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☆ BlackRock names Aramco boss to board
▼ + stars: | 2023-07-18 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

LONDON, July 17 (Reuters) - The world's top asset manager BlackRock (BLK.N) has named Amin Nasser, the chief of the world's largest oil company Saudi Aramco (2223.SE), as an independent director. His expertise in the Middle East will fill the gap left by Bader Alsaad, chairman of the board of the Arab Fund for Economic & Social Development, who is not standing for reelection on BlackRock's board in 2024, the asset manager said on Monday. BlackRock has sought to strike a balance on the issue of climate change, continuing to invest in fossil fuel companies, while nudging them to adopt energy transition plans. Aramco, for its part last October unveiled a $1.5 billion sustainability fund to initially focus on areas including carbon capture and storage, greenhouse gas emissions, as well as hydrogen, ammonia and synthetic fuels. However, Nasser said the current global energy transition plan was flawed.

Persons: Amin Nasser, Nasser, Bader Alsaad, Natalie Grover, Sharon Singleton Organizations: BlackRock, Saudi Aramco, Saudi, Arab Fund for Economic & Social Development, Aramco, Gulf, Thomson Locations: Saudi Arabia, Riyadh, Paris, London

☆ BlackRock’s Aramco embrace makes sense in a vacuum
▼ + stars: | 2023-07-18 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +4 min

The $109 billion asset manager run by Larry Fink said on Monday it would add Saudi Aramco (2222.SE) Chief Executive Amin Nasser to its 16-strong board. But judged through an investment lens the appointment makes sense. Nasser, who led Aramco through its 2019 initial public offering, will take the seat currently occupied by Bader Alsaad, a former managing director of the Kuwait Investment Authority. Follow @thereallsl on TwitterCONTEXT NEWSBlackRock on July 17 said Amin Nasser, chief executive of Saudi Aramco, would join its board as an independent director. “Amin’s distinguished career at Aramco, spanning more than four decades, gives him a unique perspective on many of the key issues facing our firm and our clients,” BlackRock Chief Executive Larry Fink said in a statement.

Persons: Larry Fink, Amin Nasser, Nasser, Bader Alsaad, Jamal Khashoggi, Randall Stephenson, Fink, Richard Blumenthal, T Rowe Price, Fink –, “ Amin’s, Peter Thal Larsen, Sharon Lam Organizations: YORK, Reuters, BlackRock, Aramco, Kuwait Investment Authority, of, Petroleum, Saudi, Golfers ’ Association, Global Energy, Exxon Mobil, Chevron, Shell, Thomson Locations: BlackRock, Saudi Aramco, Kuwait, Saudi Arabia, United States, U.S, Texas, Connecticut, Aramco

☆ BlackRock made a climate pledge. Then it appointed a Saudi oil executive to its board
▼ + stars: | 2023-07-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —BlackRock, the world’s biggest asset manager, said Monday it has appointed Amin Nasser, chief executive of oil giant Saudi Aramco, to its board of directors — despite the New York-based firm’s pledge to accelerate investment in climate-friendly companies. Nasser joined the state-run oil giant Saudi Aramco in 1982 as a petroleum engineer, rising up the ranks to become CEO in 2015. Saudi Aramco is the world’s largest oil producer, with a market capitalization of 7.8 trillion Saudi riyal ($2.1 trillion). But, like other fossil fuel companies, pressure has built on Saudi Aramco to take more drastic action to curb its greenhouse gas emissions. President and CEO of Aramco Amin Nasser attends the Energy Asia conference in Kuala Lumpur, Malaysia June 26, 2023.

Persons: Amin Nasser, —, Bader Alsaad, Larry Fink, Nasser, Hasnoor Hussain, ” Nasser, BlackRock’s, Jeff Sonnenfeld, Nasser “ Organizations: London CNN — BlackRock, Saudi Aramco, New, BlackRock, Arab Fund for Economic, Social, Saudi, —, Energy Asia, World Petroleum Congress, Yale School of Management, CNBC, Aramco, CNN Locations: Saudi, New York, ”, Ukraine, Kuala Lumpur, Malaysia, decarbonize, United States, BlackRock

☆ Ronaldo gives Portugal late win on 200th international appearance
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

June 20 - Cristiano Ronaldo scored a stunning late goal as Portugal beat Iceland 1-0 on Tuesday to extend their perfect record in Euro 2024 qualifying Group J on an historic night for the forward who became the first player to make 200 international appearances. Ronaldo already held the record for most international appearances when he surpassed Kuwait’s Bader Al-Mutawa’s, who held the record of 196 matches, during Portugal's Euro 2024 qualifier against Liechtenstein in March. It was Ronaldo's 123rd goal for Portugal, extending his record as the all-time leading international goalscorer. The result left Portugal top with 12 points, two ahead of second-placed Slovakia, who won 1-0 away to Liechtenstein earlier on Tuesday. But Portugal responded after the break and gradually got into the game, with Ronaldo's goal securing the points.

Persons: Cristiano Ronaldo, Ronaldo, Kuwait’s Bader Al, Mutawa’s, Willum Thor Willumsson, Goncalo Inacio, Victor Palsson, Hordur Magnusson, Fernando Kallas, Ken Ferris Organizations: Portugal, Iceland, Liechtenstein, 123rd, Thomson Locations: Iceland, Portugal, Slovakia, Liechtenstein

☆ Kuwait forms cabinet with new oil minister, finance minister re-appointed
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +1 min

DUBAI, June 18 (Reuters) - Kuwait formed a new government on Sunday naming Saad Al Barrak as oil minister to replace Bader Al-Mulla and reappointing Finance Minister Manaf Abdulaziz Al Hajri. Sheikh Ahmad Nawaf Al-Ahmad Al-Sabah, who was re-appointed as prime minister last week, formed the new cabinet announced in a decree carried by the state news agency KUNA. The Gulf Arab state also named a new defence minister, Sheikh Ahmad Al-Fahad Al-Ahmed Al-Sabah. The outgoing government had resigned following parliamentary elections held earlier this month in the Gulf OPEC oil producer. Reporting By Andrew Mills and Ahmed Tolba; Writing by Andrew Mills; Editing by Andrew Heavens and David EvansOur Standards: The Thomson Reuters Trust Principles.

Persons: Saad Al Barrak, Bader Al, Mulla, Manaf Abdulaziz Al Hajri, Sheikh Ahmad Nawaf Al, Ahmad Al, Sheikh Ahmad Al, Fahad Al, Ahmed Al, Andrew Mills, Ahmed Tolba, Andrew Heavens, David Evans Organizations: reappointing Finance, Thomson Locations: DUBAI, Kuwait, Sabah, Gulf OPEC

☆ The China-brokered Saudi-Iran deal has big repercussions for the Middle East — and the U.S.
▼ + stars: | 2023-03-15 | by ( Natasha Turak | ) www.cnbc.com time to read: +8 min

Taking up a specific role that the U.S. could not have fulfilled, this was Beijing's first foray into Middle East mediation, an area that for the past few decades was largely occupied by Washington. "I think China was a good partner to do this. I think they're the right people," he said, noting that China invests heavily in Saudi Arabia and is its top trading partner. Chinese President, Xi Jinping (L) is welcomed by Crown Prince of Saudi Arabia Mohammed bin Salman Al Saud (R) at the Palace of Yamamah in Riyadh, Saudi Arabia on December 8, 2022. And not just economically, as it already exports an immense amount of goods to the Middle East and is the largest importer of Saudi oil – but politically.

☆ Dairy Queen is one of Warren Buffett's most-famous businesses. CEO Troy Bader laid out the benefits of Berkshire Hathaway's ownership, and explained how he's navigating the pandemic, inflation, and ne
▼ + stars: | 2022-12-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Warren Buffett's Berkshire Hathaway acquired Dairy Queen for nearly $600 million in 1998. Dairy Queen CEO Troy Bader told Insider that Berkshire's ownership lets him invest for the long run. Bader explained how Dairy Queen has dealt with the pandemic, inflation, and new customer demands. "What he feels is really what we see with so many of our customers, who have this different connection with Dairy Queen." Higher prices, less moneyInflation is dealing a one-two punch to Dairy Queen by raising its costs and squeezing its customers, Bader said.

☆ Cristiano Ronaldo leaves World Cup in tears as chances to win title are shattered by Morocco
▼ + stars: | 2022-12-10 | by ( Ben Morse | ) edition.cnn.com time to read: +1 min

CNN —Cristiano Ronaldo left the 2022 World Cup in tears as his chances to win the tournament for the first time in his career were shattered after his Portugal team was shocked 1-0 by Morocco in the quarterfinals on Saturday. It’s likely Ronaldo’s final appearance at a World Cup as he began Portugal’s round of 16 and quarterfinal games as a substitute after being benched by the team’s coach Fernando Santos. Ronaldo’s appearance was the 196th of his Portugal career equaling Bader Al-Mutawa of Kuwait for the most caps in men’s international football history. If it is to be Ronaldo’s final appearance at a World Cup, he has certainly made his mark on the tournament over the years. In his 22 games at the finals, Ronaldo scored eight goals and earlier in this year’s tournament, the 37-year-old became the first men’s player to score in five World Cups.

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