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  • Crown Prince Mohammed bin Salman Meets with U.N. Secretary General in New York
     

    Crown Prince Mohammed bin Salman continued his active visit to the United States yesterday, attending a business meeting in New York with over 200 executives, and separately meeting with the Secretary General of the United Nations, Antonio Guterres. 200 top business leaders from the U.S. and Saudi Arabia – including two dozen women – assembled in […]

     
  • Crown Prince Mohammed bin Salman visits Harvard, MIT in Boston
     

    Crown Prince Mohammed bin Salman visited Harvard University and MIT in Boston, Massachusetts over the weekend to tour two of America’s premiere higher education campuses and talk about the importance of research and entrepreneurship to Vision 2030. The visit to Boston is the second stop in a weeks long tour across the United States, his first […]

     
  • Crown Prince Mohammed bin Salman Kicks Off Two Week U.S. Visit Today with Meeting at White House
     

    Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Washington, D.C. last night and will kick off a two week, multi-city U.S. tour with a meeting today at the White House. The Saudi embassy in Washington, D.C. issued a release providing further details on the trip, noting that in addition to meeting with President Trump […]

     
  • Saudi Aramco IPO Delayed Until 2019, Financial Times Reports for Second Time
     

    Saudi Aramco’s long-awaited IPO “could be delayed until 2019 at the earliest,” the Financial Times reported on Sunday, citing British officials briefed on the matter. It is the second time the London-based newspaper was the first to report that the IPO would be delayed. The Financial Times reported the same news in September, but Saudi officials […]

     
  • Saudi Officials, Current and Former, Downplay Oil Demand Concerns
     

    Saudi officials downplayed the risk of waning demand for oil as electric vehicles become more mainstream, according to comments made by Saudi Aramco’s CEO Amin Nasser and by former Minister of Petroleum Ali Al Naimi. According to comments at the CERAWeek by IHS Markit conference on Tuesday reported by Bloomberg, Nasser said he is “not […]

     
  • Russian, Chinese Interests ‘Eager’ to Invest in Saudi Aramco IPO as Cooperation Heats Up
     

    The head of the Russian Direct Investment Fund (RDIF) said in Riyadh today there is “significant interest” to invest in the forthcoming Aramco IPO from Russia and from China, according to reports. Several banks and other groups in Russia are interested in investing in shares of Aramco, according to Bloomberg, which reported comments from Kirill Dmitriev, chief […]

     
  • Saudi Crown Prince Mohammed bin Salman will Visit Washington, Other U.S. Cities in Early March
     

    The Royal Embassy of Saudi Arabia in Washington is working to organize a visit by crown prince Mohammed bin Salman to the United States in early March, the first trip to the U.S. since he became crown prince last year, according to reports. Rumors of a forthcoming visit by the powerful crown prince have surfaced in […]

     
  • Saudi Aramco CEO Says Company Eying U.S. Expansion
     

    Saudi Aramco’s CEO Amin Nasser said the company was eying expansion in the United States “where President Donald Trump’s tax cuts and support for the oil industry are making business increasingly attractive,” Reuters reports. Nasser also lauded the Trump administration as being friendly toward the oil industry. “The Trump administration has been positive towards the energy […]

     
  • At Davos, Saudi Leaders Discuss Energy, Foreign Policy on World Stage
     

    Saudi government leaders arrived to Davos, Switzerland for the annual World Economic Forum to meet with other world leaders and discuss key foreign policy and energy challenges facing the Kingdom. The 48th Annual Meeting in Davos will host 3,000 participants across all stakeholder groups including public & private sectors, civil society, academia, media, and arts & culture. The Saudi delegation is led […]

     
  • Bloomberg News, MiSK Launch Course in Dubai to Train Aspiring Saudi Journalists
     

    Bloomberg news and Saudi Arabia’s MiSK Foundation have teamed up to launch a course on financial reporting to train aspiring Saudi journalists, according to a report in Arab News. The intensive week-long course is taught at the Bloomberg Middle East headquarters in Dubai. 30 Saudi undergraduates, including 22 women and eight men, were chosen by MiSK […]

     

MUST-READS

  • Aramco In Talks With Sinopec and Total on $10 Billion Saudi Gas Deal

    The Chinese and French energy giants are in separate discussions with Saudi Aramco about the plans that may include the construction of facilities to export the fuel as liquefied natural gas, some of the people said, asking not to be identified because the matter is private. Aramco is seeking to raise a total of around $10 billion for the projects, the people said.

  • China’s Baosteel, Saudi Aramco and PIF set up JV to build steel plant in Saudi Aramco

    China's biggest listed steelmaker, Baoshan Iron and Steel Co (600019.SS), said on Monday it has signed agreements with Saudi Aramco (2222.SE) and Public Investment Fund (PIF) to build a steel plate manufacturing joint venture. Baosteel will take 50% stake in the joint venture, while Saudi Aramco and PIF will take 25% stake each, Baosteel said in a statement. The joint venture will build a steelmaking manufacturing base in Saudi Arabia, with the designed annual capacity of 2.5 million tonnes of direct reduced iron and 1.5 million tonnes of steel plate, it said, adding that the project remains subject to regulatory approval.

  • Saudi Arabia’s March Net Foreign Reserves Fall Despite Aramco Dividend

    Saudi Arabia’s net foreign assets fell to 1.572 trillion riyals ($419 billion) in March, even as oil giant Aramco increased its dividend the same month. Foreign reserves fell from 1.625 trillion riyals the previous month, according to the central bank’s monthly report published on Sunday. They currently stand at their lowest level since July 2010, according to data compiled by Bloomberg.

  • Saudi Aramco overtakes Microsoft as world’s 2nd largest company by market value

    Apple still holds the top of the ranking, with a market value of approximately 2.6 trillion dollars, followed by Aramco at 2.11 trillion dollars, then Microsoft at 2.05 trillion dollars. According to Arabic daily Al-Arabiya.net, the rise in Saudi Aramco’s shares came after Crown Prince Mohammed bin Salman announced, this month, the transfer of 4 per cent of its shares to Sanabel Investment Company, which is wholly owned by the Public Investment Fund (PIF).

  • Infosys Signs Deal To Revamp Saudi Aramco’s HR Technology

    Infosys' HR platform for Aramco will aim to optimise repetitive tasks related to HR management, reducing time and effort spent training employees. An AI-powered analysis will support Aramco with algorithmic decision-making to spot trends and identify relevant recruitment channels.

  • Why Saudi Arabia Transfered 4% of Aramco Shares to PIF Subsidiary?

    The transfer will also solidify PIF’s strong financial position and credit rating. The Crown Prince also pointed out that the State will remain Saudi Aramco's largest shareholder following the transfer, with total ownership of (90.18%) of the company’s shares. He concluded that PIF continues with its mandate to launch new sectors, build new strategic partnerships, localize technologies and knowledge, and create more direct and indirect job opportunities in the local market.

  • Saudi Crown Prince Transfers 4% Of Aramco To Sovereign Wealth Fund

    "This is a private transfer between the state and Sanabil, and the company is not a party to the transfer and did not enter into any agreements or pay or receive any proceeds from the transfer," Aramco said in a stock exchange filing cited by the Associated Press.

  • Saudi Aramco 4% stake transferred to PIF’s Sanabil

    A 4% stake in oil major Saudi Aramco (2222.SE) has been transferred from state ownership to Sanabil Investments, which is wholly owned by the Saudi Arabia's sovereign wealth fund, Crown Prince Mohammed Bin Salman said on Sunday. The state remains Aramco's biggest shareholder, owning 90.18% of the company.

  • Fitch Upgrades Saudi Aramco to ‘A+’; Outlook Stable

    The upgrade follows the upgrade of Saudi Arabia (A+/Stable). Saudi Aramco's rating is constrained at that of its majority shareholder Saudi Arabia, given the close links between the company and the sovereign. We assess Saudi Aramco's Standalone Credit Profile (SCP) at 'aa+'. Saudi Aramco's Short-Term IDR of 'F1+' is equalised with that of the sovereign.

  • Saudi jobs: Aramco announces new job platform for Saudi talent

    The Human Resources Platform on Demand, named Madd, has been launched by Saudi Aramco and the Future Work Business Services Company to provide independent workers and trained professionals with job opportunities at large companies and entities.