Aramco ready for foreign float alongside primary domestic listing
Saudi Aramco is primed to float on international markets to complement a planned domestic initial public offering (IPO) which has been selected as its primary listing, the state oil giant's chief executive said on Tuesday.
'Energy for Prosperity' - it's the slogan of the World Energy Congress in Abu Dhabi this week ... Where the talk was of Saudi Arabia's plans to float a chunk of its oil giant, Saudi Aramco.
It could, according to CEO Amin Nasser, be a two-stage process: An IPO in its home market - plus a flotation on international markets.
(SOUNDBITE) (English) ARAMCO CEO, AMIN NASSER, SAYING: "The decision is with the shareholders.
From Aramco's side, as we always say, we are ready for whatever the decision is, to list locally, which is going to be the primary listing to list locally, but we are ready also for listing outside." Nasser was following comments from the new Saudi energy minister, Prince Abdulaziz bin Salman.
The aim, he said on Monday (September 9), was for a share sale "as soon as possible." In what could be the world's biggest IPO, Aramco is preparing to sell up to a 5% stake by 2020-2021.
On Thursday, Apple released a blockbuster earnings report. On Friday, Apple shares surged as much as 7%. Apple's market capitalization briefly overtook Saudi Aramco's on Friday, dethroning the oil giant as the most valuable company in the world. Apple's market value at $1.762 trillion. Apple's recent tear has sent shares up roughly 39% year-to-date. The company also on Thursday announced a 4-1 stock split, which it said would help it appeal to a broader range of investors.
Former top Saudi intelligence official Dr. Saad Aljabri has charged the Saudi Crown Prince of ordering his assassination. CNN reports Aljabri alleged in a legal complaint in DC District Court that an assassination squad traveled from Saudi Arabia to Canada to try to kill him. Aljabri says the squad came after him just days after journalist Jamal Khashoggi was murdered by members of the same group.
Saudi Arabia's 84-year-old ruler, King Salman bin Abdulaziz, has been admitted to hospital in the capital Riyadh, suffering from inflammation of the gall bladder, state news agency SPA said on Monday. Ryan Brooks reports.
A Turkish court is trying in absentia two former aides of Saudi Crown Prince Mohammed bin Salman and 18 other Saudi nationals over the 2018 killing of Washington Post columnist Jamal Khashoggi.View on euronews
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At least 64 Indian citizens returned to Indore from Abu Dhabi under 'Vande Bharat Mission' on August 09. "All passengers were undergone through screening, not a single passenger reported any COVID-19 symptoms. They will be now shifted to quarantine facility," said Indore Nodal Officer, Dr Amit Malakar. The mission launched on May 07 to repatriate Indians stranded around the world during coronavirus lockdown.
New York (CNN) Attorneys for Ghislaine Maxwell asked a federal judge on Monday to direct the Bureau of Prisons to release her into the general population of the federal facility where she's incarcerated, saying she has been "held under uniquely onerous conditions" in the wake of last year's jailhouse death of her former boyfriend and alleged accomplice, Jeffrey Epstein. "As a result of what occurred with Mr. Epstein, Ms.
Equity benchmark indices were subdued during early hours on July 07 in lacklustre trading amid mixed cues from Asian peers. At 10:15 am, the BSE S and P Sensex was up by 78 points or 0.21 per cent at 36,565 while the Nifty 50 edged up by 10 points or 0.09 per cent at 10,774. Most sectoral indices at the National Stock Exchange were in the red except for Nifty IT which moved up by 1.7 per cent, pharma by 0.8 per cent and auto by 0.5 per cent. IT stocks appeared to be the flavour of the day with Infosys gaining by 2.6 per cent to Rs 784.50 per share. Wipro was up by 1.6 per cent, HCL Technologies by 1.5 per cent and Tech Mahindra by 1.3 per cent. Auto stocks also gained marginally with Bajaj Auto and Tata Motors moving up by 1.6 per cent each and Maruti Suzuki by 1.1 per cent. However, Power Grid Corporation slipped by 2.5 per cent to Rs 173.40 per share. Grasim was down by 2.4 per cent, ONGC by 2.1 per cent, ITC by 1.7 per cent and Tata Steel by 1.6 per cent. Meanwhile, Asian indices traded mixed despite a strong close on Wall Street overnight. In Japan, Nikkei traded down by 0.7 per cent as the market participants seemed concerned over the rising number of new Covid-19 cases in Tokyo.
Boris Johnson visits St Joseph's Catholic Primary School in Upminster, eastLondon, to see work to make schools safe for return in September. The PrimeMinister struck a conciliatory tone to education unions, praising the workthey had done to make classrooms safe. Speaking to reporters at a school ineast London, he said: “It’s very important that everybody works together toensure that our schools are safe and they are – they are Covid secure – I havebeen very impressed by the work that the teachers have done, working with theunions, to make sure that all schools are safe to go back to in September.
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A teenager has died after being stabbed in London’s West End. Police werecalled to reports of an assault on Market Place at the junction with OxfordStreet at 5.38pm on Saturday, Scotland Yard said. Officers found a male, agedin his late teens, suffering from a stab injury. Police said he was taken to acentral London hospital where he was pronounced dead at 7.33pm.
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Many Britons are set to bask in another hot day, with temperatures in the30Cs. The mercury looks set to reach 35C on Sunday - with Kent, Sussex andparts of London being the most likely to see the highest temperatures,according to Met Office forecaster Craig Snell. It comes as the Met Officewarned “severe thunderstorms” are likely early next week.
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CNN reports Hong Kong media tycoon Jimmy Lai was arrested early Monday. Lai is known for his support of the city's pro-democracy movement and criticism of China. The arrest comes under the new security law imposed on the city last month by Beijing, which bans "collusion with foreign forces." The Hong Kong Police Force say seven people were arrested, aged 39 to 72. Charges against them include collusion with foreign forces to endanger national security, and conspiracy to commit fraud.
On Monday, US stocks climbed 300-points. Investors warmed to President Donald Trump's weekend stimulus orders against China tensions and new coronavirus cases. On Saturday, President Trump signed executive actions extending coronavirus aid after Congress failed to come to an agreement last week. US-China tensions escalated when China imposed fresh sanctions on several members of Congress over Hong Kong.
In a controversial move, Jimmy Lai, a media mogul in Hong Kong was arrested reportedly under a new security law. He is the owner of Next Digital Ltd which runs the flagship newspaper, Apple Daily. Police personnel were seen carrying boxes out of Lai's organisation's office. The news organisation has backed pro-democracy protests rocking the city since last year when Beijing tried to enforce a controversial extradition law which critics said was an assault on Hong Kong's autonomy. Large-scale, and sometimes violent, protests have gripped the territory in opposition to an alleged assault on the 'one country, two systems' principle which has ensured that the former British colony enjoys greater personal freedoms than mainland China. Beijing's critics have also slammed the new security law, calling it a tool to crush dissent and protests. It contains punishment for charges like secession, subversion, terrorism and collusion with foreign forces. Lai has reportedly been accused of the last one. Many countries like the United States of America and the United Kingdom have also unequivocally criticised the security law. However, pro-China voices claim that the legislation will help end unrest and bring 'normalcy' back to the city. Watch the full video for more.
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