Saudi GDP climbs nearly 12% in 2nd quarter on oil gains
- 31-Jul-2022
RIYADH: Saudi Arabia’s year-on-year economic growth hit nearly 12 percent for the second quarter, led by a surging oil sector, the government’s statistics agency said Sunday. The Middle East’s largest economy has benefited from a spike in oil prices triggered by Russia’s invasion of Ukraine, and has largely resisted appeals from Western countries to raise output […]
Norway wealth fund hits ‘milestone’ $1 trillion value
- 19-Sep-2017
OSLO: Norway’s sovereign wealth fund, the largest in the world, on Tuesday reached the value of $1 trillion dollars for the first time, the Norwegian central bank, which manages the fund, said. This amount equals nearly $189,000 (157,000 euros) for each of the 5.3 million people living in Norway. Established in the 1990s to manage […]
Saudi Arabia to pay billions as oil revenues collapses
- 11-Nov-2016
RIYADH: Saudi Arabia is working to pay billions of dollars owed to private firms after oil revenues collapsed, the kingdom’s new finance minister said on Thursday.
Saudi plans up to $17.5 bn in first bond issue: Bloomberg
- 19-Oct-2016
RIYADH: Saudi Arabia plans to raise up to $17.5 billion from its first international bond issue, Bloomberg News reported on Wednesday, as analysts expect strong buyer interest. It would make the Saudi issue the largest ever from an emerging-market nation, said Bloomberg News, which cited two people with knowledge of the offer. The figure exceeds […]