During a financial summit held in Riyadh on Wednesday, Saudi Finance Minister Mohammed al-Jadaan reported that following the results of the first quarter, the country recorded a budget surplus of 27 billion 800 million Saudi riyals for the first time since 2014. The Saudi economy in 2014 suffered as a result of the sharp decline in oil prices that began in the world. According to the Minister of Finance, in the first quarter, revenues from oil exports increased, as well as non-oil revenues. Budget revenues increased by 48%, while spending increased by 8%. The oil sector provided a growth in budget revenues of $149 billion riyals, while non-oil revenues also increased significantly, reaching $76,300 million riyals. The country's GDP in 2018 increased by 2.2%. The share of the non-oil sector in its volume amounted to 56.2%. Last year, the budget deficit fell to 5.9% of GDP from 9.3% of GDP in 2017.
On Monday, Remington Arms Co. filed for bankruptcy protection for the second time since 2018 as the U.S. firearms manufacturer faced financial difficulties due to gun sales restrictions. According to the court filing, the company filed for ...
China's diesel exports for June fell by 50% year-on-year, a record low since September 2018 as lockdown measures around the world continued to curb fuel demand. China exported has 1.04 million tons of diesel, compared to the 1.45 million and ...
Renault SA (RENA.PA) announced on Monday that its global car sales fell by 34.9% in the first half of the year due to the impact of the coronavirus pandemic. However, the company said that it had seen some signs of recovery in June. The French ...
China saw positive customs data on Tuesday, raising hopes that the world’s second-largest economy is on the way to recovering from the COVID-19 pandemic. Exports for June rose 0.5% year-on-year compared to an analysts’ forecast ...
American multinational automaker Ford Motor Co. (F.N) announced on Thursday that its vehicle sales increased by 3% from April to June in mainland China. It would be the first time that the company's first quarterly sales rose in the world's ...