Saudi Arabia gives 4% of Aramco to investment fund
Headline from WTOP Washington DC
DUBAI, United Arab Emirates (AP) — Saudi Arabia said Sunday it will transfer 4% of its stock in the state-run oil giant Aramco to its state investment fund, a nearly $80 billion infusion of cash as it…
WTOP Washington DC's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
DUBAI, United Arab Emirates (AP) — Saudi Arabia said Sunday it will transfer 4% of its stock in the state-run oil giant Aramco to its state investment fund, a nearly $80 billion infusion of cash as it…
Saudi Arabia transferred shares worth about $80 billion in oil giant Aramco to its wealth fund as part of efforts to diversify the kingdom's hydrocarbon-dependent economy.
Saudi Arabia has moved four percent of Aramco shares worth 80 billion dollars in the world's biggest oil exporter to the kingdom's sovereign wealth fund, authorities said Sunday.
DUBAI, United Arab Emirates (AP) — Saudi Arabia says it will transfer 4% of stock in oil giant Aramco, valued nearly $80 billion, to state investment fund.
The transfer was made to support the "restructuring of the national economy," the Saudi Press Agency said. Crown Prince Mohammed bin Salman is aiming to diversify away from oil revenues.
