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Electrical Industries Co. plans to raise $194 million from an initial public offering as the Saudi company joins the kingdom’s biggest bank in tapping rebounding investor demand for share sales.
Hindsight can be cruel. In 1932, amid a global economic slump, the impoverished Saudis came to London looking for a loan. They also had an offer: would Britain like to try drilling for oil? A disdainful Foreign Office mandarin gave the fateful reply, writes Matthew Teller - no loan, and no drilling.
The American presence at Al-Dhafra, which the Pentagon has not publicly acknowledged, is a vital part of the U.S.-led campaign against Islamic State militants: The base’s twin runways have launched more strike aircraft — including the Air Force’s most-sophisticated warplane, the F-22 Raptor — than any other military facility in the region.
“My hope is that before going to the court process, the prosecutor could be content to drop the case to see that maybe the accusations are not quite substantial,” Larijani said, according to a Euronews transcript of the interview provided to The Washington Post.
A Saudi cargo plane carrying food and relief aid provided by Custodian of the Two Holy Mosques King Abdullah to Afghanistan arrived at Kabul airport on Monday evening.
About 1.25 million people ordered shares at a total value of 310.7 billion Saudi riyals ($82.8 billion) for the 300 million shares, or 15% of the bank’s stock, offered to retail investors. An additional 10% of the bank was allocated to the kingdom’s Public Pension Agency.
“Saudi Arabia is not going to give up market share to Iraq, to Iran, to other countries who are cheating” by pumping more, Daniel Yergin, the Pulitzer Prize-winning oil historian and vice chairman of Englewood, Colorado-based consultancy IHS Inc., said in an Oct. 31 interview on Bloomberg Television. “It’s hard to see an OPEC deal at the end of November.”
On Monday, Mobily cut its profits for 2013 and the first half of 2014 by a combined SAR1.43 billion ($381.2 million), citing accounting errors, and also reported a 71 per cent drop in third-quarter profit. Mobily’s actions prompted the bourse regulator to launch a probe.
Congress doesn’t agree with [the White House's] posture, and in 2002 it passed a law that, among other things, allows Jerusalem-born applicants for U.S. passports to record their place of birth as “Israel” if they so request. President Bush signed that law but attached a signing statement declining to enforce the passport provision because it “impermissibly interferes with the President’s authority to conduct the Nation’s foreign affairs.” Barack Obama similarly contends that the provision is unconstitutional. The "Zivotofsky vs. Kerry" case invokes this 2002 passport law and has returned a thorny debate over executive power and foreign policy to the highest court in the land.
The program, run by the Institute for International Education's Center for Women's Leadership Initiatives in San Francisco, pairs each participant with two successful American women — a professional mentor and a cultural mentor — for five weeks of exchange and networking in the San Francisco Bay Area and Washington, DC. Those exchanges are a key component of a program that aims to empower young women in a region where they still face many obstacles.
