Saudi Arabia

RIYADH, Dec 23 (NNN-BERNAMA-ANADOLU) — A Saudi court has sentenced five people to death for taking part in the murder of prominent journalist Jamal Khashoggi, reported Anadolu Agency, citing the kingdom’s public prosecutor Monday.

Speaking at a press conference, Saud bin Abdullah Al-Muajab said former royal adviser Saud al-Qahtani and the former consul in Istanbul Mohammed al-Oteibi were not charged in the killing.

21 Dec 2019; MEMO: A Saudi court decided to initiate a new series of hearings against prominent sheikhs, Salman Al-Ouda and Awad Al-Qarni.

RIYADH, Saudi Arabia (AP) — Saudi Arabian oil company Aramco surpassed Apple as the world’s most valuable public company Wednesday when its shares made their debut on the Saudi stock exchange, part of an ambitious shift away from the very fossil fuels the country’s economy depends on.

The shares’ 10% rally brought state-owned Aramco’s value to $1.88 trillion. The 1.5% of the company that is listed has raised $25.6 billion, a record for an initial public offering. As of Tuesday’s close in the U.S., Apple was valued at $1.19 trillion.

RIYADH/DUBAI (Reuters) - Saudi Aramco (2222.SE) shares surged the maximum permitted 10% above their IPO price on their Riyadh stock market debut on Wednesday, in a move hailed by the government as a vindication of its towering $2 trillion valuation of the state oil company.

The shares leapt to 35.2 riyals ($9.39) each, up from the initial public offering (IPO) price of 32 riyals and at the daily limit of price moves allowed by the Tadawul exchange.

10 Dec 2019; MEMO: Saudi Arabia and Iran signed on Monday an agreement regarding arrangements for the next Hajj season of 1441 AH, after talks between the two sides.

The Saudi Press Agency (SPA) reported that the Minister of Hajj and Umrah Muhammad Saleh bin Taher Benten held a meeting in Mecca with the head of Iran’s Hajj and Pilgrimage Organisation, Ali Reza Rashidian, to discuss arrangements and preparations for the service of Iranian pilgrims during the Hajj season 1441 AH.

09 Dec 2019; MEMO: Restaurants in Saudi Arabia will no longer need to maintain entrances segregated by sex, the authorities said on Sunday, further eroding some of the world’s strictest social rules as sweeping reforms take hold.

Previously, Saudi Arabia required all restaurants to have one entrance for families and women, and another for men on their own. The ministry of municipalities and rural affairs announced on Twitter this would no longer be mandatory.

07 Dec 2019; MEMO: Saudi foreign minister, Adel Al-Jubeir, announced on Friday that all Yemenis including the Houthis, could have a role in the future of the country, news agencies reported.

RIYADH (Reuters) - The institutional tranche of Saudi Aramco’s planned initial public offering (IPO) has been almost three times oversubscribed, receiving orders worth 189.04 billion riyals ($50.4 billion), financial advisers for the IPO said on Tuesday.

The bookbuilding process for allocating shares to institutional buyers - typically asset managers, insurers or pension funds - began on Nov. 17 and investors have until 1700 Saudi time on Dec. 4 to place orders.

Aramco plans to sell 1.5% of its shares in a deal that could raise up to $25.6 billion.

02 Dec 2019; MEMO: Saudi Arabia’s State General Reserve Fund fell from 496.04 billion Saudi riyals, in September, to 490.06 billion Saudi riyals ($130.7 billion), in October, marking a decline of nearly six billion Saudi riyals.

The surplus in the budget revenues is conventionally transferred to the State General Reserve Fund. It may be withdrawn only by a Royal Decree, in cases of extreme necessity relating to the higher interests of the State.

Riyadh, Dec 1 (AFP/PTI) 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 Khashoggi.