Reports: Saudi Aramco Interested in Buying Controlling Stake in Sabic, Possibly Up to 70%; IPO Timeline in Question

Amin Nasser, CEO of Saudi Aramco.

Saudi Arabia

News, analysis, and more

Aramco-Sabic Deal

Saudi Aramco aims to buy controlling stake in SABIC: sources

Saudi Aramco aims to buy a controlling stake in petrochemical maker SABIC 2010.SE, possibly taking the entire 70 percent stake owned by Saudi Arabia’s sovereign ...

 

Investment

Saudi Arabia seeks to revive foreign investment

Saudi Arabia is ramping up efforts to lure international companies and revive Crown Prince Mohammed bin Salman’s plans for an economic makeover, after foreign investment ...

 

Economy

Saudi economy to buoy on rising oil production, says BMI

Saudi Arabia’s real GDP growth will accelerate substantially in 2018 and beyond, due to rising oil production and prices and recovering business confidence, according to ...

 

Iran in the Region

Prince Khalid: Iran helped Qaeda kill thousands of Saudis, Americans

In a series of tweets, Saudi Arabia’s Ambassador to the United States Prince Khalid bin Salman lambasted Iran’s support of terrorist groups like al-Qaeda, and ...

 

Travel and Tourism

Saudi family travel is dominating the tourism segment: report

Family and multi-generational travel is a rapidly expanding tourist segment within the global tourism industry, especially in the Middle East, with a number of Saudis ...

 

Technology

Saudi Arabia opens first smart pharmacy run by a robot

In order to save the time of patients and pharmacists, ensure better control of drug stocks, provide the highest safety standards, and reduce medication errors, the ...

 

Saudi Workforce

Saudi construction sector hardest hit by expat exodus

Saudi Arabia's construction sector was hardest hit by an outflow of expat workers during the first three months of 2018, according to new research. ...

 

Makkah Road Initiative

Makkah Road initiative eases pilgrims’ entry into Saudi Arabia

Saudi Arabia recently launched the Makkah Road Initiative in Indonesia and Malaysia in order to facilitate the journey of pilgrims. ...

 

Insurance

Insurance firms in Saudi Arabia impose exorbitant premiums on the elderly

Premium charged by a company for clients aged 66 and above was five or six times more than normal premiums for people aged below 55 ...

 

Retail

UAE retailer Lulu unveils $267m expansion plan for Saudi

Abu Dhabi-headquartered retail giant, Lulu Group, has unveiled its $267m (SAR1bn) expansion programme for Saudi Arabia. ...

 

Saudi-UK

Tony Blair is advising the Saudi government under a £9 million deal

The former prime minister's company reached an agreement earlier this year to help support the Saudi Crown Prince's modernisation programme, under a "not for profit" ...

 

Cybersecurity

STC trains Saudis in cybersecurity

Saudi Minister of Communications and Information Technology Abdullah Al-Sawaha recently launched a cybersecurity program for beginners organized by the Saudi Telecom Company (STC), in the ...

 

Security

Saudi security forces launch assault on drug smugglers

In its continuous war on drug, Saudi Arabia’s security forces arrested 1,628 among them 604 Saudi nationals, for drug crimes in the past year. ...

 

Saudi +

Regional and related topics

U.S.-Iran

Pompeo likens Iran’s leaders to the Mafia

Secretary of State Mike Pompeo on Sunday launched a blistering attack on Iran’s clerical and military rulers, calling them a kleptocracy akin to the Mafia ...

 

U.S.-Iran

Iran’s Rouhani warns Trump about ‘mother of all wars’

Iranian President Hassan Rouhani on Sunday cautioned U.S. President Donald Trump about pursuing hostile policies against Tehran, saying “war with Iran is the mother of ...

 

Iraq

Commentary: Protests are mounting in Iraq. Why?

Over the past week, protests and violence proliferated across Iraq’s southern provinces. In unprecedented scenes, buildings of provincial capitals were stormed, and the offices of ...

 

Saudi Nuclear Energy

Opinion: The US Must Build Saudi Arabia’s First Nuclear Reactors

Some country will supply the Kingdom with nuclear technology, but America is most likely to prevent Saudi Arabia from pursuing weapons and can do so ...

 

Egypt

Egypt’s Sisi says false rumors main threat to Arab countries

Egyptian President Abdel Fattah al-Sisi warned on Sunday that Arab countries, including Egypt, were vulnerable to imploding from within under what he described as a ...

 

Farnborough

Deals Proliferate at Farnborough Airshow Despite Political Worries

The show came amid political upheaval in the United Kingdom, with multiple leaders in government resigning over disagreements regarding the nation's Brexit departure from the ...

 

Oil Exports

Iran becomes India’s No. 2 oil supplier, ahead of Saudi

Iran was the second-biggest oil supplier to Indian state refiners between April and June, India’s oil minister said on Monday, replacing Saudi Arabia as companies ...

 

UAE

China’s Silk Road Fund to Buy 24% of U.A.E. Solar Thermal Plant

China’s Silk Road Fund will acquire a 24.01 percent interest in the world’s largest single-site solar thermal plant, which is being built in the United ...

 

Anti-ISIS Campaign

Russian-backed air strikes hit Islamic State in southern Syria: sources

Russian and Syrian jets stepped up their bombing of an Islamic State bastion along the Jordan-Israel border in southwestern Syria, as the militants pushed into ...

 

Islamic State

Islamic State announces death of one of its Egypt branch leaders

A local leader of Islamic State’s branch in Egypt’s Sinai Peninsula has been killed, the group and a security source said on Sunday. ...

 

U.S.-Turkey

How Turkish exporters plan to avoid impact of US trade wars

As US President Donald Trump forges ahead with his trade wars, Turkish businesspeople are working on a new strategy to boost sales to the United ...

 

Syria

White Helmets trapped in Syria: 300 rescue workers can’t get out

As many as 300 White Helmets are still trapped in Syria after an Israeli evacuation Sunday of hundreds of the rescue workers and their family ...

 

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