Christine Burke

1 week ago | news.bloomberglaw.com | Christine Burke |Colin Keatinge

Saudi National Bank is tapping investors for a dollar-denominated debt sale, continuing a borrowing spree by the kingdom’s lenders that are helping finance a $2 trillion economic overhaul. SNB launched the offering of a $1.25 billion Tier 2 note, with a tenor of 10 years and spread of 200 basis points over US Treasuries, according to a person familiar with the matter, who asked not to be identified discussing private information. Order books exceeded $4 billion, the person said.

1 week ago | news.bloombergtax.com | Christine Burke |Colin Keatinge

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1 month ago | news.bloomberglaw.com | Adveith Nair |Christine Burke

Two years after it was left nursing losses from the rapid collapse of Credit Suisse, the head of Saudi Arabia’s Public Investment Fund said it will no longer invest in the country’s financial markets. Middle Eastern investors were hit particularly hard by Switzerland’s abrupt decision to bypass investor votes when UBS Group AG took over Credit Suisse in a government-backed rescue at a steep discount.

2 months ago | business-standard.com | Christine Burke |Mirette Magdy |Matthew Martin

The oil-price crash is set to have far-reaching consequences for Saudi Arabia's finances and vast economic ambitions. The kingdom's budget deficit will probably soar to $67 billion this year, Goldman Sachs Group Inc. calculated in projections provided exclusively to Bloomberg News.

2 months ago | business-standard.com | Omar Tamo |Christine Burke

Main equity benchmarks in Middle East countries including Saudi Arabia sank the most since 2020 on Sunday as investors reacted to the risks of a fresh global trade war and depressed oil prices. Stocks on the kingdom's main exchange fell as much as 6.1%, while gauges in Qatar and Kuwait dropped more than 5.5%. Equities in Tel Aviv dropped the most since October 2023, when Hamas launched the deadly attack on Israel that sparked the start of the war in Gaza.