Aramco to acquire Sabic stake for $69B
29 March 2019 |
8:17 am
Saudi Aramco will buy a majority stake in chemical giant Sabic from the kingdom’s sovereign wealth fund for over $69B. This is the Middle East’s biggest ever deal. It will transfer a big slug of cash from one arm of the state to another to finance Crown Prince Mohammed bin Salman’s economic agenda.
Related
Related
16 Sep 2019
Fires broke out at the kingdom's largest oil-processing plant and another site following drone attacks. Online videos showed plumes of smoke, although the Saudi Interior Ministry said the fires had been "controlled."
26 Sep 2019
Saudi Arabia's crown prince said he bears responsibility for the killing of journalist Jamal Khashoggi last year by Saudi operatives "because it happened under my watch," according to a PBS documentary to be broadcast next week.
30 Sep 2019
Saudi Arabia's crown prince warns in a 60 Minutes interview that oil prices could spike over tensions with Iran, and denies involvement in the killing of journalist Jamal Khashoggi nearly one year ago.
17 Nov 2019
Saudi Aramco has revealed details of its highly-anticipated initial public offering, expected to be the largest in history, in a new prospectus. The offering is set to begin on November 17.
9 Dec 2019
Saudi oil giant Aramco raises $25.6 billion in the world's biggest ever IPO, beating a record set by Alibaba in 2014. Meanwhile, OPEC members meet in Vienna to discuss cutting oil production by a further 500,000 barrels a day - more than previously expected.
11 Dec 2019
Saudi Arabia has listed the world's most profitable company on the stock market in what's been the world's largest IPO. Right now, shares are only being traded on the Tadawul Exchange in Riyadh.
7 Jun 2020
In recent years, Saudi Crown Prince Mohammed bin Salman has launched a lawless crusade against critics and possible rivals. The case of a detained prince has shed light on his methods of using fear to consolidate power.
21 Oct 2020
Hatice Cengiz and US-based group DAWN have filed a civil suit, pursuing the Saudi prince and 28 others for damages. Khashoggi was murdered two years ago when he entered the Saudi consulate to obtain marriage papers.
4 Mar 2021
In an interview with FRANCE 24, the fiancée of slain Saudi journalist Jamal Khashoggi hailed the recent decision by the Biden administration to declassify an intelligence assessment of her fiancé's shocking 2018 murder at the Saudi consulate in Istanbul. But Hatice Cengiz called on Washington to go beyond words and enforce "sanctions" or other "actions" against Saudi Crown Prince Mohammed bin Salman.
5 Apr 2021
Former Jordanian Crown Prince Hamzah bin Hussein claims to be under house arrest. Jordanian authorities have arrested several people on "security related" grounds.
27 Oct 2021
Saudi Arabia, the world's top oil exporter, aims to achieve net zero carbon emissions by 2060, says Crown Prince Mohammed bin Salman, days before the COP26 global climate summit. In March, Saudi Arabia unveiled a sweeping campaign to tackle climate change and reduce carbon emissions, including a plan to plant billions of trees in the coming decades.
29 Mar 2022
Yemen's Houthi rebels say they carried out several attacks on Friday, the largest being on an oil storage and shipping facility in Jiddah. Sunday's F1 Grand Prix there will go ahead as scheduled, say organizers.
Latest
56 mins ago
Citing declining inflation and a strong rebound in economic activity, Ghana's central bank on Monday (September 25) held its interest rate at 30%.
1 hour ago
EU chief Ursula von der Leyen and Italy's premier Giorgia Meloni have visited a migrant center on Italy's southernmost island after a surge in the number of migrants arriving there.
1 hour ago
German police say 26 officers were among those injured after violence on the sidelines of an Eritrean event in Stuttgart. Tensions run deep within the diaspora over the eastern African nation's polarized politics.
1 day ago
Find these stories and much more when you grab a copy of The Guardian on Saturday.
1 day ago
After beginning a strike one week ago, the United Auto Workers union has increased the number of plants affected by industrial action. Until now, workers have been striking at three sites, one each for Ford, General Motors and Stellantis. UAW leader Shawn Fain says that will be increased to 38 factories, all of them GM and Stellantis parts distribution centres. Ford has been spared of further disruption, with the union saying the company has made "important concessions".
1 day ago
This week in Across Africa, Georja Calvin-Smith speaks to Namibian President Hage Geingob ahead of his arrival in New York for the UN General Assembly. He shares his perspective on governance, the impact of Africa's first climate change summit and the role of the African Union in responding to regional upheaval.