- Saudi state oil giant Aramco made its return to the debt market on Tuesday after a three-year hiatus, joining top companies and governments in the Gulf that have tapped markets this year to fund investments.
Last month, the oil giant awarded $25 billion worth of contracts for its gas expansion plans, said it would buy 10% of Renault and Geely's thermal engines joint venture Horse Powertrain and announced a non-binding deal with U.S. energy firm Sempra to buy liquefied natural gas. PIF, which has spent billions on everything from electric cars to sports and planned futuristic cities in the desert, has also raised almost $8 billion from three debt sales.
The banks will arrange investor calls on Tuesday for the potential sale of benchmark-sized notes, according to the document, which did not disclose the size of the issuance. AI is effectively ‘useless’—and it’s created a ‘fake it till you make it’ bubble that could end in disaster, veteran market watcher warns
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