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Gulf Arab Region

Saudi Aramco shares to begin trading after world's biggest IPO

Saudi Aramco's shares begin trading domestically on Wednesday, after the energy behemoth raised $25.6 billion in the world's biggest initial public offering. Aramco has priced its IPO at 32 riyals ($8.53) per share, the high end of the target range, surpassing the $25 billion raised by...

Saudi king calls for Gulf Arab unity to confront Iran

Saudi Arabia's King Salman opened a Gulf Arab summit Tuesday by calling for regional unity to confront Iran and secure energy supplies and maritime channels. "Our region today is passing through circumstances and challenges that require concerted efforts to confront them as the Iranian...

Saudi projects higher 2020 budget deficit, cuts spending

Saudi Arabia on Monday said its budget deficit for next year would widen as the world's top oil exporter faces tumbling oil prices and production cuts. The kingdom projected a budget deficit of $50 billion for 2020, for the seventh year in a row, up $15 billion on this year, according to an...