Saudi Basic Industries Corp. plans to expand global investments, mainly in China, as the world’s largest petrochemicals maker posts a lower first-quarter profit amid a shortage of raw materials in its home market.
Saudi Arabia boosted crude exports by 3.5 percent in February to the highest in five months, while Iran’s shipments gained and Iraq sold the most oil for at least 12 years, the Joint Organisations Data Initiative said.
The government of Saudi Arabia is trying to reassure its citizens that the most recent outbreak of a respiratory virus isn’t a cause for alarm following 16 new cases, including two deaths, reported in the last nine days.
The flash of purple abayas at a conference in Saudi Arabia’s second-largest city, Jeddah, was more than a fashion statement. It’s a sign of the changes Jeddah is embracing as King Abdullah slowly loosens restrictions on women in his conservative land.
NBK Capital, the private-equity unit of National Bank of Kuwait SAK, hired Perella Weinberg Partners LP as adviser to sell its stake in a Saudi consumer- finance company, two people familiar with the matter said.