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.
The drone attacks on two pump stations on Saudi Aramco’s East-West pipeline, which transports Saudi oil from the Eastern Province to the port of Yanbu, are cowardly, dangerous and deliberate acts of terrorism that deserve a strong international response. As Saudi Energy Minister Khalid Al Falih pointed out,
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.
In a sign of continuing investor confidence in Dubai and new opportunities arising across diverse economic sectors, the Department of Economic Development (DED) in the emirate issued 2,394 new licenses for various professional,
New banking and licensing solutions tailored to the needs of startups, an uptick in the number of fintech startups specialising in SME banking and increased cooperation between UAE banks and the country’s startup ecosystem
Dubai’s economy continues to experience sustained growth from the contribution of business tourism, thereby driving the nation’s economic diversification agenda prioritised in the UAE Centennial 2071 strategy.