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UAE asks US for a wartime financial lifeline as Iran conflict drags: ReportThe United Arab Emirates is in discussions with the United States regarding a potential financial backstop. This measure is being considere...- IMF, World Bank meetings show limits in mitigating shocks, reliance on US for solutionsGlobal finance leaders met amid Middle East war news. They acknowledged their limited ability to counter economic damage from frequent geop...
- Saudi Arabia says Pakistan sends fighter jets to kingdom under defence pactPakistan has deployed fighter jets and military forces to Saudi Arabia. This action strengthens security under a defense pact. The move fol...
- IMF steering committee says Fund must continue to focus on core mandatesThe International Monetary Fund's steering committee emphasized the importance of focusing on core mandates like trade and growth. Addressi...
- Host Saudi warns of economic fallout from Gaza war at global summitSaudi Arabia urges regional stability amid the Israel-Hamas conflict, hosting a summit attended by mediators. Concerns about economic impac...
- Saudi Arabia's Vision 2030 projects to be adjusted as needed, finmin saysSaudi Arabia has adjusted Vision 2030 plan for economic growth quality, focusing on global collaboration, tourism, private sector expansion...
- Global economy, trade moving towards normalisation, yet far from normal: Leaders at WEF"We have been more optimistic about 2024, and I feel, we are moving towards normalisation, but I still don't see it returning to a normal f...
- Saudi Arabia's King Salman names new economy minister, eldest son Prince Sultan as advisorThe king named Faisal al-Ibrahim as the minister of economy and planning, a move that promotes him from his post as deputy minister in whic...
- Saudi Arabia won't work with foreign firms without regional HQ from 2024The policy, which comes into effect on Jan 1. 2024, is designed to encourage foreign firms to open a permanent, in-country regional presenc...
- Saudi Arabia plans spending cuts to trim deficit amid virusThe kingdom expects its deficit to hit USD 79.4 billion this year, according to a government budget statement released late Tuesday, an est...
- Saudi Arabia to get sovereign wealth fund dividend, has no tax hike plan: FinMin"We called for part of the dividends, so we are possibly going to receive around 15 to 25 billion Saudi riyals in dividends from PIF," Fina...
- Saudi finance minister says Vision 2030 'tried and tested'"It proved to be the right plan. The economy was able actually to deal with it (the coronavirus crisis), the government was able to deal wi...
- Saudi Arabia is mulling asset sales and income tax to survive a double whammySaudi Arabia has been taking steps to shore up its economy from the double whammy of the coronavirus and lower crude prices. The economy is...
- Saudi Arabia triples taxes, cuts $26B in costs amid pandemicSaudis tripled taxes on basic goods and cut spending by $26 billion to stave off a Covid impact.
- Saudi Arabia’s reserves plunge the most in at least two decadesThe drop of more than $27 billion brought the stockpile to $464 billion, lowest since 2011.
- Saudi Arabia mulls more fiscal expansion in 2018 to spur economyThe biggest Arab economy contracted two quarters in a row this year after the kingdom cut its crude output to support prices.
- Three crucial things we still don't know about the Aramco IPOThe 2018 deadline looks tight and the final shape of the deal is no clearer than it was a week ago.
- Saudis mull slower subsidy, spending cuts to support economyThe IMF has asked the Kingdom to go slow on its austerity drive, which included slashing spending and curtailing state largess.
- Saudis greet Trump with more than $50 billion in US dealsSaudi Aramco will sign accords and joint-venture agreements valued at about $50 billion with companies like General Electric, Schlumberger ...
- King Salman caps Saudi Cabinet overhaul with finance chiefSince taking power early last year, King Salman has replaced the ministers of oil, foreign affairs, trade and economy as the kingdom grappl...
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