NEWS IN REAL TIME
PARIS | FRANCE - LVMH said on Friday it had submitted its troubled takeover of Tiffany, which is now at the centre of a legal dispute between the two groups, for EU approval as it seeks to counter accusations that it deliberately stalled antitrust proceedings. The French group’s $16 billion acquisition of the U.S. jeweler … Continue reading BUSINESS | LVMH Submit Disputed Tiffany Takeover For EU Clearance
MILAN | ITALY – Saudi Arabia’s crude oil exports bounced back to 5.73 million barrels per day (bpd) in July from 4.98 million bpd in June, official data showed on Thursday. June’s exports were the weakest recorded in data stretching back to 2002. Monthly export figures are provided by Riyadh and other members of the … Continue reading BUSINESS | Saudi Arabia’s July Crude Exports Tick Up From Historic Lows – JODI
LONDON - Saudi Energy Minister Prince Abdulaziz bin Salman warned traders against betting heavily in the oil market saying he will try to make the market jumpy and promised those who gamble on the oil price would be ‘ouching like hell’.
DUBAI – The Israel and Dubai diamond exchanges have signed an agreement to promote cooperation in a deal certain to boost direct trade between the Middle East’s main diamond hubs. The agreement was announced on Thursday two days after Israel and the United Arab Emirates signed an historic agreement to normalize ties and marks a … Continue reading BUSINESS | Israel, Dubai Diamond Exchanges Begin Strategic Collaboration
MILAN | ITALY – U.S. President Donald Trump on Tuesday said he would be willing to sell other countries in the Middle East the same weapons systems sold to Israel, nothing the region’s wealth and saying it would be good for the United States and U.S. jobs. ‘They’ve very wealthy countries for the most part’, … Continue reading WORLD NEWS | Trump Says He Would Sell Other Gulf Countries U.S. Weapons Systems
MILAN | ITALY – Saudi Telecom Co has asked banks to pitch for roles in a potential public offering of its products and services development arm, three sources familiar with the matter told Reuters. STC, Saudi Arabia’s largest telecoms operator, sent a request for proposals to international and local banks last week for Solutions by … Continue reading BUSINESS | Saudi Arabia’s STC Asks Banks To Pitch For Subsidiary IPO: Sources
Luxury goods giant LVMH is ending its takeover deal of jewelry retailer Tiffany & Co., saying the French government had requested a delay to assess the threat of proposed U.S. Tariffs. Wednesday’s announcement came after the deal’s value had been eroded by wider industry troubles caused by the coronavirus pandemic. The Paris-based conglomerate said that … Continue reading BUSINESS | Luxury Goods Giant LVMH Cancels $14.5B Deal For Tiffany
RIYADH | Saudi Arabia’s state grain buyer SAGO said on Sunday the second and final stage of the bidding process for its mills had started. The kingdom is selling its entire flour milling business, in a long – awaited privatization that marks one of the first sales of the country’s state – owned assets. The … Continue reading BUSINESS NEWS | Saudi Arabia Starts Final Phase Of Its Mills Privatisation
MILAN | ITALY – After more than a year on the skids, Maserati has taken the wraps off a new high performance sports car which parent Fiat Chrysler hopes will help turn the brand into the ‘crown jewel’ of its merger with France’s Peugeot. The sleek and super – lightweight MC20 offers acceleration from zero … Continue reading LIFESTYLE | Maserati Aims To Be ‘Crown Jewel’ Of FCA-PSA Merger With New Super Car
Saudi Arabia’s sovereign fund PIF is weighing a potential investment in the initial public offering of Chinese financial technology firm Ant Group, which could be the world’s biggest IPO, two sources familiar with the matter said. Ant, Alibaba’s fintech arm and China’s dominant mobile payments firm, field for a dual listing in Hong Kong and … Continue reading BUSINESS | Saudi Sovereign Fun PIF Weighs Investing In Ant IPO – Sources
