United Kingdom and Saudi Arabia to together boost economies in developing countries

Adjust Comment Print

Saudi Aramco had planned to begin trading on the country's domestic stock market - the Tadawul - and one or more foreign exchanges in the second half of 2018.

The likely delay was communicated by Saudi officials to their counterparts in the United Kingdom, the Financial Times reported Sunday.

"My fear is that they are not prepared for this new world", Floris Ansingh, a former head of Royal Dutch Shell in Saudi Arabia, said of Aramco.

It is worth noting that MBS' delegation in London included Saudi Arabia's Oil Minister Khalid al-Falih and Aramco's Chief Executive Amin Nasser.

The powerful crown prince, who has consolidated his grip on various sectors in Saudi Arabia since his appointment in June, is overseeing the kingdom's plan to sell under five percent of the state-owned oil giant.

Officials and advisers involved in the process have also explored the possibility of not taking Aramco public at all.

Neymar Jr May Have Played His Last Game For PSG
Neymar has netted 28 goals for the Les Blues after becoming the world's most expensive player in 2017. The Brazilian also retains high hopes for his national team in Russian Federation .

Mordaunt said: "By building critical infrastructure for some of the world's poorest whose lives are threatened by drought, disease and conflict, together we can make a bigger difference and ensure that everyday tasks like collecting drinking water are made much easier".

The report published by PwC Middle East on the occasion of International Women's Day titled "Women driving the transformation of KSA automotive market", looks into key opportunities for the automotive market in Saudi Arabia, that can be summarized in four key areas.

That could mean US$13.6 billion could come into Saudi stocks from passive investors and if active investors also increased their Saudi exposure to the weighting following an Aramco IPO the total inflows could be US$68 billion.

Financial advisers and associates of the detainees have told the New York Times that numerous assets of those detained have yet to be seized and most of those already seized are domestic real estate and shares of companies that could take years to liquidate.

In addition, while some Saudi officials - reportedly including Prince Salman himself - are said to favour a listing on the NY exchange, others involved in the process have said that a presence in the United States could expose the kingdom to lawsuits.

Sources have told Reuters it requires a bourse at least six month to prepare for a listing so a decision would need to be taken in April for the IPO to go ahead this year.

Comments