Managing Saudi Arabia’s new energy mega-ministry, set to oversee over half the economy and designed to cut through a tangled bureaucracy to make government more coherent and efficient, will be Continue Reading
As OPEC officials gathered this week to formulate a long-term strategy, few in the room expected the discussions would end without a clash. But even the most jaded delegates got Continue Reading
Saudi construction giant Binladin group has laid off tens of thousands of workers, leading to rare protests, as workers torch seven buses demanding compensation as low oil prices begin to Continue Reading
OPEC has yet to agree on a long-term strategy as Saudi Arabia objects to a proposal from arch-rival Iran that the exporter group aim for tighter control of the oil Continue Reading
Saudi Arabia has been in the news recently for several interconnected reasons. Underlying it all is a spendthrift country that is rapidly becoming insolvent. While the House of Saud remains Continue Reading
Employees at giant construction firm, the Saudi Binladin Group, have set fire to more than seven company buses to protest a reportedly large round of looming layoffs and not being Continue Reading
The decline in Saudi Arabia’s net foreign assets slowed for a third month, helped by a rebound in oil prices as well as spending cuts and domestic bond sales. Net Continue Reading
A view of the Khurais oilfield, about 160 km (99 miles) from Riyadh, June 23, 2008. Saudi Arabia’s oil output will edge up close to record highs in coming weeks Continue Reading
A surge of volatility in China’s once placid commodities futures markets has rattled industrial players who use them for hedging, with some taking losses or cutting exposure, driven out by Continue Reading
The powerful young prince overseeing Saudi Arabia’s economy unveiled ambitious plans on Monday aimed at ending the kingdom’s “addiction” to oil and transforming it into a global investment power. Deputy Continue Reading
