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Gulf Arab Region

Aramco declares $1.71 trillion valuation in blockbuster IPO

Saudi Arabia on Sunday put a value of up to $1.71 trillion on energy giant Aramco in what could be the world's biggest IPO, but missed Crown Prince Mohammed bin Salman's initial target of $2 trillion. Aramco said it would sell 1.5 percent of the company in a blockbuster initial public...

Kuwait defense chief says government quit over embezzlement

Kuwait's defense minister said Saturday that the government's recent resignation was triggered by the alleged embezzlement of nearly $800 million from a military aid fund. "It is the main reason for the government's resignation", said Sheikh Nasser Sabah al-Ahmad Al-Sabah, two days after...

Kuwait cabinet quits after disputes in parliament

Kuwait's prime minister submitted his resignation Thursday along with his cabinet, officials said, amid infighting between ministers and criticism of their performance. Prime Minister Sheikh Jaber Mubarak Al-Sabah "submitted the resignation of the cabinet to the emir... in order to allow...