ARAMCO-SABIC

Aramco Officials Begin Early Talks with Banks for SABIC Stake Financing, Report Says

industry-industrial-petrochemical-factory-foreign-investment
Saudi Aramco officials began early talks with banks about a potential debt financing of up to $70 billion to back its acquisition of a majority stake in Saudi petrochemical firm Sabic, Reuters reports, citing banking sources.

Saudi Arabia

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Tadawul

Saudi Bourse Steps Up Reforms With Derivatives Market in Sight

Saudi authorities “have been very much in a hurry, listening intently to what are the requirements for MSCI and, more importantly, requirements from the global ...

 

History

‘Cars used to sink in the sand:’ The story of the first motor syndicate in Saudi Arabia

The first Saudi syndicate of cars, founded 88 years ago in Makkah, led to a dramatic change in the pilgrims’ transport system, and the term ...

 

Saudi Aramco IPO

Saudi Bourse CEO Sees Aramco IPO as `Certain’ Despite Delay

Saudi Arabia’s bourse is in no doubt that state-owned oil giant Aramco will eventually list its shares on the local stock market following a delay ...

 

Oil Prices

Saudi Arabia aims to keep crude in $70 to $80 band: Sources

Saudi Arabia wants oil to stay between $70 and $80 a barrel for now as the world's biggest crude exporter strikes a balance between maximizing ...

 

MERS

Viral victory: How Saudi Arabia won the war against MERS

While new infections are still being sporadically recorded, the disease, also referred to as MERS coronavirus (MERS-CoV), has fallen to record lows in 2018, according ...

 

Security

Saudi Arabia intercepts Houthi missile, 26 wounded by shrapnel

Saudi Arabia’s air defense forces intercepted and destroyed a ballistic missile fired by Yemen’s Houthis in the southern city of Najran, wounding 26 people with ...

 

King Abdullah Economic City

CEO of Saudi’s Emaar the Economic City replaced after resignation

KAEC comprises six components, which include a sea port, an industrial district, an educational zone, resorts, a residential area, and a central business district featuring ...

 

U.S.-Saudi Relations

American trainer killed in Riyadh helicopter crash

An American trainer working with Saudi Arabia’s National Guard was killed on Thursday in a helicopter crash in Riyadh in the course of a routine ...

 

Security

Death penalty sought for Saudi for helping banned Brotherhood

The Public Prosecutor urged on Wednesday the specialized criminal court to award the death penalty to a Saudi accused of founding a youth organization affiliated ...

 

Baker Hughes

Baker Hughes Set to Invest over $270ml in Saudi Arabia

The Saudi Arabian General Investment Authority (SAGIA) announced on Wednesday that Baker Hughes, a subsidiary of General Electric, is preparing to expand its investment in ...

 

Labor

Starbucks launches 2nd series of education for employment program

STARBUCKS launched the second series of its "Opportunity Café" and “Pathway to a Job" programs in partnership with Education for Employment (EFE). The two programs ...

 

Economy

Saudi economy ‘on right course’

Custodian of the Two Holy Mosques King Salman received the 54th annual report of the Saudi Arabian Monetary Authority (SAMA) which reviews economic and financial ...

 

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Regional and related topics

Syria

Russian-led advance on Idlib could displace 700,000 Syrians

Aid agencies fear that as many as 700,000 people could be displaced within a day of a Russian-led bombardment of Syria’s Idlib province as momentum ...

 

Iran

Fears rise in Iran as currency crash causes chaos after U.S. sanctions

Iran’s rial fell to a record low on Wednesday as worried residents of Tehran lined up outside beleaguered moneychangers, part of a staggering 140-percent drop ...

 

Israel in the Region

In Secret Program, Israel Armed and Funded Rebel Groups in Southern Syria

Israel secretly armed and funded at least 12 rebel groups in southern Syria that helped prevent Iran-backed fighters and militants of the Islamic State from ...

 

Abraaj

Greater controls may be silver lining in Abraaj collapse

The collapse of Abraaj Group may disrupt private equity businesses in the Middle East and North Africa, which have registered a decline in number of ...

 

Iran Sanctionis

How Europe plans to skirt Trump’s sanctions and keep doing business with Iran

With a second round of U.S. sanctions set to take effect in November, European officials are working at cross-purposes with Trump's "maximum pressure" campaign as ...

 

China in the Region

BRI and the Promise of Cooperation

BRI is in its early stages: The aspiration of cooperation, learning and private-public financing has great promise. But that requires significant changes from the early ...

 

Exxon Mobil

Exxon Moves Ahead on China Projects as Trade Tensions Simmer

Exxon Mobil Corp., the U.S. energy behemoth, signed deals to move ahead on a proposed multibillion-dollar petrochemical project and a gas import terminal in southern ...

 

Oman

Oman’s Port Strategy

Oman could potentially succeed in establishing two commercial hubs that become highly important to the international economy, perhaps one day rivaling Dubai’s Jebel Ali. ...

 

Yemen Civil War

With Yemen in turmoil, U.N. seeks to build trust as first step towards peace

Yemen’s first round of peace talks in almost three years aims to build confidence between the warring sides, U.N. mediator Martin Griffiths said on Wednesday, ...

 

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