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Saudi Aramco

Saudi Aramco News

People speak in the lobby of the Dubai Financial Market. Strict IPO rules mean loss-making startups cannot go public

Tough IPO rules deter UAE tech startups from listing

The UAE’s burgeoning startup sector has helped it become a centre for tech innovation, yet almost none of these fledgling companies have gone public due to stock market regulations. Since 2021 the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) have welcomed a flurry of initial public offerings as part-privatised government-related companies diversify […]

An Aramco worker cycles around the Hawiyah gas plant. The state oil major is planning to expand the facility

Experts wonder if Saudi Arabia has enough gas to go around

Saudi Arabia is investing hundreds of billions of dollars in natural gas, but analysts are divided about the chances of the world’s largest oil exporter becoming a gas-exporting powerhouse too. The kingdom’s biggest gas play is the Jafurah basin, located in the Tuwaiq mountains about 185 miles from Dammam and southeast of the massive Ghawar […]

Aramco CEO Amin Nasser said the state oil company will announce its new strategy soon, as it diverts spending away from increasing production

Aramco will move oil spending to gas, chemicals and liquids

The capital expenditure originally allocated for increasing production capacity at state oil company Saudi Aramco will instead be used to expand into the gas, liquids and chemicals sectors, Saudi officials said this week. Aramco is adapting as the world moves towards low-carbon energy. It will announce its new strategy soon, CEO Amin Nasser told the […]

HSBC is among the global banks that are reported to be in talks for the upcoming Saudi Aramco share sale.

Saudi Arabia taps banks for new Aramco share sale

Saudi Arabia is set to hire banks including Citigroup, Goldman Sachs Group and HSBC Holdings for a potential secondary share sale in state oil company Aramco that could raise nearly $20 billion – up from earlier estimates of $10 billion. Bloomberg and Reuters reported that the kingdom is in talks with several banks as it […]

Taking off: Emirates NBD ranked above all other businesses that have declared their 2023 dividends

Emirates NBD tops Gulf dividend yield rankings 

Emirates NBD, Dubai’s largest bank, has so far topped the Gulf list of dividend yield pay-outs awarded to shareholders in 2023, Refinitiv data shows. The government-controlled lender, whose shares are up 27 percent in the past 12 months, provides a dividend yield of 6.9 percent based on its closing stock price of February 8. The […]

Saudi minister of defense Prince Khalid bin Salman bin Abdulaziz at the presentation of the Hawk T-165 jet, assembled and partly manufactured in Saudi Arabia

Saudi Arabia shows off local arms industry gains

Saudi Arabia showed off locally manufactured military equipment at a major defence show in Riyadh this week as it tries to offset its massive foreign arms spending through its own arms production.  Government officials at the World Defense Show said the country has managed to increase domestic military spending to 14 percent of the total […]