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Search resuls for: "Saudi Arabia’s"


12 mentions found


Saudi Arabia has suspended Turkish meat imports - Turkish union
  + stars: | 2020-11-27 | by ( Ceyda Caglayan | ) www.reuters.com + 0.00   time to read: +3 min
ISTANBUL (Reuters) - Saudi Arabia formally suspended imports of meat, eggs and other products from Turkey earlier this month, the Turkish exporters’ union said, after a months-long informal boycott of Turkish goods over political tensions between the two regional rivals. REUTERS/Umit BektasTurkish exporters have reported increasing obstacles to trade in Saudi Arabia, as businessmen in the Gulf Arab state have led calls for bans on Turkish imports and as ties between the two countries deteriorated. Ankara says it has been told by Riyadh that there is no formal boycott, but the exporters’ union said it had been informed by Turkey’s trade ministry that imports of some Turkish goods had been suspended earlier this month. Turkey’s Exporters Assembly says exports to Saudi Arabia fell 16% in the first 10 months of this year to $2.23 billion. “Even though there was no official ban, we were unable to send many products to Saudi Arabia anyway, including chicken products,” said Sait Koca, general manager of a poultry company.
Persons: Tayyip Erdogan, Saudi King Salman, Jamal Khashoggi, Turkey’s, Ruhsar Pekcan, ” Pekcan, Saudi Arabia’s King Salman, Joe Biden, Erdogan, , Sait Koca, Weeks Organizations: REUTERS, , Reuters, Turkey’s Trade, World Trade Organisation, Saudi Locations: ISTANBUL, Saudi Arabia, Turkey, Saudi, Ankara, Gulf, Istanbul, Riyadh, Sabah, U.S
Saudi Arabia's STC Pay plans to expand its financial services offering across the Gulf region, after achieving a billion-dollar "unicorn" valuation on the back of a deal with Western Union. "We are very proud of becoming the first unicorn in the Kingdom and the first fintech unicorn in the Middle East," STC Pay CEO Ahmed Alenazi told CNBC in an exclusive interview on Monday. STC Pay is the digital payment arm of Saudi Arabia's STC Group, the largest telco operator in the Kingdom. STC Pay is now in talks with Gulf regulators to seek approval to operate in the United Arab Emirates, Kuwait and Bahrain, subject to regulatory approvals. "This is where we want to change the way people look at financial services," Alenazi said.
Persons: Ahmed Alenazi, Alenazi Organizations: Saudi Arabia's, Western Union, STC, CNBC, Saudi Arabia's STC Group, United Arab Locations: Kingdom, Saudi Arabia, Western, United Arab Emirates, Kuwait, Bahrain
G20 communique unanimous but Turkey wanted 'voice heard': host
  + stars: | 2020-11-22 | by ( Reuters Staff | ) www.reuters.com sentiment -0.98   time to read: 1 min
FILE PHOTO: Saudi Minister of Finance Mohammed al-Jadaan wears a protective mask as he attends a virtual meeting of G20 finance ministers and central bank governors in Riyadh, Saudi Arabia July 18, 2020. G20 Saudi Arabia/Handout via REUTERSDUBAI (Reuters) - The G20 summit’s final communique was approved unanimously by all countries, but Turkey wanted its “voice to be heard”, Saudi Arabia’s Finance Minister Mohammed al-Jadaan said on Sunday in a news conference closing out the two-day online meeting.
Persons: Mohammed, Jadaan, Mohammed al Organizations: Saudi, REUTERS DUBAI, Reuters, Saudi Arabia’s Finance Locations: Riyadh, Saudi Arabia, Turkey
Saudi crown prince proposes holding two G20 summits a year
  + stars: | 2020-11-22 | by ( Reuters Staff | ) www.reuters.com sentiment -0.97   time to read: 1 min
Saudi Crown Prince Mohammed bin Salman chairs final session of the 15th annual G20 Leaders' Summit in Riyadh, Saudi Arabia, November 22, 2020. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERSDUBAI (Reuters) - Saudi Arabia’s Crown Prince Mohammed bin Salman on Sunday proposed holding two G20 summits annually in the future: one, virtually, mid-year, and a second in-person at the end of the year. Speaking on the last day of the summit, the prince said the G20 presidency will issue its final communique and also a separate statement from Turkey detailing Ankara’s views towards that communique. He gave no more details about the statement.
Persons: Prince Mohammed bin Salman, Saudi Arabia’s Crown Prince Mohammed bin Salman Organizations: Saudi Royal Court, REUTERS DUBAI, Reuters, Saudi Arabia’s Crown Locations: Saudi, Riyadh, Saudi Arabia, Bandar, Turkey
FILE PHOTO: A man sits on a chair next to Western Union currency exchange office in Prague, Czech Republic, September 8, 2017. REUTERS/David W Cerny/File PhotoDUBAI (Reuters) - Western Union, the world’s largest money transfer firm, has acquired a 15% stake in the digital payment unit of Saudi Arabia’s STC Group for $200 million. He said the deal created the first “Saudi unicorn and the first fintech unicorn in the Middle East”. Reducing dependence on cash is part of Saudi government efforts to modernise the economy of the world’s largest oil exporter. STC said its stc pay unit is the first licensed fintech company by the Saudi Arabian Monetary Authority, the Saudi central bank, and has more than 4.5 million users.
Persons: David W Cerny, Mohammed bin Khalid Abdullah Al Faisal Organizations: Western Union, REUTERS, DUBAI, Reuters, Saudi Arabia’s, stc, STC, Unicorns, Saudi Arabian Monetary Authority Locations: Prague, Czech Republic, Western, Saudi
Slideshow ( 2 images )DUBAI (Reuters) - Saudi Arabia’s King Salman said in his opening remarks to G20 leaders on Saturday that they must work towards affordable and equitable access to vaccines and other tools to combat the COVID-19 pandemic. “Although we are optimistic about the progress made in developing vaccines, therapeutics and diagnostics tools for COVID-19, we must work to create the conditions for affordable and equitable access to these tools for all peoples,” he said, opening the meeting of the leaders of the 20 biggest world economies.
Persons: Saudi Arabia’s King Salman Organizations: Reuters Locations: DUBAI, Saudi
RIYADH/DUBAI (Reuters) - Saudi Arabia’s Minister of Investment Khalid al-Falih said on Saturday foreign direct investment (FDI) increased by 12% in the first half of 2020 compared with the same period last year. FILE PHOTO: Saudi Arabian Investment Minister Khalid al-Falih, wears a mask as he attends a virtual meeting of B20 at the Saudi Business Group summit in Riyadh, Saudi Arabia October 26, 2020. “When I mentioned the 12% increase I wanted to assure people that there was no decline, our FDI target is much higher,” Falih said on Saturday. As part of efforts to attract foreign investors, Saudi Arabia will launch next year special economic zones dedicated to several sectors, Falih said. In addition to attracting higher investment volumes, it will focus on “qualitative growth”, he said, mentioning areas such as cloud computing, renewable energy, tourism, culture, entertainment, and logistics.
Persons: Khalid, Falih, Khalid al, Ahmed Yosri, “ I’m, ” Falih Organizations: Reuters, Saudi Arabia’s, Saudi Arabian Investment, Saudi Business Group, REUTERS, Saudi Aramco Locations: RIYADH, DUBAI, Saudi, Riyadh, Saudi Arabia
FILE PHOTO: Saudi Arabian Investment Minister Khalid al-Falih, speaks during a virtual meeting of B20 at the Saudi Business Group summit in Riyadh, Saudi Arabia October 26, 2020. REUTERS/Ahmed YosriDUBAI (Reuters) - Saudi Arabia’s Minister of Investment Khalid al-Falih said on Saturday the Gulf state plans to launch special economic zones in 2021. Speaking to a G20 panel, Falih also said the kingdom’s Vision 2030 plan to diversify the economy away from oil was more popular today than ever and that the country was emerging from the coronavirus pandemic with a resilient economy and private sector.
Persons: Khalid al, Ahmed Yosri, Khalid, Falih Organizations: Saudi Arabian Investment, Saudi Business Group, REUTERS, Reuters, Saudi Arabia’s Locations: Saudi, Riyadh, Saudi Arabia, Ahmed Yosri DUBAI
CAIRO (Reuters) - Saudi Arabia’s King Salman called Turkish President Tayyip Erdogan to coordinate efforts exerted within the work of the G20 summit, ahead of the summit which will take place on Nov. 21 and 22, state news agency SPA reported on Friday. Reporting by Hesham Abdul Khalek Our Standards: The Thomson Reuters Trust Principles.
Persons: Saudi Arabia’s King Salman, Tayyip Erdogan, Hesham Abdul Organizations: Thomson Locations: CAIRO, Saudi
Sovereign wealth funds rotate from U.S. stocks to bonds
  + stars: | 2020-11-18 | by ( Tom Arnold | ) www.reuters.com + 0.00   time to read: +3 min
LONDON (Reuters) - Sovereign wealth funds pulled $4.1 billion from United States stocks in the third quarter, while adding to their U.S. bond holdings by the most in at least three years, data showed on Wednesday. (Graphic: Sovereign wealth fund net flows in Q3 2020: )The preference for U.S. bonds could be a desire to seek quasi-cash in anticipation of future liquidity needs, said Hentov. Governments in several countries have drawn down savings from their funds in the months after the pandemic. Around 24 withdrawals totalling about $137 billion had been made from sovereign funds globally in the wake of the pandemic and commodity price collapse, Global SWF said in September. Across all forms of investment, U.S. allocations had grown in 11 out of a total of 15 sovereign funds which disclosed geographic allocation in their latest annual reports, noted Javier Capapé, director of the sovereign wealth research at IE Center for the Governance of Change.
Persons: Brendan McDermid, Elliot Hentov, ” Hentov, , , Rod Ringrow, Invesco, Javier Capapé, Joe Biden’s, Donald Trump’s Organizations: York Stock Exchange, New York Stock Exchange, REUTERS, U.S, Street Global Advisors, Saudi Arabia’s Public Investment Fund, IE Center Locations: United States, St, New York City , New York, U.S, Saudi
TOKYO (Reuters) - Oil prices fell in early trade on Friday as a spike in the number of COVID-19 infections raised fears for the global economy and near-term fuel demand, but remained on track for a second straight weekly gain amid hopes for a vaccine. FILE PHOTO: Pump jacks operate at sunset in Midland, Texas, U.S., February 11, 2019. REUTERS/Nick OxfordU.S. West Texas Intermediate (WTI) crude CLc1 futures dropped 40 cents, or 1.0%, to $40.72 a barrel by 0118 GMT, having lost 0.8% on Thursday. Brent crude LCOc1 was down 36 cents, or 0.8%, at $43.17 a barrel, after dropping 0.6% on Thursday. But the International Energy Agency (IEA) said on Thursday that global oil demand is unlikely to get a significant boost from the roll-out of vaccines against COVID-19 until well into 2021.
Persons: Nick, Brent, , Kazuhiko Saito, 22UAy.DE, Prince Abdulaziz bin Salman, Fujitomi’s Saito Organizations: REUTERS, Nick Oxford U.S . West Texas, Fujitomi, Pfizer Inc, International Energy Agency, COVID, Analysts, of, Petroleum, Saudi Arabia’s Energy Locations: TOKYO, Midland , Texas, U.S, United States, OPEC
Oil jumps on vaccine hopes and OPEC+ supply signals
  + stars: | 2020-11-09 | by ( Bozorgmehr Sharafedin | ) www.reuters.com + 0.00   time to read: +2 min
LONDON (Reuters) - Oil jumped by almost 10% on Monday for its biggest daily gain in almost six months after news of a highly effective Pfizer vaccine against COVID-19 and Saudi Arabia’s assurance that an OPEC+ oil output deal could be adjusted to balance the market. Maltese-flagged crude oil tanker Captain Paris sails in the Bosphorus as it is pictured from the July 15 Martyrs' Bridge, known as the Bosphorus Bridge in Istanbul, Turkey, November 8, 2020. “Asset prices move faster than the real economy, and oil and other risk assets are reacting positively today to the Pfizer vaccine news,” said BNP Paribas analyst Harry Tchilinguirian. Pfizer said its experimental vaccine was more than 90% effective in preventing COVID-19, based on initial data from a large study. Oil prices also found support from a weaker U.S. dollar on the back of Biden’s U.S. election victory, said UBS oil analyst Giovanni Staunovo.
Persons: Murad, Brent, , Harry Tchilinguirian, Prince Abdulaziz bin Salman, Joe Biden, Giovanni Staunovo, , Keisuke Sadamori Organizations: Pfizer, COVID, Saudi, REUTERS, West Texas, BNP, Saudi Arabia’s Energy, Organization of, Petroleum, U.S, Biden, ” ING, UBS, International Energy Agency Locations: OPEC, Maltese, Istanbul, Turkey, COVID, Saudi, Russia, Iran, Venezuela, China
Total: 12