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Finance

Natixis’ investment banking office opened in Saudi Arabia

DUBAI (Finance) – French investment bank Natixis has opened a corporate and investment banking office in Saudi Arabia’s capital Riyadh and appointed former JPMorgan banker Reema al-Asmari as its chief executive officer, the bank said on Sunday. Western financial institutions have been seeking opportunities in Saudi Arabia since the government unveiled plans to
Middle East

Saudi Arabian airlines domestic flights to resume from May 31

CAIRO (Middle East) – Saudi Arabian airlines intend on resuming some domestic flights starting Sunday. Saudi Arabia begins to ease coronavirus containment measures. In the first phase, sixty flights will resume a day. Domestic travel bans, mosque prayers, and government and private sector workplace attendance will be lifted from May 31. (Photo syndicated via
Business

Saudi Aramco is on track with SABIC stake acquisition

DUBAI (Business) – Saudi Aramco’s planned acquisition of 70% equity stake in SABIC from the Public Investment Fund (PIF) is on track to be completed in the second quarter. The Aramco statement was made in response to a story mentioning that Aramco is looking for deal restructuring for a controlling stake in SABIC, after the […]
Middle East

The Middle East faces an expatriate exodus

DUBAI/RIYADH (Middle East) – A popular Saudi talk show host told private businesses this week it was their national duty to lay off foreign rather than local employees, warning that the dominance of Saudi Arabia’s workforce by expatriates was a “real danger”. Khaled al-Oqaily’s comments on his daily TV show encapsulated the dilemma faced by