Saudi Aramco says to offer shares worth over $10 billion on Saudi bourse

Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than $10 billion. (Aramco)
Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than $10 billion. (Aramco)
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Updated 30 May 2024
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Saudi Aramco says to offer shares worth over $10 billion on Saudi bourse

Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than $10 billion. (Aramco)
  • It is the firm’s second listing after an initial public offering in December 2019 that raised $25.6 billion

RIYADH: Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than $10 billion, one of the biggest such offerings in recent years.
In a statement posted to the Saudi stock exchange, Aramco announced a “secondary public offering of 1.545 billion shares,” with an expected price range between 26.70 and 29 Saudi riyals ($7 to $7.70).
The sale on the local bourse, which represents approximately 0.64 percent of the company’s issued shares, will commence on Sunday, Aramco said.
It is the firm’s second listing after an initial public offering in December 2019 that raised $25.6 billion, the biggest flotation in history.
Saudi Arabia is the world’s largest crude oil exporter and, before the announcement on Thursday, the government owned about 82 percent of its shares.


Trudeau promised Trump tougher border controls, says top Canada official

Trudeau promised Trump tougher border controls, says top Canada official
Updated 22 min 36 sec ago
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Trudeau promised Trump tougher border controls, says top Canada official

Trudeau promised Trump tougher border controls, says top Canada official
  • Trump said on Saturday he discussed the border, trade and energy in a “very productive” meeting with Trudeau

OTTAWA: Canadian Prime Minister Justin Trudeau promised President-elect Donald Trump that Canada would toughen controls over the long undefended joint border, a senior Canadian official said on Sunday. Trudeau flew to Florida on Friday to have dinner with Trump, who has promised to slap tariffs on Canadian imports unless Ottawa prevents migrants and drugs from crossing the frontier.
Canada sends 75 percent of all goods and services exports to the United States and tariffs would badly hurt the economy.
Public Safety Minister Dominic LeBlanc, who sat at the head table with Trudeau and Trump, said the two men discussed additional security measures Canada would be introducing.
“We’re going to look to procure, for example, additional drones, additional police helicopters, we’re going to redeploy personnel ... we believe that the border is secure,” he told the Canadian Broadcasting Corp.
“It’s important, I think, to show Canadians and the Americans that we’re stepping up in a visible and muscular way, and that’s exactly what we’re going to do,” he added, promising more details in the days and weeks to come.
Canada, he said, would continue to make the case that tariffs would damage both nations, given how interconnected the two economies are.
“I’m confident that the Americans will understand that it’s not in their interest ... to proceed in this way,” he said, describing the dinner meeting as very warm and cordial.
Trump said on Saturday he discussed the border, trade and energy in a “very productive” meeting with Trudeau.
The friendly nature of the dinner contrasts with previous exchanges between the two men.
Trump called Trudeau “a far left lunatic” in 2022 for requiring truck drivers crossing the border to be vaccinated against COVID. In June 2018, Trump walked out of a G7 summit in Quebec and blasted Trudeau for being “very dishonest and weak.”
At the end of the dinner, LeBlanc said, Trump walked Trudeau to his car and said “Keep in touch. Call me anytime. Talk soon.”


Liverpool pile on misery for Man City, Man Utd boss Amorim earns first Premier League win

Liverpool pile on misery for Man City, Man Utd boss Amorim earns first Premier League win
Updated 47 min 33 sec ago
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Liverpool pile on misery for Man City, Man Utd boss Amorim earns first Premier League win

Liverpool pile on misery for Man City, Man Utd boss Amorim earns first Premier League win
LONDON: Liverpool piled on the misery for Manchester City as the Premier League leaders beat the troubled champions 2-0 at Anfield, while Manchester United boss Ruben Amorim earned his first league win with a 4-0 rout of Everton on Sunday.
Arne Slot’s side moved nine points clear of second-placed Arsenal after Cody Gakpo’s first-half opener and Mohamed Salah’s late penalty dealt another blow to reeling City, who are languishing 11 points behind Liverpool in fifth place.
City have lost four successive top-flight games for the first time since 2008, making them the first Premier League champions to endure such a dismal run the season after claiming the title.
City have clawed back significant deficits to win the Premier League in the Guardiola era, but they have never managed to lift the title after being behind by more than 10 points.
City’s seven-game winless run ranks as boss Pep Guardiola’s longest barren streak in his glittering managerial career.
Just weeks after he signed a new two-year contract, Liverpool fans taunted Guardiola with chants of “you’re getting sacked in the morning,” prompting a defiant response from the Spaniard, who held up six fingers to illustrate the number of titles he has won with City.
“The first 20 minutes Liverpool were unstoppable. We tried to play with a lot of control and passes, but it was difficult to take it,” Guardiola said.
“We’ll reset and start from zero. It is difficult to believe it. I rely a lot on these players. We’ll see what happens by the end of the season.”
Liverpool have won 18 of their 20 games in all competitions since Slot replaced Jurgen Klopp in the close-season.
With 11 victories from their 13 Premier League matches, Liverpool are firm favorites to win the title for the first time since 2020.
“We came close to perfection. That’s the only way to beat a quality team like City,” Slot said.
“We have to stay sharp. I don’t think anyone, including me, would have predicted this — to win so much with all the difficult teams we have played already.”
City’s defense was in disarray right from the start and when Salah curled a 12th minute shot toward the far post, Gakpo pounced to poke home from virtually on the line.
Salah’s 78th-minute penalty, awarded for keeper Stefan Ortega’s foul on Luis Diaz, was a dagger in the heart of City’s title hopes.
Amorim stole the spotlight in Sunday’s early games by extending his unbeaten start with United to three matches.
United were held to a 1-1 draw at Ipswich in his first Premier League game last Sunday, before the Portuguese boss earned his maiden win with United in a 3-2 success against Bodo/Glimt in the Europa League on Thursday.
The 39-year-old, who arrived from Sporting Lisbon to replace the sacked Erik ten Hag in November, has warned United would “suffer for a long period” before they can expect to challenge for the title.
This was the most encouraging result of Amorim’s brief time at ninth-placed United.
Marcus Rashford’s 34th-minute drive from the edge of the area took a deflection off Jarrad Branthwaite before flashing into the net.
United struck again seven minutes later as Branthwaite lost possession to Amad Diallo and Bruno Fernandes teed up Joshua Zirkzee to convert with ease.
Rashford underlined United’s superiority just 20 seconds after the interval as he applied a cool finish to Diallo’s incisive pass, before Zirkee struck again in the 64th minute with a composed strike.
“The result was good but we were pragmatic. It was not pretty,” Amorim said. “It is a rollercoaster. We have some moments when we are good but then we have moments when we have to suffer.”
At Stamford Bridge, Chelsea extended their unbeaten run in all competitions to six games with a 3-0 win against Aston Villa, whose dismal winless streak reached eight matches.
Enzo Maresca’s men look capable of securing Champions League qualification after a third successive win in the space of eight days moved them level on points with second-placed Arsenal.
Nicolas Jackson and Enzo Fernandez scored in the first half before Cole Palmer struck in the closing stages.
Seventh-placed Tottenham’s top-four hopes were dented by a 1-1 draw against 10-man Fulham.
Brennan Johnson slotted Tottenham into the lead from Timo Werner’s 54th-minute pass, but Tom Cairney curled Fulham’s equalizer into the far corner after 67 minutes.
Cairney was sent off with seven minutes left after his foul on Dejan Kulusevski was upgraded from referee Darren Bond’s initial yellow card to a red after VAR intervened.

Trailer released for Usyk-Fury heavyweight rematch in Saudi Arabia

Trailer released for Usyk-Fury heavyweight rematch in Saudi Arabia
Updated 46 min 34 sec ago
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Trailer released for Usyk-Fury heavyweight rematch in Saudi Arabia

Trailer released for Usyk-Fury heavyweight rematch in Saudi Arabia
  • Countdown to fight officially underway

RIYADH: The countdown to December’s hotly anticipated heavyweight rematch between Oleksandr Usyk and Tyson Fury is officially underway following the release of a new cinematic trailer titled “The Obsession.”

Unveiled on Sunday by Turki Alalshikh, chairman of the General Entertainment Authority, the promo film sets the tone for the “Reignited” bout scheduled for Dec. 21 at Riyadh’s Kingdom Arena as part of Riyadh Season.

The clip is set to Kylie Minogue’s smash hit “Can’t Get You Out of My Head” and showcases surreal moments as the rival heavyweights imagine each other everywhere during their daily lives.

From Fury seeing his family transformed into Usyk lookalikes to Usyk envisioning Fury on a sausage — a nod to Fury’s trademark taunts — the promo highlights the fighters’ lighthearted but intense rivalry.

Their rematch follows their electrifying first bout in May, in which Usyk made history as the 21st century’s first undisputed heavyweight champion.

The clip was developed by BigTime Creative Shop in collaboration with the award-winning French collective Megaforce and Riff Raff Films.


Amorim earns 1st Premier League win, Chelsea climb to 3rd place

Amorim earns 1st Premier League win, Chelsea climb to 3rd place
Updated 01 December 2024
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Amorim earns 1st Premier League win, Chelsea climb to 3rd place

Amorim earns 1st Premier League win, Chelsea climb to 3rd place
  • This was the most encouraging result of Amorim’s brief time at United as they recovered from a slow start to dispatch lowly Everton

LONDON: Manchester United boss Ruben Amorim earned his first Premier League win with a 4-0 rout of Everton.

Chelsea climbed to third place with a 3-0 win against spluttering Aston Villa.

United were held to a 1-1 draw at Ipswich in his first Premier League game last Sunday, before the Portuguese boss earned his maiden win with United in a 3-2 success against Bodo/Glimt at Old Trafford in the Europa League on Thursday.

The 39-year-old, who arrived from Sporting Lisbon to replace the sacked Erik ten Hag in November, has warned United would “suffer for a long period” before they can expect to challenge for the title.

This was the most encouraging result of Amorim’s brief time at United as they recovered from a slow start to dispatch lowly Everton.

United fans had gathered on the Old Trafford forecourt before kick-off to protest the clubs’ decision to increase ticket prices, displaying a banner with the slogan “Stop Exploiting Loyalty.”

If ninth-placed United are to justify those increases, they need a winning team and Amorim is taking steps in the right direction.

Marcus Rashford had scored the first goal of Amorim’s reign after just two minutes at Ipswich and he was on target again in the 34th minute against Everton.

Rashford’s drive from the edge of the area took a deflection off Jarrad Branthwaite before flashing into the net.

United struck again seven minutes later as Amorim’s decision to select Zirkzee to lead the attack instead of Rasmus Hojlund.

Branthwaite lost possession to Amad Diallo and Bruno Fernandes teed up Joshua Zirkzee to convert with ease.

The much-maligned Netherlands striker’s second goal since his close-season move from Bologna ended a 17-game drought dating back to August.

Rashford underlined United’s superiority just 20 seconds after the interval as he applied a cool finish to Diallo’s incisive pass for his seventh goal this season.

Zirkee struck again in the 64th minute with a composed strike from the influential Diallo’s assist after shambolic Everton defending.

At Stamford Bridge, Chelsea extended their unbeaten run in all competitions to six games as Villa’s dismal winless streak reached eight matches.

Chelsea boss Enzo Maresca insisted this week that his young team are not title contenders in the first season of his rebuilding job.

But they look capable of at least securing Champions League qualification after a third successive win in the space of eight days moved them level on points with second-placed Arsenal.

The famous Champions League victory over Bayern Munich in October feels like a distant memory for 12th placed Villa, who have won only once in the Premier League since then.

Nicolas Jackson put Chelsea in front after just seven minutes with his eighth goal this season.

The Senegal striker met Marc Cucurella’s cross with a volley from eight yards that beat Villa keeper Emiliano Martinez via the near post.

Villa appealed in vain for a foul by Cucurella on Jaden Philogene in the build-up to the goal.

Enzo Fernandez added to Villa’s frustration in the 36th minute as the midfielder took a clever touch before firing home from 12 yards.

Cole Palmer grabbed his eighth goal this season with a superb finish from the edge of the area in the 83rd minute.

Seventh-placed Tottenham’s top four hopes were dented by a 1-1 draw against 10-man Fulham.

Brennan Johnson slotted Tottenham into the lead from Timo Werner’s 54th minute pass, but Tom Cairney curled Fulham’s equalizer into the far corner after 67 minutes.

Cairney was sent off with seven minutes left after his foul on Dejan Kulusevski was upgraded from referee Darren Bond’s initial yellow card to a red after VAR intervened.


Saudi envoy attends Palestine solidarity event at Arab League HQ in Cairo

Saudi envoy attends Palestine solidarity event at Arab League HQ in Cairo
Updated 01 December 2024
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Saudi envoy attends Palestine solidarity event at Arab League HQ in Cairo

Saudi envoy attends Palestine solidarity event at Arab League HQ in Cairo
  • Organization’s secretary-general: Israel making life for Palestinians ‘impossible’
  • International Day of Solidarity with the Palestinian People organized by UN since 1977

RIYADH: Saudi Arabia’s permanent representative to the Arab League, Abdulaziz bin Abdullah Al-Matar, attended an event marking the International Day of Solidarity with the Palestinian People at the organization’s headquarters in Cairo on Sunday. 

Philippe Lazzarini, head of the UN Relief and Works Agency for Palestine Refugees, also attended, as did Saeed Abu Ali, an assistant on the Palestinian issue to Arab League Secretary-General Ahmed Aboul Gheit, among other Arab ministers and officials. 

They confirmed full solidarity with the Palestinian people’s struggle to achieve their legitimate rights of freedom and independence, the Saudi Press Agency reported. 

Aboul Gheit said Israeli actions in the Occupied Territories aim “at ending the Palestinian presence, liquidating the project of the Palestinian state, and forced displacement, by making the life of Palestinian society ... impossible.” 

The Arab League honored UNRWA during a ceremony for its vital work in delivering aid and securing shelter for Palestinians in the Gaza Strip.

The International Day of Solidarity with the Palestinian People has been organized by the UN since 1977.

Events worldwide, including at the UN headquarters in New York, are planned yearly on Nov. 29.