tags: Saudi Arabia, Dubai, STC, STC Pay Gains Digital Banking Licence, Reuters Saudi Telecom


Wind turbines: How UK wants to become 'Saudi Arabia of wind'

With Britain's offshore wind power capacity growing at speed, we see how huge turbines are installed.
Tags: UK, News, Saudi Arabia, Britain


Operatives who killed Saudi dissident journalist Jamal Khashoggi received training in the US, New York Times reports

People hold posters picturing Saudi journalist Jamal Khashoggi and lightened candles during a gathering outside the Saudi Arabia consulate in Istanbul, on October 25, 2018. Yasin Akgul/Getty Images Four Saudis involved in the death of journalist Jamal Khashoggi received training in the US prior to his killing, NYT reported. The contract for the paramilitary training was approved by the State Department, according to the NYT. The training initially began in 2014 and continued during at leas...
Tags: Post, Politics, Obama, Congress, Washington Post, Saudi Arabia, US, Trends, Turkey, Arkansas, New York Times, The Times, Un, Pentagon, State Department, Cia


Sovereign fund PIF considers #Saudi Telecom stake sale, sources say | Reuters

Sovereign fund PIF considers Saudi Telecom stake sale, sources say | Reuters Saudi Arabia’s Public Investment Fund (PIF) is considering divesting part of its stake in Saudi Telecom, sources close to the matter told Reuters, as the sovereign wealth fund seeks to monetise some of its assets.The fund, which holds $430 billion of assets, has hired Goldman Sachs and Saudi National Bank’s (SNB) investment banking arm to arrange a transaction, three sources said, declining to be named because the mat...
Tags: Travel, Saudi Arabia, Goldman Sachs, SNB, Pif, Reuters, Mohammed bin Salman, Rupert Neil Bumfrey, Saudi Telecom, Public Investment Fund PIF, Saudi National Bank


MIDEAST STOCKS Major Gulf markets gain as financial shares rise | Reuters

Major stock markets in the Gulf ended higher on Tuesday, supported by their financial stocks, with the Abu Dhabi index leading the gains. Saudi Arabia's benchmark index  (.TASI)  added 0.3%, with Saudi National Bank  (1180.SE)  rising 2.5% and petrochemical maker Saudi Basic Industries  (2010.SE)  strengthening 0.7%. Yemen's warring parties are thrashing out terms for a peace deal that would extricate the kingdom from a costly war and help alleviate a devastating humanitarian crisis, Reu...
Tags: Travel, Saudi Arabia, Qatar, Iran, United Arab Emirates, Dubai, Oman, Abu Dhabi, Yemen, Uae, Gulf, Reuters, Riyadh, Adi, Dubai International Airport, Tasi


The US is pulling Patriot missiles and fighter jets out of the Middle East

A Patriot anti-aircraft missile battery in Saudi Arabia, January 1, 1991. Gilles BASSIGNAC/Gamma-Rapho via Getty Images The US is preparing to pull some of its forces and defenses from the Middle East this summer. Some fighter squadrons and air-defense systems will reportedly be withdrawn from Iraq, Kuwait, Jordan, and Saudi Arabia, among other countries in the region. The Pentagon is adjusting as the war in Afghanistan ends and shifting its focus on major adversaries. See more stories on ...
Tags: Navy, North Korea, Saudi Arabia, Defense, US, Trends, Afghanistan, United States, Middle East, Pentagon, Wall Street Journal, US Air Force, McNulty, Russia China, US Central Command, Lloyd Austin


Saudi Arabia Says It Will Judge Iran's Raisi by 'Reality on the Ground'

VIENNA (Reuters) - Saudi Arabia will judge Iranian President-elect Ebrahim Raisi's government by "the reality on the ground", the kingdom's foreign...
Tags: Saudi Arabia, Iran, Vienna, Reuters Saudi Arabia, Ebrahim Raisi


Crude Oil Price: Russia Weighs Proposing OPEC+ Output Hike at Next Week’s Meet - Bloomberg

Crude Oil Price: Russia Weighs Proposing OPEC+ Output Hike at Next Week’s Meet - Bloomberg Russia is considering proposing an OPEC+ oil-output increase at the group’s meeting next week because the nation sees a supply deficit in the market, according to officials familiar with the matter.Moscow expects the current global oil-output deficit to persist in the medium term, two officials said, asking not to be named because the discussions are not public. The country’s final position going into th...
Tags: Travel, Saudi Arabia, Russia, Opec, Moscow, Goldman Sachs, International Energy Agency, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, Prince Abdulaziz Bin Salman, Meet Bloomberg, Iran Opec, Meet Bloomberg Russia


Iran’s new leader takes hard line, refuses to meet Biden

By Isabel Debre and Jon Gambrell | Associated Press DUBAI, United Arab Emirates — Iran’s president-elect staked out a hard-line position Monday in his first remarks since his landslide election victory, rejecting the possibility of meeting with President Joe Biden or negotiating Tehran’s ballistic missile program and support of regional militias. The comments by Ebrahim Raisi offered a blunt preview of how Iran might deal with the wider world in the next four years as it enters a new stage in ne...
Tags: New York, Washington, Saudi Arabia, White House, Iraq, America, Sport, Joe Biden, Iran, Vienna, West, Soccer, United States, Ayatollah Ali Khamenei, Amnesty International, Biden


Most major Gulf bourses in red; Egypt outperforms | Reuters

Most major Gulf bourses in red; Egypt outperforms | Reuters Dubai’s main share index eased 0.1%, hit by a 0.4% fall in Emirates NBD and a 2.2% slide in budget airliner Air Arabia.The Dubai Airshow, this year’s biggest aerospace trade show and a spectacle for business deals worth billions of dollars, will be held under capacity restrictions in November due to the coronavirus pandemic, its organiser said.In Abu Dhabi, the index dropped 0.5%, weighed down by a 1.2% fall in the largest lender Firs...
Tags: Travel, Saudi Arabia, Egypt, Dubai, Abu Dhabi, MPC, Gulf, Reuters, Emirates NBD, Dubai Airshow, Qatar Islamic Bank, Abu Dhabi Commercial Bank, Air Arabia, Rupert Neil Bumfrey, Commercial International Bank Egypt, Reuters Dubai


End of Yemen Quagmire? Saudi-Led Coalition, Houthis Near Peace Deal

By Aziz El YaakoubiDUBAI (Reuters) - Yemen's warring parties are thrashing out terms for a peace deal that would extricate Saudi Arabia from a...
Tags: Saudi Arabia, Yemen, Aziz El YaakoubiDUBAI Reuters Yemen, Coalition Houthis Near Peace Deal


Iran Set to Stay on Hardline Course After Raisi Win, Saudi Commentators Say

DUBAI (Reuters) - The election of a hardline Iranian president has so far been met with silence from Saudi Arabia, but commentators in...
Tags: Saudi Arabia, Iran, Dubai, Reuters


New Giant #Saudi Pension Fund Aims to Crack World’s Top 10 Ranks - Bloomberg

New Giant Saudi Pension Fund Aims to Crack World’s Top 10 Ranks - Bloomberg Saudi Arabia gave a first glimpse of the ambition behind the merger of two of its pension and insurance funds with a plan to rival the world’s largest investors.The new entity will boast assets of over $250 billion, according to the chief executive officer of Hassana Investment Co, the investment management arm of the kingdom’s General Organization of Social Insurance. GOSI, as the fund is known, will combine with the ...
Tags: Travel, Japan, Saudi Arabia, China, Bloomberg, PPA, Hassana, AstraZeneca PLC, Rupert Neil Bumfrey, EIG Global Energy Partners, New York State Common Retirement Fund, Al Rajhi Bank, Bloomberg Saudi Arabia, Public Pension Agency, GOSI, Global SWF


#Saudi Stocks Slump as Valuation Concerns Mount: Inside EM - Bloomberg

Saudi Stocks Slump as Valuation Concerns Mount: Inside EM - Bloomberg Middle Eastern stock markets were mixed as investors reconciled concerns of high valuations with more positive economic indicators.Saudi Arabia’s Tadawul All Share Index led losses in the Gulf, dropping as much as 0.8% on Sunday. The kingdom’s equities have climbed for six straight weeks, their longest winning streak since September, with the key gauge hovering near its highest in almost seven years amid optimism on oil pric...
Tags: Travel, Saudi Arabia, Israel, Bloomberg, Dubai, Federal Reserve, Abu Dhabi, Bahrain, Gulf, Bloomberg TV, Rupert Neil Bumfrey, Kuwait Qatar, Tarek Fadlallah, Oman Egypt, Bloomberg Middle Eastern, Nomura Asset Management 's Middle East


MIDEAST STOCKS #Saudi bourse underperforms major Gulf markets, #Qatar gains | Reuters

MIDEAST STOCKS Saudi bourse underperforms major Gulf markets, Qatar gains | Reuters Most major stock markets in the Gulf ended lower on Sunday, with the Saudi index leading the losses, although Qatar bucked the trend to close higher. The benchmark index  (.TASI)  in Saudi Arabia, fell 0.6%, with Al Rajhi Bank  (1120.SE)  and petrochemical firm Saudi Basic Industries  (2010.SE)  dropping 1.8% each. The kingdom's April crude oil exports fell to their lowest level since June 2020, official ...
Tags: Travel, Saudi Arabia, Opec, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, Fitch, Dubai International Airport, Tasi, Rupert Neil Bumfrey, Saudi Basic Industries, Al Rajhi Bank, Gulf Egypt, Qatar Islamic Bank QISB QA


Oil Price Spike: OPEC+ Must Manage Shift From Lack of Demand to Lack of Supply - Bloomberg

Oil Price Spike: OPEC+ Must Manage Shift From Lack of Demand to Lack of Supply - Bloomberg The oil market is rapidly shifting from a period of over-supply during the height of the pandemic to one of potential shortage. Producers who managed the slump now need to be diligent in managing the recovery.The oil producing countries in the OPEC+ group — led by Saudi Arabia and Russia — have done an amazing job at managing oil supplies as demand has crawled its way back from the biggest collapse in hi...
Tags: Travel, Mexico, Saudi Arabia, Russia, Opec, Donald Trump, Rupert Neil Bumfrey, Supply Bloomberg


Middle Eastern Markets Mixed, High Valuations Eyed: Inside EM - Bloomberg

Middle Eastern Markets Mixed, High Valuations Eyed: Inside EM - Bloomberg Middle Eastern stock markets were mixed as investors attempted to reconcile concerns about high valuations with more positive economic indicators.Saudi Arabia’s benchmark Tadawul All Share Index fluctuated, dropping as much as 0.8% on Sunday before trimming losses.“The macro story in Saudi Arabia is much more interesting than the micro story,” said Tarek Fadlallah, the chief executive officer of Nomura Asset Management’s...
Tags: Travel, Saudi Arabia, Israel, Bloomberg, Dubai, Federal Reserve, Bahrain, Gulf, Tadawul, Emirates NBD, Emaar Properties, Kuwait Finance House, Rupert Neil Bumfrey, Dubai Islamic Bank, National Bank of Kuwait, Ahli United Bank


Batelco Jumps to Highest Since 2008 Amid Dual Listing Plans - Bloomberg

Batelco Jumps to Highest Since 2008 Amid Dual Listing Plans - Bloomberg Bahrain Telecommunications Co. shares rallied to the highest since 2008 in heavy trading as the company weighs cross-listing its shares on Saudi Arabia’s stock exchange.Shares jumped by 2.2% to 0.61 Bahraini dinars at 11:05 a.m. local time. More than 454,000 shares were traded -- over six times the stock’s 30-day average for this time of day. The stock was the biggest gainer on the Bahrain Bourse All Share Index by points....
Tags: Travel, Saudi Arabia, Bloomberg, Bloomberg News, Rupert Neil Bumfrey, Batelco, Batelco Jumps, Bloomberg Bahrain Telecommunications Co, Batelco Bahrain


Al Rajhi Bank: Fitch boosts outlook to 'Stable' on resilient metrics | ZAWYA MENA Edition

Al Rajhi Bank: Fitch boosts outlook to 'Stable' on resilient metrics | ZAWYA MENA Edition Fitch Ratings agency has revised Saudi Arabia’s Al Rajhi Banking and Investment Corporation's outlook to ‘Stable’ from ‘Negative’, while affirming the bank's 'A-' Long-Term Issuer Default Ratings (IDR).The ratings agency assessed that pressures on the bank from the operating environment from the pandemic and lower oil prices have eased sufficiently, and that the financial metrics of the lander have been r...
Tags: Travel, Saudi Arabia, Fitch, Rupert Neil Bumfrey, Al Rajhi Bank, MENA Edition Fitch Ratings, Al Rajhi Banking and Investment Corporation


MIDEAST STOCKS Major Gulf markets mixed in early trade | Reuters

MIDEAST STOCKS Major Gulf markets mixed in early trade | Reuters Major Gulf stock markets were mixed in early trade on Sunday with the Abu Dhabi index leading gains boosted by top lender First Abu Dhabi Bank.The benchmark index (.TASI) in Saudi Arabia, fell 0.3%, with Al Rajhi Bank (1120.SE) losing 0.9% and petrochemical firm Saudi Basic Industries (2010.SE) easing 0.7%.The kingdom's April crude oil exports fell to their lowest level since June 2020, official data showed on Thursday. OPEC and ...
Tags: Travel, Saudi Arabia, Opec, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Adi, Fitch, Tasi, Rupert Neil Bumfrey, Saudi Basic Industries, Al Rajhi Bank, First Abu Dhabi Bank


44% of world sees U.S. as dangerous to democracy

Now that everyone has seen our normal-guy president not making an ass of himself in Cornwall at the G7, and then not kowtow to the Russian dictator in Zurich, I don’t know, maybe the numbers are better. But just last month, before Joe Biden had his first chance as president to walk the world stage, 44% of people polled in 53 countries around the globe saw the United States as a danger not just to democracy in general but to the prospects for democracy in their very own countries. And, yes, we’re...
Tags: Sweden, Vladimir Putin, Congress, Opinion, Washington, Saudi Arabia, Uncategorized, US, America, Sport, Joe Biden, Beijing, Soccer, United States, Cornwall, State Department


#Saudi listed company debt jumped by half in 2020 | ZAWYA MENA Edition

Saudi listed company debt jumped by half in 2020 | ZAWYA MENA Edition The debts of companies listed on Saudi Arabia’s Tadawul stock exchange, excluding real estate funds, increased by 45 percent last year as they borrowed to face down the pandemic and took advantage of low interest rates.Debt reached SR1.3 trillion ($346 billion) at the end of the fourth quarter of 2020, up from SR899.2 billion a year earlier, Al Eqtisadiah reported, citing data from the Tadawul and Saudi Capital Market A...
Tags: Travel, Saudi Arabia, Federal Reserve, Saudi Aramco, Tadawul, Al Eqtisadiah, Rupert Neil Bumfrey, Saudi Capital Market Authority


Pentagon pulls missile defense, other systems from Saudi Arabia and other Middle East countries

The Pentagon is pulling missile defense systems and other military hardware and personnel from Saudi Arabia and other countries in the Middle East, according to a defense official, as it realigns its mission and forces to confront China and Russia.
Tags: Saudi Arabia, China, Cnn, Middle East, Pentagon


DOD pulls missile defense, other systems from Saudi Arabia and more countries

The Pentagon is pulling missile defense systems and other military hardware and personnel from Saudi Arabia and other countries in the Middle East, according to a defense official, as it realigns its mission and forces to confront China and Russia.
Tags: News, Saudi Arabia, China, Middle East, Stories, Pentagon, Dod


#SaudiArabia to auction mining licenses in 2022 | ZAWYA MENA Edition

Saudi Arabia to auction mining licenses in 2022 | ZAWYA MENA Edition Saudi Arabia plans to auction two major mining licenses in 2022 for commodities including gold, copper and zinc, as the Kingdom aims to triple the mining sector’s contribution to the national gross domestic product (GDP) to SR240 billion ($64 billion) and double the number of jobs to 470,000 by 2030.The auction was announced by Vice Minister for Saudi Mining Affairs Khalid Al-Mudaifer during an interview with S&P Global ...
Tags: Travel, Saudi Arabia, Kingdom, Dubai, Barrick Gold, Alcoa, Eastern Province, Rupert Neil Bumfrey, Saudi Arabian Mining Company Ma'aden, ZAWYA MENA Edition Saudi Arabia, Khalid Al Mudaifer, Al Mudaifer, Ma'aden Bauxite, Alumina, Ras al Khair Industrial City, Al Shamal Fertilizer Production Complex


Bahrain's Batelco Telecom Considers #Saudi Dual Listing - Bloomberg

Bahrain's Batelco Telecom Considers Saudi Dual Listing - Bloomberg Bahrain’s biggest telecommunications firm is planning to become the first company to have a dual listing of shares on Saudi Arabia’s stock exchange, according to people familiar with the matter.Bahrain Telecommunications Co., also known as Batelco, has hired the investment arm of Samba Financial Group as an adviser on the deal, the people said, asking not to be identified as the information is private. No decision has been made...
Tags: Travel, Saudi Arabia, Bloomberg, Dubai, Abu Dhabi, Bahrain, Gulf, Abu Dhabi Securities Exchange, Rupert Neil Bumfrey, Samba Financial Group, Khalid Al Hussan, Samba Capital, Batelco, Batelco Telecom, Bloomberg Bahrain, Bahrain Telecommunications Co


#SaudiArabia Pension, Unemployment Insurance Funds to Combine Into One Entity - Bloomberg

Saudi Arabia Pension, Unemployment Insurance Funds to Combine Into One Entity - Bloomberg Saudi Arabia will combine two state-run pension and unemployment insurance funds into an entity with almost $29 billion of local and foreign stocks.The cabinet approved the combination of the Public Pension Agency and the General Organization of Social Insurance, also known as GOSI. It’ll boost investment returns, reduce costs and help with their diversification, Finance Minister and GOSI Chairman Mohamme...
Tags: Travel, Saudi Arabia, Bloomberg, HSBC Holdings Plc, AstraZeneca PLC, Rupert Neil Bumfrey, Al Rajhi Bank, Mohammed al Jadaan, Public Pension Agency, GOSI, National Development Fund, Saudi National Bank, Combine Into One Entity Bloomberg Saudi Arabia, General Organization of Social Insurance