State oil giant Saudi Aramco plans to sell 49 per cent of its shares over the next 10 years, Saudi newspaper al-Eqtisadiah reported on Saturday, quoting an unnamed senior source. The company is targeting 2018 for what is expected to be the world’s biggest initial public offering. Source: Gulf Business News
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Israel’s intelligence and transportation minister has called on Saudi Arabia’s King Salman to invite Prime Minister Benjamin Netanyahu to Riyadh to establish full diplomatic relations. Source Aljazeera
George Soros, the billionaire who earned fame by betting against the pound in 1992, said Britain was approaching a tipping point that would see the economy slow to such an extent that Brexit might even be reversed. Source Reuters
Germany’s Thyssenkrupp (TKAG.DE) said it planned cost cuts worth at least 100 million euros ($112 million) to meet financial targets at its troubled unit that engineers industrial plants and builds ships, despite early signs of improvement. Source Reuters