Page 17 - Saudi Arabia

A tightrope between Israel and Arab ties

A prolonged Israel-Hamas conflict may, at some point, pose a threat to Indian financial assets

Vedanta's arm Malco Energy sets up new unit in Saudi for copper business

Vedanta's arm Malco Energy Ltd has set up a new unit in Saudi Arabia for copper business at an investment of 1,00,000 Saudi riyals (Rs 22.19 lakh). "Malco Energy Ltd, a wholly-owned subsidiary of the Company, has incorporated a new wholly-owned Subsidiary in the name of 'Vedanta Copper International VCI Company Limited," metal and mining giant Vedanta said in a filing to BSE. Vedanta Copper International VCI Company Limited has been incorporated to explore growth opportunities in new geographies, it said. Vedanta had earlier announced plans to demerge five of its key businesses, including aluminium, oil and gas, and steel, into separate listed entities with a view to creating shareholder value. "The de-merger is planned to be a simple vertical split, for every 1 share of Vedanta Limited, the shareholders will additionally receive 1 share of each of the five newly listed companies," the firm had said in a stock exchange filing. The Board of Vedanta Ltd had approved "a pure-play, .

Why India's cricket league should turn down Saudi's $5 bn proposal

With its active support for expanding fossil fuel use, the Saudi government is wrong partner for the IPL and global cricket to achieve these goals

Best of BS Opinion: Saudi Arabia's cyber diplomacy, inflation & more

Here is the best of Business Standard's opinion pieces for today

Saudi Arabia's cyber diplomacy

In a deeply polarised arena, the kingdom is carving out its niche in global cybersecurity cooperation

Riyadh Air set for 100 Boeing Max jets order in Dubai to expand fleet

The carrier, launched by Saudi Arabia's Public Investment Fund, is considering placing a firm orders for 50 jets along with a similar number of options as early as Dubai Air Show that begins Monday

TMS Ep560: Saudi eyes IPL, Virat Kohli, Samvat 2079, FTX-Sam Bankman-Fried

Why are the Saudis interested in IPL? Is Virat Kohli the ODI GOAT? How did markets perform in Samvat 2079? What is the FTX-Sam Bankman-Fried case all about? All answers here

Lupin, Amman Pharma collaborates for exclusive marketing of Ranibizumab

Lupin Limited has partnered with pharmaceutical manufacturer Amman Pharmaceuticals Industries for exclusive marketing and commercialisation of Ranibizumab in the West Asian region

Oil set for third weekly decline as Middle East conflict concerns ebb

The three weeks of declines are the longest weekly losing streak for both contracts since a four-week drop from mid-April to early May.

Top Hamas leader trapped in bunker as forces enter 'heart of Gaza': Isreal

Saudi Arabia will host summits of Arab and Islamic nations in coming days to discuss the Israeli-Palestinian conflict, Saudi Arabia's investment minister said on Wednesday

Oil prices up 1.5% as Saudi Arabia and Russia stick to supply cuts

Oil was rebounding after both benchmarks lost about 6 per cent in the week to November 3

Gulf crudes make a comeback as Russian Urals grade turns expensive

The share of Russian oil imports in India's overall crude import basket slumped by 8 percentage points on the month in October

Fifa World Cup: Australia won't bid for 2034, Saudi Arabia likely to host

Football Australia on Tuesday said it won't bid for the 2034 FIFA World Cup, clearing the way for Saudi Arabia to host the men's marquee tournament. The chances of Australia hosting the 2034 event appeared unlikely after the Asian Football Confederation (AFC) backed the Saudi bid on October 5. Indonesia's football association initially showed interest in a joint bid with Australia, potentially alongside Malaysia and Singapore, but that faded when Indonesia instead backed Saudi Arabia. We have explored the opportunity to bid to host the FIFA World Cup and having taken all factors into consideration we have reached the conclusion not to do so for the 2034 competition, Football Australia said in a statement. Australia will instead attempt to secure hosting rights for the 2029 Club World Cup and the 2026 Women's Asian Cup. We believe we are in a strong position to host the oldest women's international competition in the world, the AFC Women's Asian Cup 2026, and then welcome the ...

Saudi Arabia's economy suffers biggest contraction since 2020 on oil cuts

Gross domestic product shrunk 4.5% in the third quarter compared to a year earlier, driven by a 17% drop in the oil economy

Unprecedented rise in India-Saudi strategic relations

India's trade with the Arab world has already surpassed an all-time high of $240 billion a year

Essar plans to make Saudi Arabia regional hub to drive expansion locally

Saudi Arabia has been trying to shift its economy away from oil and is aiming to manufacture more than 300,000 cars annually by 2030

India, Saudi Arabia commerce ministers discuss ways to promote trade ties

Commerce and Industry Minister Piyush Goyal on Wednesday held discussions with his Saudi Arabian counterpart Majid bin Abdullah AlKassabi on ways to further promote trade ties between the two countries. Goyal was in Riyadh for two days to attend the seventh edition of Future Investment Initiative (FII). "Discussed how the robust India-Saudi trade ties can be further scaled to make global supply chains more resilient," Goyal said on social platform X. He also met Saudi Arabia Energy Minister Prince Abdul Aziz Bin Salman Al-Saud; Investment Minister Khalid A Al Falih; Industry and Mineral Resources Minister Bandar bin Ibrahim AlKhorayef; and Governor Public Investment Fund (PIF) Yassir Rummayyan. Goyal talked about the multiple opportunities offered by India. The bilateral trade between the countries stood at USD 52.75 billion in 2022-23 against USD 42.86 billion in 2021-22. India received USD 3.22 billion in foreign direct investment from Saudi Arabia between April 2000 and June 2

India, Saudi Arabia discuss ways to increase bilateral investments

Commerce and Industry Minister Piyush Goyal on Tuesday met Saudi Arabia's Minister of Investment Khalid A Al-Falih, and discussed ways to boost bilateral investments between the two countries in different sectors. Goyal, who is on a two-day visit to Riyadh, also participated in the seventh edition of the Future Investment Initiative (FII) in Riyadh. "Met H.E. @Khalid_AlFalih, Saudi Arabia's Minister of Investment. Discussed expanding investment across diverse sectors to foster economic growth & further enhance the strategic partnership between India & Saudi Arabia," Goyal said in a post on X. In the FII event, Goyal deliberated on new pathways for investment with the goal of creating a positive global impact and navigating new frontiers of growth and prosperity. FII Institute is a global non-profit foundation, which aims to gather government and business leaders from around the world to discuss new pathways for investment. Its four areas of focus are artificial intelligence ...

Hamas attacked Israel in part to stop agreement with Saudi Arabia: Biden

President Joe Biden said Friday he thought Hamas was motivated to attack Israel in part by a desire to stop that country from normalising relations with Saudi Arabia. One of the reasons Hamas moved on Israel they knew that I was about to sit down with the Saudis, Biden said at a fundraising event. The US president indicated that he thinks Hamas militants launched a deadly assault on October 7 because, Guess what? The Saudis wanted to recognise Israel and were near being able to formally do so. Jerusalem and Riyadh had been steadily inching closer to normalization, with Biden working to help bring the two countries together, announcing plans in September at the Group of 20 summit in India to partner on a shipping corridor. Israeli Prime Minister Benjamin Netanyahu met with Biden on the sidelines of the UN General Assembly in September and told him, I think that under your leadership, Mr President, we can forge a historic peace between Israel and Saudi Arabia. The Saudis had been ..

Israel-Hamas conflict clouds loom over crude oil and LNG supplies

Iran getting drawn into Israel war could hamper nearly 80 percent of liquified natural gas flows to India