Company Insights Saudi Aramco Oil & Gas Saudi Aramco News Analysis Oil & Gas Early demand is strong for Aramco’s $13bn share sale The Saudi oil giant Aramco’s secondary share offering opens to retail investors today in a sale that could bring huge dividend payouts if they set aside concerns over flagging oil prices and regional political tensions. Institutional investors covered the offer within a few hours on Sunday, but reports say Aramco is planning events in Britain […] June 3, 2024 Artificial Intelligence China’s OpenAI rival backed by Saudi fund Saudi Aramco’s venture capital fund Prosperity7 has joined a $400 million investment round for Chinese generative AI startup Zhipu AI. Prosperity7 is a minority investor in Zhipu, which is valued at nearly $3 billion, the Financial Times reported on Friday. This marks the first instance of foreign investment in China’s quest to establish a homegrown […] May 31, 2024 Markets Aramco to raise up to $13bn from new share offering Saudi Aramco confirmed on Thursday that it aims to raise up to $13 billion in a secondary public offering next month, as Riyadh seeks out new sources of funding to finance its portfolio of giga-projects. The world’s largest oil producer will sell a 0.64 percent stake, or 1.545 billion shares, in an offering that will commence on […] May 31, 2024 Giga-projects Saudi review says 87% of Vision 2030 projects ‘on right track’ Saudi Arabia’s top economic body discussed the progress of the kingdom’s Vision 2030 plan this week, citing a recent government report that 87 percent of its projects are “on the right track”. The Council of Economic and Development Affairs, which is headed by Crown Prince Mohammed bin Salman, convened on May 28 in a meeting […] May 30, 2024 Analysis Markets Foreign traders’ Gulf stock sell-off good news for bargain hunters Foreign investors’ recent cutting of their holdings in Gulf stocks should prove fleeting, and the sell-off provides other traders with the chance to accumulate equities at lower prices, fund managers told AGBI. Non-Gulf investors were net sellers of $597 million of Gulf-listed stocks in April, a report by the Dubai-based consultancy company Iridium revealed. Of […] May 30, 2024 Energy Saudi Aramco’s $10bn share sale slated for next month Saudi Aramco’s anticipated share sale is expected to take place next month, according to a media report. The offering is projected to raise nearly $10 billion and will be listed on the local stock exchange, Reuters reported, citing unnamed informed sources. The sources said details may still change, but the process continues. In September 2023, […] May 26, 2024 Trade Saudi Arabia ‘close’ to US defence pact and arms deal Saudi Arabia could be close to a security pact with the United States that would enable the kingdom to buy arms, potentially including the sought-after F-35 fighter jet, and obtain some form of US defence guarantee, White House officials said this week. John Kirby, the president’s national security spokesperson, said on May 20 that the […] May 23, 2024 Artificial Intelligence UAE and France agree joint investments in AI France and the UAE are to increase their collaboration in artificial intelligence, including joint investments, as they seek to become leaders in the AI sector. The French economy minister, Bruno Le Maire, signed a strategic agreement with Khaldoon Al Mubarak, chief executive of the UAE investment fund Mubadala and a member of the Abu Dhabi […] May 22, 2024 Oil & Gas Adnoc buys 10% in LNG project in Mozambique Abu Dhabi National Oil Company (Adnoc) has acquired a 10 percent stake from Portugal’s Galp Energia in the Rovuma basin concession in Mozambique as part of its global growth strategy. The acquisition will allow the UAE energy major a share of the liquefied natural gas (LNG) production from the concession, which has a combined production capacity […] May 22, 2024 Energy Sabic to pay $1.4bn dividend despite profit drop Saudi Basic Industries Corporation (Sabic) has declared a cash dividend of more than SAR5 billion ($1.4 billion) for the first six months of 2024. The board of the company, which is wholly owned by oil giant Saudi Aramco, announced the dividend payout this week, paying SAR1.7 per share. The dividend payout will take place on […] May 22, 2024 Posts navigation Previous 1 … 25 26 27 … 54 Next
Analysis Oil & Gas Early demand is strong for Aramco’s $13bn share sale The Saudi oil giant Aramco’s secondary share offering opens to retail investors today in a sale that could bring huge dividend payouts if they set aside concerns over flagging oil prices and regional political tensions. Institutional investors covered the offer within a few hours on Sunday, but reports say Aramco is planning events in Britain […] June 3, 2024
Artificial Intelligence China’s OpenAI rival backed by Saudi fund Saudi Aramco’s venture capital fund Prosperity7 has joined a $400 million investment round for Chinese generative AI startup Zhipu AI. Prosperity7 is a minority investor in Zhipu, which is valued at nearly $3 billion, the Financial Times reported on Friday. This marks the first instance of foreign investment in China’s quest to establish a homegrown […] May 31, 2024
Markets Aramco to raise up to $13bn from new share offering Saudi Aramco confirmed on Thursday that it aims to raise up to $13 billion in a secondary public offering next month, as Riyadh seeks out new sources of funding to finance its portfolio of giga-projects. The world’s largest oil producer will sell a 0.64 percent stake, or 1.545 billion shares, in an offering that will commence on […] May 31, 2024
Giga-projects Saudi review says 87% of Vision 2030 projects ‘on right track’ Saudi Arabia’s top economic body discussed the progress of the kingdom’s Vision 2030 plan this week, citing a recent government report that 87 percent of its projects are “on the right track”. The Council of Economic and Development Affairs, which is headed by Crown Prince Mohammed bin Salman, convened on May 28 in a meeting […] May 30, 2024
Analysis Markets Foreign traders’ Gulf stock sell-off good news for bargain hunters Foreign investors’ recent cutting of their holdings in Gulf stocks should prove fleeting, and the sell-off provides other traders with the chance to accumulate equities at lower prices, fund managers told AGBI. Non-Gulf investors were net sellers of $597 million of Gulf-listed stocks in April, a report by the Dubai-based consultancy company Iridium revealed. Of […] May 30, 2024
Energy Saudi Aramco’s $10bn share sale slated for next month Saudi Aramco’s anticipated share sale is expected to take place next month, according to a media report. The offering is projected to raise nearly $10 billion and will be listed on the local stock exchange, Reuters reported, citing unnamed informed sources. The sources said details may still change, but the process continues. In September 2023, […] May 26, 2024
Trade Saudi Arabia ‘close’ to US defence pact and arms deal Saudi Arabia could be close to a security pact with the United States that would enable the kingdom to buy arms, potentially including the sought-after F-35 fighter jet, and obtain some form of US defence guarantee, White House officials said this week. John Kirby, the president’s national security spokesperson, said on May 20 that the […] May 23, 2024
Artificial Intelligence UAE and France agree joint investments in AI France and the UAE are to increase their collaboration in artificial intelligence, including joint investments, as they seek to become leaders in the AI sector. The French economy minister, Bruno Le Maire, signed a strategic agreement with Khaldoon Al Mubarak, chief executive of the UAE investment fund Mubadala and a member of the Abu Dhabi […] May 22, 2024
Oil & Gas Adnoc buys 10% in LNG project in Mozambique Abu Dhabi National Oil Company (Adnoc) has acquired a 10 percent stake from Portugal’s Galp Energia in the Rovuma basin concession in Mozambique as part of its global growth strategy. The acquisition will allow the UAE energy major a share of the liquefied natural gas (LNG) production from the concession, which has a combined production capacity […] May 22, 2024
Energy Sabic to pay $1.4bn dividend despite profit drop Saudi Basic Industries Corporation (Sabic) has declared a cash dividend of more than SAR5 billion ($1.4 billion) for the first six months of 2024. The board of the company, which is wholly owned by oil giant Saudi Aramco, announced the dividend payout this week, paying SAR1.7 per share. The dividend payout will take place on […] May 22, 2024
