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Saudi Aramco says to offer shares worth over $10 billion on Saudi bourse

Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than $10 billion. (Aramco)
Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than $10 billion. (Aramco)
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Updated 30 May 2024

Saudi Aramco says to offer shares worth over $10 billion on Saudi bourse

Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than $10 billion. (Aramco)
  • It is the firm’s second listing after an initial public offering in December 2019 that raised $25.6 billion

RIYADH: Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than $10 billion, one of the biggest such offerings in recent years.
In a statement posted to the Saudi stock exchange, Aramco announced a “secondary public offering of 1.545 billion shares,” with an expected price range between 26.70 and 29 Saudi riyals ($7 to $7.70).
The sale on the local bourse, which represents approximately 0.64 percent of the company’s issued shares, will commence on Sunday, Aramco said.
It is the firm’s second listing after an initial public offering in December 2019 that raised $25.6 billion, the biggest flotation in history.
Ƶ is the world’s largest crude oil exporter and, before the announcement on Thursday, the government owned about 82 percent of its shares.


What We Are Reading Today: ‘Lost Souls’ by Sheila Fitzpatrick

What We Are Reading Today: ‘Lost Souls’ by Sheila Fitzpatrick
Updated 7 min 25 sec ago

What We Are Reading Today: ‘Lost Souls’ by Sheila Fitzpatrick

What We Are Reading Today: ‘Lost Souls’ by Sheila Fitzpatrick

When World War II ended, about 1 million people whom the Soviet Union claimed as its citizens were outside the borders of the USSR, mostly in the Western-occupied zones of Germany and Austria.

These “displaced persons,” or DPs—Russians, prewar Soviet citizens, and people from West Ukraine and the Baltic states forcibly incorporated into the Soviet Union in 1939—refused to repatriate to the Soviet Union despite its demands.

Thus began one of the first big conflicts of the Cold War. In “Lost Souls,” Sheila Fitzpatrick draws on new archival research, including Soviet interviews with hundreds of DPs, to offer a vivid account of this crisis, from the competitive maneuverings of politicians and diplomats to the everyday lives of DPs.


Soul searching: How astrology and crystals are captivating younger generations

Mawadda’s serene collection of crystals and spiritual tools, offering moments of peace and introspection in a fast-paced world.
Mawadda’s serene collection of crystals and spiritual tools, offering moments of peace and introspection in a fast-paced world.
Updated 17 min 33 sec ago

Soul searching: How astrology and crystals are captivating younger generations

Mawadda’s serene collection of crystals and spiritual tools, offering moments of peace and introspection in a fast-paced world.
  • Younger generations are more open to exploring unconventional topics, says astrology enthusiast

RIYADH: In recent years, young Saudis have been increasingly drawn to astrology and crystals.

Arab News spoke to several Saudis who explained how this trend reflects a deeper desire for self-exploration and healing, particularly among the younger generation, who are navigating an era of rapid change and seeking guidance beyond traditional frameworks.

Young Saudis say that astrology — a system linking the position of planets to personality traits — as well as crystals, which some believe aid in personal healing, have provided avenues for them to explore their identities, face their anxieties and find meaning.

Wedad Bughararah says her whimsical workspace decor creates a peaceful and inspiring atmosphere. (Supplied)

Mawadda Al-Surehi, owner of AGAPE & Co., a store in Ƶ, described her journey as a response to a society that she believes often overlooks the well-being of the soul.

“We’re in an era where people are becoming more materialistic, focusing on possessions and forgetting their souls,” she said.

Al-Surehi’s products purportedly support meditation, inner peace and calmness. “Crystals are often underrated and seen only as pretty or aesthetic, but they actually carry a lot of energy and frequency,” she said. “I believe they’re part of our spiritual journey and have been for centuries.”

HIGHLIGHTS

• In a time of rapid change, uncertainty and global challenges, astrology and crystals promise young Saudis a sense of control, comfort and connection.

• Mawadda Al-Surehi predicts that crystals will become a staple in the lives of many Saudis, and are not just a passing trend.

“Crystals work like lemon and honey for the flu,” Al-Surehi said. “They’re for healing the spiritual side of you.”

Kyanite. (Supplied)

She predicted that crystals will become a staple in the lives of many Saudis, and are not just a passing trend.

Salsabil Al-Shajiri spoke about how her initial interest in astrology stemmed from curiosity. “I was interested in learning how these practices had captivated so many people,” she said. While she does not view astrology as an absolute truth, Salsabil appreciates its potential to help people reflect on their characteristics and tendencies, providing insight into relationships and behaviors.

She believes that the popularity of astrology among young Saudis is largely due to a desire for self-exploration. “They seek a way to discover their true selves,” she said, explaining how studying astrology has improved her mental health and perspective on life, helping her progress through personal development with a more positive outlook.

We’re in an era where people are becoming more materialistic, focusing on possessions and forgetting their souls.

Mawadda Al-Surehi, AGAPE & Co. owner

Abeer Ahmed shares a similar sentiment. “At the age of 27, astrology fits naturally and intuitively into my life,” she said. For Ahmed, astrology provides insight into daily life, although she approaches it with a balanced perspective. “I’ve learned through the years to take everything with a grain of salt,” she added, highlighting how she views astrology as a supportive tool rather than a definitive guide.

Labradorite. (Supplied)

Ahmed believes that young Saudis are drawn to astrology because of its fun and mysterious nature. “The idea that we each have a birth chart, unique to us, and can gain insight through studying constellations — that’s so fun,” she said. Younger generations, Abeer said, are more open to exploring unconventional topics. At various points in her life, astrology has provided her with confidence and a sense of direction. However, she cautioned against allowing it to dominate one’s life, highlighting that nothing should replace one’s own inner compass.

For Jomanah Nawaf, an interest in astrology and crystals began in 2018 when she discovered her placement — an aspect of astrology that attributes personality characteristics related to the time of a person’s birth.

Her particular placement of Sagittarius and Jupiter is said to represent a drive for personal freedom, truth and understanding — qualities that Jomanah found “ironically fitting.”

Lapis lazuli. (Supplied)

What started as a casual interest on social media quickly became a daily ritual. “Not a day goes by where I don’t use my astrology knowledge for personal reasons,” Nawaf said, adding that she incorporates astrology into everything from salon appointments to medical decisions.

Nawaf said that social media played a significant role in spreading these practices, especially during the COVID-19 pandemic when people spent more time online. She likens astrology to a personality test that offers labels to help people understand their experiences. “Astrology helps you understand what’s going on in your life and brings some relief,” she said. For Jomanah, astrology provides a sense of clarity and control in an unpredictable world, helping her navigate challenges with a calm perspective.

Wedad Bughararah was initially drawn to crystals because of their beauty, not necessarily because she believed they held energy. “Just having them around brought a sense of calm,” she said. This sense of peace led her to explore spirituality more deeply, discovering a world that felt both comforting and enlightening.

Bughararah commented on the generational draw to age-old practices. “Most of generation Z is struggling with depression because we don’t see a lot of hope for the future,” she said, adding that these practices provide a beacon of hope in an otherwise unpredictable life.

For some, like Al-Surehi, spirituality is a holistic journey that encompasses mind, body and soul. For others, like Ahmed and Nawaf, astrology serves as a tool for navigating life’s complexities.

In a time of rapid change, uncertainty and global challenges, astrology and crystals promise young Saudis a sense of control, comfort and connection. As Al-Surehi, eloquently puts it: “At the end of the day, you’re a soul inside a body.”

For this generation, spirituality presents itself as both a medicine for the soul and a guide to navigating the complexities of modern life.

 


Artifacts on display at Makkah exhibition

The Hira Cultural District is a cultural and tourism destination which is committed to enriching the visitor experience. (SPA)
The Hira Cultural District is a cultural and tourism destination which is committed to enriching the visitor experience. (SPA)
Updated 17 min 46 sec ago

Artifacts on display at Makkah exhibition

The Hira Cultural District is a cultural and tourism destination which is committed to enriching the visitor experience. (SPA)
  • A highlight of the exhibition is an immersive recreation of the Cave of Hira, where the Prophet Muhammad is said to have received his first revelation

RIYADH: The Hira Cultural District in Makkah is currently hosting the Revelation Exhibition, drawing visitors from all walks of life.

The exhibition provides a unique opportunity to delve into the stories of the prophets, from Adam to Muhammad.

A highlight of the exhibition is an immersive recreation of the Cave of Hira, where the Prophet Muhammad is said to have received his first revelation.

Visitors can go back in time to experience the historic moment through state-of-the-art technology and interactive displays.

The exhibition also features a range of artifacts, including a photographed copy of the Qur’an that belonged to the esteemed companion Uthman ibn Affan, and ancient stone inscriptions bearing verses from the Qur’an.

The Hira Cultural District is a cultural and tourism destination which is committed to enriching the visitor experience.

Its Autumn Vacation series of events offers a diverse range of experiences, including equestrian skills demonstrations, a display of traditional caravans, and engaging challenges.

 


Where We Are Going Today: ‘Otium Concept’ in Jeddah

Photo/Supplied
Photo/Supplied
Updated 18 min 12 sec ago

Where We Are Going Today: ‘Otium Concept’ in Jeddah

Photo/Supplied
  • The dessert selection continues the theme of indulgence with offerings including rose lokum cheesecake adorned with fresh petals, and an apple tarte fine served with vanilla ice cream

Otium Concept is located in Fayfa Avenue Mall on Prince Sultan Road in Jeddah. It is a lifestyle store and restaurant/cafe inspired by the glamour of art deco salons.

The cafe offers a thoughtfully crafted menu that combines international comfort foods with artisanal ingredients. Breakfast options include classics such as eggs Benedict on brioche and the cafe’s signature Beirut breakfast, featuring foul, labneh, and halloumi.

For lighter options, there are wholesome choices like Greek yogurt bowls with granola and honey, or acai bowls topped with fresh berries.

Starters, including burrata with pesto and tomato caviar, and beetroot carpaccio with hazelnuts and goat cheese, are well-presented, while from the main courses, the grilled pistachio salmon is a highlight, offering a delicate-yet-rich flavor profile, while the honey mustard chicken provides a savory-sweet experience with a tender, juicy texture.

The dessert selection continues the theme of indulgence with offerings including rose lokum cheesecake adorned with fresh petals, and an apple tarte fine served with vanilla ice cream.

The menu also features hearty salads and sourdough open sandwiches including spicy chicken or lobster, offering a comforting and satisfying meal on the go, as well as fresh pasta dishes such as lemon spaghetti and penne arrabbiata.

With its sophisticated-but-inviting atmosphere, Otium promises a dining experience that is both comforting and refined, making it a great choice for any occasion. Otium also offers catering services.

The boutique provides a distinct shopping experience, showcasing handpicked pieces from celebrated European designers. The space feels like a curated gallery, with brands including Forte Forte, Jamin Puech, and Yavi offering clothing, accessories, shoes, bags, and even decorative home items.

Otium also embraces its cultural side with an impressive collection of art and antiques, curated by architect Ibrahim Radwan. The gallery space features an eclectic mix of sculptures and paintings, blending history with modernity. Notable pieces include a Napoleon III-era mantel clock, an antique bronze statue of a German soldier, and vintage French candelabras.

Check @otiumconcept on Instagram for more details.

 

 


Renowned Lebanese journalist quits MTV over death threats by alleged Hezbollah supporters

Renowned Lebanese journalist quits MTV over death threats by alleged Hezbollah supporters
Updated 20 min 52 sec ago

Renowned Lebanese journalist quits MTV over death threats by alleged Hezbollah supporters

Renowned Lebanese journalist quits MTV over death threats by alleged Hezbollah supporters
  • ‘I decided to leave MTV because of the intimidations that reached the point of death threats,’ says Dr. Eman Shweikh on X
  • Samir Kassir Eyes Center reports that since Nov. 12 Shweikh had been subjected to a campaign of threats, incitement, accusations of treason

DUBAI: A renowned Lebanese journalist has taken to social media platform X to announce her departure from MTV following alleged death threats believed to have been made by supporters of Hezbollah.
Not mentioning the Iran-backed group by name, Dr. Eman Shweikh, a TV presenter at MTV, journalist and university professor, wrote: “I decided to leave MTV because of the intimidations that reached the point of death threats and the harassment that I am exposed to, which reached the point of following me home and chasing me on the road, in addition to harassing my family.”
The Samir Kassir Eyes Center reported that since Nov. 12 Shweikh had been subjected to a campaign of threats, incitement and accusations of treason due to her political opinions that she publishes on X, and because of her work for MTV.
The purported threats and harassment prompted her to leave her job at the channel.
The TV presenter added in her tweet: “The (Lebanese) state is absent, and laws are inexistent, and I do not want to expose my life and the lives of my family to danger. I want to live in safety and peace. Thank you to the Chairman of the Board of Directors of MTV Michel Murr.”
Shweikh’s tweet received thousands of likes and hundreds of retweets and comments.
Replying to her tweet, advocate Tarek Chindeb said: “The threat to kill journalist Eman Shweikh makes us believe at every moment that we cannot build a state in Lebanon in the presence of illegal weapons and militias outside accountability.”
Expressing solidarity, Chindeb hoped that the Lebanese security and judicial authorities would do their duty to protect her, and arrest the culprits.
Political analyst Magdi Khalil also replied to Shweikh’s tweet, saying: “Ideological militias do not know participation, but rather overpowering. They do not know dialogue, but rather the threat of violence.”
MTV journalist Nawal Berry and cameraman Dany Tanios were attacked in July while attempting to cover the aftermath of an Israeli airstrike on Beirut’s southern suburb, a Hezbollah stronghold.
It was not the first time Berry and her team had been assaulted by Hezbollah loyalists. During the early days of the Oct. 17 revolution in 2019, she and her team faced a violent attack and had their camera smashed.
Supporters of Hezbollah have a history of assaulting and threatening journalists. Targets have included Layal Alekhtiar, who received death threats in 2021 and faced legal action last year for interviewing an Israeli spokesperson; Dima Sadek; Ali Al-Amin; and others.
At the time of publishing, Shweikh could not be reached for comment.