SAUDI ARAMCO IPO

Saudi Aramco Picks Advisors for Second Run at Initial Public Offering

Saudi Arabia’s energy minister Khalid Al Falih announced on Tuesday plans to develop the country's gas resources and extending a grid to UAE, Oman and Kuwait.
Saudi Aramco has made first selections for financial partners in its rejuvenated attempt to file for an initial public offering (IPO), choosing Bermuda-based Lazard Ltd. and Moelis & Co. as advisors, people with knowledge of the matter told Bloomberg.

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Aramco IPO

Aramco Said to Select Lazard, Moelis for World’s Biggest IPO

The boutique investment banks have started preparatory work on the offering, according to the people, who asked not to be identified because the information is ...

 

Motiva

Saudi Aramco To Buy Texas Chemical Plant Next to Port Arthur Refinery

Motiva has been expanding its presence in the Port Arthur area since disentangling North America’s largest refinery from its joint operation with Shell a couple ...

 

Women

Saudi Arabia implements end to travel restrictions for Saudi women

Saudi Arabia has begun allowing adult women to travel without permission and to exercise more control over family matters, state news agency SPA reported on ...

 

Yemen Civil War

Yemen separatist chief in Saudi Arabia for talks on Aden standoff

Saudi Arabia, the coalition leader, called for a summit after the separatists on Aug. 10 took over Aden, interim seat of the government, in a ...

 

Retail

Saudi mall operator Arabian Centres bucks retail malaise as profits surge

Arabian Centres, the Saudi mall operator which went public in May, said first-quarter consolidated net profit almost trebled to SR227 million ($60.53 million) as occupancy ...

 

Sports

STC pulls plug on US$1.76bn Saudi soccer rights deal

State-run Saudi Telecom Company (STC) has issued a statement to the Saudi Stock Exchange outlining its intention to terminate its ten-year, SAR6.6 billion media rights ...

 

Construction

Saudi awards $3bn projects in July as UAE completes $7bn schemes

Construction projects worth $3.3bn (SAR12.4bn) were awarded in Saudi Arabia in July 2019, while Oman announced new projects worth $5bn (OMR1.5bn) during the month, according ...

 

Retail Franchising

Fawaz Alhokair’s M&S deal in Saudi ends, still partners elsewhere

Marks & Spencer (M&S) said in an email that its franchised stores in Saudi Arabia were transferred to Al-Futtaim Group in 2018. M&S has 15 ...

 

Entrepreneurship

Saudi Arabian digital grocery firm Nana gets new capital injection

Middle East Venture Partners (MEVP) and Impact46 have invested in Nana Direct, a major online grocery buying and delivery platform serving 13 cities across Saudi ...

 

Technology

Lamsa: The Saudi App Retaining the Arabic Language

This is something that sparked the interest of app developer and CEO Badr Ward, who has created Lamsa, which is an Arabic educational and entertaining ...

 

Blockchain

Fraud alert over cryptocurrency falsely linked to Saudi Arabia

Fraudsters are trying to lure victims into investing in a “virtual currency” with false claims that it is linked to the Saudi riyal and will ...

 

National Day

Saudis to get four-day holiday for National Day celebrations

The National Day is always celebrated on September 23 to commemorate the renaming of the Kingdom of Nejd and Hejaz to Saudi Arabia by a ...

 

Saudi +

Regional and related topics

Yemen

US drone shot down over Yemen

The US believes the missile was provided to Houthi rebels by Iran, said the official, who added that it was not immediately clear if the ...

 

U.S.-Iran

Iran’s Zarif warns U.S. that Tehran may also act ‘unpredictably’

“Mutual unpredictability will lead to chaos. President Trump cannot expect to be unpredictable and expect others to be predictable. Unpredictability will lead to mutual unpredictability ...

 

Yemen Civil War

Yemeni separatists extend control in south, Saudi-led forces strike capital

Southern separatists seized most Yemeni government security and military bases near the port of Aden on Tuesday after clashes between nominal allies that have complicated ...

 

Yemen Civil War

Yemen Vows to Confront U.A.E.-Backed ‘Coup’ as Infighting Rages

Clashes between STC forces and government troops spread to other parts of southern Yemen on Tuesday despite Saudi efforts to halt the conflict and refocus ...

 

Oil Markets

Brent oil futures climb above $60 on U.S. inventory draw

Brent crude oil futures rose above $60 a barrel for the first time in over a week on Wednesday after a data report showed a ...

 

U.S.-Afghanistan

Commentary: Afghanistan Endgame Part One – Is Sirajuddin Haqqani Ready for Peace?

In peace talks with the Afghan Taliban, the United States should not fail to address the evolution of the Haqqani-al-Qaeda nexus. ...

 

Oil Tanker

Iran Oil Tanker Helm Makes Distress Call Near Saudi Red Sea Port

The vessel, one of the world’s largest crude tankers, signaled distress at 6:30 a.m. Iran time on Tuesday, about 75 miles (about 121 kilometers) off ...

 

Egypt

Egypt says security forces kill 11 militants in Sinai

Egyptian security forces killed 11 militants from a local affiliate of Daesh (the so-called IS) based in the restive North Sinai region, the interior ministry ...

 

Israel

Two Israeli Parties Sign Vote Deal That Might Hurt Netanyahu

While Netanyahu’s bloc, consisting of his traditional political allies, is forecast to secure several more seats than Gantz’s grouping, that could change if Blue & ...

 

Global Trade

Perspective: Mideast should lead way to new trade architecture

It is rare for three states in the Middle East and North Africa region to be in such a position of power to shape the ...

 

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