MUST-READS

• Capital Markets
  Second-tier stocks boost Saudi, other markets narrowly mixed

  Second-tier stocks boosted Saudi Arabia's bourse on Thursday as oil prices rebounded from an overnight tumble, but other Gulf markets were narrowly mixed. Egypt's stock index fell but ended well off its lows.

• Saudi Reserves
  Saudi Arabia budget insulated from effects of lower oil prices

  Saudi Arabia is the largest exporter of crude oil and other petroleum liquids in the world, and their oil exports accounted for 89% of the country's total revenue in 2014. The recent decline in global oil prices is decreasing the value of these exports, leading to a potential budget shortfall. In its 2015 budget, Saudi Arabia plans to spend about $230 billion but expects to take in $190.7 billion in revenue, resulting in an overall deficit of $38.6 billion. While the oil price assumption was not specified in Saudi Arabia's budget, the budget was crafted in December 2014, when crude oil prices were between $55 and $70 dollars per barrel.

• Egypt and Aljazeera
  Al Jazeera journalists Mohamed Fahmy and Baher Mohamed freed

  Al Jazeera journalists Mohamed Fahmy and Baher Mohamed have left prison in Egypt following their release on bail. They spent more than a year behind bars. On Thursday a court ordered their release pending a retrial this month. They are accused of spreading false information and helping the banned Muslim Brotherhood.

  • Financial Times - IMF sends ‘message of confidence’ for Egypt’s economic reforms
• Saudi-Lebanon
  Saudi/French arms shipment to Lebanon to arrive in April

  The Saudi grant, which was announced on Dec. 29, 2013, is now more than 400 days old, and the senior French official chose the only day regarded by both the Lebanese and the French as a joke to implement it.

• Maaden
  Saudi builder Khodari wins $170m deal from Ma’aden unit

  Saudi Arabian builder Abdullah Abdul Mohsin Al-Khodari and Sons said on Thursday it had been awarded a $170 million contract from a unit of Saudi Arabian Mining Co (Ma'aden).

• Banking and Finance
  Saudi Hollandi Bank proposes 20% capital hike to support growth

  Saudi Hollandi Bank has proposed increasing its capital by 20 per cent through a bonus share issue for funding business activities and growth, the lender said in a statement.

• Health and Fitness
  Lifestyle puts 1 in 4 Saudis at heart attack risk, study says

  Social media are turning Saudis into "electronic potatoes" and contributing to unhealthy lifestyles which leave one in four at risk of suffering a heart attack over the next decade, experts said Friday.

• PIF
  POSCO to sell stake in construction unit to Saudi fund

  South Korean steelmaker POSCO has signed a preliminary deal with Saudi Arabia's Public Investment Fund (PIF) to sell part of its construction unit for about 1.5 trillion won ($1.36 billion), Korea Economic Daily reported.

• Saudi Weather
  Strong sandstorm blankets Saudi capital Riyadh

  A massive sandstorm swept through the Saudi capital Riyadh on Thursday, hampering visibility and causing traffic snarls and is expected to last for two days.

• Gitmo
  Medical Records Sought for Saudi Facing Guantanamo Trial

  Lawyers for a Saudi prisoner charged in the Sept. 11 terrorist attack on the U.S. argued for access to more of his medical records and to allow him to meet with officials from his government as the latest pretrial hearing in the case ended nearly a week ahead of schedule Thursday.

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