Saudi Arabia is set to rake in a record-breaking stack of cash within a few days – and it’s all thanks to one man’s surprising vision.
– which processes 10 per cent of the world’s oil – will make its market entry next week when it becomes the planet’s most valuable listed company.Three billion shares will be sold – the equivalent of 1.5 per cent of the business – which means $US25.6 billion will be raised.
Non-energy industries are now on Saudi Arabia’s agenda, as are several megaprojects and also tourism, with new tourist visas launched in September for the first time in the kingdom’s history. Saudi Arabia's Crown Prince Mohammed bin Salman is trying to diversify away from oil. Picture: AP Photo/Alexander Zemlianichenkoit was a “hollow win”.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Saudi Aramco raises $37.5 billion in the world's biggest IPOIt will be the biggest IPO in history, but will still fall significantly short of the towering $US2 trillion valuation long sought by Crown Prince Mohammed bin Salman.
Read more »
Saudi Aramco raises $37.5 billion in the world's biggest IPOIt will be the biggest IPO in history, but will still fall significantly short of the towering $US2 trillion valuation long sought by Crown Prince Mohammed bin Salman.
Read more »
Biggest public service shake-up in decades to claim senior scalps | Sky News AustraliaThe prime minister has announced a major change to the public sector, with the number of government departments set to cut from 18 to 14. \n\nScott Morrison announced on Thursday four new combined departments have been created to ensure “services Australians rely on are delivered more efficiently and more effectively”.\n\nThe new department of Education, Skills and Employment will be created with Mr Morrison describing it as “having a continuity from the day you walk into a school to the day you walk into a job and beyond”.\n\nThe new department of Agriculture, Water and Environment will be led by Secretary Andrew Metcalfe.\n\n“The new structures will drive greater collaboration, and will ensure important policy challenges in which different parts of the public service are working on can work effectively together,' the prime minister said.\n\nMr Morrison also said there will be no change to ministerial portfolios because he is “very pleased, very pleased, with the performance of all my ministers”. \n\nImage: News Corp Australia
Read more »
Stanthorpe to truck in 1.5 megalitres of water daily | Sky News AustraliaSouthern Downs Mayor Tracy Dobie says the $2.4 million water trucking trial “is the biggest water carting project that has ever been undertaken here and possibly Australia”.\n\nMayor Dobie told Sky News 1.5 megalitres of water will be trucked in each day from Connelly Dam in Warwick to the Storm King Dam in Stanthorpe, “equivalent to one and a half Olympic swimming pools”.\n\n“Even though we are in the worst drought ever recorded, many of the horticulturalists here are still trying to get some product to market this summer,” she said. \n\nImage: News Corp Australia
Read more »
Strike paralyses France as unions face off against Macron
Read more »
Tiger walks 1300 kilometres to find a mate in IndiaA lovelorn tiger in India walked more than 1,300 kilometres looking for a mate – and ended up almost back where he started. 9News
Read more »