Search Results for: Arab
Saudi Arabia and UAE government bank deposits fall
March 31st, 2016
Government bank deposits continued to fall in Saudi Arabia and the UAE last month, as the low oil price hits the balance sheets of lenders in both countries. In Saudi Arabia, government deposits fell 6.6 per cent in February, ...
Low Oil Prices Forcing Saudi Arabia To Modernize Economy
March 28th, 2016
The collapse in oil prices is forcing Saudi Arabia to undertake some deep and fundamental changes to its economy, reforms that no amount of browbeating from organizations like the IMF could induce. A new report from The Atlantic Council finds that ...
Saudi Arabia Said to Join Mid-April Oil Producer Meeting in Doha
March 17th, 2016
Crude prices have risen more than 30% since freeze proposed Qatar meeting would seek more commitments to cap production Saudi Arabia will join a meeting of producers from within and outside OPEC in Doha next month, adding weight to ...
What oil freeze? Saudi Arabia and Russia pump more
March 15th, 2016
So much for that agreement to freeze output. The latest oil market data reveal that both Russia and Saudi Arabia ramped up their oil production in February, despite talks about supply caps. The two oil countries agreed to freeze output at ...
Saudi Arabia seeks $8bn loan to plug fiscal deficit caused by low oil prices
March 10th, 2016
Saudi Arabia is looking to raise as much as $8bn (£5.6bn; €7.3bn) from international lenders to help plug a record budget deficit caused by low oil prices. Citing sources, the Wall Street Journal said the kingdom is also considering ...
Saudi Arabia to hold out bond mandate prospect to banks
March 8th, 2016
Banks were briefed that the largest lenders on the loan, which may be as much as $10 billion, will also probably be appointed to arrange the bond Dubai: Saudi Arabia is holding out the prospect of a role in ...
Shale Oil Isn’t Saudi Arabia’s Only Nemesis
March 2nd, 2016
Even when glut stops growing, market might shrug: SocGen History shows oil rebound will hinge on stockpiles: Goldman Even if Saudi Arabia wins its struggle with U.S. shale producers over market share, it will face a new billion-barrel adversary. ...
Arab States Face $94 Billion Debt Crunch on Oil Slump, HSBC Says
February 29th, 2016
$52 billion of bonds, $42 billion of loans due this, next year Refinancing challenging with slow growth, rating downgrades Gulf Cooperation Council countries may struggle to refinance $94 billion of debt in the next two years as the region ...
Oil Prices Rally On News Of Russia, Saudi Arabia Meeting
February 26th, 2016
Oil prices jumped by more than 2 percent on February 25 after Venezuela said top oil producers Russia and Saudi Arabia will meet again in mid-March to discuss their proposed output freeze. Russia and OPEC members Saudi Arabia, Venezuela, ...
Oil crisis: Prices decline again after Saudi Arabia refuses to cut production
February 19th, 2016
Oil prices declined after Saudi Arabia’s foreign minister Adel al-Jubeir said that his country will not cut production. The statement made on 18 February is contrary to what Saudi Arabia had agreed to at the recent emergency meeting in ...
