Reports: China Offers to Buy 5% of Aramco IPO

Chinese state-owned oil companies PetroChina and Sinopec have written to Saudi Aramco in recent weeks to express an interest in a direct deal to purchase up to 5% of Saudi Aramco, according to an exclusive report in Reuters.

Saudi Arabia

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Saudi Aramco IPO

Exclusive – China offers to buy 5 percent of Saudi Aramco directly

China is offering to buy up to 5 percent of Saudi Aramco directly, sources said, a move that could give Saudi Arabia the flexibility to ...


U.S.-Saudi Military Sales

Boeing receives $240M for Saudi AWACS system

The Department of Defense on Monday announced a new contract deal between Boeing and the Royal Saudi Air Force for an airborne warning and control ...


Public Investment Fund

Saudi Arabia’s PIF establishes recycling sector company

Saudi Arabia has announced it will establish a recycling sector company via the Public Investment Fund (PIF), as part of its ambitious Vision 2030 programme. ...



Showdown looms in Saudi Arabia’s e-commerce market

Saudi Arabia's online retail market has remained largely untapped, with only one major company operating within the Kingdom. Now Amazon and will be competing ...


Saudi Aramco IPO

Saudi Aramco asks FTI Consulting to halt IPO investor relations work: sources

State-owned Saudi Aramco has asked FTI Consulting (FCN.N) to suspend its investor relations advisory work related to the oil company’s planned initial public offering, people ...



Saudis earn double the salaries of expats in the private sector

A Saudi employee earns double the average monthly wage of a non-Saudi employee in the private sector, according to the latest data by the General ...


Women Driving

Eight Out of 10 Women Want to Drive in the Saudi Arabia

Following last month’s landmark ruling in Saudi Arabia lifting the ban on women driving—the last of its kind in the world—it has emerged that an overwhelming ...


Commercial Law

Commercial courts to boost investment in Saudi Arabia

Justice Minister Walid Al-Samaani has officially launched the commercial courts that would help enhance the business environment, encourage investment and boost economic development ...


Housing and Real Estate

Housing rents to be exempt from VAT in Saudi Arabia

Value Added Tax (VAT) will not be applicable to housing rents and government services in Saudi Arabia. ...


Renewable Energy

Wind turbines suspended high in the sky have potential as an alternative power source for Saudi Arabia

The notion of tethered wind turbines that generate electricity from abundant and reliable high-altitude winds seems futuristic. Now, KAUST research led by Georgiy Stenchikov has ...


Saudi History

400 Mysterious Ancient Stone Structures Discovered in Saudi Arabia

Almost 400 mysterious stone structures dating back thousands of years have been discovered in Saudi Arabia, with a few of these wall-like formations draping across ...


Commercial Courts

Commercial courts to boost investment in Saudi Arabia

Al-Samaani, who is also the Supreme Judicial Council chairman, said the three commercial courts in Riyadh, Jeddah and Dammam would help enhance the business environment, ...


Saudi +

Regional and related topics

Yemen Civil War

U.S. takes aim at Yemeni Islamic State for first time

The United States said it launched its first attack on Islamic State’s deadly Yemen branch on Monday with a series of nighttime airstrikes that residents ...


Islamic State

Syrian commander says Raqqa has been captured from militants

U.S.-backed Syrian forces liberated the city of Raqqa from Islamic State militants Tuesday, a senior commander said, in a major defeat for the collapsing extremist ...



6 killed in Turkey coal mine collapse

A coal mine collapsed in southeast Turkey on Tuesday, killing at least six miners. Rescuers were trying to reach one other mine worker who was ...



Afghan officials: Taliban wave of attacks kills at least 34

The Taliban unleashed a wave of attacks across Afghanistan on Tuesday, targeting police compounds and government facilities in the country's south, west and east and ...



After Kirkuk, Kurdish forces pull out of more areas in Iraq

urdish forces lost more territory in Iraq on Tuesday, withdrawing from the town of Sinjar a day after Iraqi forces pushed them out of the ...


Somalia Truck Bombing

US declares Somalia truck bombing disaster and sends ‘immediate’ aid after criticism for Puerto Rico response

The US has dispatched a military plane packed with medical and humanitarian supplies to Somalia, after the top American diplomat in the country declared the ...



Egypt expects to renew financing deal with global banks

Egyptian Finance Minister Amr El-Garhy said on Monday he expects a financing agreement with a consortium of global banks will be renewed for another year ...



ISIS-affiliated leaders killed in Southern Philippines

Two key ISIS-affiliated leaders engaged in a standoff with Philippines forces in the southern city of Marawi have been killed, the country's Defense Secretary Delfin ...


Global Oil Markets

The Petroyuan’s Time Hasn’t Come

Could the end of the petrodollar be in sight? Moves by China to set up its own crude futures contract and invest in Saudi Arabian Oil ...


Central Asia

Insta-stans: the cities of post-Soviet Central Asia captured on Instagram

From the stunning ancient cities of the Old Silk Road, to the ornate metro system of Almaty, social media allows people who live in or ...


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