Oil tanks seen at the Saudi Aramco facility in Dammam. Reuters
Saudi Aramco is set to raise $12 billion with its first international bond issue after receiving more than $100 billion in orders, a record breaking vote of market confidence for the oil giant. State-owned Aramco›s bond issue, split into maturities ranging from three to 30 years, is seen as a gauge of potential investor interest in the Saudi company›s eventual initial public offering.
Riyadh is committed to “stabilise” the oil market after a US decision to end sanction exemptions for Iran’s customers, Saudi Arabia›s Energy Minister Khalid Al Falih said on Monday. The kingdom reaffirms its longstanding policy, which seeks to stabilise the markets at all times,” he said in a statement carried by the official Saudi Press Agency.
Saudi Crown Prince Mohammed Bin Salman plans to visit South Korea this week as the two countries seek to bolster economic ties, officials in Seoul said on Monday.
Activity is contracting in the US manufacturing sector but the number of Americans filing applications for unemployment benefits fell last week, signs that factories are suffering from a global slowdown even as the broader labour market remains healthy.
Automation and AI-driven technologies are changing the face of Middle East’s warehousing industry, pushing advanced inventory control high up the industry agenda and sharpening cost-control, space optimisation and competitiveness,
The total trade between the UAE and the UK grew by around 7.4 per cent to Dhs24.45 billion (£5.49 billion) in the first half of this year, up from Dhs22.76 billion (£5.11 billion) in the corresponding period last year.
Cairo WoodShow, North Africa’s leading platform for wood and woodworking machinery, with 120 exhibitors and 7,000 visitors from 25+ countries, is gearing up to organise its 5th edition from December 5 to 8, 2019 at Cairo International Convention Centre.