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14 Nov 23
High oil prices and fiscal discipline seem set to boost Gulf Cooperation Council governments’ fiscal situations, S&P Global Ratings has said.
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6 Apr 23
Large foreign reserves and low government debt levels drove Saudi Arabia’s credit rating upgrade, ratings agency Fitch has said.
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13 Dec 21
High oil prices will next year allow Saudi Arabia to post its first budget surplus since 2013, according to the government.
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1 Oct 21
The Saudi Arabian government has forecast a budget surplus from 2023, as recovering oil prices has seen revenues rise.
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5 Aug 21
Falling oil revenues amid Covid-19 reemphasises the need for Gulf Cooperation Council countries to diversify their economies to spread risk, according to a report by World Bank economists.
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16 Feb 21
Companies seeking government contracts in Saudi Arabia will need to set up regional headquarters in the country by 2024, an official has said.
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17 Nov 20
Saudi Arabia’s sovereign wealth fund will inject 150bn riyals (£30bn) into the Kingdom’s economy in 2021 to help spur its recovery from low oil revenues and Covid-19, the country’s crown prince has...
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13 Aug 20
Higher funding needs from responding to Covid-19 along with declining oil sales will lead to greater sukuk issuance this year by the largest sovereign issuers, despite its decline as an overall share...
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12 May 20
Saudi Arabia is set to suspend the living allowance for state employees, in a bid reduce spending amid an economic outlook hit by plunging oil prices and the coronavirus pandemic.
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24 Apr 20
The fiscal deficit caused by the collapse of oil prices and the coronavirus pandemic could force Saudi Arabia to borrow about $26bn more than it planned this year, as well as draw down up to $32bn...
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16 Mar 20
Nearly 300 Saudi officials have been arrested during a crackdown on corruption, accused of offences including bribery, embezzlement and abusing their public positions.
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26 Nov 19
Saudi Arabia is looking for countries’ sovereign wealth funds to invest in its state-owned oil company as it prepares to list it on the stock market.
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19 Nov 19
The imminent listing of Saudi Arabia’s state-owned oil company on the local stock market could strengthen the government’s finances, according to a ratings agency.
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19 Sep 19
The value of bonds in Saudi Arabia’s state-owned oil company have fallen following attacks on the organisation’s facilities.
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19 Aug 19
Sudan’s ex-president has admitted to receiving millions of dollars from Saudi Arabia, a detective has told a court at the start of a corruption trial.
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25 Feb 19
The UK government is to provide an additional £200m of aid to Yemen, where millions of people are suffering in what has been called the “world’s worst humanitarian crisis”.
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18 Feb 19
Saudi Arabia has promised investment deals worth $20bn with Pakistan to help boost its struggling economy.
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7 Feb 19
Saudi Arabia has set up a new office to monitor public spending, despite ending its official crackdown on corruption.
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30 Jan 19
Saudi Arabia has suspended 126 local government workers from various municipalities on corruption charges, the Ministry of Municipal and Rural Affairs has said.
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19 Dec 18
The Saudi Arabian government has announced its biggest-ever budget, with a 7% spending increase next year, to boost economic growth.
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26 Oct 18
Saudi Arabia has agreed to a $6bn rescue package for Pakistan to help it deal with debt problems.
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5 Sep 18
The exiled Yemeni government has pledged to raise the salaries of public sector employees after hundreds of people protested against the rising cost of living.
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20 Aug 18
Saudi Arabia has pledged $100m to back a US programme of support to parts of Syria that are no longer held by the Islamic state.
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4 May 18
The UK High Court is to hear a campaign group’s appeal against a judgement which allows the UK government to sell arms to Saudi Arabia.
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5 Apr 18
Donor countries have pledged more than $2bn in humanitarian aid in response to the “worst manmade humanitarian crisis” in Yemen, at a pledging event in Geneva on Tuesday.