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Saudi Arabia

SBP receives $1bn Saudi assistance

KARACHI: The State Bank of Pakistan (SBP) on Monday received the first tranche of $1 billion under the balance of payment support from Saudi Arabia.  According to a SBP spokesperson, out of the promised $3bn Saudi assistance in foreign currency support, the central bank has received $1bn dollar, while the remaining amount of $2 billion is expected to reach in next few days. After the receipt of the amount, the country’s foreign exchange reserves have increased to more than $14 billion, said the spokesperson.…

PM Imran deposits precious watch in national exchequer

ISLAMABAD: Prime Minister Imran Khan on Thursday deposited a precious wrist watch, gifted by the Saudi Arabia's Crown Prince Mohammad Bin Salman to the 'Toshakhana' (national exchequer). According to the details PM Imran has deposited a precious wrist watch, reportedly Chopard, worth more than Rs16 million to the Toshakhana. The precious watch was gifted to him by Saudi Arabia's crown prince during his recent visit to Riyadh. A report on Imran Khan official Facebook page reads, the premier could have retained this…

Saudi public prosecutor seeks death penalty in Khashoggi murder case

RIYADH: Saudi Arabia’s public prosecutor is seeking the death penalty for five out of 11 suspects charged in the murder of journalist Jamal Khashoggi, in a case that has strained the kingdom’s ties with key Western allies, his office said on Thursday. Khashoggi, a prominent critic of Saudi policy, was killed in the country’s Istanbul consulate on Oct. 2, after a struggle, by a lethal injection dose and his body was dismembered and taken out of the building, deputy public prosecutor and spokesman Shaalan al-Shaalan told…

Saudi Arabia, Iraq to work for oil market stability

BAGHDAD: Iraq and Saudi Arabia agreed on Saturday to work together to stabilise oil markets, Iraq’s Oil Ministry spokesman Asim Jihad said, without giving further details. During a meeting in Baghdad, Iraq and Saudi Arabia’s oil ministers also discussed an electricity grid connection between the two countries to meet Iraq’s power needs, he said. The Saudi oil minister Khalid al-Falih also met Iraqi Prime Minister Adil Abdul-Mahdi. Iraq currently pumps around 4.6 million barrels per day (bpd) of oil, second only to…

Turkey’s Erdogan says Khashoggi tapes given to key foreign nations

ISTANBUL: Turkey has given recordings related to the killing of Saudi journalist Jamal Khashoggi to Saudi Arabia, the United States, Germany, France and Britain, President Tayyip Erdogan said on Saturday. Turkish sources have said previously that authorities have an audio recording purportedly documenting the murder. “We gave the tapes. We gave them to Saudi Arabia, to the United States, Germans, French and British, all of them. They have listened to all the conversations in them. They know,” Erdogan said. Khashoggi, a…

No strings attached to Saudi economic package, clarifies Qureshi

ISLAMABAD: Foreign Minister Shah Mehmood Qureshi on Wednesday called for soul-searching to determine how the country found itself in the present situation. Speaking on the floor of the National Assembly, he asked who are responsible for the current state of the country. “Where are we heading? How the downward spiral of the economy began and how state institutions were rendered ineffective? Who is responsible for all this,” he questioned. “Today, people look towards institutions not the state for dispensation of…

Govt asked to apprise Senate of Saudi loan terms

ISLAMABAD: PPP leader and senator Sherry Rehman on Tuesday demanded of the PTI-led federal government to inform the Senate of the terms and conditions on which Saudi Arabia agreed to extend financial assistance to Pakistan to help it tide over the current economic difficulties. Speaking in the upper house of Parliament, the senator demanded that the government should disclose the terms on which the kingdom agreed to a rescue package for Pakistan. She further questioned on what basis Islamabad offered to play a role of…

Saudi Arabia to build first nuclear research reactor

RIYADH: Saudi Crown Prince Mohammed bin Salman on Monday laid the foundation stone for the kingdom's first nuclear research reactor, state media said, as the kingdom seeks to diversify its energy mix. The reactor was among seven projects launched by the prince during a visit to Riyadh's King Abdulaziz City for Science and Technology, the official Saudi Press Agency reported. SPA offered no details on when the research or non-power reactor -- typically used for research, development and education purposes -- would be…

Riyadh sent experts to cover up Khashoggi murder: Turkey

ANKARA: Saudi Arabia sent two experts to Istanbul with the specific aim of covering up evidence after the murder of journalist Jamal Khashoggi at its consulate in Istanbul, a Turkish official said on Monday. More than a month after the Saudi royal-insider-turned critic was killed inside the mission on October 2, Turkey has still yet to recover the remains amid claims that his body was dissolved in acid. "We believe that the two individuals came to Turkey for the sole purpose of covering up evidence of Jamal Khashoggi's…

Saudis host WWE wrestlers at ‘Crown Jewel’

RIYADH: Greased-up and trash-talking WWE stars clashed on Friday at the Crown Jewel extravaganza in Riyadh. Wrestling stars such as Shane McMahon, Seth Rollins and AJ Style brawled and snarled in the ring, sending a roar rippling through a soccer stadium packed with thousands of fans in Riyadh's King Saud University. With thumping rock music and a dazzling fireworks display, Hulk Hogan, the host for the evening, swaggered to the ring wearing bright yellow sunglasses and a red bandana. Addressing the crowd as…