Economics and Policy
Saudi Arabia should cut energy subsidies that are burdening public finances, the economy minister and the head of the state-run utility said, a move that would also tackle the issue of erosion of crude exports.
Companies and Business
Saudi Basic Industries Corp (SABIC), the world's biggest petrochemicals group, will issue a sukuk late this year or next year to fund coming projects, a senior company official said on Tuesday.
Lebanese real estate giant Solidere has successfully closed a $185 million securitization transaction through BLC Bank and BSEC – Bemo.
Dow Chemical Co has received $2.2bn in damages from Kuwait's state chemicals company, bringing an end to a more than four-year dispute over a scrapped plastics joint venture.