Technogym presents 2 lists for the Board of Directors. Celebrate 40 years of activity at Design Week in Milan
The lists will be submitted to the meeting called on May 7th
Saudi Arabia scales back the Neom project: delays, layoffs and search for liquidity. What happens now to the Italian companies involved
The Line's construction time is getting longer, some contractors have laid off workers, while the sovereign wealth fund is looking for other ways to raise more funds to cover expenses
Artificial intelligence, United States and Saudi Arabia in the field with maxi-investments
The United States has announced 20 billion in financing to counter China in chips. Saudis consider creating $40 billion AI fund
Saudi Aramco: 2023 profit down but dividend up
The Saudi giant reported a net profit of 121 billion dollars, still recording its second highest historical profit. Free cash flow fell to 101,2 billion. Total dividends increase, reaching almost 100…
Airbus and Saudi THC sign an agreement for the supply of 120 helicopters in 5-7 years
The Helicopter Company is described by Airbus as being at the forefront of developing commercial helicopter services in the Kingdom of Saudi Arabia
Leonardo signs memorandum of understanding with Saudi Arabia for collaboration in the aerospace and defense sector
The agreement, announced at the World Defense Show, was signed by the Ministry of Investment and the General Authority for Military Industry of Saudi Arabia
WeBuild will build 3 dams in Saudi Arabia for the 2029 Winter Games village. 5 billion contract. The title flies
The three plants will create an artificial lake at the center of the Trojena project. For the former Salini-Impregilo, this is the second important contract awarded for the development of the project, announced by Crown Prince Mohammed bin Salman in March 2022
Saudi Arabia revalues its unexploited mineral resources: +90% to 2.500 billion
The increase is due to new discoveries of rare earths, the increase in phosphate, gold, zinc and copper and the revaluation of these minerals
Sovereign funds, the Saudis overtake Singapore, leader for 6 years. In 2023 alone they invested over 30 billion
According to the annual report of the Global SWF, the Saudis of the Public Investment Fund overtake the sovereign wealth fund of Singapore (GIC). Real estate is a favorite for sovereign investments
Will golf survive Arab petrodollars? Jon Rahm gives in to a financial offer of 600 million
Earthquake in the world of golf after the Basque champion's move to the Saudi Arabian circuit for a staggering sum - It's happening like in football but what will be the future of golf?
Cop28: in Dubai an army of 1.300 lobbyists cheers for fossil energy against NGOs and environmentalists. Oil falls on the markets
The two armies battle with no holds barred and in the meantime the price of crude oil continues to fall
Stock market closes on 5 December: Piazza Affari exceeds 30 thousand points and Pirelli stands out after the upgrading of UBS
The Ftse Mib exceeds the psychological threshold of 30 thousand points - Pirelli was the queen of the day after the promotion of Ubs to "Buy"
Cop 28, open clash over oil: the Sultan of the United Arab Emirates defends it and Exxon accelerates extraction with the sheikhs
Harsh intervention by Sultan Al Jaber: "There is no prospect of development without fossil energy unless we want to bring the world back into caves" - The CEO of Exxon: "The UN has focused too much on renewables, neglecting hydrogen and…
Rocco Forte after Technogym: the Saudi fund Pif acquires a share close to 49% of the hotel group
Advancement of the Saudi sovereign fund in Italy which acquires a significant share of the luxury hotel group. Cdp exits. It's the latest in a series of operations, that's what they are
Expo 2030: Saudi Arabia wins by a landslide, a painful but announced defeat for Italy (only 17 votes)
The petrodollars and the pharaonic projects put in place by Saudi Arabia for Expo 2030 have, as expected, got the better of Rome's candidacy which, after the Olympics, loses another opportunity for international relaunch. Our result is…
Expo 2030: last chance for Rome. The final verdict is Tuesday
The name of the winner of Expo 17 will be announced on Tuesday at 2030pm. Busan, Riyadh and Rome are the three candidates. Before the vote there will be a final appeal. It will be a race to the last vote but the Saudi capital remains the favourite
Pirelli: joint venture with Public Investment Fund for tire factory in Saudi Arabia
The total investment is approximately 550 million US dollars. The factory will have a production capacity of 3,5 million tires per year
Oil is racing towards 100 dollars. The winners are Russia and Saudi Arabia, Biden in serious difficulty
According to experts, prices will remain high until December, awaiting Aramco's capital increase. Meanwhile, Saudi Prince Mohammad Bin Salman starts Las Vegas in the desert and establishes relations with Israel on nuclear power?
Stock market September 5 latest news: the Saudi-Russia agreement makes oil prices and oil stocks soar
Saudi and Russian decisions to extend oil production cuts ignite prices and give oil stocks a boost
Mancini d'Arabia takes the money and runs away but he could have spared us the tricks and above all the victimhood
Mancini is the new Saudi Arabian coach after one fool after another: that behind the farewell to our national team there was the scent of Arab money was Pulcinella's secret and in fact the truth came out. Too late…
Ukraine war: peace summit in Saudi Arabia. Russia will not be there but Brazil, India, Türkiye will
According to the Wall Street Journal, diplomatic sources have reported that there will be an appointment in Jeddah on August 5 and 6. About 30 invited countries (including Brazil, India and Indonesia), weighed the absence of Russia
Energy transition, Arabs go shopping in Brazil: 10% of Vale's rare metals taken
Manara Minerals, a joint venture between Saudi Arabia's sovereign wealth fund and the local Ma'adene mining company, has entered with $3,4 billion into Vale Base Metals, Vale's spin-off company entirely dedicated to strategic minerals. It's the most…
Maire Tecnimont: petrochemical contracts in Saudi Arabia for two billion dollars
Its subsidiaries (Tecnimont and Tecnimont Arabia Limited) have been awarded two contracts for the petrochemical expansion of the SATORP refinery, a joint venture between Saudi Aramco and TotalEnergies. The petrochemical plant will enable the conversion of gas into new chemicals
Amusement park the size of Belgium and mega cities: this is why Saudi Arabia wants oil above 100 dollars
Without a sharp rise in crude oil prices above 100 dollars, the ambitious project of Prince Mohammed Bin Salman risks falling apart. And the Energy Minister takes action
Xi Jinping's trip to Saudi Arabia: the USA, the new balance, the advance of China. Here's what will change
Xi Jinping's trip to Saudi Arabia opens up new scenarios in relations between the two countries and in global geopolitical balances, in a moment of weakness for the United States. Well over 30 billion trade deals
Credit Suisse: Saudi Prince bin Salman on the way with $500 million to fix it
As reported by the Wall Street Journal, there would also be another potential investor: the US Atlas Merchant Capital led by banker Bob Diamond ready to invest another half a billion dollars.
Credit Suisse: losses of 1,5 billion francs expected in the fourth quarter. Assembly today
Today the extraordinary shareholders' meeting should launch a monster operation worth 4 billion Swiss francs. But the participation of Arab investors in the operation could be surprisingly curbed by other Swiss players. Directed by Ubs.
Saudi Arabia launches 100-year green bond: electric car, solar plants and ski slopes on the Red Sea
500 million dollar green bond and 6,7% interest: it will be used to finance the great ambitions of Mohammad Bin Salman who challenges Biden and allies himself with Putin
Saipem: stock rebounds after agreement for new joint venture in Saudi Arabia
The agreement is aimed at the establishment of a joint venture with skills and capabilities to perform the entire range of onshore EPC project activities in the country - The stock rebounds (+9%) after the series of thuds
Russian oil embargo, the only hypothesis launched by the USA sends prices flying to the highest levels since 2008
The hypothesis put forward by the US of a Russian oil embargo sends the price of crude oil skyrocketing to highs not seen since the 2008 financial crisis: 124 dollars for Brent and 140 for Wti
Leonardo and Saudia Aerospace (SAEI): agreement for maintenance of AW139 helicopters in Saudi Arabia
Memorandum of Agreement between the Italian Leonardo and Saudi Arabia's Saei for the maintenance of the AW139 helicopters, considered the best in their category, in the Arab country
Khashoggi, 007 US report: "Bin Salman authorized the blitz"
The Biden administration reveals the secret service report on the killing of journalist Khashoggi that Trump had hidden and which holds Saudi prince Mohammed bin Salman to his responsibilities - The White House recalibrates relations with Riyadh but avoids sanctions,…
Israel-Emirates-Bahrain: peace against Iran. And Trump celebrates
The three countries have signed an agreement at the White House to normalize diplomatic relations - Saudi Arabia could soon join - Netanyahu gathers new anti-Iran allies without conceding anything on the Palestinian side
Middle East: all the damages of the Coronavirus
Faced with 700 thousand cases of contagion, the governments of the ME must choose between the fight against the Coronavirus and the revival of the economy - Tourism risks a collapse of 75% - Possible new waves of protest
Oil, historic agreement on cuts: 10 million barrels less
Donald Trump has convinced Mexico, which resisted the OPEC Plus agreement: 10 million barrels will be cut, an unprecedented cut
Oil: OPEC+ cuts blocked by Mexico
Saudi Arabia and Russia sign price truce, but for now the 10 million b/d cuts remain on paper - Prices still down and inventories at the highest - The G20 meeting
Eni withdraws new buyback and revises Capex after crude oil collapse
Coronavirus and crude oil below $30 push Eni to withdraw the 400 million buyback plan - Significant reduction in Capex and expected expenses announced
Saudi Aramco: what is behind the record IPO
Aramco enters trading on the Saudi stock exchange and rises by 10%, but the results of the public offering demonstrate that behind the record-breaking hypothere there is a mixed reality
Saudi Aramco lands on the Stock Exchange: everything is ready for the debut
On 12 December the oil giant will debut on the stock exchange: Tadawul sets the rules - Greenshoe exercised, IPO funding rises to 29,4 billion
Saudi Aramco IPO: the calendar is in place, but the mystery continues
The most mammoth listing in the history of the markets will begin on November 17 - Only 0,5% of the capital will be allocated to retail investors - A bonus share is also planned
Saudi Aramco: profits -12% due to lower prices and production
First conference call ever for the Saudi Arabian state-owned group, the world's largest oil producer - The group also agreed to acquire a 20% stake in India's Reliance Industries refining assets for about 15…
Saudi Aramco, record demand for the bond: 85 billion
With books still open, requests already exceed the collection target by 8 and a half times
Saipem leads the FtseMib after contracts in Saudi Arabia
The group led by Srefano Cao has announced the signing of two contracts worth a total of 1,3 billion dollars. The reception from the market and analysts was very positive. The title revises the 4 eur quota
Juve-Milan Super Cup in Saudi Arabia: it's scandalous
The Lega Serie A has established that the Super Cup between Juventus and Milan is played in Saudi Arabia: business is business but the choice could not have been more unfortunate given that Saudi Arabia is under accusation all over the world…
Aramco: Saudi Arabia abandons the IPO
It was supposed to be the biggest IPO ever, but after many postponements the Saudi government, which controls the company, decided not to proceed either on the local or on the international market - In 2016, Prince Mohammed bin Salman had…
Oil, the four factors that influence the price
FROM INVESTING.COM - During the week, the price of oil rose to its highest level since 2014, and not only due to the reduction of inventories: from Iran to Venezuela, here are all the scenarios that are influencing this trend.
Oil: Saudi Aramco makes an about-face, skips the record IPO
What was supposed to be the largest initial equity placement not only of the century but of all time, worth around 100 billion dollars, appears to have stalled - Rising oil prices and…
Arab protectionism against Made in Italy: electrical appliances at stake
FROM THE BLOG LA CASA DI PAOLA - A series of technical regulations have been in force since this year without which not even a pin can enter Arab countries - Here is the experience of the Meneghetti Group
Oil on the rise: Saudi cuts exports
Saudi promises to cut output and limit crude oil exports to 6,6 million barrels per day - Wti above $46 a barrel, Brent up sharply.
Qatar and the risk of a new Gulf War: what's behind it
The political and economic reasons behind the tug of war between Saudi Arabia, Egypt, the United Arab Emirates and Qatar - The dispute over the gas pipeline designed by Qatar, Turkey and Iran - The financial effects of Qatar's isolation…
Saudi Arabia: more powers to the king's son
Crown Prince and King's nephew ousted. The announcement comes from the Saudi Press Agency
Safilo bets on Saudi Arabia
After the agreement with Maxxivision for entry into Iran, the Padua-based eyewear group decides to focus on Saudi Arabia. Since mid-June agreement with Dr. Mazen, excellence in healthcare, for exclusive distribution. Two new showrooms, one also in the capital Riyadh.
Enel, agreement on electricity distribution in Saudi Arabia
The Italian group and the Saudi utility Sec have signed a framework agreement for cooperation in the distribution of electricity aimed at digital technological advancement and improvement of the service
Syria and the Middle East: if oil matters more than peace
The Oil Games dominate old and new conflicts and American interests in the shale oil industry are welded with the conservative aims of the Saudis and with those of the Russians outside Opec: this is why a stable peace in the Middle East…
Saudi Arabia, record bond issue: raised 17,5 billion
Riyadh has set a new record for an emerging country, stealing the primacy from Argentina - The issue is part of the transformation plan of the Saudi economy, in search of new sources of revenue after the collapse in oil prices that created…
Oil between the Trump effect and the Saudi-Iran truce
From "THE RED AND THE BLACK" by ALESSANDRO FUGNOLI, Kairos strategist - The OPEC agreement is "only a facade" and in the world "oil continues to be very abundant" and Texas "has a greater potential than that of 'Saudi Arabia' which…
Oil flies on Moscow-Riad agreement
Brent maturing in October leaps 5%. Waiting for a communication from Saudi Arabia which could also concern the agreement with Russia
Oil, Riyadh's counter-move: sale of 5% Aramco and 2 thousand billion dollar super-Fund
Saudi Arabia has announced its strategy to react to the new course of low crude oil prices and revive its economy. The plan is called "Vision 2030" and aims to allow the country to "live without more oil…
Saudi Arabia: ok to economic reforms
A sovereign wealth fund of 2 trillion dollars and the landing of 5% of Saudi Aramco, the world's leading oil company, on the Stock Exchange. It is the "Vision 2030" project approved by the Council of Ministers of Saudi Arabia with the aim of diversifying the economy.
Oil, Moscow: agreement still possible
According to the Russian Energy Minister, despite the failure of the Doha summit, the agreement on the freezing of production can be reached in the future - There will be new consultations in April and May.
Oil: Russia - Saudi Arabia agreement
An agreement to freeze production activity involving OPEC countries and those outside the cartel will be proposed on April 17th - Saudi Arabia: "ok even without Iran" - Markets reacted immediately
Oil: Iran rejects Saudi and Russian proposal
"A simply ridiculous idea," said the Tehran minister referring to the proposal by Riyadh and Moscow to freeze production at January levels - Sharp drop in crude oil prices.
Syria: Türkiye and Saudi Arabia ready to intervene against Isis
Ground troops in Syria in order to fight the Islamic State - The Turkish Foreign Minister: "we need a broad and result-oriented strategy in the fight against terrorism".
WEEKEND INTERVIEWS - Silvestri (Iai): "The Saudi-Iran crisis stems from their internal problems"
INTERVIEW WITH STEFANO SILVESTRI (Iai) - "The clash arises from the possible change in social policies due to the decrease in oil revenues" - But "reducing production to raise the price would be a risk for both Riyadh and Tehran"…
New tensions between Riyadh and Iran which bans the import of Saudi products after the raid in Yemen
Iran accuses Saudi Arabia of having bombed the Iranian embassy in Yemen and, after appealing to the UN, decides to block imports of Saudi products, causing economic damage to Riyadh equal to 60 million dollars.
Winds of war between Iran and Saudi Arabia
After the execution of the Shiite Nimr al Nimr, the Iranian Supreme Guide Khameni invokes "divine vengeance" on Riyadh and accuses his Sunni rivals of being like ISIS - The Arab country responds by withdrawing diplomatic personnel and declaring broken…
Saudi Arabia: the government launches record measures against monstrous deficits
The government is taking measures after announcing a record deficit of 98 billion dollars in 2015. Gasoline and electricity bills are on the rise. The GDP is expected to grow by 3,3% this year but to decelerate sharply in 2016
Saudi and banks: opportunities come from mortgages and construction
The Saudi banking system appears very solid, liquid and capitalised. And the efforts of the authorities for greater diversification are noteworthy, with consumer credit registering +8,9%, mortgage growth +30% and ROE +18%.
Italferr (Fs) gets order in Saudi Arabia
The engineering company of the Ferrovie dello Stato Group has signed the contract for the railway project that will connect Jeddah to Al Jubali - The project covers a 1.300 km stretch and will involve Italferr for the next twenty months.
Record charity: Saudi prince donates 32 billion
It is about Al-Walid, president of the investment company Kingdom Holding Company - "This gift will be distributed over the next few years according to a well-conceived plan", he said - The model is the Bill Gates Foundation.
Saudi Arabia announces end of raid in Yemen: oil prices are down
Saudi Arabia's announcement of the end of bombing in Yemen led to a drop in the price of Brent which stands at 61,50 dollars a barrel - Shares of Eni, Tenaris and Saipem fell on Piazza Affari this morning
The fate of Saudi Arabia after King Abdullah
INTESA SANPAOLO REPORT - In 2015-2016 the non-hydrocarbon sector will grow by 4,5% - For the hydrocarbon sector, the authorities have reiterated that they do not intend to cut production, therefore the forecasts are for zero growth - But GDP will grow…
Saudi Arabia, King Abdullah dies
Now the throne belongs to his half-brother, 79-year-old Prince Salman - King Abdullah will be buried in Riyadh after afternoon prayers, in the presence of several foreign leaders.
SuperMario shocks the markets: Stock exchanges, BTPs and euros in turmoil after the trillion-dollar Qe
Stock markets, government bonds and currencies in turmoil after the ECB's QE of over a trillion - But the emotions don't end there: the death of the King of Arabia Abdullah causes oil to rebound and the count begins in Greece...
FROM ALESSANDRO FUGNOLI'S BLOG – Russian Christmas, Greek New Year: geopolitics hangs over the markets
FROM THE "RED AND BLACK" BLOG BY ALESSANDRO FUGNOLI, Kairos strategist - What is really behind the oil shock: American opportunities, Saudi panic, Russian defeat - It will be a…
Oil collapses but only adjustments for petrol
Despite the collapse of black gold from 115 dollars in June to 71 dollars of current prices (Brent fell by 37% in the period) the price of fuels remains high - Today new adjustments: the green Eni leads the declines…
Oil, Opec: all eyes on the Vienna summit, prices at lows and Arabia does not cut
Oil prices plunge to their lowest since 2010 in view of today's OPEC summit in Vienna and after the announcement that Arabia and its allies have decided not to cut production: the effects on the markets are very significant…
Saudi Arabia, a breath of smoke against machismo
Why do Saudi women smoke so much? Some speak of a "against" smoke, that is, a choice aimed at showing one's rebellion.
The Middle East Oil War: What's Underlying
The "war" between Saudi Arabia and Iran strongly conditions the entire oil market in the Middle East - Here are the three phases of a clash based on the religious conflict between Sunnis and Shiites and also played out on economic and geopolitical grounds -…
Saipem, new contract in Saudi Arabia
The construction of the new plants will allow for the treatment of an additional 300 barrels per day from the Khurais field, while the assembly of ancillary plants will allow the restoration of production of 200 barrels per day from the Abu fields…
INTERVIEW WITH LEONARDO MAUGERI (Harvard): "Too much supply, in the short term, oil is increasingly low"
Two years ago, the former ENI manager predicted the ongoing fall in prices due to the surge in world production capacity. "It's the result of $2.500 trillion invested since 2010." And he adds: "US shale gas will not liberate Europe…
SACE in Saudi Arabia: Made in Italy up 9,2%
In a market where Italian exports are already well positioned in key sectors for industrial development, new operations worth 120 million are being examined to support SMEs and new investments.
London, Lawrence of Arabia's shetch map of Northern Arabia
On 9th May 1917, Lawrence and the Arab armies set out north from the Red Sea port of al Wejh to capture Aqaba and drive the Arab to turn further north. Having first reached the Hejaz railway, on 19th May they…
The inherent difficulties of development in Saudi Arabia
Recently, the country has pursued a policy of relative diversification of the structure of the economy capable of guaranteeing good growth rates, but the levels of welfare, unemployment and the lack of infrastructure weigh heavily.
Saipem: four new contracts for a total of 4 billion dollars
Saipem said it has been awarded four new engineering and construction contracts, three in Saudi Arabia, one in Brazil, for a total of approximately 4 billion euros - The company's CEO, Umberto Vergine, called it "a…
Aid to businesses: SACE and Cariparma Crédit Agricole support PR Industrial in Saudi Arabia
SACE and Cariparma Crédit Agricole confirm their position at the forefront in supporting projects for the internationalization of companies through insurance and export support. The Sienese company PR Industrial obtained 1 million euros from Cariparma Crédit Agricole…
Maire Tecnimont, Tbs and Noemalife: new orders abroad
Maire Tecnimont, Tbs and Noemalife are awarded important contracts abroad, respectively in Cameroon, Chile and Saudi Arabia - The related shares are listed on the Stock Exchange.
Saudi Arabia: driving is bad, but only for women
A Muslim psychologist from the Gulf Psychological Association said in an interview that women should not drive, because it would cause serious damage to their ovaries - The interview came after some activist groups in Saudi Arabia had launched a…
Nuclear power plants: Japan offers them to Saudi Arabia to release oil
Tokyo's plan is to help Saudi Arabia build nuclear power plants (Saudi plans call for 17 gigawatts of new nuclear capacity over the next twenty years) - Energy demand in Saudi Arabia is growing sharply, and if it could be met…
One billion dollar contract for Saipem in Saudi Arabia and Nigeria
Two new Epc contracts for Saipem, in Saudi Arabia and in Nigeria with Shell, Saudi Amarco and Sumimoto Chemical - Saipem also negotiated with Gorgon Lng for variations for another project in Australia.
Ubs: upward estimates for oil
Despite a short-term drop in Brent due to increased exports from Saudi Arabia, it is expected to rise to $112 a barrel over the course of the year.
Maire Tecnimont: new 145 million contracts in Saudi Arabia and Brazil, shares soar on the Stock Exchange
The Rome-based company has announced that it has been awarded, through its subsidiaries, two contracts worth about 145 million dollars for the construction of some projects in Saudi Arabia and Brazil - After the news splashes…
Saudi Arabia opens up to foreign investors
The Riyadh Stock Exchange will allow direct investment by foreign investors within the year, even if it will set a ceiling on shareholding.