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Stay informed on the latest legal, regulatory, business and market developments relevant to Saudi Arabia and the region.
Yemen’s Houthi militia renewed its attacks on Saudi Arabia on Friday morning, warning of “catastrophic and unforeseen repercussions” if Yemeni tribes were attacked.
Oil prices were little changed in early Asian trade on Friday, after rising 4 percent to a five-month high in the previous session due to concern of further energy supply disruption after Houthi attacks on top exporter Saudi Arabia.
Houthi attacks on Saudi civilian and energy infrastructure killed four people in the Eastern Province on Wednesday, underscoring the growing threat posed by the Iran-backed militia’s widening terror campaign against the Kingdom.
The US-Israeli war with Iran has hit Gulf states harder than the rest of the Middle East and North Africa region, and even a sharp recovery next year will not fully reverse the economic losses, the International Monetary Fund has said.
President and CEO of Saudi Aramco Amin Nasser predicted that a return to normalcy in the region would drive an increase in oil demand of approximately 3 million barrels per day.
India on Thursday condemned the deadly attacks on an Aramco oil field and an airport in Saudi Arabia’s Eastern Province a day earlier, which killed at least one Indian national.
ارتفعت السوق السعودية 0.6 في المائة بدعم الأسهم القيادية، وصعد سهم «أرامكو السعودية» 2 في المائة، وسط ارتفاع النفط والتوترات الإقليمية.
NEW DELHI/SINGAPORE: Oil prices edged lower on Monday as rising Middle East crude exports and a release of oil stocks by the Group of Seven nations boosted supplies, offsetting concerns about further damage to Gulf oil infrastructure amid the US-Israeli war…
Oman’s economy grew between April and June this year as disruption to the Strait of Hormuz failed to dampen oil exports from the sultanate. GDP rose 5.1 percent year on year to OMR9.9 billion ($26 billion) in the quarter ended June 30, the state-run Oman News…