1 CONSTRUCTION OF GASHUUNSUKHAIT–GANTSMOD PORT RAILWAY BEGINS WWW.GOGO.MN PUBLISHED:2025/06/16      2 EVERYONE’S FRIEND: HOW MONGOLIA STAYS ON GOOD TERMS WITH RUSSIA, CHINA AND WESTERN POWERS WWW.IRISHTIMES.COM PUBLISHED:2025/06/16      3 RECONSTRUCTION OF KHARKHORIN CITY BEGINS WWW.MONTSAME.MN PUBLISHED:2025/06/16      4 MONGOLIA PICKS REFORMER TO LEAD CABINET AFTER FORMER PM EXITS IN SCANDAL WWW.MSN.COM PUBLISHED:2025/06/16      5 MONGOLIA'S CENTRAL BANK KEEPS BENCHMARK INTEREST RATE UNCHANGED AT 12 PCT WWW.XINHUANET.COM PUBLISHED:2025/06/16      6 KHAAN QUEST 2025 INT'L PEACEKEEPING EXERCISE KICKS OFF IN MONGOLIA WWW.XINHUANET.COM PUBLISHED:2025/06/16      7 MONGOLIA AND RUSSIA JOINTLY DEVELOP E-COMMERCE AND LOGISTICS AS FREE TRADE AGREEMENT NEARS WWW.RUSSIASPIVOTTOASIA.COM  PUBLISHED:2025/06/16      8 ZANDANSHATAR GOMBOJAV APPOINTED AS PRIME MINISTER OF MONGOLIA WWW.MONTSAME.MN PUBLISHED:2025/06/13      9 WHAT MONGOLIA’S NEW PRIME MINISTER MEANS FOR ITS DEMOCRACY WWW.TIME.COM PUBLISHED:2025/06/13      10 ULAANBAATAR DIALOGUE SHOWS MONGOLIA’S FOREIGN POLICY CONTINUITY AMID POLITICAL UNREST WWW.THEDIPLOMAT.COM PUBLISHED:2025/06/13      THETIMES.COM ДЭЭРХ "В.ПУТИНИЙ ХАМСААТАН ЕРӨНХИЙЛӨГЧ НЬ ЕРӨНХИЙ САЙДАА ОГЦРУУЛЛАА" ГЭСЭН НИЙТЛЭЛ ЗАХИАЛГАТ БАЙВ УУ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/16     1 М.КВ ТАЛБАЙ СҮХБААТАР ДҮҮРЭГТ ХАМГИЙН ӨНДӨР БУЮУ 5.49 САЯ ТӨГРӨГИЙН ХАНШТАЙ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/16     ШИНЭ ХАРХОРУМ ХОТЫН БҮТЭЭН БАЙГУУЛАЛТ АЛБАН ЁСООР ЭХЭЛЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/06/16     СЭЛБЭ ГОЛЫН ДАГУУ 21.6 КМ ҮЕРИЙН ДАЛАН, ТОХИЖИЛТ ХИЙНЭ WWW.ZINDAA.MN НИЙТЭЛСЭН:2025/06/16     ГАШУУНСУХАЙТ–ГАНЦМОД БООМТЫН БҮТЭЭН БАЙГУУЛАЛТЫН БАРИЛГЫН АЖЛЫГ ЭХЛҮҮЛЛЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2025/06/16     БӨӨРӨЛЖҮҮТИЙН ЦАХИЛГААН СТАНЦЫН II БЛОКИЙГ 12 ДУГААР САРД АШИГЛАЛТАД ОРУУЛНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/15     ОРОН СУУЦНЫ ҮНЭ 14.3 ХУВИАР ӨСЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/15     МОНГОЛ УЛСЫН 34 ДЭХ ЕРӨНХИЙ САЙДААР Г.ЗАНДАНШАТАРЫГ ТОМИЛЛОО WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/13     SXCOAL: МОНГОЛЫН НҮҮРСНИЙ ЭКСПОРТ ЗАХ ЗЭЭЛИЙН ХҮНДРЭЛИЙН СҮҮДЭРТ ХУМИГДАЖ БАЙНА WWW.ITOIM.MN НИЙТЭЛСЭН:2025/06/13     МОНГОЛ БАНК: ТЭТГЭВРИЙН ЗЭЭЛД ТАВИХ ӨР ОРЛОГЫН ХАРЬЦААГ 50:50 БОЛГОЛОО WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/13    

Saudi Arabia continues to burn through foreign reserves www.rt.com

Riyadh’s foreign reserves dropped to $555 billion, down $6 billion in July, as low oil prices continue to eat up the country's assets abroad.Saudi Arabia’s foreign holdings are 16 percent down on the same month in 2015 and are at their lowest level since February 2012. The holdings peaked in August 2014 at $737 billion falling with oil prices.
 
The assets are likely to consist of US dollars, securities like US Treasury bonds and deposits with banks abroad. The deposits reduced by $8 billion to $125 billion in July, but holdings in foreign securities grew by $2 billion to $371 billion after 10 straight months of contraction.
 
In an attempt to corner the global market and oust high-cost oil producers like US shale, Saudi-dominated OPEC introduced predatory prices for its oil, pushing crude from $114 a barrel in the summer of 2014 to the current $50.
 
Last year, the Saudi budget deficit hit an historic high of $98 billion. Riyadh expects this figure to drop to $87 billion. To cover some part of the deficit, the government has been borrowing domestically and abroad.Despite this, the Kingdom has no plans to cap production, pumping a record 10.67 million barrels of oil per day in July.
 
Saudi Arabia also expects to issue its first international bonds in October to raise at least $10 billion. Citigroup, HSBC and JPMorgan Chase were hired as global coordinators for the sale, according to Bloomberg.


Published Date:2016-08-30