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FINANCIAL NEWS
Saudi Arabia’s move from petchem takes shape
13 May 2016
(MENAFN) GCC equity markets saw a sell-off as crude oil prices continued to decline, thus top economists are advising that investors must focus on companies that are not overly reliant on hydrocarbons.
In accordance, the previous 12 months have presented Saudi Arabia with a great opportunity to strengthen its economic fundamentals while spurring a move toward greater diversification.
The recent budget announcement for this year by KSA signal that it’s scaling back non-essential spending, but are continuing to invest significantly in infrastructure, education, and social programs.
Moreover, the kingdom recently revealed that it would implement a value-based tax on undeveloped lands, in order to increase revenues and discourage landowners from holding vacant plots.
More News
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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