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Saudi Arabia and Qatar are expected to reach an agreement within days that will help ease a standoff that has embroiled the Gulf region since 2017, three people briefed on the discussions told NBC News on Friday. Saudi Arabia, the United Arab Emirates, Egypt and Bahrain cut off all diplomatic ties to Qatar three years ago and began a blockade against their former ally, accusing Doha of supporting terrorism. In exchange, the Qataris would drop pending international lawsuits against Saudi Arabia, according to one source. In August 2017, Doha restored full diplomatic relations with Tehran, deepening the feud with the other countries. Saudi Arabia did not immediately respond to a request for comment.
Persons: Prince Faisal bin Farhan Al Saud, Sheikh Mohammed bin Abdulrahman Al Thani, Jared Kushner, Donald Trump's, Trump, Qataris, Abraham, ” Sheikh Mohammed Organizations: NBC, United Arab, Doha, Saudi Arabian Foreign, Associated Press, Qatari, White, Abraham Accords, UAE, Qatar, Muslim, Saudi Locations: Saudi Arabia, Qatar, United Arab Emirates, Egypt, Bahrain, Saudi, U.S, Doha, Israel, Iran, Jazeera, Tehran, UAE, Kuwait
Saudi and Israeli sources say that Prime Minister Benjamin Netanyahu and Crown Prince Mohammad bin Salman met covertly on November 22, the first such meeting between Israeli and Saudi leaders. Full normalization between Saudi Arabia and Israel remains unlikely in the near term, but defense and intelligence cooperation will continue to advance in the coming months. Saudi Arabia, and in particular its high-profile development projects like Neom, are reliant on advanced technologies such as biotech, agricultural tech and cyber technologies to succeed. However, Saudi Arabia has not yet shown that it's prepared to make the jump to normalization with Israel without the formation of a Palestinian state. Domestic backlash in Saudi Arabia could also cause notable security concerns.
Persons: Benjamin Netanyahu, Prince Mohammad bin Salman, Mike Pompeo's, Netanyahu, Saudi Crown Prince, Yossi Cohen, Mike Pompeo, Donald Trump, Abu Dhabi's, Prince Mohammed bin Zayed Al Nahyan, Evan Vucci, Joe Biden, Biden, Saudi Arabia's, Saudi King Salman bin Abdulaziz, it's, King Salman, Prophet Muhammad Organizations: Saudi, Reuters, Street, Saudi Crown, Iran, United, United Arab, Trump White House, AP, Congress, Trump, Saudi Press Agency, Handout, United Arab Emirates, Initiative Locations: Saudi Arabia, Israel, Saudi, Neom, United States, Arab Gulf, United Arab Emirates, Bahrain, Sudan, Riyadh, Evan Vucci Saudi Arabia, Iran, Yemen, Saudi Arabian, Iraq, Lebanon, Syria, Pakistan, Indonesia, Malaysia, Bangladesh, Palestinian, France
Saudi Aramco says customers unaffected by Houthi attack on Jeddah facility
  + stars: | 2020-11-24 | by ( ) www.cnbc.com sentiment -1.00   time to read: +1 min
Oil tanks at an oil processing facility of Saudi Aramco, a Saudi Arabian state-owned oil and gas company, at the Abqaiq oil field. An official from the Saudi Aramco oil company on Tuesday said customers were unaffected by an attack that came from Yemen's Houthi group at a petroleum products distribution plant in the north of Jeddah city. Yemen's Iran-aligned Houthi forces on Monday said they fired a missile at and struck the Jeddah facility. One of the 13 tanks at Aramco's North Jeddah Bulk Plant is currently out of action, the official told journalists on a tour. He described the site as a "critical facility" which distributes more than 120,000 barrels of products per day domestically to Jeddah, Mecca and the al-Baha region.
Persons: Yemen's Organizations: Saudi Aramco, Jeddah Bulk Locations: Saudi, Saudi Arabian, Saudi Aramco, Jeddah city, Yemen's Iran, Jeddah, Mecca
FILE PHOTO: A man sits on a chair next to Western Union currency exchange office in Prague, Czech Republic, September 8, 2017. REUTERS/David W Cerny/File PhotoDUBAI (Reuters) - Western Union, the world’s largest money transfer firm, has acquired a 15% stake in the digital payment unit of Saudi Arabia’s STC Group for $200 million. He said the deal created the first “Saudi unicorn and the first fintech unicorn in the Middle East”. Reducing dependence on cash is part of Saudi government efforts to modernise the economy of the world’s largest oil exporter. STC said its stc pay unit is the first licensed fintech company by the Saudi Arabian Monetary Authority, the Saudi central bank, and has more than 4.5 million users.
Persons: David W Cerny, Mohammed bin Khalid Abdullah Al Faisal Organizations: Western Union, REUTERS, DUBAI, Reuters, Saudi Arabia’s, stc, STC, Unicorns, Saudi Arabian Monetary Authority Locations: Prague, Czech Republic, Western, Saudi
Secretary of State Mike Pompeo met with a Taliban delegation hours after mortar shells slammed into different parts of Afghanistan's capital, Kabul, on Saturday, killing at least eight people. The mortar barrage came as Pompeo was preparing to meet with representatives of the Afghan government and the Taliban, who are holding talks in the Arabian Gulf nation of Qatar, though progress has been slow. Abdullah Abdullah, the Afghan government's chief negotiator in peace talks, condemned Saturday's attack in a tweet calling it a "cowardly" act. Members of Taliban's peace negotiation team met with US Secretary of State Mike Pompeo in the Qatari capital Doha, on Saturday. There have been calls for a cease-fire if peace talks in Doha are to continue.
Persons: Mike Pompeo, Tariq Arian, Pompeo, Zabihullah Mujahid, Akbar Khan, Abdullah Abdullah, Saturday's, Patrick Semansky, Christopher Miller, Miller, Donald Trump's, Jens Stoltenberg, Stoltenberg Organizations: Taliban, NBC News, ISIS, SITE Intelligence Group, NBC, Iranian Embassy, Qatari, Doha, Getty, The U.S, Pentagon, U.S, Capitol, NATO, United, Associated Press Locations: Kabul, Arabian, Qatar, Iranian, AFP, Qatar's, Doha, Afghanistan, U.S, Iraq, United States
RIYADH/DUBAI (Reuters) - Saudi Arabia’s Minister of Investment Khalid al-Falih said on Saturday foreign direct investment (FDI) increased by 12% in the first half of 2020 compared with the same period last year. FILE PHOTO: Saudi Arabian Investment Minister Khalid al-Falih, wears a mask as he attends a virtual meeting of B20 at the Saudi Business Group summit in Riyadh, Saudi Arabia October 26, 2020. “When I mentioned the 12% increase I wanted to assure people that there was no decline, our FDI target is much higher,” Falih said on Saturday. As part of efforts to attract foreign investors, Saudi Arabia will launch next year special economic zones dedicated to several sectors, Falih said. In addition to attracting higher investment volumes, it will focus on “qualitative growth”, he said, mentioning areas such as cloud computing, renewable energy, tourism, culture, entertainment, and logistics.
Persons: Khalid, Falih, Khalid al, Ahmed Yosri, “ I’m, ” Falih Organizations: Reuters, Saudi Arabia’s, Saudi Arabian Investment, Saudi Business Group, REUTERS, Saudi Aramco Locations: RIYADH, DUBAI, Saudi, Riyadh, Saudi Arabia
FILE PHOTO: Saudi Arabian Investment Minister Khalid al-Falih, speaks during a virtual meeting of B20 at the Saudi Business Group summit in Riyadh, Saudi Arabia October 26, 2020. REUTERS/Ahmed YosriDUBAI (Reuters) - Saudi Arabia’s Minister of Investment Khalid al-Falih said on Saturday the Gulf state plans to launch special economic zones in 2021. Speaking to a G20 panel, Falih also said the kingdom’s Vision 2030 plan to diversify the economy away from oil was more popular today than ever and that the country was emerging from the coronavirus pandemic with a resilient economy and private sector.
Persons: Khalid al, Ahmed Yosri, Khalid, Falih Organizations: Saudi Arabian Investment, Saudi Business Group, REUTERS, Reuters, Saudi Arabia’s Locations: Saudi, Riyadh, Saudi Arabia, Ahmed Yosri DUBAI
Oil tanks at an oil processing facility of Saudi Aramco, a Saudi Arabian state-owned oil and gas company, at the Abqaiq oil field. Net profit dropped to 44.21 billion riyals ($11.8 billion) this quarter from 79.84 billion riyals in the third quarter of 2019. The Saudi kingdom's state oil company saw lower crude oil prices and volumes sold, as well as weaker refining and chemicals margins, the company said in its release Tuesday. Aramco's first quarter dividend was paid in the second quarter. Aramco's stock price on the Saudi Tadawul was up just under 1% at 34.50 riyals per share within an hour of the exchange's open.
Persons: Aramco's, Neil Beveridge, Bernstein, CNBC's, Saudi Tadawul, Brent Organizations: Saudi Aramco, United Arab Emirates, Saudi, Aramco Locations: Saudi, Saudi Arabian, DUBAI, United Arab, Saudi Aramco
HONG KONG (Reuters) - The domestic retail book of Ant Group Co Ltd’s $34.4 billion dual listing was 872 times oversubscribed as individual investors in China scrambled for a slice of the world’s largest initial public offering (IPO), a company filing showed. Investor demand is also strong for the Hong Kong leg, with Ant closing institutional order books one day earlier than planned. The book was oversubscribed just one hour after launch on Monday, with the float stoking heavy demand for local currency and sending Hong Kong money market rates to five-month highs. Strong demand is also expected for the 41.76 million shares, being offered to retail investors in Hong Kong, representing 2.5% of shares being offered locally. The prospectus shows the total amount will be increased to 167.1 million shares, or 10% of the Hong Kong offering, if the initial retail allocation is more than 20 times oversubscribed.
Persons: Aly, Alibaba, Ant Organizations: Reuters, Ant, Ant Group, REUTERS, STAR, Saudi Arabian Oil Co, Nasdaq, Shanghai, Investor, Hong, HONG KONG (Reuters), Alibaba, Zhejiang province, REUTERS Locations: HONG KONG, China, Alibaba, Hangzhou, Zhejiang province, HK688688 ., Hong Kong, Saudi Aramco, Shanghai, Hangzhou
HONG KONG (Reuters) - The domestic retail book of Ant Group Co Ltd’s $34.4 billion dual listing was 872 times oversubscribed as individual investors in China scrambled for a slice of the world’s largest initial public offering (IPO), a company filing showed. Investor demand is also strong for the Hong Kong leg, with Ant closing institutional order books one day earlier than planned. The book was oversubscribed just one hour after launch on Monday, with the float stoking heavy demand for local currency and sending Hong Kong money market rates to five-month highs. Strong demand is also expected for the 41.76 million shares, being offered to retail investors in Hong Kong, representing 2.5% of shares being offered locally. The prospectus shows the total amount will be increased to 167.1 million shares, or 10% of the Hong Kong offering, if the initial retail allocation is more than 20 times oversubscribed.
Persons: Aly, Alibaba, Ant Organizations: Reuters, Ant, Ant Group, REUTERS, STAR, Saudi Arabian Oil Co, Nasdaq, Shanghai, Investor, Hong, HONG KONG (Reuters), Alibaba, Zhejiang province, REUTERS Locations: HONG KONG, China, Alibaba, Hangzhou, Zhejiang province, HK688688 ., Hong Kong, Saudi Aramco, Shanghai, Hangzhou
HONG KONG (Reuters) - The domestic retail book of Ant Group Co Ltd’s $34.4 billion dual listing was 872 times oversubscribed as individual investors in China scrambled for a slice of the world’s largest initial public offering (IPO), a company filing showed. Investor demand is also strong for the Hong Kong leg, with Ant closing institutional order books one day earlier than planned. The book was oversubscribed just one hour after launch on Monday, with the float stoking heavy demand for local currency and sending Hong Kong money market rates to five-month highs. Strong demand is also expected for the 41.76 million shares, being offered to retail investors in Hong Kong, representing 2.5% of shares being offered locally. The prospectus shows the total amount will be increased to 167.1 million shares, or 10% of the Hong Kong offering, if the initial retail allocation is more than 20 times oversubscribed.
Persons: Aly, Alibaba, Ant Organizations: Reuters, Ant, Ant Group, REUTERS, STAR, Saudi Arabian Oil Co, Nasdaq, Shanghai, Investor, Hong, HONG KONG (Reuters), Alibaba, Zhejiang province, REUTERS Locations: HONG KONG, China, Alibaba, Hangzhou, Zhejiang province, HK688688 ., Hong Kong, Saudi Aramco, Shanghai, Hangzhou
HONG KONG (Reuters) - The domestic retail book of Ant Group Co Ltd’s $34.4 billion dual listing was 872 times oversubscribed as individual investors in China scrambled for a slice of the world’s largest initial public offering (IPO), a company filing showed. Investor demand is also strong for the Hong Kong leg, with Ant closing institutional order books one day earlier than planned. The book was oversubscribed just one hour after launch on Monday, with the float stoking heavy demand for local currency and sending Hong Kong money market rates to five-month highs. Strong demand is also expected for the 41.76 million shares, being offered to retail investors in Hong Kong, representing 2.5% of shares being offered locally. The prospectus shows the total amount will be increased to 167.1 million shares, or 10% of the Hong Kong offering, if the initial retail allocation is more than 20 times oversubscribed.
Persons: Aly, Alibaba, Ant Organizations: Reuters, Ant, Ant Group, REUTERS, STAR, Saudi Arabian Oil Co, Nasdaq, Shanghai, Investor, Hong, HONG KONG (Reuters), Alibaba, Zhejiang province, REUTERS Locations: HONG KONG, China, Alibaba, Hangzhou, Zhejiang province, HK688688 ., Hong Kong, Saudi Aramco, Shanghai, Hangzhou
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