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saudi investment bank

Saudi Arabia needs oil prices at $70 to $75 for surplus

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Saudi Arabia

RIYADH: Saudi Arabia’s planned 2022 budget surplus of SR90 billion ($24 billion) depends on oil prices staying at $70 to $75/barrel, Arab News quoted Jadwa, a Saudi investment bank, as saying. Brent oil was trading at $73.01/barrel at 3:53pm Saudi time on Wednesday. The Saudi Ministry of Finance announced this week it expects revenues valued … Read more

Fitch revises six Saudi banks outlook to ‘stable’   

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fitch rating

RIYADH: Fitch Ratings has revised six Saudi Arabia’s banks’ outlooks to stable from negative and affirmed the Foreign Currency and Local Currency Long-Term Issuer Default Ratings (IDRs) at ‘BBB+’.  Fitch’s assessment considers the authorities’ strong ability to support the banking system, given large, albeit reduced from their historical levels, external reserves. It also reflects a long … Read more

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