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Saudi Arabia to raise $12 billion by selling more shares in Saudi Aramco amid Neom struggles

The sale comes amid Saudi Crown Prince Mohammed bin Salman's Vision 2030 plan to diversify the king…

Polly Thompson   


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3 mins read

Saudi Arabia spent years investing in global tech firms. Its domestic AI push hopes they'll return the favor.

The kingdom is looking to companies overseas to help it meet its AI ambitions at home after years o…

Hasan Chowdhury   


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Saudi Arabia just stepped up plans to court the world's AI leaders to its desert kingdom

The Middle East kingdom is betting big on AI as it races against the clock to diversify its economy…

Hasan Chowdhury   


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1 min read

Saudi Arabia is reportedly funding a Chinese startup that aims to take on OpenAI

A Saudi Arabian fund recently became the sole foreign investor in Zhipu AI, a Chinese startup that …

Beatrice Nolan   


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Oil giant Saudi Aramco points to lower crude prices as profits plunge 38% in the 2nd quarter

The state-run energy major reported about $30 billion in net profits last quarter, down sharply fro…

Phil Rosen   


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Saudi Aramco, the world's largest oil company, announces record profit of over $161 billion for 2022

The Saudi Arabian Oil Company, commonly referred to as Saudi Aramco, posted a record profit of $161…

Aaron McDade   


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Business Secretary Kwasi Kwarteng travelled around Saudi Arabia on flights paid by energy giant Aramco

Kwasi Kwarteng was flown around Saudi Arabia in January 2022 by majority state-owned energy firm Ar…

Henry Dyer   


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1 min read

Saudi oil giant Aramco's net income rose by 124% in 2021

The Saudi Aramco announced that its net income in 2021 rose by 124 per cent, reaching $110 billion.…

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1 min read

Saudi Aramco is reportedly considering an IPO for its trading unit as oil prices soar

Saudi Aramco's trading unit could be valued at more than $30 billion, sources told Bloomberg. The o…

Carla Mozée   


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Saudi Aramco profits soar 82% following oil price surge days after overtaking Apple as most valuable company

World's most valuable company says it is committed to ensuring affordable prices despite "increased…

Jyoti Mann   


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1 min read

Oil giant Saudi Aramco is now the world's most valuable company, bumping Apple from the top spot

Apple's market cap fell to $2.37 trillion after its share price tanked 5.2% on Wednesday. Saudi Ara…

Huileng Tan   


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Saudi Aramco, the world's largest oil exporter, has cut prices from record highs for Asia - but not for the US

China's COVID-19 lockdowns and restrictions are offsetting gains in oil prices caused by fears of R…

Huileng Tan   


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Reliance's $15 billion deal with Saudi Aramco has been called off

Consequently, the current application with the NCLT (National Company Law Tribunal) for segregat…

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Saudi Arabia's futuristic $500 billion Neom megacity just got a lot smaller ... for now, report says

The Neom megacity is part of Saudi Crown Prince Mohammed bin Salman's Vision 2030 plan to diversify…

Nathan Rennolds   


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3 mins read

Even Saudi Aramco has a lot to gain from an investment from Gautam Adani

Now, the word has it that the Adani Group has jumped into the bandwagon and is now looking to buy a…

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2 mins read

Saudi Arabia's futuristic megaprojects are so expensive that even its oil riches may not be enough

Saudi Arabia is starting to sell debt again and offload more Aramco shares to help fund projects su…

Tom Porter,Hasan Chowdhury   


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Saudi Aramco says the world is totally misreading the oil market and too focused on 'short-term economics'

The world's biggest crude producer said the oil market is focused "on short-term economics rather t…

Brian Evans   


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Saudi Aramco says the world is totally misreading the oil market and too focused on 'short-term economics'

The world's biggest crude producer said the oil market is focused "on short-term economics rather t…

Brian Evans