Saudi and Israel in the news

Saudi Arabia is hitting the headlines because of Saudi Aramco's planned initial public offering. The IPO values the company at USD1.7 trillion, but the country's de facto ruler, Mohammed Bin Salman, had wanted a valuation of USD2 trillion, however.

Saudi Aramco made net income of USD 111 billion for 2018. With the IPO valuation it is the world's most profitable company.

Saudi Aramco is expected to start trading next month on Saudi's stock exchange, the Tadawul. Aramco said it planned to sell a 1.5% stake to Saudi investors, or some 3 billion shares, and is targeting a price range of 30 to 32 Saudi riyals, or around $8.00 per share.

Initially, it intended to trade shares on an international exchange as well but that idea has been put on hold.

According to Business Insider: "The global index provider MSCI folded Saudi Arabian stocks into its emerging markets index earlier this year. Meanwhile the largest US investment banks are among those underwriting Aramco's IPO. Citi, JPMorgan, and Goldman Sachs are among the joint bookrunners with more than 20 firms underwriting the listing."

While Saudi Arabia is concentrating on Aramco's IPO, Israel- once an arch-rival of the country but now an ally in the war against terrorism- is awaiting the appointment of a government. The formation of a coalition will happen soon, maybe, otherwise there will be a third general election this year. Netanyahu might even lose the premiership. To avoid this, he is saying that any coalition with the Arabs will be a disaster for Israel.

This is some of what Haaretz is writing.

All Eyes on Lieberman as Gantz, Netanyahu Show No Sign of Compromise

Dramatic political week continues as Kahol Lavan leader nears deadline to form coalition ■ Netanyahu: Arab party MKs want to destroy Israel ■ Gantz, Lieberman: Progress made in coalition talks

Nov 18, 2019 10:07 AM

With two days left until his mandate to form a government expires, Kahol Lavan leader Benny Gantz continues his attempt to secure a coalition, while Prime Minister Benjamin Netanyahu's Likud is claiming that a Gantz-led minority government backed by the country's Arab parties would be a "national attack on the State of Israel."

After their meeting on Sunday, Yisrael Beiteinu leader Avigdor Lieberman is set to meet with Netanyahu again on Monday. The right-wing bloc spearheaded by Netanyahu's Likud is also scheduled to meet in the Knesset on Monday afternoon.

Meanwhile, Kahol Lavan said it made significant progress in talks with both Lieberman's Yisrael Beiteinu and the center-left Labor-Gesher party on Sunday.

On Sunday night, Netanyahu's Likud party held an "emergency" rally in Tel Aviv to protest "a minority government supported by the Arab parties." During the rally, Netanyahu said Joint List lawmakers seek to destroy Israel, adding that if a Gantz-led minority government is formed, "they will celebrate in Tehran, in Ramallah, and in Gaza."

Joint List lawmakers accused Netanyahu of incitement and putting a target on their backs, and Kahol Lavan and its members called the rally self-serving, and urged Netanyahu to agree to the terms of a unity government.

Airshows and what they mean
The future of the Middle East


No comments made yet. Be the first to submit a comment
Wednesday, 05 August 2020