Samba merger would create a banking giant in terms of loans with almost a 30% market share in the kingdom The combination of National Commercial Bank and rival Samba Financial Group would create the …
Saudi Arabia sees a 3b riyal rise in net foreign assets during May
With reserves at the lowest in almost a decade, Saudi Arabia has tried to rein in spending at home as it faces a double crisis from the outbreak and a major decline in energy reve …
BRI: Saudi Arabia’s BATIC signs smart cities agreement with Huawei
The company said in a stock exchange statement that the both companies would partner to operate smart cities platform and services in Saudi Arabia encompassing parking, transportation, energy …
Saudi Arabia steps up fight against commercial cover-ups
Coffee shops and restaurants in Saudi Arabia will have to make e-payment available to their customers by late July under a national scheme to combat commercial cover-ups in the kingdom, according to a …
Saudi’s Samba Shares Surge After $15.6 Billion Takeover Bid
Samba Financial Group jumped in Saudi Arabia after rival National Commercial Bank, the kingdom’s largest lender by assets, offered to acquire it for as much as $15.6 billion.The shares advanced 9.9% …
How Saudi Arabia’s $15.6 Billion Bank Merger Would Stack Up
The combination of National Commercial Bank and rival Samba Financial Group would create the third-largest lender in the Gulf Cooperation Council and a national champion to compete with regional …
From Saudi Arabia, a welcome call for tolerance and moderation
Given the link between Saudi Arabia’s monarchy and the rise of radical Islam, Muhammad Al-Issa might not be your idea of a typical Saudi cleric. The 55-year-old secretary general of the Muslim World …
Saudi Arabia limits number of pilgrims ahead of Hajj
There was disappointing but expected news for millions of Muslims around the world this week, as Saudi Arabia banned foreign travellers from entering the country because of the COVID-19 pandemic. As …
Saudi Arabia’s Hunt For Cheap Sports Assets
Cash is king, especially at a time when sports properties are being hammered by the pandemic. And if there’s one thing Saudi Arabia’s wealth fund has, led by Crown Prince Mohammed bin Salman, is …
Saudi Arabia achieves remarkable reforms to combat human-trafficking, UN body says
Ali affirmed that these efforts contributed to improving Saudi Arabia’s ranking in the United Nations’ assessment, as well as in assessments of other countries, with regard to combating …