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#Saudi bourse sees biggest weekly loss in over a year | Reuters

Saudi bourse sees biggest weekly loss in over a year | Reuters Saudi Arabia's stock market gave up early gains to end lower on Thursday, registering its fourth weekly loss in five and its biggest since October 2020, while other Gulf bourses traded mixed.Losses on the Saudi index followed tensions with Yemen's Iran-aligned Houthis, who claimed responsibility on Nov. 20 for drone attacks in several parts of the kingdom, including at Saudi Aramco facilities in Jeddah. read moreOn Wednesday th...
Tags: Travel, Turkey, Iran, Egypt, United Arab Emirates, Dubai, Abu Dhabi, Yemen, Mohammed, Jeddah, Gulf, Ankara, Reuters, Saudi Aramco, Tayyip Erdogan, Sanaa


Reliance, Aramco Call off $15 Billion Deal Amid Valuation Differences, Sources Say

By Nidhi Verma and Saeed AzharNEW DELHI/DUBAI (Reuters) - Reliance Industries and Saudi Aramco have called off a deal for the state oil giant to...
Tags: Dubai, Saudi Aramco, Reuters Reliance Industries, Nidhi Verma, Reliance Aramco, Saeed AzharNEW


Major Gulf bourses rise in early trade | Reuters

Major Gulf bourses rise in early trade | ReutersMajor stock markets in the Gulf rose in early trade on Thursday, with the Saudi index on track to extend gains for a second session.Saudi Arabia's benchmark index (.TASI) advanced 0.7%, with Al Rajhi Bank (1120.SE) rising 1.6% and oil giant Saudi Aramco (2222.SE) up 0.6%.The index on Tuesday ended three sessions of declines triggered by tensions with Yemen's Iran-aligned Houthis, who claimed responsibility on Nov. 20 for drone attacks in several pa...
Tags: Travel, Saudi Arabia, Turkey, Iran, United Arab Emirates, Abu Dhabi, Yemen, Mohammed, Jeddah, Ankara, Reuters, Saudi Aramco, Tayyip Erdogan, Sanaa, Tasi, Rupert Neil Bumfrey


#Saudi bourse outperforms most Gulf markets | Reuters

Saudi bourse outperforms most Gulf markets | Reuters Saudi Arabia's stock market ended higher on Wednesday, buoyed by gains in financial shares, while the Dubai index snapped three sessions of losses.Saudi Arabia's benchmark index (.TASI) advanced 1%, extending gains from the previous day, boosted by a 2.9% rise in Al Rajhi Bank (1120.SE) and a 4.7% leap in SABIC Agri-Nutrients (2020.SE).On Tuesday, the index ended three sessions of declines triggered by tensions with Yemen's Iran-aligned ...
Tags: Travel, Saudi Arabia, Iran, Egypt, Dubai, Abu Dhabi, Yemen, Jeddah, Gulf, Reuters, Saudi Aramco, Adi, Sanaa, SABIC, Tasi, Rupert Neil Bumfrey


#Saudi index leads major Gulf bourses higher in early trade | Reuters

Major stock markets in the Gulf rose in early trading on Wednesday with the Saudi index leading the gains on the back of its financial shares.Saudi Arabia's benchmark index (.TASI) was up 0.9%, on track to extend gains from the previous session.On Tuesday, the index snapped three sessions of declines triggered by tensions with Yemen's Iran-aligned Houthis, who claimed responsibility for drone attacks in several parts of the kingdom, including at Saudi Aramco facilities in Jeddah. read moreAl Raj...
Tags: Travel, Saudi Arabia, Russia, Opec, Qatar, Iran, Abu Dhabi, Yemen, Jeddah, Gulf, Reuters, Saudi Aramco, Sanaa, Petroleum Exporting Countries OPEC, Tasi, Rupert Neil Bumfrey


Saudi stocks bounce back, major Gulf markets end mixed | Reuters

Saudi stocks bounce back, major Gulf markets end mixed | Reuters Saudi Arabian shares closed higher on Tuesday, snapping three straight sessions of losses, while major Gulf stock markets ended the day mixed.Saudi Arabia's benchmark index (.TARSI) closed about 0.8% higher after three days of declines triggered by regional tensions with Yemen's Iran-aligned Houthis, who claimed responsibility for drone attacks in several parts of the kingdom, including at Saudi Aramco facilities in Jeddah. r...
Tags: Travel, Saudi Arabia, Iran, Dubai, Abu Dhabi, Yemen, Jeddah, Gulf, Reuters, Saudi Aramco, Etisalat, Rupert Neil Bumfrey, Dubai Islamic Bank, Emaar Malls, Al Rajhi Bank, Reuters Saudi Arabian


#Saudi leads major Gulf bourses higher | Reuters

Most major stock markets in the Gulf rebounded in early trade on Tuesday, with the Saudi index on track to end three sessions of losses.Saudi Arabia's benchmark index (.TASI) gained 0.6%, helped by a 1.9% rise in Al Rajhi Bank (1120.SE) and a 1.5% increase in Alinma Bank (1150.SE).The kingdom's Tourism Development Fund said on Monday it had deployed 2 billion riyals ($533.13 million) on tourism projects worth a total of around 6 billion riyals from its establishment last year until the end of Se...
Tags: Travel, Saudi Arabia, Iran, Abu Dhabi, Yemen, Gulf, Reuters, Saudi Aramco, Sanaa, Tasi, Rupert Neil Bumfrey, Mubadala, Al Rajhi Bank, Khaldoon Khalifa al Mubarak, Dubai South, First Abu Dhabi Bank FAB


#Saudi bourse suffers biggest fall in over a year after drone attacks | Reuters

Saudi bourse suffers biggest fall in over a year after drone attacks | Reuters Saudi Arabia's stock market had its biggest intraday fall in over a year on Monday as it extended losses from the previous session following drone attacks.The Saudi-led coalition fighting the Houthi movement in Yemen said its air defences destroyed a drone targeting Najran airport in the south of Saudi Arabia, state media reported on Sunday. read moreYemen's Iranian-aligned Houthi movement said on Saturday it had f...
Tags: Travel, Europe, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Yemen, Jeddah, Gulf, Houthi, Reliance, Reuters, Aramco, Saudi Aramco, Reuters Saudi Arabia, Tasi


#Saudi bourse on course to extend losses after drone attacks | Reuters

Saudi bourse on course to extend losses after drone attacks | ReutersMost major stock markets in the Gulf fell in early trade on Monday, with the Saudi index leading the losses a day after its biggest one-day fall in over a year following drone attacks.Yemen's Iranian-aligned Houthi movement said on Saturday it had fired 14 drones at several Saudi Arabian cities, including at Saudi Aramco facilities in Jeddah. read moreSaudi Arabia's benchmark index (.TASI) dropped 1.3%, dragged down by a 1.4% f...
Tags: Travel, Europe, Japan, Dubai, Yemen, Jeddah, Houthi, Reliance, Reuters, Aramco, Saudi Aramco, Tasi, Rupert Neil Bumfrey, Al Rajhi Bank, First Abu Dhabi Bank, Emaar Properties EMAR DU


#Saudi stocks sees biggest fall in over a year after drone attacks | Reuters

Saudi stocks sees biggest fall in over a year after drone attacks | Reuters Saudi Arabia's stock market posted its biggest one-day drop in more than a year on Sunday, a day after Yemen's Iran-aligned Houthis said they had fired 14 drones at several Saudi Arabian cities, including at Saudi Aramco facilities in Jeddah. read moreThe Saudi-led coalition battling the Houthis in Yemen had on Friday said it destroyed three drones launched towards southern Saudi Arabia and a fourth over Yemen. It ...
Tags: Travel, Saudi Arabia, Iran, Egypt, United Arab Emirates, Dubai, Abu Dhabi, Yemen, Jeddah, Reliance, Reuters, Aramco, Saudi Aramco, Adi, Reuters Saudi Arabia, Houthis


#Saudi Stock Exchange Seeks to Raise Up to $1 Billion in IPO - Bloomberg

Saudi Stock Exchange Seeks to Raise Up to $1 Billion in IPO - Bloomberg Click here for link to IPO information Saudi Arabia is keeping the home fires burning for regional public offerings, readying what could be the biggest sale of shares by a stock-exchange operator since Euronext NV. Saudi Tadawul Group Holding is seeking to raise as much as $1 billion after setting the price range for an initial public offering at 95 riyals ($25.32) to 105 riyals per share, the company said in a s...
Tags: Travel, Saudi Arabia, Middle East, Dubai, Riyadh, Saudi Aramco, Tadawul, Saudi stock exchange, Rupert Neil Bumfrey, Acwa Power International, IPO Bloomberg, Saudi Telecom Co, Junaid Farooq, IPO Bloomberg Click, Euronext NV Saudi Tadawul Group Holding, Neighboring Abu Dhabi


#Saudi market tumbles in early trade after drone attacks | Reuters

Saudi market tumbles in early trade after drone attacks | ReutersSaudi Arabia's stock market fell sharply in early trade on Sunday, a day after Yemen's Iran-aligned Houthis said they had fired 14 drones at several Saudi Arabian cities, including at Saudi Aramco facilities in Jeddah. read moreSaudi Arabia's benchmark index (.TASI) dropped 1.6%, with Al Rajhi Bank (1120.SE) retreating 2.2% and Saudi Aramco (2222.SE) losing 1.6%.The oil giant was also under pressure after India's Reliance Industrie...
Tags: Travel, Qatar, Iran, Dubai, Abu Dhabi, Yemen, Jeddah, Reliance, Reuters, Aramco, Saudi Aramco, Houthis, Commercial Bank, Tasi, Rupert Neil Bumfrey, QSI


Reliance (RIL) Scraps Plan to Sell Oil-to-Chemicals Stake to Aramco - Bloomberg

Reliance (RIL) Scraps Plan to Sell Oil-to-Chemicals Stake to Aramco - BloombergReliance Industries Ltd. scrapped a plan announced more than two years ago to sell a 20% stake in its oil-to-chemicals unit to Saudi Arabian Oil Co. as the Indian company focuses on its renewable energy investments.“Due to evolving nature of Reliance’s business portfolio, Reliance and Saudi Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment in O2C busine...
Tags: Travel, India, Reliance, Aramco, Saudi Aramco, Saudi Arabian Oil Co, Mukesh Ambani, Rupert Neil Bumfrey, Ambani, Aramco Bloomberg, Aramco BloombergReliance Industries Ltd


Reliance, Aramco to re-evaluate stake sale in oil-to-chemicals arm | Reuters

Reliance, Aramco to re-evaluate stake sale in oil-to-chemicals arm | ReutersIndia's Reliance Industries Ltd (RELI.NS) said it has decided with Saudi Aramco (2222.SE) to re-evaluate the oil major's proposed investment in Reliance's oil-to-chemicals business.The companies had signed a non-binding letter of intent in August 2019, which would have seen Reliance sell 20% of the unit to Saudi Aramco to fetch roughly $15 billion.Reliance also said it would withdraw its application to separate the oil-t...
Tags: Travel, Reliance, Reuters, Saudi Aramco, Rupert Neil Bumfrey, Reliance Aramco, ReutersIndia s Reliance Industries Ltd RELI NS


BlackRock (BLK), Brookfield (BAM) Are Among Bidders for Aramco Gas Pipelines - Bloomberg

BlackRock (BLK), Brookfield (BAM) Are Among Bidders for Aramco Gas Pipelines - Bloomberg BlackRock Inc., Brookfield Asset Management Inc. and EIG are among investment firms that made final bids for a stake in Saudi Aramco’s natural-gas pipeline network that could fetch more than $15 billion, people familiar with the matter said. Italian energy infrastructure operator Snam SpA, China’s state-backed Silk Road Fund Co. and Saudi government-controlled Hassana Investment Co. also made offers for th...
Tags: Travel, Silk Road, Aramco, Saudi Aramco, Rupert Neil Bumfrey, SNAM, Representatives for Aramco, Silk Road Fund Co, Hassana Investment Co, BlackRock BLK Brookfield BAM, Aramco Gas Pipelines Bloomberg, Snam SpA China, BlackRock Brookfield EIG Hassana


Aramco Warns Oil Spare Capacity to Shrink as People Fly More - Bloomberg

Aramco Warns Oil Spare Capacity to Shrink as People Fly More - Bloomberg Spare capacity in the oil market will shrink significantly next year as travel rebounds and due to a lack of investment among producers, according to Saudi Aramco.Surplus capacity is the equivalent of 3 million to 4 million barrels a day and will drop as demand for jet fuel increases, Chief Executive Officer Amin Nasser said.“The buffer might diminish, especially next year,” he said Tuesday via video during the Nikkei Gl...
Tags: Travel, Bloomberg, Saudi Aramco, Rupert Neil Bumfrey, Amin Nasser, Aramco Warns Oil Spare Capacity


#Saudi Aramco to continue generating robust cash flows: Al Rajhi Capital | ZAWYA MENA Edition

Saudi Aramco to continue generating robust cash flows: Al Rajhi Capital | ZAWYA MENA Edition Riyadh-based investment bank Al Rajhi Capital has revised upward the target price on the stock of state oil producer Saudi Aramco from 35 riyals ($9.33) per share to 37 riyals per share. The target price has been increased following the third-quarter performance of the oil giant, whose stock closed at 37.60 riyals on Sunday. The premium is based on a 3.75 percent dividend yield on the 2021 dividend per...
Tags: Travel, Riyadh, Aramco, Saudi Aramco, Rupert Neil Bumfrey, Al Rajhi Capital


Mideast Stocks: #AbuDhabi index hits record peak; #Dubai falls | ZAWYA MENA Edition

Mideast Stocks: Abu Dhabi index hits record peak; Dubai falls | ZAWYA MENA Edition Most Gulf bourses ended higher on Sunday, with the Abu Dhabi index reaching record high, while Dubai stocks extended losses on profit taking.In Abu Dhabi, the index finished 1% higher, reaching a record high, buoyed by a 3.5% leap in conglomerate International Holding Cofollowing a sharp rise in its quarterly profit.Elsewhere, Dana Gas jumped 9.2%, rising for a fourth session in five. Earlier this month, the ene...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Saudi Aramco, Moody, Saudi Basic Industries Corp, Qatar National Bank, Dubai Financial Market, Rupert Neil Bumfrey, Commercial International Bank, Abudhabi, Capital Market Authority, Al Rajhi Bank, Gulf Egypt


#Saudi Wealth Fund Moves Step Closer to Direct China Stock Deals - Bloomberg

Saudi Wealth Fund Moves Step Closer to Direct China Stock Deals - Bloomberg Saudi Arabia’s sovereign wealth fund may be poised to start making major investments in Chinese companies, after so far mostly limiting its overseas holdings to the U.S. and Europe.The $450 billion Public Investment Fund has applied for a Qualified Foreign Institutional Investor license in China, according to information published on the website of the country’s top securities regulator. That will give it the ability t...
Tags: Travel, Europe, China, Russia, Beijing, Saudi Aramco, Rupert Neil Bumfrey, Public Investment Fund, Yasir al Rumayyan, Direct China Stock Deals Bloomberg, China Stock Deals Bloomberg Saudi Arabia


Higher Oil Prices Hit Aramco’s Refining and Chemicals Business - Bloomberg

Higher Oil Prices Hit Aramco’s Refining and Chemicals Business - Bloomberg The surge in oil prices has been good for Saudi Aramco’s upstream business, but it’s hurting the refining and chemicals unit.Aramco’s downstream arm -- which includes refineries, retail operations, trading and the energy giant’s chemicals subsidiary, Sabic -- made a $4 billion profit before interest and tax in the third quarter. That was up from a loss of almost $800 million a year earlier, but down 13% from the previou...
Tags: Travel, Saudi Arabia, Opec, Aramco, Saudi Aramco, SABIC, Rupert Neil Bumfrey, Higher Oil Prices Hit Aramco, Chemicals Business Bloomberg


Iraq plans billions of dollars of energy contracts with #SaudiArabia -media | Reuters

Iraq plans billions of dollars of energy contracts with Saudi Arabia -media | Reuters The Iraqi government plans to sign energy contracts worth tens of billions of dollars with Saudi Arabia, the state newspaper Al-Sabaah reported on Monday, citing Iraqi Oil Minister Ihsan Abdul Jabbar.Baghdad is discussing a partnership with Saudi Aramco to explore and develop natural gas fields in Iraq's western desert, it said.The Iraqi government is also in talks with Saudi Arabia's Acwa Power to build wate...
Tags: Travel, Saudi Arabia, Iraq, Reuters, Saudi Aramco, Rupert Neil Bumfrey, Al Sabaah, Ihsan Abdul Jabbar Baghdad


#Saudi Aramco's quarterly profit surges on oil price, volumes | Reuters

Saudi Aramco's quarterly profit surges on oil price, volumes | Reuters Saudi Arabian state oil producer Aramco (2222.SE) said on Sunday its third-quarter net profit more than doubled, boosted by higher crude oil prices and volumes sold, beating analysts' forecasts.The oil giant's best quarterly earnings since its listing in December 2019 was fuelled by the strongest quarterly average crude prices since its shares began trading.Aramco shares were up 1% in early trade after the company disclosed...
Tags: Travel, Reuters, Aramco, Saudi Aramco, Mohammed bin Salman, Rupert Neil Bumfrey


Saudi Aramco Sees Third-Quarter Income Rise to $30.4 Billion

The world’s largest oil company, Saudi Aramco, has reported $30.4 billion in third-quarter net income, bolstered by a surge in oil prices and recovery in demand as the coronavirus pandemic eases.
Tags: Saudi Aramco


Saudi Aramco's Quarterly Profit Surges on Oil Price, Volumes

By Hadeel Al Sayegh and Saeed AzharDUBAI (Reuters) -Saudi Arabian state oil producer Aramco said on Sunday its third-quarter net profit more than...
Tags: Aramco, Saudi Aramco, Saeed, Hadeel Al Sayegh


Saudi Aramco Q3 Profit Soars on Higher Prices, Volumes Sold

By Hadeel Al Sayegh and Saeed AzharDUBAI (Reuters) -Saudi Arabian state oil producer Aramco said on Sunday its third-quarter net profit more than...
Tags: Aramco, Saudi Aramco, Saeed, Hadeel Al Sayegh


EIG shortlisted as possible buyer for Aramco gas pipelines - sources | Reuters

EIG shortlisted as possible buyer for Aramco gas pipelines - sources | Reuters U.S.-based energy investor EIG has been shortlisted as a potential buyer of Saudi Aramco's gas pipelines, part of a sale that could exceed $17 billion and is likely to be completed later this year, three sources familiar with the matter said.Aramco (2222.SE) is looking to sell a significant minority stake in its gas pipelines, other sources have previously said.In addition to EIG, private equity firms such Apollo co...
Tags: Travel, Reuters, Aramco, Saudi Aramco, EIG, Rupert Neil Bumfrey, EIG Aramco


Mideast Stocks: Major Gulf bourses end mixed; Egypt outperforms | ZAWYA MENA Edition

Mideast Stocks: Major Gulf bourses end mixed; Egypt outperforms | ZAWYA MENA Edition Major stock markets in the Gulf ended mixed on Thursday, with the Saudi index extending losses, while the Egyptian bourse outperformed the region as investors await central bank's decision on interest rate.Market sentiment remains mixed as the earnings season continues to produce good results while concerns about inflation levels cloud expectations, said Wael Makarem, senior market strategist at Exness.Oil pri...
Tags: Travel, Saudi Arabia, China, Egypt, United Arab Emirates, Dubai, World Bank, Abu Dhabi, Gulf, Reuters, Saudi Aramco, Emaar Properties, Dubai Financial Market, Rupert Neil Bumfrey, Europe Russia, First Abu Dhabi Bank


Citigroup plans more investment in #SaudiArabia, eyes banking license | Reuters

Citigroup plans more investment in Saudi Arabia, eyes banking license | Reuters Citigroup (C.N) wants to pursue a banking license in Saudi Arabia to further boost its business in the kingdom by expanding into trade finance and treasury solutions, a senior executive said.Citi was awarded a Saudi capital markets licence in 2017, allowing it to return to the kingdom in 2018 after a 13-year absence.It advised Saudi Aramco on its $29.4 billion listing in 2019, in what was the world's biggest initia...
Tags: Travel, Saudi Arabia, Citigroup, Citi, Reuters, Saudi Aramco, EMEA, Rupert Neil Bumfrey, Saudiarabia, Reuters Citigroup, Ebru Pakcan Citi


#Saudi petrochemicals producer SABIC posts fivefold profit jump | Reuters

Saudi petrochemicals producer SABIC posts fivefold profit jump | Reuters Petrochemicals giant Saudi Basic Industries Corp (SABIC) (2010.SE) on Thursday reported a fivefold increase in third-quarter profit helped by higher average selling prices.SABIC reported a post-tax profit of 5.6 billion riyals ($1.5 billion), up from 1.1 billion riyals a year earlier but missing a 6.1 billion riyal consensus from estimates by four analysts compiled by Refinitiv.Revenue increased 49% to 43.7 billion riyals...
Tags: Travel, Reuters, Saudi Aramco, SABIC, Saudi Basic Industries Corp, Rupert Neil Bumfrey, COVID, Reuters Petrochemicals, Yousef Abdullah Al Benyan


Mideast Stocks: Major Gulf bourses in red; Aramco hit $2trln valuation | ZAWYA MENA Edition

Mideast Stocks: Major Gulf bourses in red; Aramco hit $2trln valuation | ZAWYA MENA Edition Major Gulf bourses ended lower on Wednesday as oil prices retreated following a more-than-expected rise in stockpiles, while the Egyptian bourse extended gains.Saudi Arabia's benchmark index fell 0.3%, with petrochemical maker Saudi Basic Industries Corp2010.SE and Al Rajhi Bank losing 1.2% and 0.3%, respectively.The market was in the red amid decreasing oil prices and as investors continue to take thei...
Tags: Travel, Saudi Arabia, United Arab Emirates, Dubai, Abu Dhabi, Ooredoo, Reuters, Aramco, Saudi Aramco, Aramex, Commercial Bank, OCI, Rupert Neil Bumfrey, Saudi Basic Industries, Dubai Islamic Bank, Commercial International Bank