RIYADH (AFP) - Saudi shares dived 6.8 percent to a 20-month low on Tuesday amid panic sell-off by investors concerned over unrest that has hit several Arab countries, traders and analysts said.
The Tadawul All-Shares Index (TASI) shed about 403 points to close at 5,538.72 points, the lowest level since mid-July 2009, with all the 145 listed companies ending the day in the red.
At one sta [...]
RIYADH (AFP) - Saudi Oil Minister Ali al-Naimi said Tuesday OPEC is prepared to meet any shortage of supplies due to unrest in the Middle East and that its members have sufficient spare capacity to do so.
"There is absolutely no shortage of supply now... OPEC is ready to meet any shortage in supply when it happens," Naimi told a press conference at the end of a consumer-producer meeting t [...]
RIYADH (AFP) - Saudi Arabia's King Abdullah will return home on Wednesday from Morocco where he has been recovering from a back operation, the royal palace said in a statement.
King Abdullah "will, God willing, arrive in Riyadh Wednesday afternoon ... following a successful treatment," said the statement carried by state news agency SPA.
An official told AFP on Tuesday that "the king is [...]
DUBAI (AFP) - Like their Arab neighbours using the web to rally against their regimes, Saudis seeking political, social and economic reforms have created a group on Facebook that by Tuesday had nearly 2,000 members.
"The people want to reform the regime" group calls for a constitutional monarchy, transparency, legislative elections, an independent and fair judicial system, anti-corruption [...]
RIYADH (AFP) - Kingdom Holding said on Monday it has offered to buy the Saudi operations of Zain, opening a way for the UAE's Etisalat to acquire a majority stake in the Kuwaiti-based mobile telecoms operator.
The Saudi investment group said it has sent the board of directors of Mobile Telecommunications Company K.S.C (Zain) a "non-binding offer and a preliminary expression of interest" t [...]
RIYADH (AFP) - The Saudi stock market, the largest Arab bourse, plunged 6.43 percent to 6,267.22 points on Saturday as tensions soared in Egypt, where deadly anti-government protests continued for a fifth day.
The market has been gripped by severe anxiety because of the events in Egypt, traders told AFP, expressing fears that other Gulf markets, due to open on Sunday, will be similarly af [...]
RIYADH (AFP) - The Saudi oil minister said on Monday that OPEC could raise output to meet 2011 demand, forecast to rise by two percent as the world economy recovers, and prices are expected to maintain last year's levels.
As non-OPEC producers are likely to increase output, OPEC countries will also have the opportunity "to boost their supplies to the global market to meet the rising globa [...]
RIYADH (AFP) - Saudi King Abdullah arrived in Casablanca, Morocco on Saturday to convalesce two months after undergoing back surgery in the United States, the official SPA news agency reported.
"King Abdullah bin Abdul Aziz al-Saud arrived in Casablanca in the Kingdom of Morocco from New York to complete physical therapy and recovery," said the report.
Morocco's King Mohammed VI met King [...]
RIYADH (AFP) - Ousted Tunisian president Zine El Abidine Ben Ali has been barred from any political activity relating to his country while he shelters in Saudi Arabia, Foreign Minister Saud al-Faisal said Wednesday.
"This act (of sheltering Ben Ali) should not lead to any kind of activity in Tunisia from the kingdom... There are conditions, and no act in this regard will be allowed," Fais [...]
DOHA (AFP) - Saudi Arabia's King Abdullah on Saturday removed Prince Sultan Bin Fahd as president of the Saudi Football Federation, as the ramifications from their dismal showing at the Asian Cup intensified.
The prince was relieved of his post as president of General Youth Welfare, which includes running the football federation as well as the country's Olympic committee, according to a s [...]
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