Bloomberg Saudi Electricity Co., the dominant electricity provider in the Arab world’s biggest economy, reported its best quarterly profit in more than a decade after the state-controlled utility raised prices following subsidy cuts. Third-quarter net income surged to 4.4 billion riyals ($1.2 billion) from 2.92 billion riyals in the year-earlier period, the company said in a statement to the ...

  Bloomberg Saudi Arabia is repaying debts to contractors after long delays that squeezed company finances and hurt investor sentiment. Finance Minister Ibrahim Al-Assaf said in a televised interview on MBC Wednesday that payments have been “regularized and will rise in the coming period.” While he didn’t offer details, three people familiar with the matter said the government has started ...

  Reuters Exxon Mobil’s boss Rex Tillerson and Saudi Arabia’s energy minister took opposing views on declining investment in the oil sector setting the stage for a possible major supply crunch. More than two years of downturn that saw oil prices halve to around $50 a barrel today after a boom in U.S. shale oil production have led to a ...