Aramco in advanced talks on up to $25 bln Reliance deal – Bloomberg News
Saudi Aramco (2222.SE) is in advanced talks to acquire a roughly 20% stake in Reliance Industries Ltd’s (RELI.NS) oil refining and chemicals business for about $20 billion to $25 billion in Aramco’s shares, Bloomberg News reported on Monday.
Analysis: OPEC disagreement lays bare growing UAE-Saudi economic rivalry
Rare public disagreement between the United Arab Emirates and Saudi Arabia over OPEC policy points to a growing economic rivalry between the two largest Arab economies which only looks set to intensify, several regional analysts said.
EXCLUSIVE New Saudi airline plan takes aim at Emirates, Qatar Airways
Saudi Arabia plans to target international transit passenger traffic with its new national airline, going head-to-head with Emirates and Qatar Airways and revving up regional competition.
Goldman, Blankfein, Cohn must face shareholder lawsuit over 1MDB scandal
Goldman Sachs Group Inc (GS.N) and two former top executives were ordered by a U.S. judge on Monday to face a lawsuit accusing them of misleading shareholders about the bank’s work for 1MDB, a Malaysian fund that became embroiled in a corruption scandal.
Maersk VC co-leads funding round in Egyptian start-up Trella
Egyptian startup Trella, a digital platform connecting truckers with freight loads, has raised $42 million in equity and debt, including from the venture capital arm of shipping giant Maersk, its chief executive said.
Analysis: DAMAC delisting plan piles pressure on shrinking Dubai market
Dubai’s stock market is set for another delisting, raising a question mark over the future of one of the Gulf’s major exchanges, which was launched two decades ago.
Saudi first quarter GDP shrinks 3%, hit by oil sector decline
Saudi Arabia’s gross domestic product fell 3% in the first quarter, slightly less than official estimates and compared with a 1% contraction last year, as a sharp fall in the oil sector pulled back the economy, data showed.
Saudi Aramco in talks with banks for new bond sale – sources
Saudi Arabian oil group Aramco (2222.SE) is in talks with banks for a U.S. dollar-denominated bond issue, two sources said, seeking to raise money ahead of large commitments for its major shareholder, the Saudi government.
Oil extends gains on OPEC+ supply discipline and demand prospects
Oil rose on Wednesday, supported by an OPEC+ decision to stick to its plan to restore supply to the market gradually and by the slow pace of nuclear talks between Iran and the United States.
Buy now, pay later players tackle credit conundrum in Mideast’s Gulf
Financial technology start-ups in Saudi Arabia and the United Arab Emirates offering online short-term credit say they are enjoying exponential growth as the coronavirus pandemic drives a shift in consumer spending online.
