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Saudi Arabia transfers more Aramco oil shares to wealth fund

15 Sept 00:29 Key points summarised by AI

Saudi Arabia transferred a second 4% stake in oil giant Aramco to its sovereign wealth fund, the Public Investment Fund (PIF), via Sanabil Investments.
This move, following a similar 4% transfer last year, is part of Crown Prince Mohammed bin Salman's broader strategy to diversify the national economy and expand investment opportunities.
The transfer aims to strengthen PIF's financial position, while the state maintains its majority ownership with 90.18% of Aramco's shares.

Today 12:56 Key points summarised by AI

President Macron condemned widespread rioting and looting during nationwide protests, blaming far-left activists and criminals for the "unrestrained violence" and vowing accountability for those who "sought to bring down the Republic."
Over 2,400 arrests were made as protests against rising living costs and poor school conditions escalated, causing extensive damage to public buildings and businesses in cities like Paris, Limoges (where City Hall burned), Marseille, and Lyon.
The unrest, which organizers hoped would revive the "yellow vest" movement, saw political leaders trade blame, with Macron instructing prefects to protect public buildings and potentially ban future protests to prevent further disorder.