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.
Saudi Aramco says to offer shares worth over $10 billion on Saudi bourse
https://arab.news/6mjwx
Saudi Aramco says to offer shares worth over $10 billion on Saudi bourse
- It is the firm’s second listing after an initial public offering in December 2019 that raised $25.6 billion
Haiti blasts comments from France’s Macron as ‘unfriendly and inappropriate’
PORT-AU-PRINCE: Haitian Foreign Minister Harvel Jean-Baptiste on Thursday met with French Ambassador Antoine Michon over what the ministry branded as “unfriendly and inappropriate” comments from the French president as he left the G20 summit in Brazil.
French President Emmanuel Macron had on Wednesday called the decision of the Carribean country’s transitional presidential council to oust the prime minister earlier this month as “completely dumb.”
NATO says new Russian missile will not alter course of Ukraine war
BRUSSELS: The experimental hypersonic intermediate-range missile Russia fired at Ukraine will not affect the course of the war nor NATO’s backing for Kyiv, a spokesperson for the US-led defense alliance said on Thursday.
“Deploying this capability will neither change the course of the conflict nor deter NATO Allies from supporting Ukraine,” said spokesperson Farah Dakhlallah, calling the launch “yet another example of Russia’s attacks against Ukrainian cities.”
Putin hints at strikes on West in ‘global’ Ukraine war
- Warns of retaliation after Ukraine’s allies granting permission for Kyiv to use Western-supplied weapons to strike targets on Russian territory
- Putin spoke after Russia test-fired a new generation intermediate-range missile at Ukraine, hinting that was capable of unleashing a nuclear payload
- Washington saw no need to modify the United States’ own nuclear posture in response, says White House spokesperson
DNIPRO, Ukraine: Russian President Vladimir Putin said Thursday that the conflict in Ukraine had characteristics of a “global” war and did not rule out strikes on Western countries.
The Kremlin strongman spoke out after a day of frayed nerves, with Russia test-firing a new generation intermediate-range missile at Ukraine — which Putin hinted was capable of unleashing a nuclear payload.
Ukraine’s President Volodymyr Zelensky branded the strike a major ramping up of the “scale and brutality” of the war by a “crazy neighbor,” while Kyiv’s main backer the United States said that Russia was to blame for escalating the conflict “at every turn.”
Intermediate-range missiles typically have a reach of up to 5,500 kilometers (3,400 miles) — enough to make good on Putin’s threat of striking the West.
In a defiant address to the nation, Russia’s president railed at Ukraine’s allies granting permission for Kyiv to use Western-supplied weapons to strike targets on Russian territory, warning of retaliation.
In recent days Ukraine has fired US and UK-supplied missiles at Russian territory for the first time, escalating already sky-high tensions in the brutal nearly three-year-long conflict.
“We consider ourselves entitled to use our weapons against the military facilities of those countries that allow their weapons to be used against our facilities,” Putin said.
He said the US-sent Army Tactical Missile System (ATACMS) and British Storm Shadow payloads were shot down by Moscow’s air defenses, adding: “The goals that the enemy obviously set were not achieved.”
Kremlin spokesman Dmitri Peskov did, however, say Moscow informed Washington of the missile’s launch half an hour before it was fired through an automatic nuclear de-escalation hotline, in remarks cited in state media.
He earlier said Russia was doing everything to avoid an atomic conflict, having updated its nuclear doctrine this week.
White House spokeswoman Karine Jean-Pierre told reporters that Washington saw no need to modify the United States’ own nuclear posture in response.
Ukraine had earlier accused Russia of firing an intercontinental ballistic missile (ICBM) for the first time in history — a claim later downplayed by Washington.
The Ukrainian air force said Moscow had launched the missile as part of a barrage toward Dnipro, where local authorities said an infrastructure facility was hit and two civilians were wounded.
Putin said that Russia had carried out “testing in combat conditions of one of the newest Russian... missile systems” named “Oreshnik.”
Criticizing the global response to the strike — “final proof that Russia definitely does not want peace” — Zelensky warned that other countries could become targets for Putin too.
“It is necessary to urge Russia to a true peace, which is possible only through force,” the Ukrainian leader said in his evening address.
“Otherwise, there will be relentless Russian strikes, threats and destabilization, and not only against Ukraine.”
The attack on Dnipro comes just days after several foreign embassies shuttered temporarily in the Ukrainian capital, citing the threat of a large-scale strike.
“It is another example of reckless behavior from Russia,” a spokesman for British Prime Minister Keir Starmer told reporters.
The spokesman for UN Secretary-General Antonio Guterres, Stephane Dujarric, said the new missile’s deployment was “another concerning and worrying development,” warning the war was “going in the wrong direction.”
Yet a US official played down the threat, saying on condition of anonymity that Russia “likely possesses only a handful of these” experimental missiles.
The head of the Dnipropetrovsk region where the city of Dnipro is located said the Russian aerial bombardment damaged a rehabilitation center and several homes, as well as an industrial enterprise.
“Two people were wounded — a 57-year-old man was treated on the scene and a 42-year-old woman was hospitalized,” said the official, Sergiy Lysak.
Russia and Ukraine have escalated their use of long-range missiles in recent days since Washington gave Kyiv permission to use its ATACMS against military targets inside Russia — a long-standing Ukrainian request.
British media meanwhile reported on Wednesday that Kyiv had launched UK-supplied Storm Shadow missiles at targets in Russia after being given the green light from London.
With ranges of 300 and 250 kilometers respectively, both missile systems’ reach is far dwarfed by the experimental intermediate-range system fired by Russia.
Russia’s envoy to London on Thursday said that meant Britain was “now directly involved” in the Ukraine war, with Andrei Kelin telling Sky News “this firing cannot happen” without UK and NATO support.
But the White House’s Jean-Pierre countered that it was Russia who was behind the rising tensions, pointing to the reported deployment of thousands of North Korean troops to help Moscow fight off a Ukrainian offensive in Russia’s border Kursk region.
“The escalation at every turn is coming from Russia,” Jean-Pierre said, adding that the United States had warned Moscow against involving “another country in another part of the world” — referring to Pyongyang.
The defense ministry in Moscow said Thursday its air-defense systems had downed two Storm Shadows, without saying whether they had come down on Russian territory or in occupied Ukraine.
The missile escalation is coming at a critical moment on the ground for Ukraine, as its defenses buckle under Russian pressure across the sprawling front line.
Russia claimed deeper advances in the war-battered Donetsk region, announcing on Thursday that its forces had captured another village close to Kurakhove, closing in on the town after months of steady advances.
Moscow’s defense ministry said Russian forces had taken the small village of Dalne, five kilometers (three miles) south of Kurakhove.
Lysak, the governor of the Dnipropetrovsk region, said that 26 people had been wounded in another strike on the town of Kryvyi Rig, where Zelensky was born.
Snap launches new office, first hub for creators in Saudi Arabia
- Diriyah’s JAX District is location for platform
- Move will support partnership with Kingdom’s Ministry of Culture
DUBAI: Snap is expanding its presence in Saudi Arabia with the launch of a new office and the Kingdom’s first creator hub, named Majlis Snap for Content Creators, in Diriyah’s JAX District, near Riyadh.
Majlis Snap for Content Creators will serve as a platform to grow and support the local creator community through training, educational programs and opportunities for collaboration.
The opening ceremony of the new office was attended by Evan Spiegel, co-founder and CEO of Snap Inc.; Saudi Minister of Investment Khalid Al-Falih; and Saudi Minister of Communications and Information Technology Abdullah Al-Swaha.
The event featured a conversation between Spiegel and Jomana Al-Rashid, the CEO of the Saudi Research and Media Group, about Snap’s growth and popularity in the Kingdom.
Spiegel also hosted exclusive sessions with content creators to commemorate the launch of Majlis Snap for Content Creators.
The establishment of the new office will support Snap’s partnership with Saudi Arabia’s Ministry of Culture by upskilling local talent.
Abdulla Alhammadi, managing director of Snap Inc. in Saudi Arabia, said that the Kingdom was one of the company’s “most dynamic growth markets” and the investment would “enhance the experience” of both Snapchat users and advertisers.
Hussein Freijeh, the vice president of Snap Inc. in the Middle East and North Africa region, said that the company’s expansion in Saudi Arabia “symbolizes more than just a physical presence,” and represented “a deeper commitment to enhancing Saudi Arabia’s digital ecosystem.”
He added: “This marks a huge milestone in our journey in KSA, and we look forward to strengthening our connection with Saudi partners and clients, in line with the country’s digital transformation agenda.”
Snapchat has 25 million active monthly users in the Kingdom, reaching 90 percent of those aged between 13 and 34, with users opening it 50 times a day on average.
Kingdom’s defense minister meets Swedish minister, officials for talks on Saudi-Swedish ties
- Discussions focused on bolstering cooperation between Saudi Arabia and Sweden
RIYADH: Saudi Arabia’s minister of defense, Prince Khalid bin Salman, met Johan Stuart, minister of state at the Swedish Prime Minister’s office, in Riyadh on Thursday.
They discussed ways in which relations and cooperation between their countries might be enhanced, along with other issues of mutual interest, the Saudi Press Agency reported.
Other Saudi officials present during the discussions included Lt. Gen. Fayyad Al-Ruwaili, chief of the general staff of the Kingdom’s armed forces, and Hisham bin Abdulaziz bin Saif, director general of the defense minister’s office.
The Swedish minister was accompanied by a delegation that included Bjorn Kalvakov, charge d’affaires of the Swedish Embassy in Riyadh, and Sophie Becker, deputy head of the Middle East and North Africa department at Sweden’s Ministry of Foreign Affairs.