More than 220 dead in Daesh attacks on southern Syria: Monitor

Agencies
July 26, 2018

Beirut, Jul 26: A string of suicide blasts and raids claimed by the Daesh group killed more than 220 people in southern Syria on Wednesday, in one of the militants’ deadliest ever assaults in the country.

The Syrian Observatory for Human Rights said the attacks hit several areas of the largely government-held southern province of Sweida, where Daesh retains a presence in a northeastern desert region.

They came almost a week into a deadly Russia-backed regime campaign to oust Daesh fighters from a holdout in a neighboring province of the country’s south.

Daesh claimed responsibility for the violence, saying “soldiers of the caliphate” attacked Syrian government positions and security outposts in Sweida city, then detonated their explosive belts.

The Britain-based Observatory said three suicide attackers set off booby-trapped belts in Sweida city, as other blasts hit villages to the north and east. A fourth suicide explosion hit the city later.

“Daesh fighters then stormed villages in the province’s northeast and killed residents in their homes,” Observatory head Rami Abdel Rahman said.

The suicide blasts and raids killed around 220 people including around 100 civilians, the Observatory said.

The remaining dead were pro-regime fighters, most of whom where residents who had picked up weapons to defend their villages, it said.

Sweida, whose residents are mostly from the Druze minority, has been relatively insulated from the war that has ravaged the rest of the country since 2011.

“It’s the bloodiest death toll in Sweida province since the start of the war” in 2011 and one of the deadliest ever in Syria, Abdel Rahman said.

The violence also left 30 Daesh fighters dead, including the suicide attackers.

The militants captured at least three of the seven villages they targeted but clashes were ongoing Wednesday, the Observatory said.

State media confirmed the attacks had killed and wounded people in Sweida city and villages to the north and east, but did not give a specific toll.

SANA published images of the attack’s aftermath in Sweida city, showing the remains of a victim sprawled on a staircase near a damaged wall.

Abandoned shoes lay in the middle of the road among fruit that had spilled out of cartons.

The UN’s humanitarian coordinator in Syria Ali Al-Zaatari condemned the “terrorist bombing in Sweida city today,” saying all civilians should be protected.

And the Russian foreign ministry said the Daesh attacks “confirm the need for energetic and coordinated efforts by the international community to eradicate this universal evil from Syrian territory.”

State television said the army was targeting Daesh in the province’s east.

Despite pro-government forces ousting the group from urban centers in eastern Syria last year, surprise Daesh raids in recent months have killed dozens of regime and allied fighters.

The militants still hold some territory in Syria’s south, including in Sweida and another isolated but larger patch in neighboring Daraa province, to the west.

That pocket is held by Jaish Khaled bin Al-Walid, a terrorist faction whose 1,000 fighters have pledged allegiance to Daesh.

After ousting non-militant rebels from most of the country’s south, President Bashar Assad’s troops and his Russian allies are now closing in on the Daesh pocket in Daraa province.

SANA said the Daesh attacks on neighboring Sweida were an attempt to relieve pressure “on militant remnants facing their inevitable end in the western Daraa countryside.”

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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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Agencies
March 15,2020

Riyadh, Mar 15: Saudi Aramco on Sunday reported a 20.6 percent drop in its net profit for 2019 due to low oil prices and production levels, the company said in a statement.

These are the first annual results to be announced by the energy giant after its historical $29.4 billion initial public offering and listing on the Saudi Tadawul market last December.

Aramco posted net profits of $88.2 billion last year compared to $111.1 billion in 2018, Monday's statement said.

"The decrease was primarily due to lower crude oil prices and production volumes, coupled with declining refining and chemical margins," it said.

The company also made $1.6 billion of impairment provisions for losses associated with Sadara Chemical Company, an Aramco subsidiary.

"2019 was an exceptional year for Saudi Aramco. Through a variety of circumstances -- some planned and some not -- the world was offered unprecedented insight into Saudi Aramco's agility and resilience," CEO Amin Nasser said.

"Our unique scale, low costs, and resilience came together to deliver both growth and world-leading returns, while also maintaining our position as one of the world's most reliable energy companies," Nasser said.

The earnings for last year are not affected by the coronavirus outbreak or the ongoing price war between Saudi Arabia and Russia that has sent oil prices crashing.

Aramco said it will distribute dividends worth $73.2 billion for 2019 but based on its commitments under the IPO, its dividends for the next five years starting this year will be at least $75 billion.

It said its capital spending last year dropped to $32.8 billion from $35.1 billion in 2018.

The company expects capital spending, which is expenditure on projects, to be between $25 billion and $30 billion this year "in light of current market conditions and recent commodity price volatility."

But it said that capital expenditure for 2021 and beyond is currently under review.

The results were announced amid a price war between Saudi Arabia and Russia after they failed to agree on additional output cuts to support prices dented by the outbreak of the coronavirus pandemic.

"The recent COVID-19 outbreak and its rapid spread illustrate the importance of agility and adaptability in an ever-changing global landscape," Nasser said.

The kingdom said last week Aramco will pump 12.3 million barrels of oil per day, boosting output by at least 2.5 million bpd.

It also announced plans to raise production capacity from 12 million bpd to 13 million bpd.

Forecasts for future crude prices and demand are also bleak.

In its latest monthly report, the Organization of Petroleum Exporting Countries lowered its forecast for global average daily demand by 0.92 million barrels to 99.73 million barrels.

Saudi Arabia is also in the midst of a royal purge that saw King Salman's brother and nephew detained after sources said they were accused of plotting a palace coup to unseat the crown prince, heir to the Saudi throne.

Aramco shares rallied immediately after the listing on December 11, rising by 19 percent to 38 riyals ($10.1) and temporarily lifting the company's valuation above the $2 trillion mark, which was sought by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler.

But as oil prices tumble, Aramco shares have lost 29 percent from its highest point, slipping below the listing price.

On Thursday, Aramco's market value dropped to around $1.55 trillion, but it still remains the world's largest publicly listed company.

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News Network
May 5,2020

Dubai, May 5: Saudi Arabian prosecutors have ordered the arrest of a Saudi citizen for insulting an Asian expatriate and abusing him for not embracing Islam.

A video went viral online showing the expat, apparently with little knowledge of the Arabic language, being insulated by an Arabic-speaking man who does not appear in the clip, for having not embraced Islam and for not fasting.

A monitoring centre affiliated with the public prosecution examined the video the content of which “shows the citizen’s use of abusive words against the Asian resident on the pretext of inviting him to Islam,” the prosecution source said.

“The public prosecution closely follows up whatever infringes rights of citizens and residents including harm to their dignity and legal rights regardless of pretexts of such infringement,” the source added.

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