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Saudi king, Kuwait emir discuss regional upheavals

October 30, 2014

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Riyadh, Oct 30: Kuwait’s Emir Sheikh Sabah Al-Ahmad Al-Sabah, who wrapped up a brief visit to Riyadh, met with Custodian of the Two Holy Mosques King Abdullah and senior government officials soon after his arrival at the Riyadh airbase on Tuesday night.

Sheikh Sabah was welcomed on arrival by Crown Prince Salman, deputy premier and minister of defense, Riyadh Gov. Prince Turki bin Abdullah bin Abdul Aziz and other senior government officials.

The emir and King Abdullah discussed prospects of cooperation between the countries, in addition to the current events and developments in the region and the world at large.

The emir was accompanied by an official delegation, including First Deputy Premier and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah.

On behalf of King Abdullah, Crown Prince Salman hosted a dinner at his ranch in Diraiya on Tuesday.

Prior to the banquet, the crown prince accompanied the Kuwaiti emir in a tour of Al-Ouja Palace, during which the prince looked at several photographs and historical antiquities of the late King Abdulaziz and the city of Riyadh.

Prior to his arrival in the Kingdom, the emir expressed alarm over several countries in the region sliding into chaos due to acts of terrorism and war, adding that the situation required the people of Kuwait to stand together against mayhem and terrorism.

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News Network
April 11,2020

Dubai, Apr 11: Saudi Arabia has reported another 382 new cases of coronavirus, bringing the total number of infections in the country to 4,033, the Ministry of Health announced on Saturday.

The ministry also confirmed five more deaths from the virus, pushing the death toll in Kingdom to 52.

A total of 35 people has made full recovery from the deadly disease, taking the tally of patients recovered to 720.

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Agencies
July 31,2020

Dubai, Jul 31: The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz of Saudi Arabia tweeted early on Friday sending congratulations to everyone on Eid Al Adha.

"I congratulate everyone on the blessed Eid Al Adha. May Allah [grant us another Eid where we will be in] good, blessings, health, and wellness," King Salman said.

"We also ask [God] to accept the pilgrimage of those who completed Haj, and [to accept] Muslims' prayers, and to remove the coronavirus pandemic in our countries," he added.

King Salman left King Faisal hospital in Riyadh after recovering on Thursday, the Saudi Press Agency (SPA) reported on Thursday.

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News Network
January 12,2020

Dubai, Jan 12: Saudi Arabian oil giant Aramco announced Sunday that its initial public offering raised a record $29.4 billion, a figure higher than previously announced, after the company used a so-called "greenshoe option" to sell millions more shares to meet investor demand.

The company said that the sale of an additional 450 million shares took place during the initial public offering process.

The oil and gas company, which is majority owned by the state, began publicly trading on the local Saudi Tadawul exchange on December 11. It hit hit upwards of $10 a share on the second day of trading. This gave Aramco a market capitalization of $2 trillion, making it comfortably the world's most valuable company.

Aramco's additional sales mean the company has publicly floated 1.7% of its shares. It's IPO, even before the added sales, was the world's largest ever.

The shares sold in the over-allotment option "had been allocated to investors during the book-building process and therefore, no additional shares are being offered into the market today," Aramco said.

Company shares traded down on Sunday, dipping to around 34.7 riyals, or $9.25 a share, amid heightened tensions in the Persian Gulf between Iran and the United States. Aramco was a target of rising tensions over the summer when a missile and drone attack, which Saudi Arabia and the US blame on Iran, temporarily halved its production.

Sunday's trading figures value Aramco at $1.85 trillion, still well ahead of Apple, the second largest company in the world after Aramco, but below the $2 trillion mark sought by Crown Prince Mohammed bin Salman.

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