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Arab News
2 days ago
- Business
- Arab News
Saudi Arabia's holdings in US Treasuries rise to $131bn in June
RIYADH: Saudi Arabia increased its holdings of US Treasury securities to $130.6 billion at the end of June, up $2.9 billion, or 2.3 percent, from May, according to official data. The Kingdom's holdings stood at $127.7 billion in May, compared with $133.8 billion in April and $131.6 billion in March, according to the US Treasury Department. The increase comes as Saudi Arabia, the world's largest oil exporter, manages its vast foreign reserves against a backdrop of shifting oil revenues, fluctuating global interest rates and ongoing diversification efforts under Vision 2030. Treasuries remain a key tool for Riyadh to park surplus funds in liquid, low-risk assets while balancing exposure to other currencies and asset classes. The report added that Saudi Arabia retained 17th place among the largest holders of such instruments in June. Compared with June 2024, Saudi Arabia's holdings in US Treasuries declined by 6.8 percent. The latest data also showed that the Kingdom is the only country in the Gulf Cooperation Council and the wider Middle East region to secure a place among the top 20 holders of US Treasury securities. Saudi Arabia's holdings were split between long-term bonds worth $103.5 billion, representing 79 percent of the total, and short-term bonds amounting to $27.1 billion, or 21 percent. Top holders Japan remained the largest investor in June with holdings totaling $1.14 trillion, up 0.9 percent from May. The UK ranked second at $858.1 billion, marking a 6 percent increase from the previous month. China followed with portfolios valued at $756.4 billion, little changed from $756.3 billion in May. The Cayman Islands and Canada ranked fourth and fifth with $442.7 billion and $438.5 billion, respectively. Belgium held sixth with $433.4 billion, followed by Luxembourg at $404.7 billion and France at $374.9 billion. Ireland was ninth with $317.4 billion, while Switzerland came 10th with $300.9 billion. Taiwan ranked 11th at $298.1 billion. Singapore held the 12th spot with $254.4 billion, followed by Hong Kong at $242.6 billion and India at $227.4 billion. Saudi Arabia's Treasury holdings are closely watched as they reflect the Kingdom's strategy of balancing reserve diversification with strong US financial ties. Treasuries are among the world's safest assets, and changes in Saudi positions often signal how major energy exporters deploy surplus revenues amid oil price swings and global interest rate shifts.
Trade Arabia
29-05-2025
- Business
- Trade Arabia
'OIL DEMAND STAYS STRONG' Aramco plans more borrowing to fund growth: CEO
Saudi Aramco is targeting more borrowing to finance growth and better leverage its balance sheet, Chief Executive Officer Amin Nasser said, as the world's biggest oil exporter raised $5 billion in bonds this week. more…
Bloomberg
29-05-2025
- Business
- Bloomberg
Aramco Raises $5 Billion in Year's First Dollar-Bond Sale
Saudi Aramco sold its first dollar-bond sale of 2025 on Tuesday, a $5 billion deal as the world's biggest oil exporter looks to leverage its balance sheet. The transaction consists of three tranches, according to a person familiar with the matter who asked not to be identified as they're not authorized to speak publicly. The longest-dated bond, a $2.25 billion 30-year issue, will yield 1.55 percentage point more than Treasuries, the person added, compared with initial price talk of about 1.85 percentage point. Proceeds will go toward general corporate purposes.
Bloomberg
29-05-2025
- Business
- Bloomberg
Aramco Boss Will Keep Borrowing Even as Oil Slump Cuts Cashflow
Saudi Aramco is targeting more borrowings to finance growth and better leverage its balance sheet, Chief Executive Officer Amin Nasser said, as the world's biggest oil exporter raised $5 billion in bonds this week. The Saudi state oil producer needs funds to plug a gap in finances as declining free cash flow amid weaker crude prices fails to cover a massive dividend payment, even after it was reduced. That's boosted net debt to the highest in almost three years and driven up leverage ratios, but they still remain way below some of the other major oil companies.
Malay Mail
25-05-2025
- Climate
- Malay Mail
UAE bakes at 51.6°C as May heatwave scorches streets, strains air cons and stuns residents
DUBAI, May 25 — The United Arab Emirates breached its May temperature record for the second day in a row, hitting 51.6 degrees Celsius on Saturday, within touching distance of the highest ever temperature recorded in the country. 'The highest temperature recorded over the country today is 51.6C in Sweihan (Al Ain) at 1.45pm UAE local time (5.45 Malaysian time),' the National Centre of Meteorology said in a post on X, just 0.4°C off the overall heat record in the Gulf country. The meteorology office told AFP the highest ever temperature recorded in the UAE since documentation began in 2003 was reported at 52°C on Abu Dhabi's Al Yasat Island in 2010. The desert nation, a top global oil exporter, lies in one of the planet's hottest regions and one which is particularly vulnerable to climate change. The temperature in Sweihan — which lies 97km west of Abu Dhabi — and of 50.4°C a day earlier in the Emirati capital exceeded the previous record for May of 50.2 Celsius recorded in 2009, according to the meteorology office. On Saturday in Dubai, where high temperatures in the mid-40 degrees Celsius were recorded, motorists complained air conditioning in their cars was struggling to stifle the sweltering heat, surprised the phenomenon had hit so early in the year. On the streets, Dubai inhabitants were still out and about — some armed with parasols — and vendors selling water and local juice bars appeared to enjoy an uptick in customers. The UAE, host of the COP28 climate talks in 2023, has just emerged from a record-breaking April with an average daily high of 42.6 degrees Celsius. A dashboard display shows an external temperature of 50 degrees Celsius outside a vehicle in Dubai May 23, 2025. — AFP pic Extremely hot days Scientists have shown that recurring heatwaves are a clear marker of global warming and that these heatwaves are set to become more frequent, longer and more intense. The number of extremely hot days has nearly doubled globally in the past three decades. Outdoor workers in Arab states face some of the highest exposure to heat stress in the world, with 83.6 per cent suffering from excessive heat exposure on the job, according to a 2024 report from the International Labour Organisation, a United Nations agency. The risks from a warming planet were on stark display last June, when more than 1,300 people died while performing the annual Muslim hajj pilgrimage to Mecca in neighbouring Saudi Arabia, according to an official tally — most of them unauthorised pilgrims exposed to long periods outdoors. According to a 2022 Greenpeace study, the Middle East is at high risk of water and food scarcity as well as severe heat waves as a result of climate change. The report, which focused on six countries including the UAE, found the region was warming nearly twice as fast as the global average, making its food and water supplies 'extremely vulnerable' to climate change. — AFP
