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Aramco $75 Billion Payout No Problem as Oil Recovers, BofA Says - Bloomberg

Aramco $75 Billion Payout No Problem as Oil Recovers, BofA Says - Bloomberg The rally in oil prices has all but expunged any likelihood that Saudi Aramco will fail to meet its $75 billion dividend payout next year, according to Bank of America Corp.Far from missing the payment, the company may even boost it in 2022 as it increases production and benchmark crude prices head back toward $70 a barrel, the bank said.Aramco’s pledge to pay an annual $75 billion to shareholders during its first five y...
Tags: Travel, Saudi Arabia, Bank Of America, Bloomberg, Moscow, Houston, Aramco, Saudi Aramco, Bank of America Corp, Rupert Neil Bumfrey, Karen Kostanian, Doug Leggate


Mideast Stocks: #Saudi leads gains as oil buoys markets | ZAWYA MENA Edition

The Saudi Arabian stock market rose in early Sunday trade after Friday's jump in oil prices.Oil prices gained about 3% in the previous session, hitting their highest in more than a year after a stronger than expected U.S. jobs report and a decision by oil producer group OPEC and its allies not to increase supply in April.Saudi's benchmark index was up 1.3%, aided by a 1% rise for Al Rajhi Bank and a 2.3% gain for Saudi Basic Industries (Sabic).Oil major Saudi Aramco advanced 1.9% after Bank of ...
Tags: Travel, Bank Of America, Opec, Dubai, Abu Dhabi, Aramco, Saudi Aramco, Emirates NBD, Mideast, Rupert Neil Bumfrey, Al Rajhi Bank, First Abu Dhabi Bank, Saudi Basic Industries SABIC Oil, Fitaihi Holding Group


Middle East Stocks: #Saudi Stocks Lead Gulf Gains on Surging Oil Bets - Bloomberg

Middle East Stocks: Saudi Stocks Lead Gulf Gains on Surging Oil Bets - Bloomberg Saudi stocks climb the most in the Gulf, tracking a surge in oil prices after OPEC+ shocked the markets with a decision to keep supply in check. Aramco advanced the most in five months.The Tadawul All Share Index rose as much as 1.4%, extending gains this year to 7.9%. Saudi Basic Industries, Saudi Aramco and Al Rajhi Bank contributed the most to the advance. Benchmarks in Abu Dhabi, Kuwait and Oman also rose, whil...
Tags: Travel, London, Saudi Arabia, Opec, Qatar, Bloomberg, United Arab Emirates, Dubai, Oman, Bahrain, Gulf, Riyadh, Aramco, Saudi Aramco, Goldman Sachs Group Inc, Bank of America Corp


#Saudi Wealth Fund PIF May Close Its Biggest-Ever Loan Deal This Week - Bloomberg

Saudi Wealth Fund PIF May Close Its Biggest-Ever Loan Deal This Week - Bloomberg Saudi Arabia’s sovereign wealth fund is set to close a deal for its biggest loan ever as soon as this week, according to people familiar with the matter.The Public Investment Fund is raising about $15 billion from a group of international banks to finance new investments, the people said, asking not to be identified as the information is private. The final bank group participating in the facility is still being dete...
Tags: Travel, Bloomberg, Pif, Saudi Aramco, Rupert Neil Bumfrey, Public Investment Fund, Bloomberg Saudi Arabia, Week Bloomberg


Major Gulf markets gain; ex-dividend stocks drag down #Qatar | Reuters

Major Gulf markets gain; ex-dividend stocks drag down Qatar | Reuters Most Gulf stockmarkets ended higher on Tuesday, led by gains in financial and property stocks, but the Qatari index was pressured by a slew of blue-chips trading ex-dividend.Saudi Arabia’s benchmark index climbed 1.2%, outperforming the region, boosted by a 2.5% rise in Al Rajhi Bank and a 3.3% jump in National Commercial Bank, the kingdom’s largest lender.However, oil behemoth Saudi Aramco eased 0.1%.In Qatar, the benchmark s...
Tags: Travel, Saudi Arabia, Opec, Qatar, Dubai, Reuters, Saudi Aramco, Emaar Properties, Rupert Neil Bumfrey, Industries Qatar, Dubai Islamic Bank, National Commercial Bank, Al Rajhi Bank, Masraf Al Rayan, First Abu Dhabi Bank, Major Gulf


#Saudi Shares Drop as U.S. Pins Khashoggi Murder on Crown Prince - Bloomberg

Saudi stocks fell the most in a month, tracking last week’s declines across emerging markets, as traders weighed the impact of a U.S. intelligence report saying Crown Prince Mohammed bin Salman signed off on the killing of Washington Post columnist Jamal Khashoggi.The Tadawul All Share Index retreated as much 1%, its sharpest decline since Jan. 31. It was 0.6% lower as of 10:43 a.m. in Riyadh. Rajhi Bank, Saudi Basic Industries, Saudi Telecom Co. and Saudi Aramco dragged the index down the most ...
Tags: Travel, London, Washington Post, Saudi Arabia, Joe Biden, Istanbul, Riyadh, Saudi Aramco, Mohammed bin Salman, Bloomberg TV, Middle East North Africa, Rupert Neil Bumfrey, Jefferies International, Khashoggi, Jamal Khashoggi, Crown Prince Bloomberg


Apollo, GIP Said to Bid for $10 Billion Aramco Pipeline Stake - Bloomberg

Apollo, GIP Said to Bid for $10 Billion Aramco Pipeline Stake - Bloomberg Apollo Global Management Inc. and Global Infrastructure Partners are among suitors that bid for a roughly $10 billion stake in Saudi Aramco’s oil pipelines, people familiar with the matter said.Canada’s Brookfield Asset Management Inc., BlackRock Inc., sovereign wealth fund China Investment Corp. and Beijing-backed Silk Road Fund Co. have also made non-binding offers, the people said, asking not to be identified as the mat...
Tags: Travel, Saudi Arabia, Opec, Beijing, Canada, Abu Dhabi, Aramco, Saudi Aramco, China Investment Corp, Rupert Neil Bumfrey, Global Infrastructure Partners, Silk Road Fund Co, Billion Aramco Pipeline Stake Bloomberg, Brookfield Asset Management Inc BlackRock Inc


Most Gulf markets fall as virus resurgence weighs | Reuters

Most Gulf markets fall as virus resurgence weighs | Reuters Most major Gulf stock markets fell in early trade on Monday, with the Dubai index leading the losses, as a second wave of coronavirus infections jolted the tourism boom and dented investor appetite.Dubai, one of the few destinations open to international travellers since July, has yet to impose tough restrictions despite record daily infections in the UAE. Investors are hopeful that the rollout of COVID-19 vaccines will cushion the impa...
Tags: Travel, Saudi Arabia, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, Reuters, Saudi Aramco, Emirates NBD, Aramex, Qatar Islamic Bank, Etihad Etisalat, Rupert Neil Bumfrey, National Commercial Bank, First Abu Dhabi Bank


#Dubai bucks Gulf trend with blue-chip sell-off | Reuters

Dubai bucks Gulf trend with blue-chip sell-off | Reuters Most stock markets in the Middle East ended higher on Tuesday, though the Dubai index was dragged into negative territory by Dubai Islamic Bank (DIB).DIB, the United Arab Emirates’ largest sharia-compliant lender, slid 2.6% after reporting a sharp decline in full-year profit while blue-chip developer Emaar Properties retreated 1.6%, weighing on a Dubai index down 1.2%.Investor sentiment was also soured by Saudi Arabia’s plans to cease sign...
Tags: Travel, Saudi Arabia, Credit Suisse, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Saudi Aramco, Saudi Arabia Saudi Arabia, Emaar Properties, Commercial Bank, Rupert Neil Bumfrey, First Abu Dhabi Bank


#Saudi IPO market set for bumper year boosted by lockdown savings | Reuters

Saudi IPO market set for bumper year boosted by lockdown savings | Reuters Saudi Arabia’s stock market is set for another bumper year of stock market listings with several sizeable initial public offerings (IPO) in the pipeline as investors look to allocate a pile of cash built up through the coronavirus pandemic.After the then record $29.4 billion listing of oil giant Saudi Aramco shone a spotlight on the country’s equity market in late 2019, the kingdom generated IPO proceeds worth $1.45 billi...
Tags: Travel, Ipo, Reuters, Riyadh, Saudi Aramco, Reuters Saudi Arabia, Rupert Neil Bumfrey, Al Rajhi Capital, Mazen Al Sudairi


#Saudi Aramco prepares $10 billion loan for pipeline business buyers: sources | Reuters

Saudi Aramco prepares $10 billion loan for pipeline business buyers: sources | Reuters Saudi Aramco is preparing a financing package of up to $10 billion that it could offer to buyers of its pipeline business unit, three sources said, as the oil giant seeks to extract value from its assets in an era of lower oil prices.Aramco is in talks with banks to provide “staple financing”, which is a financing package provided by the seller that buyers can use to back their purchase.International investors...
Tags: Travel, Brookfield, KKR, Blackrock, Reuters, Aramco, Saudi Aramco, Brookfield Asset Management, BlackRock KKR, Rupert Neil Bumfrey, Reuters Saudi Aramco


Most Gulf stocks gain on global rally, higher oil prices | Reuters

Most Gulf stocks gain on global rally, higher oil prices | Reuters Most Gulf stock markets rose in early trade on Sunday, tracking a rally in global equity markets and a jump in oil prices on Friday, while the Dubai index bucked the trend to trade lower.On Friday, global equities rallied on investor expectations of further stimulus from Washington and economic revival hopes that also lifted crude oil prices to nearly $60 a barrel.Brent crude ended Friday’s session up 50 cents, or 0.9%, at $59.34...
Tags: Travel, Washington, Saudi Arabia, Dubai, Abu Dhabi, Gulf, Reuters, Saudi Aramco, Emaar Properties, Rupert Neil Bumfrey, Industries Qatar, Dubai Investments, Al Rajhi Bank, Qatar National Bank the Gulf, Reuters Most Gulf


Major Gulf markets climb, track Asian shares | Reuters

Major Gulf markets climb, track Asian shares | Reuters Major stock markets in the Gulf rose early on Tuesday, with Dubai leading the gains, in line with Asian shares as optimism increased about economic stimulus and global recovery.Saudi Arabia’s benchmark index rose 0.5%, with National Commercial Bank, the kingdom’s largest lender, advancing 2% and oil giant Saudi Aramco adding 0.6%.Oil prices, a key catalyst for the Gulf region’s financial markets, rose around 1%, after major crude producers s...
Tags: Travel, Asia, Europe, Saudi Arabia, Qatar, Joe Biden, United States, Standard Chartered, Dubai, Gulf, Reuters, Saudi Aramco, Reuters Major, Emaar Properties, Doha Bank, Rupert Neil Bumfrey


#Saudi Chemical Giant Sabic Sees Vaccinations Boosting Income - Bloomberg

Saudi Chemical Giant Sabic Sees Vaccinations Boosting Income - Bloomberg Chemicals maker Saudi Basic Industries Corp. expects sales and earnings to increase this year after it beat analysts’ estimates by making a profit in 2020.The Riyadh-based firm, controlled by Saudi Aramco, said it sees the global rollout of coronavirus vaccines leading to a 2% to 5% gain in revenue this year. Pretax income will be “moderately higher” than in 2020, while capital expenditure will be similar, Sabic said in a r...
Tags: Travel, Bloomberg, Riyadh, Saudi Aramco, SABIC, Saudi Basic Industries Corp, Rupert Neil Bumfrey, Yousef al Benyan, Bloomberg Chemicals


Another IPO Record Beckons for #Saudi Stock Exchange This Year - Bloomberg

Another IPO Record Beckons for Saudi Stock Exchange This Year - Bloomberg The Saudi stock exchange expects to host more initial public offerings than ever in 2021, seizing on strong demand from local investors that supported several deals last year.After 22 issuances across different platforms in 2020, “I think we will break that record this year,” Khalid Abdullah Al-Hussan, the chief executive officer of the Tadawul exchange, said in an interview on the sidelines of the Future Investment Initia...
Tags: Travel, Germany, Bloomberg, Riyadh, Saudi Aramco, Tadawul, Rupert Neil Bumfrey, Khalid Abdullah Al Hussan, Al Hussan, Nomu


UPDATE 1- #Saudi bourse could go public within two years, says CEO | Reuters

UPDATE 1-Saudi bourse could go public within two years, says CEO | Reuters Saudi Arabia’s bourse, Tadawul, will announce plans to go public this year, its chief executive said on Thursday.A timeline for an initial public offering (IPO) will be provided this year, Tadawul CEO Khalid Alhussan told Reuters on the sidelines of the Future Investment Initiative conference, adding that the listing could take place within a two-year time frame.Tadawul hired HSBC in 2016 to manage an IPO initially planne...
Tags: Travel, Hsbc, Reuters, Saudi Aramco, Tadawul, Mohammed bin Salman, Reuters Saudi Arabia, Rupert Neil Bumfrey, Khalid Alhussan, Alhussan


Aramco will launch further share sales - #Saudi crown prince | Reuters

Aramco will launch further share sales -Saudi crown prince | Reuters Saudi Arabia’s Crown Prince Mohammed bin Salman, the kingdom’s de facto ruler, on Thursday said that oil giant Saudi Aramco will hold further share sales.He was speaking at the kingdom’s Future Investment Initiative conference.Aramco, the world’s biggest oil company completed the world’s largest initial public offering in late 2019. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Reuters, Aramco, Saudi Aramco, Mohammed bin Salman, Reuters Saudi Arabia, Rupert Neil Bumfrey


#Saudi Aramco may sell more shares if market is right - PIF | Reuters

Saudi Aramco may sell more shares if market is right - PIF | Reuters Saudi Aramco may consider selling more shares if market conditions are right, the head of Saudi Arabia’s sovereign wealth fund told a news briefing on Tuesday.The Saudi government sold more than 1.7% of Aramco in a 2019 initial public offering that raised a record $29.4 billion, triggering more IPOs in the kingdom, which is also seeking to deepen its capital markets to reduce its reliance on oil.Yasir al-Rumayyan, who is govern...
Tags: Travel, Uber, Saudi Arabia, Pif, Reuters, Aramco, Saudi Aramco, Mohammed bin Salman, Rupert Neil Bumfrey, Reuters Saudi Aramco, Public Investment Fund PIF, Yasir al Rumayyan


#Saudi Wealth Fund in Talks with Lucid for Car Factory, FT Says - Bloomberg

Saudi Wealth Fund in Talks with Lucid for Car Factory, FT Says - Bloomberg Lucid Motors Inc. is in talks with Saudi Arabia’s sovereign wealth fund to build an electric vehicle factory in the kingdom, the Financial Times reported, citing an interview with the fund’s governor, Yasir Al-Rumayyan.Bloomberg reported earlier this month that Lucid is in talks with the kingdom’s Public Investment Fund to build a factory potentially near the Red Sea city of Jeddah. The company raised more than $1 billion...
Tags: Travel, Saudi Arabia, Softbank, Bloomberg, Financial Times, Pif, Lucid, Jeddah, Saudi Aramco, Red Sea, Rupert Neil Bumfrey, Public Investment Fund, Al Rumayyan, Bloomberg Lucid Motors Inc, Yasir Al Rumayyan Bloomberg


#Saudi Aramco said to eye $10bn from pipeline stake sale - Arabianbusiness

Saudi Aramco said to eye $10bn from pipeline stake sale - Arabianbusiness Brookfield Asset Management and KKR & Co are among top infrastructure investors weighing bids for a stake in Saudi Aramco’s oil pipelines, people familiar with the matter said.Apollo Global Management and China’s state-backed Silk Road Fund Co have also been studying whether to make offers, the people said, asking not to be identified as the matter is private.The stake sale could fetch Aramco around $10 billion, the people...
Tags: Travel, China, Aramco, Saudi Aramco, KKR Co, Apollo Global Management, China Investment Corp, Rupert Neil Bumfrey, Arabianbusiness Brookfield Asset Management, Silk Road Fund Co


Aramco to do 'heavy lifting' in #Saudi fiscal adjustment - BofA | Reuters

Aramco to do 'heavy lifting' in Saudi fiscal adjustment - BofA | Reuters Saudi oil giant Aramco will likely need to transfer significant amounts of money to the Saudi government and the sovereign fund, Public Investment Fund (PIF), as Saudi Arabia puts its finances in order after the coronavirus slump, Bank of America said.Aramco - which listed in 2019 in a record $29.4 billion share sale - is likely to “do the heavy lifting” to boost state coffers and support mega-projects spearheaded by the PI...
Tags: Travel, Saudi Arabia, Bank Of America, Reuters, Aramco, Saudi Aramco, Mohammed bin Salman, BofA, Rupert Neil Bumfrey, PIF BofA


Lender FAB buoys #AbuDhabi as most major Gulf markets rise | Reuters

Lender FAB buoys Abu Dhabi as most major Gulf markets rise | Reuters Most major stock markets in the Gulf traded higher early on Monday, with the Abu Dhabi index leading the gains boosted by its top lender First Abu Dhabi Bank. The Abu Dhabi index advanced 2.3%, with First Abu Dhabi Bank, the United Arab Emirates’ largest lender, jumping 5.3%, its biggest intraday gain since April last year.The Abu Dhabi Department of Finance has announced a 6 billion dirhams ($1.63 billion) supply chain financi...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, Saudi Aramco, Emaar Properties, Rupert Neil Bumfrey, Abudhabi, Saudi Electricity, First Abu Dhabi Bank, Abu Dhabi Department of Finance, First Abu Dhabi Bank the United Arab Emirates, First Abu Dhabi Bank The Abu Dhabi


#Saudi Aramco Seeks $7.5 Billion Loan for Pipeline Investors - Bloomberg

Saudi Aramco Seeks $7.5 Billion Loan for Pipeline Investors - Bloomberg Saudi Aramco is lining up a loan of about $7.5 billion for potential investors in its oil pipelines, according to people familiar with the matter.The world’s biggest oil producer has begun talks with lenders to secure favorable terms for the funding package that would then be offered to investors, the people said, asking not to be identified as the information is private. The discussions are occurring in parallel with the sa...
Tags: Travel, Aramco, Saudi Aramco, JPMorgan Chase Co, Moelis Co, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Bloomberg Saudi Aramco, Pipeline Investors Bloomberg


M&A deals involving MENA hit $70.3bln - Refinitiv | ZAWYA MENA Edition

M&A deals involving MENA hit $70.3bln - Refinitiv | ZAWYA MENA Edition The value of announced M&A transactions with any MENA involvement reached $70.3 billion during 2020, according to global data provider Refinitiv.This makes 2020 the fourth highest annual total of all time, despite falling 47 percent in value from the record high achieved in 2019 with Saudi Aramco’s agreement to buy a stake in Saudi Basic Industries Corporation (SABIC)Aramco acquired 70 percent stake in SABIC from the Public I...


Gulf markets ends lower as Georgia races take centrestage | Reuters

Gulf markets ends lower as Georgia races take centrestage | Reuters Gulf markets fell on Wednesday, tracking global peers, as investors brace for a possible Democrat win in the U.S. Senate run-off election in Georgia that could help President-elect Joe Biden push for greater corporate regulation and higher taxes.The prospects of a victory for Democrats in both races in Georgia, handing them control of the chamber, along with their narrow majority in the House of Representatives jointly could ush...
Tags: Travel, Saudi Arabia, Senate, Georgia, Opec, Qatar, Joe Biden, Standard Chartered, Dubai, Abu Dhabi, Gulf, Reuters, Saudi Aramco, U S Senate, Emirates NBD, Etisalat


#Saudi gets a partial brand detox with #Qatar thaw – Breakingviews

Saudi gets a partial brand detox with Qatar thaw – Breakingviews Mohammed bin Salman has done himself a favour. Nearly four years after Saudi Arabia’s crown prince led the United Arab Emirates, Bahrain and Egypt to blockade Qatar, the two sides have buried the hatchet. It pushes the kingdom towards a timely brand detox.The quartet’s June 2017 gambit was certainly aggressive. Emboldened by U.S. President Donald Trump’s support, MbS and friends cut Qatar’s air and trade routes. Doha’s imports prom...
Tags: Travel, Saudi Arabia, Russia, Qatar, Turkey, Iran, Egypt, Dubai, Oman, International Monetary Fund, Biden, Yemen, Donald Trump, Muslim Brotherhood, Doha, Trump


Mideast Stocks: #UAE stocks gain, #Saudi slips on first trading day of 2021 | ZAWYA MENA Edition

Mideast Stocks: UAE stocks gain, Saudi slips on first trading day of 2021 | ZAWYA MENA Edition Stock markets in the United Arab Emirates (UAE) closed higher on Sunday, starting 2021 on a positive note on hopes that the rollout of a coronavirus vaccine will lift economic activity, while Saudi Arabian shares fell on uncertainty about the outlook for oil prices this year.The UAE on Saturday recorded a fourth straight record number of daily coronavirus cases, with 1,963 new infections. Dubai and Abu...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Chemical, Bahrain, Doha, Uae, Reuters, Saudi Aramco, Emirates NBD, Mideast, United Arab Emirates UAE, Gulf Cooperation Council GCC


#Saudi outperforms Middle East markets in 2020 | Reuters

Saudi outperforms Middle East markets in 2020 | Reuters Saudi Arabian shares ended 2020 higher, outperforming other Middle East markets in a pandemic-ravaged year on the back of a recovery in oil prices and strong inflows, while Egyptian equities declined the most in the region.Middle East stocks had fallen between 13% and 36% in the first quarter as the spread of COVID-19 and an oil price war between top producers Saudi Arabia and Russia raised fears of a global recession.However, the markets t...
Tags: Travel, Saudi Arabia, Russia, Middle East, Dubai, Abu Dhabi, Bahrain, Kuwait, Reuters, Saudi Aramco, Ansari, Mathew, Tasi, GCC Gulf Cooperation Council, Rupert Neil Bumfrey, Reuters Saudi Arabian


How #Saudi Aramco IPO proved a game changer in a tumultuous year for oil

How Saudi Aramco IPO proved a game changer in a tumultuous year for oil In a masterpiece of understatement, Amin Nasser summed up 2020 at a recent awards ceremony. “This year has been challenging,” the president and chief executive of Saudi Aramco told journalists.Prospects looked very different just over a year ago, when Aramco made its debut on the Tadawul stock exchange in Riyadh in the world’s biggest initial public offering (IPO), becoming the world’s most valuable company in the process.Ha...
Tags: Travel, Ipo, Riyadh, Aramco, Saudi Aramco, Tadawul, Nasser, Rupert Neil Bumfrey, Amin Nasser


Oil News: Saudis Raise Crude Pricing to Asia as Vaccines Buoy Oil Market - Bloomberg

Oil News: Saudis Raise Crude Pricing to Asia as Vaccines Buoy Oil Market - Bloomberg Saudi Arabia raised oil pricing for customers in its main market of Asia after optimism over coronavirus vaccines caused crude prices to rise to an eight-month high last week.The increase, the biggest in five months, indicates the world’s largest oil exporter is confident global energy demand is strong enough to absorb a small boost in output from OPEC+ members next month and that markets will remain tight even ...
Tags: Travel, Asia, Europe, Opec, Bloomberg, Aramco, Saudi Aramco, Rupert Neil Bumfrey, Vaccines Buoy Oil Market Bloomberg, Vaccines Buoy Oil Market Bloomberg Saudi Arabia



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