Saturday, 22 September, 2018

Saudi Aramco IPO likely to be delayed until 2019

Caricature of Mohammad Bin Salman and Netanyahu- Cartoon Wikipedia
| 14 March, 2018, 00:45

Crown Prince Mohammed has fashioned himself into something of a renaissance man in the conservative Sunni Muslim kingdom, ushering in a series of social reforms in recent months.

The travel ban has led the prince into deactivating his Twitter account, where he has regularly commented on events in the past, according to the report. Another of the late king's sons, Prince Mishaal bin Abdullah, complained about Gen. Qahtani's treatment to a circle of friends, and immediately afterward Prince Mishaal, too, was arrested and locked in the Ritz.

The Prime Minister conveyed warm wishes, on his own behalf and on behalf of the people of Pakistan, for Khadim Al-Haramain Al-Sharifain His Majesty King Salman bin Abdulaziz Al Saud, the Crown Prince His Royal Highness Mohammad bin Salman bin Abdulaziz Al Saud, the Saudi government and the brotherly people of Saudi Arabia.

Reports said the high-profile detainees, including bin Talal, were even subjected to torture in detention.

The delay has been made due to doubts about the handling of massive stock market flotations and concerns about potential downsides to having market exposure, the Financial Times reported, though the London Stock Exchange has a good chance of securing the IPO when Saudi Arabia finally decide to list its giant state oil company.


Most have since been released but they are hardly free.

Salman also personally invited Pope Tawadros to visit the Saudi Kingdom.

Meanwhile, fresh revelations show that prisoners caught up in the campaign were mistreated. Officials questioned by the paper under strict conditions of anonymity revealed that a doctor and two other people briefed on the condition of the body of Al-Qahtani reported that it had burn marks that appeared to be from electric shocks.

On Sunday, the king called for the creation of the new bodies that are meant to "increase effectiveness" and accelerate the process of combating corruption, Attorney General Sheikh Saud al-Mojeb said in an information ministry statement.

Authorities say the arrests netted more than $106 billion in exchange for the release most of the detainees.

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