DUBAI / Reuters State-run Saudi Electricity Co (SEC), the Gulf’s largest utility firm, reported a narrowing first-quarter net loss as higher tariffs boosted its operating income. The company, which the government aims to split into several components this year to improve efficiency, made a loss of 1.37 billion riyals ($365.32 million) in the three months to March 31, according ...

  KHOBAR / Reuters Saudi Arabia’s National Industrialization Co’s chief executive expects to see the benefits of a restructuring soon and has a more positive outlook for the chemicals market. Like many Saudi petrochemical firms, Tasnee’s earnings have suffered as its product prices are closely tied to oil prices, which have slumped since mid-2014. To combat poor market conditions, Tasnee ...

  Seoul / AFP North Korean leader Kim Jong-Un hailed a submarine-launched ballistic missile (SLBM) test as an “eye-opening success”, state media said on Sunday, declaring Pyongyang has the ability to strike Seoul and the US whenever it pleases. Saturday’s launch came amid growing concern that Pyongyang is preparing a fifth nuclear test. But it was followed just hours later by ...