Middle East

Riyadh, Dec 6: State-owned oil giant Saudi Aramco’s initial public offering (IPO) will be the biggest in history, but will fall short of the towering USD 2 trillion valuation long sought by Crown Prince Mohammed bin Salman. Aramco priced its IPO at 32 riyals (USD 8.53) per share, the top of its indicative range, the company said in a statement, raising USD 25.6 billion and beating Alibaba Group

Riyadh, Dec 1: Saudi Arabia became the first Arab nation Sunday to take over the G20 presidency as it seeks to bounce back onto the world stage following global uproar over its human rights record. The oil-rich kingdom has promoted a liberalisation drive, including granting greater rights to women, but faced strong criticism over a crackdown on dissent and the murder last year of journalist Jamal

Nasiriyah, Nov 29: Iraq crackdown kills nearly 40 after Iran mission torched Nasiriyah (Iraq), Nov 29 (AFP) Iraq's protest-hit cities saw one of their bloodiest days yet as a government crackdown killed nearly 40 demonstrators following the dramatic torching of an Iranian consulate. The country's capital and south have been rocked by the worst street unrest since the 2003 US-led invasion that

Dubai/Abu Dhabi, Nov 27: The sovereign wealth funds of Abu Dhabi and Kuwait plan to invest in the initial public offering (IPO) of Saudi Aramco, which is relying mainly on Saudi and Gulf investors to raise up to $25.6 billion, sources familiar with the matter said. Abu Dhabi Investment Authority (ADIA) is weighing an investment of at least $1 billion, five sources familiar with the matter told

Dubai, Nov 23: Domestic helps aged over 60 can now get their labour contracts renewed under certain conditions, the Ministry of Human Resources and Emiratisation (MoHRE) has announced. Spelling out the three conditions for this, Khalil Al Khouri, assistant undersecretary, MoHRE, said: "They should be medically fit, all charges need to be paid by the employer and all the entities concerned must

Nov 21: Saudi Arabia's King Salman urged arch-rival Iran on Wednesday to abandon an expansionist ideology that has "harmed" its own people, following violent street protests in the Islamic republic. A wave of demonstrations erupted in the sanctions-hit country on Friday after an announcement that petrol prices would be raised by as much as 200 per cent with immediate effect. "We hope the Iranian

Dubai, Nov 20: After long summer months of dry spells, the Gulf region now faces unstable weather, with rain storms predicted this week. Schools in the United Arab Emirates were to be shut on Wednesday due to bad weather and poor road conditions, the UAE Ministry of Education earlier announced on Tuesday. Images of flooded roads and lighting bloats were shared on social media by affected residents

Riyadh, Nov 17: Saudi Arabia on Sunday put a value of up to $1.71 trillion on energy giant Aramco in what could be the world's biggest IPO, but missed Crown Prince Mohammed bin Salman's initial target of $2 trillion. Aramco said it would sell 1.5 percent of the company in a blockbuster initial public offering worth at least $24 billion. "The base offer size will be 1.5 percent of the company's

Dubai, Nov 15: Iran introduced gasoline rationing and price hikes on Friday with an official saying that the revenue would be used for subsidies for 18 million needy families, state television reported. Iran, which has some of the world’s cheapest fuel prices due to heavy subsidies and the fall of its currency, has been fighting rampant fuel smuggling to neighbouring countries. State TV said the

Saudi, Nov 13: A 2-year-old passenger on a Saudi Arabian Airlines plane that made an emergency landing in eastern Canada on Tuesday was pronounced dead on arriving in a hospital, a provincial police official said. Flight 35, which left Jeddah, Saudi Arabia, at 6:45 am local time on Tuesday and was bound for Washington, DC, landed shortly before 12 pm ET at the St. John's International Airport, in