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In 2021, Saudi Arabia's Public Investment Fund (PIF) sold 120 million shares in Saudi Telecom Company (stc Group) for $3.2 billion after completing a secondary share offering of stc Group. [12] [13] The STV Investment Fund, which invests in small and medium-sized companies in communications and information technology, was established in 2018. [25]
Location of Saudi Arabia. Saudi Arabia is a sovereign Arab state in Western Asia constituting the bulk of the Arabian Peninsula. The country's command economy is petroleum-based but slowly diversifying; in 2017 58% of budget revenues and 85% of export earnings came from the oil industry. [1] [2] The country plans to reduce oil-based revenues to ...
Saudi Aramco: Dhahran 329.8 88.2 398.3 1,900 Oil and gas: 212 Saudi Basic Industries: Riyadh 37.3 1.5 83.4 59.8 Chemicals: 315 Saudi Telecom Company: Riyadh 14.6 2.9 32.1 48.3 Telecommunications: 396 Saudi National Bank: Riyadh 6.8 3.1 135.2 29.6 Banking: 473 Al-Rajhi Bank: Riyadh 5.3 2.8 102.4 38.1 Banking: 590 Saudi Electricity Company ...
The Tadawul All-Share Index is a price index in which all stock corporations on the Tadawul Stock Exchange are listed. It reflects the development of the entire Saudi Arabian stock market. [ 1 ] The index level is determined exclusively based on share prices and is only adjusted for income from subscription rights and special payments.
The Saudi Parallel Market (Nomu) (Arabic: السوق الموازية - نمو), is a parallel equity market in Saudi Arabia launched the Saudi Stock Exchange (Tadawul) on 26 February 2017 with lighter listing requirements. Nomu serves as an alternative platform for companies to be publicly listed.
CST] is responsible for regulating the ICT sector in Saudi Arabia. The Telecommunications Act, issued by Royal Decree in 2001, provide the legal framework for organizing this sector. This Act involves a number of objectives such as: Providing advanced and adequate telecommunication services with affordable prices, creating an appropriate ...
On 8 March 2020, Saudi Arabia initiated a price war on oil with Russia, which facilitated a 65% quarterly fall in the price of oil. [1] The price war was triggered by a break-up in dialogue between the Organization of the Petroleum Exporting Countries (OPEC) and Russia over proposed oil-production cuts in the midst of the COVID-19 pandemic. [1]
Saudi Arabia was also the Philippines' largest trading partner and import supplier, and second largest export market in the Middle East. According to the Saudi government, trade between Saudi Arabia and the Philippines amounted to $3.6 billion in 2011, a bigger figure from compared to the previous year's trade figure amounting to $2.7 billion.