Saudi Arabia Injects $5.3 Billion To Stabilize Banking Amid Crunch -- September 25, 2016

Washington Post article here.

Same story at Arabian Business.

Same story at NASDAQ.

At Bloomberg:

The announcement comes as the world’s biggest oil exporter prepares to sell its first international bonds to finance a budget deficit that the International Monetary Fund expects to reach about 13 percent of economic output this year. The economy will likely expand 1.1 percent in 2016, according to a Bloomberg survey, the slowest pace since 2009.

The Saudi index for banking shares has declined 17.6 percent this year, compared with a 14.4 percent drop for the benchmark Tadawul All Share Index.