Economy



Saipem wins Saudi order

MILAN: Italian oil services firm Saipem said it had won around $2 billion worth of engineering, construction and drilling contracts in the Middle East and Latin America.



Saudi Telecom posts SR3.37bn net profit

JEDDAH: Saudi Telecom Co. (STC), the Gulf's No.1 telecoms operator by market value, reported flat third-quarter profit on Monday, beating estimates despite paying higher taxes than a year ago.



RCCI to discuss investment scope with Poland mission

The Riyadh Chamber of Commerce and Industry (RCCI) will host a meeting bringing together a visiting Polish trade mission representing a group of companies working in the field of furniture products wi



NCB IPO 27.2 percent subscribed at 9th day end

The initial public offering (IPO) of the National Commercial Bank (NCB) was 27.2 percent covered by the end of the 8th day, according to the financial advisers and lead managers GIB Capital and HSBC S



Seoul forum to spur Saudi trade

A Saudi-South Korean business forum and exhibition will kick off at the Grand Intercontinental Seoul, on Wednesday under the aegis of Minister of Commerce and Industry Tawfiq Al-Rabiah.



US oil price tumbles to a 28-month low

CALGARY, Alberta: US oil prices briefly tumbled to a 28-month low below $80 per barrel on Monday after Goldman Sachs slashed its price forecasts amid further signs of lackluster demand and booming sup



Tadawul slides after SABIC, SEC disappoint

JEDDAH: Most stock markets in the Middle East fell after several companies reported poor third-quarter earnings and European equities edged down along with oil prices.



Toyota global sales rise 2.8%

TOKYO: Toyota said global sales climbed 2.8 percent in the first nine months of this year as it battles Volkswagen for leadership.




Tasnee Q3 profit rises 7.6 percent

DUBAI: Saudi Arabia's National Industrialization Co. (Tasnee) reported a 7.6 percent rise in third-quarter net profit on Monday.

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