Breaking News, Latest Philippines Headlines, World, Entertainment, Politics, Weather & Video News
by Anuj Chopra with Omar Hasan in Dubai RIYADH, Saudi Arabia (AFP) — Saudi Aramco reported Sunday a 20.6 percent drop in 2019 net profit due to lower crude prices and production levels, in its first earnings announcement as a listed company amid an escalating price war. The world’s most valuable firm also announced it was slashing its capital expenditure for this year, as the price war with Russia and the spreading coronavirus pandemic rattle […]
RIYADH, Saudi Arabia (AFP) — Energy giant Saudi Aramco said Wednesday it plans to raise its crude production capacity by one million barrels per day to 13 million BPD as a price war with Russia intensifies. “Saudi Aramco announces that it received a directive from the ministry of energy to increase its maximum sustainable capacity from 12 million BPD to 13 million BPD,” the company said in a statement to the Saudi Stock Exchange. The […]
by Gregory WALTON DOHA, Qatar (AFP) — Talks between Doha and Riyadh to resolve a two-year regional spat have stalled, Qatar’s foreign minister said, after a flurry of diplomacy late last year raised hopes the damaging rift was being healed. Saudi Arabia, along with its allies the United Arab Emirates, Bahrain and Egypt, cut all diplomatic, trade and transport ties with Qatar in June 2017. The four governments accused Doha of backing radical Islamists, including […]
RIYADH, Saudi Arabia (AFP) — Saudi Oil Minister Prince Abdulaziz Ben Salman said Monday the kingdom has taken every step to secure its oil facilities and guarantee market stability amid rising regional tensions. The US drone strike that killed Iranian general Qassem Soleimani on January 3 has exacerbated fears of broader conflict in a region that has seen attacks on ships and Saudi oil facilities in the last year. “We have taken all the possible […]
RIYADH, Saudi Arabia (AFP) — Japanese Prime Minister Shinzo Abe has warned that military confrontation with Iran will impact global peace and stability, as he visits the Middle East hoping to ease tensions spiked by the US killing of a top Iranian general. His comments came at the start of a five-day Gulf tour that had been thrown into doubt after Tehran responded to the attack on Qasem Soleimani by launching a barrage of missiles […]
WASHINGTON, United States (AFP) — The Pentagon announced Tuesday it was temporarily suspending operational training for Saudi military students in the United States following a shooting rampage last week by a Saudi air force officer. Saudi Arabian military students in the United States will continue classroom instruction but operational training is halted pending a security review, senior Defense Department officials said. Mohammed Alshamrani, a 21-year-old lieutenant in the Saudi Royal Air Force, opened fire in […]
by Anuj Chopra with Luc Olinga in New York RIYADH, Saudi Arabia (AFP) — Saudi Aramco on Thursday priced its long-awaited IPO at the high end of the target range, raising $25.6 billion and giving the energy giant a valuation of $1.7 trillion in the world’s biggest stock sale. Aramco priced its initial public offering at 32 riyals ($8.53) per share, surpassing the $25 billion raised by Chinese retail giant Alibaba when it debuted on […]
RIYADH, Saudi Arabia (AFP) — Saudi oil giant Aramco said on Friday that applications from private investors for its planned stock market offering had been oversubscribed. The much-delayed initial public offering, first announced in 2016, is a cornerstone of Saudi Crown Prince Mohammed bin Salman’s ambitious plan to diversify the Gulf state’s oil-reliant economy. The IPO could exceed the world’s biggest to date — the $25 billion float of Chinese retail giant Alibaba in 2014. […]
ABU DHABI, United Arab Emirates (AFP) — Saudi Crown Prince Mohammed bin Salman visited the United Arab Emirates Wednesday, as efforts to end the nearly five-year war in Yemen gain momentum. Riyadh and Abu Dhabi are close allies and key members of a military coalition backing the government in Yemen against the Iran-aligned Huthi rebels. But an Emirati drawdown in July followed by fighting in southern Yemen between UAE-backed separatists and the government — still […]
RIYADH, Saudi Arabia (AFP) — Three performers were stabbed during a play in the Saudi capital Monday and the alleged assailant was arrested, state television said, in the first such incident since the kingdom opened its doors for entertainment. “Riyadh police have arrested an Arab resident in possession of a knife after he stabbed two men and a woman who were members of a theatrical group,” Al-Ekhbariya television reported. It said the injured were in […]
RIYADH, Saudi Arabia (AFP) — Energy giant Saudi Aramco, the world’s largest company, has lifted the lid on its secretive operations in a prospectus ahead of a highly anticipated listing on the Riyadh stock exchange. As a legal requirement for its initial public offering, expected to be the world’s biggest, Aramco has published major risks and strengths that could impact the company’s operations. Here are the factors that the energy Goliath said investors must take […]
SAN FRANCISCO, United States (AFP) –Two former Twitter employees and a third man were charged in San Francisco Federal Court Wednesday with spying on Twitter users critical of the Saudi royal family, the US Justice Department announced. The two Saudi citizens and one US citizen allegedly worked together to unmask the ownership details behind dissident Twitter accounts on behalf of the government in Riyadh and the royal family, the department said. According to a court […]
