RIYADH: Saudi Arabia’s main index, TASI, wiped out early morning losses in the final trading session before Eid break, adding 0.63 percent to 11,416. This follows Al Rajhi Capital’s forecast that the Saudi stock market is not expected to suffer sharp declines. Mazen Al-Sudairy, head of research at Al Rajhi Capital, told Ashraq the oil price will remain above $90, which is
Middle-East Arab News and Opinion - Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities
President Joe Biden sounded deeply frustrated. Inflation was heading toward a 30-year high and Americans, rich and poor, could see the price of gasoline going up almost daily. Politically, oil was toxic for the White House.
Archyde
April 29, 2021 by archyde
Sources indicated to “Reuters” that Chinese investors, including CIC and Chinese national oil companies, are in talks to buy a stake in Saudi Aramco, while the company is preparing to sell another part to international investors.
And it was Saudi Crown Prince Mohammed bin SalmanRecently, it was revealed that Saudi Arabia is considering selling 1% of Aramco to a leading global energy company, and that it may sell more shares, some of them to international investors, within a year or two.
It is expected that the value of a stake of 1% will reach about nineteen billion dollars, based on the current market value of “Aramco”.