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Saudi Aramco

Saudi Aramco lines up banks for bond sale
Business & Finance

Saudi Aramco lines up banks for bond sale

  • Aramco was widely expected to become a regular bond issuer after its debut $12 billion bond deal in 2019 was followed by an $8 billion, five-part transaction in November last year.
  • The energy giant is expected to raise up to $5 billion and the deal, which would be through sukuk, or Islamic bonds, is expected in the next few weeks.
Updated 02 Jun, 2021 06:54pm
Saudi Aramco to refinance $10 billion revolving loans
Business & Finance

Saudi Aramco to refinance $10 billion revolving loans

  • Aramco, the world's largest oil company, raised the revolving credit facility in 2015 with a wide group of international and local banks.
  • That financing included two five-year loans, one in US dollars and one in riyal, and two annually renewable one-year loans, also split between the two currencies.
Published 22 Apr, 2021 06:12pm
Saudi $7 trillion investment goal puts spotlight on oil prices
World

Saudi $7 trillion investment goal puts spotlight on oil prices

  • Saudi pursuing 27 trillion riyal spending push.
  • Under plan, some firms required to cut payouts to government.
  • More taxes, royalties will help to plug gap – analysts.
  • So Saudi will likely need higher oil prices.
  • OPEC leader may need to curb supply to prop up prices.
Published 08 Apr, 2021 06:09pm
Saudi cement firm postpones capital reduction plan amid private sector push
Markets

Saudi cement firm postpones capital reduction plan amid private sector push

  • Yanbu Cement, listed on the Saudi stock exchange Tadawul, had said in January its board had recommended a capital reduction to 1 billion riyals ($266.65 million) from 1.575 billion riyals as the capital exceeded the company's needs.
  • The capital decrease would have happened by cancelling 36.5% of its shares and compensating shareholders.
Published 05 Apr, 2021 09:37pm
Most major Gulf markets gain; Saudi index dips
Markets

Most major Gulf markets gain; Saudi index dips

  • Saudi Arabia's crown prince said oil firm Aramco and petrochemical firm SABIC would lead 5 trillion riyals ($1.33 trillion) of investments by the local private sector by 2030 under a programme announced on Tuesday for economic diversification.
  • The kingdom's benchmark index eased 0.1%, hit by a 1.5% fall in oil giant Saudi Aramco and 2% slide in Saudi Basic Industries Corp.
Published 01 Apr, 2021 07:48pm
Saudi shares firm as major Gulf markets end mixed
Markets

Saudi shares firm as major Gulf markets end mixed

  • Saudi Arabia's benchmark index finished 0.3% higher, with Al Rajhi Bank rising 2% and Samba Financial Group climbing 1.4%.
  • In Dubai, the main share index eased 0.2%, hit by a 1.9% fall in blue-chip developer Emaar Properties and a 1.1% retreat in sharia-compliant lender Dubai Islamic Bank .
Updated 08 Mar, 2021 10:16pm
Egypt blue-chip index climbs
Markets

Egypt blue-chip index climbs

DUBAI: Saudi Arabia’s stock market ended higher on Sunday, mirroring Friday’s jump in crude prices, while...
Published 08 Mar, 2021 05:45am