Russia orders airlines to stop using AN-148 aircraft

File photo showing a Russian Saratov Airlines Antonov AN-148, Russia announced the grounding of all AN-148, (Alex Snow-Wikipedia)
Updated 21 March 2018
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Russia orders airlines to stop using AN-148 aircraft

MOSCOW: Russia’s transport regulator has ordered Russian airlines to stop using the Antonov AN-148 aircraft after one crashed last month, state news agency RIA reported on Tuesday.
A Ukrainian-made AN-148 plane operated by Saratov Airlines crashed near Moscow soon after take-off on Feb. 11, killing all 71 people on board.
Russian airlines use Soviet-era Antonov and Ilyushin aircraft for its passenger transport fleet.


Potential SABIC deal would affect Saudi Aramco IPO time frame, says CEO Nasser

Updated 20 July 2018
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Potential SABIC deal would affect Saudi Aramco IPO time frame, says CEO Nasser

JEDDAH: A potential deal to buy a stake in petrochemical maker SABIC would affect the time frame of Saudi Aramco's initial public offering (IPO), the oil firm's president and CEO Amin H. Nasser said Friday. 

The IPO of around 5 percent of Aramco, which was initially to take place this year but is now more likely to happen later, would be the world's biggest listing, raising up to $100 billion.

Nasser said that buying a stake in a chemical company like SABIC would positively affect Aramco's revenue, Al Arabiya reported.

“We are still in the very early stages of the discussion to buy a stake in SABIC,” the Aramco CEO said.

“Aramco is ready for the initial offer and the timing remains subject to the state's decision.”

Saudi Aramco said on Thursday it is looking at the possibility of buying a stake in SABIC, a move that could boost the state oil giant’s market valuation ahead of the planned IPO.
Aramco said in a statement that it was in “very early-stage discussions” with the Kingdom’s Public Investment Fund (PIF) to acquire the stake in SABIC via a private transaction. It has no plans to acquire any publicly held shares, it said.
In a separate statement, PIF also said talks about a sale were in early stages. “There is a possibility that no agreement will be reached in relation to this potential transaction,” it said.