Saudi paper apologizes for inaccurate reporting on Aramco IPO

Al-Eqtisadiah
Updated 25 December 2016
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Saudi paper apologizes for inaccurate reporting on Aramco IPO

Al-Eqtisadiah on Sunday retracted a news item and apologized for the misinformation in a previously published report regarding the Saudi Aramco privatization plan.
 
The daily said in its retraction that the article stated that the privatization project was introduced as part of the Kingdom’s Vision 2030, and not the National Transformation Program 2020.
 
A number of media outlets such as AFP and Arab News quoted the story as was reported by the Saudi economic daily, Al-Eqtisadiah.
 
The daily added that the share amount which will be offered for sale is different than the figures published in its article, adding that the 5 per cent the daily claimed was far from reality and completely wrong.
 
Moreover, Al-Eqtisadiah's article was not based on any scientific analysis or any credible source, and the figures mentioned in the analysis were in Saudi riyals when it should have been in dollars, the daily said.
 
"Al-Eqtisadiah apologies to its valued readers and urges all media outlets that published the report to publish the above apology and clarification. The newspaper will investigate the publication of this misinformation," said the daily.
 


Bahrain says conference co-hosted with US aimed at helping Palestinians

Updated 2 min 31 sec ago
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Bahrain says conference co-hosted with US aimed at helping Palestinians

DUBAI: Bahrain said Tuesday a peace conference it is co-hosting next month with the US is aimed at helping the Palestinians, who have criticized the kingdom for failing to consult them about the event.
The conference “serves no other purpose” than to help the Palestinian people “through developing their abilities and enhancing their resources,” said Foreign Minister Khalid bin Ahmed Al-Khalifa.
The kingdom “remains supportive of the brotherly Palestinian people in restoring their legitimate rights on their land as well as establishing an independent state with east Jerusalem as its capital,” Bahrain’s top diplomat said in a statement.
The White House announced Sunday it would co-host the June 25-26 conference with Bahrain focusing on economic aspects of the long-delayed US peace plan, with the declared aim of achieving Palestinian prosperity.
“We were not consulted by any party on the announced meeting to take place in Manama, Bahrain,” Saeb Erekat, secretary general of the Palestine Liberation Organization, said in a statement.
“We have not mandated any party to negotiate on our behalf.”
The Palestinians have boycotted the US administration since President Donald Trump broke with decades of consensus and recognized Jerusalem as Israel’s capital in December 2017.
They consider the eastern part of the city the capital of their future state and have shown little interest in the US peace plan, which they fear will be heavily biased in favor of Israel.
Dubbed “Peace for Prosperity,” the conference is expected to bring together leaders from several governments, civil society and the business sector.
Trump’s office said the conference was a “pivotal opportunity... to share ideas, discuss strategies, and galvanize support for potential economic investments and initiatives that could be made possible by a peace agreement.”
The Palestinians see this as offering financial rewards in exchange for accepting ongoing Israeli occupation.
“Attempts at promoting an economic normalization of the Israeli occupation of Palestine will be rejected,” Erekat said.