$10 billion bond to help Saudi Aramco acquire Sabic

Saudi Aramco could tap the bond market for about $10 billion to help fund the acquisition of petrochemicals giant Saudi Basic Industries Corp., according to the country’s Energy Minister Khalid Al-Falih. The kingdom will decide in the “next few weeks” about the size of the proposed bond, though the offering would not be “huge,” Al-Falih […]

More businesses open up as DED sees 4.6% increase in new Dubai licences in 2018

Dubai: The Department of Economic Development (DED) in Dubai announced on Sunday that it had issued 20,467 new licences in 2018. Overall, 248,769 business registration and licensing transactions were recorded in the ‘Business Map’ digital platform of DED in 2018 — an increase of 4.6 per cent over 2017. Among the main regions, Bur Dubai had […]

Saudi Arabia plans to build $10 billion oil refinery in Pakistan

Pakistan: Saudi Arabia plans to set up a $10 billion oil refinery in Pakistan’s deep-water port of Gwadar, the Saudi energy minister said on Saturday, speaking at the Indian Ocean port that is being developed with the help of China. Pakistan wants to attract investment and other financial support to tackle a soaring current account […]